Business
Avino Silver & Gold Mines Provides Outlook for 2024 and Highlights Major 2023 Milestones
VANCOUVER, BC / ACCESSWIRE / February 13, 2024 / Avino Silver & Gold Mines Ltd. (TSX:ASM) (NYSE American:ASM) (FSE:GV6) is pleased to provide its outlook for 20
About this update from Avino Silver & Gold Mines Ltd.
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / February 13, 2024 / Avino Silver & Gold Mines Ltd. (TSX:ASM) (NYSE American:ASM) (FSE:GV6) is pleased to provide its outlook for 2024 and a summary of the major milestones achieved in 2023. 2024 OUTLOOK Production For 2024, approximately 700,000-750,000 tonnes are planned for mill processing and will be sourced from both the Avino Mine and stockpiles from La Preciosa. Based on current metal prices, the Company expects to produce between 2.5M and 2.8M silver equivalent ounces 1 . Capital Budget Mexico Operations Growth Capital US$M $3.0 - $4.0 Exploration & Evaluation US$M $0.8 - $1.0 Sustaining Capital & Mine Development US$M $3.5 - $4.0 Total Capital Budget US$M $7.3 - $9.0 Growth Capital The Company's budgeted growth capital for 2024 includes expenditures at the Avino Mine and at La Preciosa, which features prominently in the Company's five-year growth plan. At La Preciosa, growth capital includes surface works and equipment procurement intended for the first phase of mine development in conjunction with the Company's internal mine plan for the Gloria and Abundancia Veins. With most of the mining and development equipment already at Avino, the Company expects minimal upfront capital needed to begin mine development at La Preciosa. Management and the Board of Directors are continuing to review the budget for La Preciosa. The environmental permit has been submitted to the relevant authorities and the timing of expenditures is contingent upon approval. Exploration & Evaluation The Company's budgeted exploration and evaluation expenditures for 2024 will be focused on regional exploration and further understanding of the structural geology below the current Avino Mine production area, with no drilling planned. The Company's priority is to move La Preciosa forward to development and production. Sustaining Capital & Mine Development At Avino, budgeted sustaining capital and mine development expenditures include rehabilitation and overhauls of the Company's existing mining fleet, tailings management, and ongoing mine and mill maintenance to ensure safety as we continue production operations. \"In 2023, we delivered on several important goals starting with a successful drill program which focused on the area below Level 17, the current deepest workings...