Avino Silver and Gold's David Wolfin is Interviewed by David Morgan of The Morgan Report - Video Posted on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - June 15, 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 is a silver and gold producer with a diversified pipeline of gold, silver and base metals properties in Mexico and Canada employing approximately 500 people. Avino produces from its wholly owned Avino and San Gonzalo Mines near Durango, Mexico, and is currently planning for future production at the Bralorne Gold Mine in British Columbia, Canada. The Company's gold and silver production remains unhedged.
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The company released the following highlights for the quarter ended March 31, 2017.
Generated revenues of $8.1 million from the sale of concentrates, a 306% increase from the first quarter of 2016 due to the commencement of production mining at the Avino mine during the second quarter of 2016.
Mine operating income of $3.5 million, a 168% increase compared to the first quarter of 2016.
Net income after taxes of $0.7 million or $0.01 per share.
Working capital of $21.1 million.
Net earnings of $1.1 million.
Produced 604,643 silver equivalent ounces1, including 320,082 ounces of silver, 1,837 ounces of gold and 1,024,853 pounds of copper.
Consolidated all-in sustaining cost ("AISC")2 was $9.55 per payable silver equivalent ounce, a 16% increase compared to $8.22 per ounce in the first quarter of 2016.
Average realized selling prices for silver and gold were US$17.38 and US$1,218 per ounce, respectively.
Cash of $7.7 million and short term investments (term deposits) of $10 million on hand at the end of the quarter.
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.
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.
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