Business
Avino's 2023 Outlook Positioned For Continued Operational Success And Growth
VANCOUVER, BC, Jan. 24, 2023 /CNW/ - Avino Silver & Gold Mines Ltd. (TSX: ASM) (NYSE: ASM) (FSE: GV6) ("Avino" or "the Company") is pleased to provide its outlo
About this update from Avino Silver & Gold Mines Ltd.
[{"type":"text","content":" VANCOUVER, BC, Jan. 24, 2023 /CNW/ - Avino Silver & Gold Mines Ltd. (TSX: ASM) (NYSE: ASM) (FSE: GV6) (\"Avino\" or \"the Company\") is pleased to provide its outlook for 2023 and a recap of the major milestones achieved in 2022. 2023 OUTLOOK Production For 2023, 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 2.8M and 3.2M silver equivalent ounces1. In addition, the Company aims to exceed the budgeted plans for 2023 through the integration of La Preciosa into the mill feed mix. Capital Budget At current metal prices capital expenditures will be paid for by operating cash flows generated from mining operations during Q4 2022 & throughout 2023. Operations Corporate Consolidated Growth Capital US$M $5.0 - $6.0 $0.5 $5.5 - $6.5 Exploration & Evaluation US$M $1.0 - $1.5 - $1.0 - $1.5 Sustaining Capital & Mine Development US$M $3.0 - $4.0 - $3.0 - $4.0 Total Capital Budget US$M $9.0 -$11.5 $0.5 $9.5 - $12.0 Growth Capital The Company's budgeted growth capital for 2023 includes expenditures at all three of its assets in Durango, all of which feature prominently in the Company's five-year growth plan. At La Preciosa, growth capital includes equipment acquisitions and procurement intended for the first phase of mine development in conjunction with the Company's internal mine plan for the Gloria and Abundancia Veins. At the Oxide Tailings Project (\"OTP\"), the Company has performed the recommended metallurgical testwork and is awaiting finalization of the results. With conclusive results, the existing Preliminary Economic Assessment (\"PEA\") will be used as the framework for a Pre-Feasibility Study (\"PFS\"). The previous PEA was released in 2017, with the details here. The Company will provide further updates on the commencement of the PFS on the OTP during the first half of 2023. Exploration & Evaluation The Company's budgeted exploration and evaluation expenditures for 2023 are focused on further drilling below Level 17 at the ET Area of the Avino Mine, where the Company successfully extended mineralization over 300 metres below the lowest level of production mining operations. A ...