Avino Silver & Gold Mines reports Q4 adjusted EPS 2c vs. 3c last year

Reports Q4 revenue $12.5M vs. $14.7M last year. “Q4 showed steady improvement with positive net income and reduced operating costs,” said Nathan Harte, CFO. “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 $10M 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, 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.”