Avino Reports $12.4 Million in Revenues in Q1 2024; Improves on Unit Costs

About this update from Avino Silver & Gold Mines Ltd.

[{"type":"text","content":"Avino Reports $12.4 Million in Revenues in Q1 2024; Improves on Unit CostsVANCOUVER, BC / ACCESSWIRE / May 8, 2024 / Avino Silver & Gold Mines Ltd. (TSX:ASM)(NYSE American:ASM)(FSE:GV6) a long-standing silver producer in Mexico, announces its consolidated financial results for the first quarter of 2024.First Quarter 2024 Financial HighlightsRevenues of $12.4 millionGross Profit (mine operating income) of $2.3 million, $3.1 million net of non-cash costs of salesNet income of $0.6 millionEarnings before interest, taxes, depreciation and amortization (\"EBITDA\") 3 of $1.7 millionAdjusted earnings 3 of $2.0 million, or $0.02 per shareCash costs per silver equivalent payable ounce sold 1,2,3 of $14.89All in sustaining cash costs per silver equivalent payable ounce sold 1,2,3 of $20.23The earnings should be read in conjunction with the Company's Financial Statements and Management's Discussion and Analysis (\"MD&A\") for the corresponding period, which can be viewed on the Company's website at www.avino.com , or on SEDAR+ at www.sedarplus.ca or on EDGAR at www.sec.gov .\"In the first quarter, we continued to show steady improvement with positive net income, cash flow generation and reduced operating costs,\" said Nathan Harte, Chief Financial Officer. \"Unit costs and margins have improved compared to 2023, as our team has diligently worked to preserve our cost structure, as evidenced by increases to working capital of 92% since Q1 2023, and growth in our cash position of 29% since year end. Further, with stronger pricing seen subsequent to the end of the quarter in all three of our production metals, the outlook for the rest of 2024 remains very positive. Finally, we want to reiterate our confidence in our plans to advance La Preciosa with limited capital spending and look forward to updating the market on progress.\"\"We have successfully implemented robust cost control strategies, despite the challenges posed by inflationary pressures, resulting in a gradual reduction in costs during the first quarter,\" said David Wolfin, President and CEO. \"In addition, our first quarter production results saw a notable improvement to mill throughput of 18% compared to Q4 2023, which contributed to positive overall results. Our commitment to achieving growth targets remains unwavering. We are enthusiastic with the recent advancements in...

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