Avino Reports Positive Q3 2024 Financials Amid Higher Metal Prices

Avino Silver & Gold Mines Ltd. has announced a robust financial performance for the third quarter of 2024, highlighted by a 19% increase in revenues compared to the previous year. The company reported revenues of $14.6 million and a gross profit of $5.7 million. Notably, net income rose to $1.2 million, with adjusted earnings at $5.0 million, or $0.04 per share.

Cash costs per silver equivalent ounce decreased by 12% to $14.94, while all-in sustaining cash costs reduced slightly to $22.06. Avino attributed these results to higher metal prices and a 13% boost in production from its Avino Mine. Operating cash flow reached $6.7 million before taxes, reinforcing a debt-free balance sheet.

The company also progressed with its La Preciosa project by processing historical stockpile material, expecting developments in their underground operations soon. Avino remains committed to growth and shareholder value, focusing on expanding its production capabilities.