Business
Avino Silver & Gold Mines Reports Q1 2021 Financial Results
VANCOUVER, BC, May 12, 2021 /CNW/ - Avino Silver & Gold Mines Ltd. (ASM: TSX) (NYSE American: ASM) (FSE: GV6) "Avino" or "the Company") released today its conso
About this update from Avino Silver & Gold Mines Ltd.
[{"type":"text","content":" VANCOUVER, BC, May 12, 2021 /CNW/ - Avino Silver & Gold Mines Ltd. (ASM: TSX) (NYSE American: ASM) (FSE: GV6) \"Avino\" or \"the Company\") released today its consolidated financial results for the Company's first quarter 2021. The Financial Statements and Management's 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. \"During the first quarter we continued preparations for the re-commencement of production and remained focused on our 2021 drill program. The objectives of the drill program are to locate new mineralized zones within the property and to confirm continuity of mineralization in the current Avino ET production area. We have completed 3,763 metres of drilling and are currently waiting for full assay results to be received,\" said David Wolfin, President and CEO. \"In addition, we were able to reduce our debt position by a further $0.8 million and increased our working capital to a record $31 million, ending the quarter with a strong balance sheet thanks to the efforts of the teams in Mexico and Canada, as well as the strength in metal prices.\" First Quarter 2021 Financial Highlights Ending cash balance of $27 million Ending working capital of $31 million Reduction in debt liabilities by $0.8 million Mine operating losses of $0.7 million Net losses from continuing operations of $1.8 million, or $0.02 per share Losses before interest, taxes, depreciation, and amortization (\"EBITDA\")1 of $1.7 million Adjusted losses1 of $0.9 million Financial Highlights HIGHLIGHTS(Expressed in 000's of US$) FirstQuarter 2021 FirstQuarter 2020 Change FirstQuarter 2021 FourthQuarter 2020 Change Financial Operating Performance Revenues $ 29 $ 7,116 -100% $ 29 $ 1,407 -98% Mine operating (loss) income $ (680) $ 843 -181% $ (680) $ (1,251) -46% Net loss from continuing operations $ (1,818) $ (232) -684% $ (1,818) $ (1,553) -17% Net loss including discontinued operations $ (1,818) $ (232) -684% $ (1,818) $ (1,555) -17% Earnings (loss) before interest, taxes and amortization (\"EBITDA\")1 $ (1,740) $ 372 -568% $ (1,740) $ (2,269) 23% Adjusted earnings (losses)1 $ (944) $ 391 -341% $ (944) $ (182) -408% Per Share Amounts Loss per share from cont. operations - basic $ (0.02) $ (0.00) -100% $ (0.0...