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Avino Silver & Gold Mines Ltd. (TSXV:ASM,NYSEMKT:ASM) released its consolidated financial results for Q4 2015, as well as 2015 as a whole. The company reported after-tax net income of $483,424, or $0.01 per share, for the full year.
Avino Silver & Gold Mines Ltd. (TSXV:ASM,NYSEMKT:ASM) released its consolidated financial results for Q4 2015, as well as 2015 as a whole. The company reported after-tax net income of $483,424, or $0.01 per share, for the full year.
Other 2015 highlights are as follows:
- Generated revenues of $19.0 million from sales of San Gonzalo concentrates
- Mine operating income were $8.1 million
- Operating cash flows before movements in working capital to $453,878 or $0.01 per share
- Produced 3.0 million silver equivalent ounces, including 1.6 million ounces of silver, 7,083 ounces of gold and 4.7 million pounds of copper
- Total cash cost1 was $8.45 (US$6.61) per silver equivalent ounce
- All-in sustaining cost (“AISC”)1 was $12.14 (US$9.49) per payable silver ounce, a 1% reduction compared to $12.24 ($11.08) per ounce in 2014
- Average realized selling prices for silver and gold were US$15.46 and US$1,148 per ounce respectively
- Cash and cash equivalents of $7.5 million were on hand at December 31, 2015
- Invested $8.9 million in capital expenditures net of concentrate proceeds of $21.5 million from the sales of Avino mine concentrates to Samsung
Malcolm Davidson, CFO of Avino, commented:
Avino has delivered another year of strong financial and operating results. In 2015, the mining industry continued to endure challenging market conditions and depressed metal price’s however Avino, through the hard work of its team of professionals, maintained its strong financial position and increased its production and silver equivalent ounces sold. During the year we continued to build our first class fleet of mining and production equipment which has significantly contributed to our consolidated all-in sustaining cash cost of $12.14 (US$9.49) per silver equivalent ounce. We continue to believe that our financial and operational condition and our strong balance sheet have well positioned the Company to advance and meet its objectives.
Click here to read the full Avino Silver & Gold Mines Ltd. (TSXV:ASM,NYSEMKT:ASM) press release.