Business
Avino Silver & Gold Mines Ltd. Announces Financial Results for Fourth Quarter and Year End 2018
VANCOUVER, Feb. 27, 2019 /CNW/ - Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American; FSE:GV6, "Avino" or "the Company") is pleased to announce the consolida
About this update from Avino Silver & Gold Mines Ltd.
[{"type":"text","content":" VANCOUVER, Feb. 27, 2019 /CNW/ - Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American; FSE:GV6, \"Avino\" or \"the Company\") is pleased to announce the consolidated financial results for the Company's fourth quarter and year ended December 31, 2018. The Financial Statements and Management Discussion and Analysis (MD&A) can be viewed on the Company's web site at www.avino.com, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. FOURTH QUARTER 2018 HIGHLIGHTS Generated revenues of $8.3 million from the sale of San Gonzalo and Avino concentrates Mine operating income amounted to $1.3 million, a decrease of 60 % over the same period of 2017 Net income after taxes amounted to $1.0 million or a EPS (Earnings per share) of $0.02 Silver equivalent production of 720,187 ounces1, including 288,600 ounces of silver, 1,973 ounces of gold, and 1,375,758 lbs of copper Total consolidated cash cost2 was $8.93 per silver equivalent payable ounce1 Consolidated all-in sustaining cost2 (\"AISC\") was $9.41 per silver equivalent payable ounce1 a 2% increase compared to $9.23 per ounce in the fourth quarter of 2017 Working capital of $13.1 million, a 20% decrease from $16.4 million in 2017 due to continued reinvestment in capital projects Earnings before interest, taxes, depreciation and amortization (\"EBITDA\") was 1.2 million Cash of $3.2 million was on hand at the end of the quarter 2018 HIGHLIGHTS Generated revenues of $34.1 million from sales of San Gonzalo and Avino concentrates, an increase of 2% compared to 2017 Mine operating income was $6.3 million, a decrease of 44% compared to 2017 Net income after taxes amounted to $1.6 million or a EPS (Earnings per share) of $0.03 Silver equivalent production of 2,863,753 ounces1, including 1,286,382 ounces of silver, 8,092 ounces of gold, and 4,819,022 lbs of copper Total consolidated cash cost2 was $9.32 per silver equivalent payable ounce1 AISC2 was $10.67 per silver equivalent payable ounce1, a 5% increase compared to $10.11 per ounce in 2017 Working capital of $13.1 million, a 20% decrease from $16.4 million in 2017 due to continued reinvestment in capital projects EBITDA of $6.0 million Cash of $3.2 million was on hand at December 31, 2018 Invested $14.8 million in capital expenditures at the Avino and Bralorne mines \"Despite the challenges faced in 2018, our overall ...