Vancouver, British Columbia--(Newsfile Corp. - March 8, 2017) - David Morgan of The Morgan Report interviewed David Wolfin, President and CEO of Avino Silver and Gold (TSXV: ASM) (NYSE MKT: ASM) (FSE: GV6).
Avino Silver & Gold Mines Ltd. was established in 1968, and was one of the first foreign-owned junior mining companies to enter Mexico following the revolution that took place between 1910 - 1920.
The Avino mine operated under partnership for 27 years, and during that time produced 16 million ounces of silver, 96,000 ounces of gold and 24 million pounds of copper from both open pit and underground mining. Avino subsequently acquired full control of the mine in 2006 and is now one of the industry's lowest cost silver producers.
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The company released the following highlights for the quarter ended December 31, 2016.
- Generated revenues of $12.0 million from the sale of San Gonzalo and Avino concentrates
- Mine operating income amounted to $3.5 million an increase of 141% over the same period of 2015
- Net income after taxes amounted to $1.2 million or a Basic EPS of $0.03
- Produced 707,775 silver equivalent ounces, including 419,355 ounces of silver, 2,581 ounces of gold and 755,645 pounds of copper
- Total consolidated cash cost was $11.50 (US$8.62) per payable silver ounce
- Consolidated all-in sustaining cost was $13.36 (US$10.01) per payable silver equivalent ounce, a 5% increase compared to $12.70 (US$9.51) per ounce in the fourth quarter of 2015
- Average realized selling prices for silver and gold were US$16.69 and US$1,194 per ounce respectively
- Cash of $15.8 million and short term investments consisting of cash of $13.4 million was on hand at the end of the quarter
David Morgan is a widely recognized analyst in the precious and base metals industry and consults for hedge funds, high worth investors, mining companies, depositories and bullion dealers. He is publisher of The Morgan Report on precious metals, author of the recently published "Second Chance", and featured speaker at investment conferences worldwide. For more information on precious and base metals or to subscribe to his newsletter, please visit www.themorganreport.com.
For more information, please visit Avino's website www.avino.com or contact David Wolfin, President and CEO, at 604-682-3701 or email ir@avino.com.
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