Business
Avino Silver & Gold Mines Reports Q3 2023 Financial Results
VANCOUVER, BC / ACCESSWIRE / November 8, 2023 / Avino Silver & Gold Mines Ltd. (TSX:ASM) (NYSE American:ASM) (FSE:GV6) "Avino" or "the Company") a growing silve
About this update from Avino Silver & Gold Mines Ltd.
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / November 8, 2023 / Avino Silver & Gold Mines Ltd. (TSX:ASM) (NYSE American:ASM) (FSE:GV6) \"Avino\" or \"the Company\") a growing silver producer in Mexico , released today its consolidated financial results for the Company's third quarter of 2023. The earnings should be read in conjunction with the Company's Financial Statements and Management's Discussion and Analysis (MD&A) for the corresponding period, which can be viewed on the Company's website at www.avino.com , or on SEDAR+ at www.sedarplus.ca or on EDGAR at www.sec.gov . Third Quarter 2023 Financial Highlights Revenues of $12.3 million, increase of over $3 million from both Q1 and Q2 2023 Mine operating income of $2.4 million, $3.1 million net of non-cash costs of sales Earnings before interest, taxes, depreciation and amortization (\"EBITDA\") 3 of $0.7 million Adjusted earnings 3 of $1.6 million, or $0.01 per share Net loss of $0.8 million, or $0.01 per share, driven by non-cash items Cash costs per silver equivalent payable ounce sold 1,2 - $16.90 per ounce All in sustaining cash cost per silver equivalent payable ounce sold 1,2 - $22.69 per ounce Cash generated by operating activities (pre working capital adjustments) of $1.8 million Working capital of $7.4 million, up $2.8 million from June 30, 2023 \"During the third quarter of 2023, the Avino Mine provided consistent production results although impacted by the lower copper grade areas we were mining coupled with lower recovery rates,\" said David Wolfin, President and CEO. \"Our financial performance was improved from previous quarters, with stronger revenues of over $12 million resulting from higher sales volumes, as well as improved margins helped by the weakening of the Mexican Peso against the US dollar over the previous quarter. We remain focused on moving our pipeline of projects forward to achieve transformational growth, becoming an intermediate silver producer in Mexico, and delivering the best performance for our shareholders and stakeholders.\" Financial Highlights HIGHLIGHTS (Expressed in 000's of US$) Third Quarter 2023 Third Quarter 2022 Change YTD 2023 YTD 2022 Change Financial Operating Performance &nb...