The following is a summary of the Avino Silver & Gold Mines Ltd. (ASM) Q2 2024 Earnings Call Transcript:
Financial Performance:
For Q2 2024, Avino reported record revenues of $14.8 million, a significant increase anchored by strong silver production.
Gross profit was reported at $4.7 million with a cash basis gross profit of $5.9 million, highlighting a cash margin near 40%.
Net income was posted at $1.2 million or $0.01 per share, with adjusted earnings of $4.3 million or $0.03 per share.
Business Progress:
During Q2 2024, silver production increased by 26% year-over-year to 293,000 ounces, and total silver equivalent production was 617,000 ounces.
The company successfully processed 10,000 tonnes from La Preciosa stockpile with excellent recovery rates, which is a crucial element in their growth strategy.
Avino remains on track with its five-year plan to increase production up to 10 million ounces of silver equivalent by 2029.
Continued progress on environmental and permitting preparation for La Preciosa mining operations.
Opportunities:
The company's significant growth plan for La Preciosa, an increasing stockpile processing volume, and anticipation of higher production capacity following the reception of necessary permits.
Risks:
A slight production impact was noted due to repairs on a cone crusher, affecting the total mill throughput and hence operational efficiency for a brief period.
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
