Avino Silver & Gold Mines

Avino Reports $12.4 Million in Revenues in Q1 2024; Improves on Unit Costs
May 8, 2024

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 first quarter of 2024.

First Quarter 2024 Financial Highlights

   Revenues of $12.4 million
   Gross Profit (mine operating income) of $2.3 million, $3.1 million net of non-cash costs of sales
   Net income of $0.6 million
   Earnings before interest, taxes, depreciation and amortization (“EBITDA”)3 of $1.7 million
   Adjusted earnings3 of $2.0 million, or $0.02 per share
   Cash costs per silver equivalent payable ounce sold1,2,3 of $14.89
   All in sustaining cash costs per silver equivalent payable ounce sold1,2,3 of $20.23

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.

“In the first quarter, we continued to show steady improvement with positive net income, cash flow generation and reduced operating costs,” said Nathan Harte, Chief Financial Officer. “Unit costs and margins have improved compared to 2023, as our team has diligently worked to preserve our cost structure, as evidenced by increases to working capital of 92% since Q1 2023, and growth in our cash position of 29% since year end. Further, with stronger pricing seen subsequent to the end of the quarter in all three of our production metals, the outlook for the rest of 2024 remains very positive. Finally, we want to reiterate our confidence in our plans to advance La Preciosa with limited capital spending and look forward to updating the market on progress.”

“We have successfully implemented robust cost control strategies, despite the challenges posed by inflationary pressures, resulting in a gradual reduction in costs during the first quarter,” said David Wolfin, President and CEO. “In addition, our first quarter production results saw a notable improvement to mill throughput of 18% compared to Q4 2023, which contributed to positive overall results. Our commitment to achieving growth targets remains unwavering. We are enthusiastic with the recent advancements in the development of La Preciosa, a mineral property in its development stage boasting a substantial untapped primary silver resource in Mexico. Situated near to Avino’s established operations in Durango, Mexico, the integration of La Preciosa’s mineral resource inventory has notably bolstered Avino’s overall NI 43-101 mineral resource portfolio to a current total of 371 million silver equivalent ounces.”

...

https://avino.com/news/2024/...ues-in-q1-2024-improves-on-unit-costs/
 

Avino Silver & Gold Mines Ltd. Reminds Shareholders to Votein Advance of Deadline for 2024 AGM

May 22, 2024

Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American; FSE: GV6) would like to remind shareholders of Avino (the “Shareholders”) of the Company’s upcoming Annual General Meeting of Shareholders (the “Meeting”), to be held on Thursday, May 30, 2024, at 10:00 AM PT. Shareholders are advised to vote their shares well in advance of the proxy voting deadline on Tuesday, May 28, 2024, at 10:00 AM PT.

YOUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU HOLD
PLEASE VOTE YOUR SHARES TODAY

THE BOARD OF DIRECTORS RECOMMENDS THAT SHAREHOLDERS VOTE FOR ALL PROPOSED RESOLUTIONS

Shareholders are encouraged to read the materials relating to the Meeting, available on the Company’s website at this link: Avino 2024 AGM or on SEDAR+. In the interest of time, shareholders may vote online or by telephone in accordance with the voting instructions found on their Form of Proxy or their Voting Instruction Form.

Shareholder Questions or Voting Assistance

Shareholders who have questions or need assistance with voting are encouraged to contact the Company’s proxy solicitation agent, Laurel Hill Advisory Group, as follows:

Laurel Hill Advisory Group
North America Toll Free: 1-877-452-7184
Outside North America: 1-416-304-0211
Email: assistance@laurelhill.com

https://avino.com/news/2024/...e-in-advance-of-deadline-for-2024-agm/  

Avino Reports Voting Results of its 2024 Annual General Meeting and Announces Retirement of Board Member Jasman Yee


May 30, 2024
Related Document

   View News PDF

Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American, GV6: FSE) is pleased to report that at the Annual General Meeting of shareholders (“AGM”) of the Company held on May 30, 2024, all resolutions proposed to shareholders were duly passed. 46,123,595 common shares of the Company, representing approximately 34.71% of the Company’s issued and outstanding common shares as at the record date were voted.

The following briefly describes the matters voted upon and the outcome of the votes at the meeting:

...

https://avino.com/news/2024/...retirement-of-board-member-jasman-yee/  

4. März 2025

Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American; FSE: GV6), ein langjähriger Silberproduzent in Mexiko, plant, seine Finanzergebnisse für das vierte Quartal und das Jahresende 2024 nach Börsenschluss am Dienstag, den 11. März 2025, bekannt zu geben.

Darüber hinaus wird das Unternehmen am Mittwoch, den 12. März 2025, um 08:00 Uhr PDT (11:00 Uhr EDT) eine Telefonkonferenz und einen Webcast abhalten .

https://avino.com/news/2025/...ings-release-date-and-conference-call/  

11.März 2025

Avino erzielt Rekord-Finanzergebnis für 2024; Verbesserungen bei wichtigen Finanzkennzahlen,
Kasse auf Allzeithoch:

https://avino.com/news/2025/...ial-metrics-treasury-at-all-time-high/

 

Avino Achieves Record Financial Performance for 2024; Improvements across Key Financial Metrics, Treasury at All-Time High
March 11, 2025

Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American; FSE: GV6) a long-standing silver producer in Mexico, announces its audited consolidated financial results for the fourth quarter and year ended December 31, 2024. All amounts are in U.S. dollars unless stated otherwise.

Fourth Quarter 2024 Financial Highlights (compared to Q4 2023)

Record Revenues: The Company realized revenues of $24.4 million, an increase of 95%, driven by increased production and higher realized silver and gold prices in the quarter
Record Gross Profit: Gross profit, or mine operating income, was $10.5 million and represented an increase of 308%. The significant improvement was a result of items noted related to revenues, as well as meaningful unit cost reductions and currency movements between the US dollar and Mexican Peso.
Record Cash Flow Generation: The Avino Mine delivered cash provided by operating activities of $15.6 million, up over 2,000%, as well as mine operating cash flows before taxes3 of $11.9 million, up 230%.
Record Earnings and Adjusted Earnings: The Company realized net income of $5.1 million, or $0.03 per share, up 804%, and adjusted earnings3 of $10 million, or $0.07 per share, an increase of 405%. Earnings before interest, taxes, depreciation and amortization (“EBITDA”)3 was $9.1 million, up 712%
Improved Costs per Ounce Metrics: Cash costs per silver equivalent payable ounce sold1,2,3 was $13.88 and all-in sustaining cash costs per silver equivalent payable ounce sold1,2,3 was $18.62, down 8% and 14%, respectively.

Full Year 2024 Financial Highlights (compared to FY 2023)

All-Time High in Cash Strength: Cash balance of $27.3 million, an increase of 916%. This represents the highest balance in the Company’s history and positions the Company to execute on its organic growth plans.
Record Revenues: The Company realized revenues of $66.1 million, an increase of 51%, driven by improved production and sales volumes, as well as higher realized metal prices in 2024
Record Gross Profit: Gross profit, or mine operating income, was $23.2 million and represented an increase of 197%.
Record Earnings and Adjusted Earnings: The Company realized net income of $8.1 million, or $0.06 per share, with adjusted earnings3 up 364% at $21.3 million, or $0.15 per share. EBITDA3 rose significantly and was $18 million, up 620%.
Record Cash Flow Generation: The Avino Mine delivered cash provided by operating activities of $23.1 million, up over 1400%. Mine operating cash flow before taxes3 of $27.6 million, an increase of 150%
Improved Costs per Ounce Metrics: Cash costs per silver equivalent payable ounce sold1,2,3 came in at $14.84, down 5% and all-in sustaining cash costs per silver equivalent payable ounce sold1,2,3 was $20.57, down 6%.

“In the fourth quarter, we delivered record financial performance driven by higher metal prices and increased production from our Avino Mine,” said Nathan Harte, Chief Financial Officer. “With records set in revenues and cash flow generation, our operating margins further strengthened our debt-free balance sheet to record highs. On the cost side, our operating costs decreased and further increased margins, allowing record free-cash flow generation. Our focus continues to be on growth and delivering additional value to our shareholders through disciplined and organic growth as outlined in our 5-year plan. With over $27 million in cash to close out the year, we are well-positioned for the future.”

“Avino delivered an outstanding performance in 2024, achieving record financial results, strong operational execution, and benefiting from a supportive market environment,” said David Wolfin, President and CEO. “The Company posted record revenues and significant growth across key financial metrics, reflecting higher production, cost efficiencies, and strong metal prices. Our record-breaking year would not have been possible without the dedication, expertise, and hard work of our operational teams and employees across the company. Their commitment to excellence, teamwork, and innovation has been instrumental in achieving these milestones. On behalf of our leadership, thank you for your efforts and contributions—your work continues to drive Avino’s success. With a solid financial foundation, strong operational performance, and positive market trends, Avino is well-positioned for continued growth and value creation in 2025 and beyond.”
...
https://avino.com/news/2025/...ial-metrics-treasury-at-all-time-high/  

Avino Achieves Another Quarter of Record Financial Performance for Q1 2025
May 13, 2025

Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American; FSE: GV6) a long-standing silver producer in Mexico, announces its audited consolidated financial results for the first quarter of 2025. All amounts are in U.S. dollars unless stated otherwise.

“Avino started off 2025 the same way we ended 2024, achieving another quarter of record financial results and strong operational execution,” said David Wolfin, President and CEO. “The Company posted record earnings and continues to demonstrate strength across key financial metrics, as our operating margins further strengthened our debt-free balance sheet with record highs in working capital. Our operating costs decreased for another consecutive quarter and further increased margins, where we delivered record quarterly earnings. Looking forward to growth, I am thrilled with the development progress at La Preciosa, as we continue to work towards being a multi-asset producer. I would like to thank our operations team for continuing to deliver positive cost improvements, your dedication to the entire operation does not go unnoticed. With strong operational performance, a healthy cash position, and record working capital of over $31 million, Avino is well-positioned to capitalize on positive market trends in the precious metals sector. We remain disciplined and committed to our organic growth strategy. Backed by our financial strength, management is actively exploring opportunities to accelerate our expansion plans. We are focused and on track to deliver sustainable growth and long-term value for all stakeholders and shareholders.”

First Quarter 2025 Financial Highlights (compared to Q1 2024)

   Record Quarterly Net Income: Net income after taxes was $5.6 million, or $0.04 per share, a meaningful increase from $0.6 million, or $0.00 per share. Net income was also 10% higher than the $5.1 million realized in Q4 2024.
   Robust Revenues: Avino realized revenues of $18.8 revenue, representing a 52% increase from Q1 2024, primarily as a result of increased metal prices and consistent production. At the end of the quarter, there was $5.6 million in concentrate sales receivable, that was settled subsequent to quarter end.
   Record Quarterly Gross Profit: Gross profit, or mine operating income, was $10.6 million and represented an increase of 352%. The significant improvement was a result of meaningful unit cost reductions and currency movements between the US dollar and Mexican Peso and builds off the $10.5 million generated in Q4 2024.
   Strong EBITDA and Adjusted Earnings: The Company realized earnings before interest, taxes, depreciation and amortization, or EBITDA, of $9.7 million, up 466% and 7%, from Q1 2024 and Q4 2024, respectively. Adjusted earnings3 was $9.8 million, or $0.07 per share, an increase of 374% from Q1 2024 and a decrease of 2% from Q4 2024.
   Improved Costs per Ounce Metrics: Cash costs per silver equivalent payable ounce sold1,2,3 was $12.62, and all-in sustaining cash costs per silver equivalent payable ounce sold1,2,3 was $20.08, a reduction of 15% and 1%, respectively.
   Increased Working Capital from Cash Flow Prior to Working Capital Movements: The Company’s balance sheet continued to strengthen with working capital1 increasing to $31.3 million, up $6.1 million, or 24% from $25.2 million at the end of 2024, as a result of another quarter of cash generation. Cash provided by operating activities of $0.8 million was impacted by working capital movements, with $6.6 million in working capital movements, primarily in increases to amounts receivable from sales, concentrate and stockpile inventory, as well as income tax payments in Mexico during the quarter. Prior to working capital movements, cash generated from operating activities was $7.4 million, or $0.05 per share.

...

https://avino.com/news/2025/...ord-financial-performance-for-q1-2025/  

Avino Reports Voting Results of Its 2025 Annual General Meeting and Elects New Director; Files Final Base Shelf Prospectus
May 27, 2025

Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American, GV6: FSE) is pleased to report the voting results for its Annual General Meeting of shareholders (“2025 AGM”) held on Tuesday, May 27, 2025, in Vancouver, British Columbia. All resolutions proposed to shareholders were duly passed.

A total of 55,398,446 common shares of the Company, representing approximately 38.59% of the Company’s issued and outstanding common shares as of the record date were voted. Shareholders voted in favour of all matters brought before the 2025 AGM. The specific voting results were as follows:

...

https://avino.com/news/2025/...tor-files-final-base-shelf-prospectus/
 

Avino Renews ATM Equity Program
June 13, 2025

Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American, GV6: FSE; “Avino” or the “Company”) announces that it has filed a prospectus supplement dated June 13, 2025 (the “Prospectus Supplement”) to the Company’s short form base shelf prospectus dated May 26, 2025 (the “Shelf Prospectus”) with the securities commissions in each of the provinces and territories of Canada, with the exception of Québec, pursuant to which the Company may, at its discretion and from time to time, distribute common shares (the “Offered Shares”) pursuant to a sales agreement dated June 13, 2023 (the “Sales Agreement”) with Cantor Fitzgerald & Co. (the “Designated Agent”), H.C. Wainwright & Co. LLC, Roth Capital Partners, LLC, and A.G.P./Alliance Global Partners (collectively, with the Designated Agent, the “Agents”), as agents or as principals, for the distribution of the Offered Shares in the United States (the “ATM Offering”) up to the aggregate sales amount of US$40 million (the “Maximum Amount”). A corresponding prospectus supplement has been filed with the United States Securities and Exchange Commission (the “SEC”).

“We have re-established the ATM Offering after the previous offering expired in May 2025, and it will be used strategically as an additional source of financial flexibility if required, subject to regulatory requirements,” said David Wolfin, Avino’s President and CEO.

The ATM Offering is being made in the United States under the terms of a registration statement on Form F-10, as amended and filed with, and declared effective on May 28, 2025, by the SEC in the United States, and the Shelf Prospectus and Prospectus Supplement filed in each province and territory of Canada, except Quebec; the Registration Statement, Shelf Prospectus and Prospectus Supplement being collectively, the “Prospectus”). Prospective investors should read the Prospectus (including the documents incorporated by reference therein) for more complete information about the Company and the ATM Offering, including the risks associated with investing in the Company and disclosure with respect to the proposed use of proceeds of the ATM Offering.

The sales of the Offered Shares, if any, will be made directly on the NYSE American, or any other trading market for the Offered Shares in the United States or outside of Canada as otherwise agreed between the Agents and the Company, and will be deemed sales of Offered Shares under the Prospectus in transactions that are deemed to be “at-the-market distributions” as defined in National Instrument 44-102 - Shelf Distributions and Rule 415 of the Securities Act of 1933, as amended. The Offered Shares, if any, will be distributed at the market prices prevailing at the time of sale. As a result, prices may vary between purchasers and during the period of distribution. The ATM Offering will be effective until the earlier of (i) the date that the aggregate gross sales proceeds of the Offered Shares sold under the ATM Offering reaches the Maximum Amount, (ii) the receipt for the Shelf Prospectus ceasing to be effective in accordance with applicable securities laws, and (iii) the termination of the Sales Agreement in accordance with its terms. The Company has agreed to pay the Agents a cash commission up to 3.0% of the gross proceeds of the Offering. The Company is not obligated to make any sales of Offered Shares under the Distribution Agreement. There is no certainty that any Offered Shares will be offered or sold under the ATM Offering.

Copies of the Shelf Prospectus, Prospectus Supplement and Registration Statement may be obtained on request without charge from: (i) the Company at Suite 900-570 Granville St., Vancouver, British Columbia, V6C 3P1, Canada, telephone (604) 682-3701; or (ii) Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th floor, New York, New York 10022, by email at prospectus@cantor.com. You may also obtain these documents free of charge under the Company’s SEDAR+ profile at www.sedarplus.ca and on EDGAR at www.sec.gov.

The Toronto Stock Exchange has conditionally approved the listing of the Offered Shares that may be sold under the ATM Offering. The Company intends to rely on the exemption in section 602.1 of the TSX Company Manual in respect of the ATM Offering as an “Eligible Interlisted Issuer” (as such term is defined in the TSX Company Manual).

This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

https://avino.com/news/2025/avino-renews-atm-equity-program/