Business
Avino Silver & Gold 2022 Outlook - Looking Forward To A Prosperous Year; And Review Of 2021 Milestones Achieved
VANCOUVER, BC, Feb. 10, 2022 /CNW/ - Avino Silver & Gold Mines Ltd. (TSX: ASM) (NYSE American: ASM) (FSE: GV6) ("Avino" or "the Company") is pleased to provide
About this update from Avino Silver & Gold Mines Ltd.
[{"type":"text","content":" VANCOUVER, BC, Feb. 10, 2022 /CNW/ - Avino Silver & Gold Mines Ltd. (TSX: ASM) (NYSE American: ASM) (FSE: GV6) (\"Avino\" or \"the Company\") is pleased to provide its outlook for 2022 and a recap of the highlights from 2021. \"We are very pleased with the 2021 production results, in particular the Q4 numbers, as they exceeded our expectations. In addition, there were many other positives for Avino in 2021,\" said David Wolfin, President and CEO. \"We resumed operations at the mine in August, we embarked on a comprehensive drill program, and the construction of the dry stack tailings facility with its environmental and safety advantages, is progressing well. Finally, in October, we announced the acquisition of La Preciosa property. I've commented previously about how this transaction could be transformational for Avino, and when the proposed transaction is closed, the increase to NI 43-101 mineral resources will be significant. We have much to look forward to in 2022 and beyond, production is steadily increasing, and we are ready to continue moving on a strategic path to future growth.\" 2022 OUTLOOK Capital Budget It is expected that at current metal prices capital expenditures will be paid for by operating cash flows generated from mining operations during Q4 2021 & throughout 2022. Operations Corporate Consolidated Growth Capital US$M $3.5 - $4.0 $0.5 $4.0 - $4.5 Exploration & Evaluation US$M $1.5 - $2.0 - $1.5 - $2.0 Mine Development US$M $1.0 – $1.5 - $1.0 – $1.5 Sustaining Capital US$M $0.5 - $1.0 - $0.5 - $1.0 Total Capital Budget US$M $6.5 - $8.5 $0.5 $7.0 - $9.0 Growth Capital The Company will continue with the completion of the Dry Stack Tailing Storage Facility, as well as the infrastructure associated with transporting the dry tailings. Outstanding costs for this project represent approximately $1.0 million for 2022. This project is expected to be fully operational in H2 2022 and brings the Company towards achieving the guidelines with the Global Industry Standard on tailings management. Other budgeted growth capital expenditures include underground communications systems for increased haulage rates, new conveyor systems for concentrate transportation, new underground equipment, as well as new geological buildings and new community outreach buildings to promote social engagement with the lo...