The following is a summary of the Avino Silver & Gold Mines Ltd. (ASM) Q3 2024 Earnings Call Transcript:
Financial Performance:
Avino Silver & Gold Mines reported Q3 2024 revenue of $14.6 million with a record gross profit of $5.7 million.
Net income was $1.2 million, or $0.01 per share, with adjusted earnings of $5 million, or $0.04 per share.
Operating cash flow was $4.1 million, with mine operating cash flows before taxes at $6.7 million, representing a 45% margin.Ending the quarter with $7.8 million cash on hand and a working capital of almost $16 million.
Business Progress:
Production ramp-up led to 671,000 ounces of silver equivalent production; silver production increased by 19% to 282,000 ounces.
Resolved ore crushing issues from previous months and continued processing of La Preciosa historical stockpile material.
Secured final approvals to proceed with underground development at La Preciosa, aiming to increase production to 8-10 million ounces of silver equivalent by 2029.
Opportunities:
With higher realized metal prices and improved unit operating costs, demonstrated strong cash operating margins and potential increased yields from better-than-expected recoveries at La Preciosa.
Risks:
Operational risks include the urgency of mining at La Preciosa to process heightened grade material and reliance on mine operating cash flow which is sensitive to silver price changes.
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