Business
Avino Silver & Gold Mines Reports Q3 2022 Financial Results
Record Quarterly Production Generates $9.1 Million in Revenues; Company Continues to Control Cash Costs VANCOUVER, BC, Nov. 9, 2022 /CNW/ - Avino Silver & Gold
About this update from Avino Silver & Gold Mines Ltd.
[{"type":"text","content":" Record Quarterly Production Generates $9.1 Million in Revenues; Company Continues to Control Cash Costs VANCOUVER, BC, Nov. 9, 2022 /CNW/ - Avino Silver & Gold Mines Ltd. (TSX: ASM) (NYSE American: ASM) (FSE: GV6) (\"Avino\" or \"the Company\") released today its consolidated financial results for the Company's third quarter 2022. The Financial Statements and Management's Discussion and Analysis (MD&A) can be viewed on the Company's website at www.avino.com, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. \"We delivered our strongest quarterly production in recent history and increased our mill throughput by 37% from the previous quarter to over 160,000 tonnes. This reflects our steady ramp up at the Avino mine,\" said David Wolfin, President and CEO. \"We have demonstrated resilient operational achievements at Avino that have generated $9.1 million in quarterly revenues, $2.1 million in quarterly mine operating income, and another consecutive quarter of positive operational cash flows with $1.6 million generated from operations, even while metal prices declined in third quarter. Thanks to our resilience and strong cost management, and the recent trend upward in metal prices, we remain well-positioned to manage through any near-term pressures arising from an overall economic slowdown, while remaining focused on our clear path to transformational growth and becoming Mexico's next intermediate producer.\" 3rd Quarter 2022 Highlights Record Quarterly Production at Avino A record 778,008 silver equivalent ounces were produced in Q3 2022, marking a 20% increase over Q2 2022. Q3 2022 marks the fourth full quarter following the restart of operations in August 2021. Avino ET Area Drills High Grade Silver and Copper in Multiple Holes On October 11, 2022, Avino announced further drill results from the Avino Elena Tolosa (\"ET\") area below the current Level 17 mining area. These drill results continue to confirm the downdip continuity of widths and grades of the Avino vein extending significant potential to a depth of at least 290 metres down dip below the deepest levels of development. The results confirm the mineralization continues and also contains significantly higher copper mineralization in the ET area. Commissioning of Dry-Stack Tailings Facility During Q3 2022, the Company completed con...