Avino Silver & Gold ( (ASM) ) has released its Q3 earnings. Here is a breakdown of the information Avino Silver & Gold presented to its investors.
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Avino Silver & Gold Mines Ltd., a prominent silver producer operating in Mexico, is known for its unhedged production of silver, gold, and copper, with a focus on sustainable and profitable mining operations.
In its recent earnings report for the third quarter of 2024, Avino Silver & Gold Mines Ltd. reported a substantial increase in revenues, amounting to $14.6 million, marking a 19% improvement from the same period in the previous year. The company also highlighted enhanced cash generation and a strong balance sheet with no debt.
Key financial metrics from the quarter include a net income of $1.2 million and an adjusted earnings figure of $5.0 million. The company also reported an EBITDA of $3.8 million and reduced cash costs per silver equivalent ounce by 12%. These results were driven by higher metal prices and significant production increases, particularly in copper production, which rose by 55% compared to the previous year.
Looking ahead, Avino is optimistic about achieving its growth objectives, particularly with the advancement of the La Preciosa project. The company’s management remains focused on increasing production and maintaining cost efficiencies, which they believe will continue to deliver value to shareholders as they move into the fourth quarter and beyond.
