Avino Silver & Gold Mines Ltd. ((ASM: TSX/NYSE American; FSE: GV6”) a long-standing silver producer in Mexico, announces its consolidated financial results for the Company’s fourth quarter and year ended December 31, 2023.

Fourth Quarter 2023 Financial Highlights

Revenues of $12.5 million
Mine operating income of $2.6 million, $3.6 million net of non-cash costs of sales
Net Income of $0.6 million
Earnings before interest, taxes, depreciation and amortization (“EBITDA”)3 of $1.1 million
Adjusted earnings3 of $2.0 million
Cash costs per silver equivalent ounce payable sold1,2,3 of $15.04
All in sustaining cash costs per equivalent payable ounce sold1,2,3 of $21.67
Full Year 2023 Financial Highlights

Revenues of $43.9 million
Mine operating income of $7.8 million, $11.1 million net of non-cash costs of sales
Net Income of $0.5 million
Earnings before interest, taxes, depreciation and amortization (“EBITDA”)3 of $2.5 million
Adjusted earnings3 of $4.6 million
Cash costs per silver equivalent payable ounce sold1,2,3 of $15.61
All in sustaining cash costs per silver equivalent payable ounce sold1,2,3 of $21.87
Cash of $2.7 million at December 31, 2023
Working capital3 of $9.7 million at December 31, 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.

“The fourth quarter showed steady improvement with positive net income and reduced operating costs,” said Nathan Harte, Chief Financial Officer. “With lower per ounce costs and improved margins, we are well positioned for 2024. With costs stabilizing in Mexico, our team has worked diligently to preserve our cost structure. Working capital has improved throughout the year, up to close to $10 million at the end of the year and we remain confident in our plans to move forward with La Preciosa without significant capital spending.”

“Cash management remains top of mind and Avino, like other Mexican miners in 2023, experienced inflationary pressures coupled with a stronger Mexican Peso. This environment proved challenging, said David Wolfin, President and CEO. “However, through strong cost control measures across the Company, we have been able to moderately lower costs over the last quarter. We continue to focus on our growth goals and have recently made significant progress with our plans for La Preciosa, our development stage mineral property which hosts a large undeveloped primary silver resource in Mexico, which is located adjacent to Avino’s existing operations in Durango, Mexico. The addition of La Preciosa’s mineral resource inventory significantly increased Avino’s consolidated NI 43-101 mineral resources, which is currently 371 million silver equivalent ounces.”

Financial Highlights see & read more on
https://avino.com/news/2024/avino-achieves-43.9-million-in-revenues-for-2023-fourth-quarter-costs-trending-lower/