Avino Reports Second Quarter 2018 Financial Results
August 08, 2018
Avino Silver & Gold Mines Ltd. (ASM: TSX, ASM: NYSE American, GV6: FSE, “Avino” or “the Company”) is pleased to announce the consolidated financial results for the Company’s six months ended June 30, 2018. The Financial Statements and Management Discussion and Analysis (MD&A) can be viewed on the Company’s web site at www.avino.com, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
“We continued to deliver steady financial and operating results for the second quarter of 2018, and while our gold and silver production was lower than the comparable quarter of 2017, our copper production increased by 31%, and silver equivalent production increased by 6%” said David Wolfin, President and CEO. “We were very pleased to announce the commissioning of Mill Circuit 4 in June, which is a significant investment in Avino’s growth, and we continue to focus on completing the paste backfill engineering and we are looking forward to a future construction decision on the paste backfill plant.”
SECOND QUARTER 2018 HIGHLIGHTS
- Generated revenues of $9.2 million from the sale of bulk concentrates
- Mine operating income of $2.4 million
- Net income after taxes of $0.8 million or $0.02 earnings per share
- Produced 738,853 silver equivalent ounces1, including 323,014 ounces of silver, 1,734 ounces of gold and 1,480,830 pounds of copper
- Total consolidated cash cost2 was $9.07 per payable silver equivalent ounce1
- Consolidated all-in sustaining cost (“AISC”)2 was $10.54 per payable silver equivalent ounce1
- Working capital of $10.0 million
- Cash of $4.8 million was on hand at the end of the quarter
- Average realized selling prices for silver and gold were US$16.54 and US$1,265 per ounce, respectively, and the average realized selling price for copper was $6,939 per tonne.
Read More: https://www.avino.com/news/2018/avino-reports-second-quarter-2018-financial-results/