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AVINO REPORTS Q2 2022 FINANCIAL RESULTS
Zeitungsständer (Symbolbild).
© AdrianHancu / iStock Editorial / Getty Images Plus / Getty Images
PR Newswire
VANCOUVER, BC, Aug. 10, 2022
Strong Cost Management and Higher Production For the Quarter
Results in Solid Revenues and Lower Cash Costs
VANCOUVER, BC, Aug. 10, 2022 /PRNewswire/ - Avino Silver & Gold Mines Ltd. (TSX: ASM) (NYSE American: ASM) (FSE: GV6) ("Avino" or "the Company") released today its consolidated financial results for the Company's second quarter 2022. The Financial Statements and Management's Discussion and Analysis (MD&A) can be viewed on the Company's website at www.avino.com, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
"We delivered steady financial and operating results for the second quarter of 2022, highlighted by solid revenues and mine operating income," said David Wolfin, President and CEO. "Even with global inflationary pressures, we have demonstrated strong operational achievements at Avino that have generated $9.4 million in revenues and $3.9 million in mine operating income, with earnings per share of $0.02, operating cash flow and adjusted earnings per share of $0.02, and free cash flow of $1.2 million. Our cash costs and AISC were lower this quarter as a result of greater ounces sold, and higher production in Q2 compared to Q1, 2022. We were also thrilled to announce promising drill results from the Oxide Tailings project and the Avino ET area below the Level 17 mining area. It has been an eventful quarter and, we are looking forward to continued progress during the second half of the year."
2nd Quarter 2022 Highlights
Strong Q2 2022 Financial Performance with Solid Revenues and Mine Operating Income
- Solid revenues and mine operating income, with revenues of $9.4 million and mine operating income of $3.9 million, earnings per share of $0.02, and adjusted earnings and operating cash flow generated (pre-working capital adjustments) per share of $0.02.
Avino ET Area Drill Results Confirms Continuity at Depth and Significantly Higher Copper Mineralization
- On June 13, 2022, the Company announced the assay results from six drill holes that were completed below the current Level 17 mining area, including 206 AgEq g/t over 41.0 metres, including 4,527 AgEq g/t over 0.19 metres. These results confirm that mineralization continues at depth and contains significantly higher copper mineralization. A second drill has been added to this program and will include a further 13 drill holes for a total of 7,000 metres
Advanced the Oxide Tailings Project
- With the release of the results from a total of 127 drill holes that continue to highlight the potential to expand resources, the Company is moving forward with a comprehensive metallurgical test work program to advance this project to the next phase of development.
Working Capital & Liquidity at June 30, 2022
- The Company's cash balance at June 30, 2022, totaled $12.8 million compared to $24.8 million at December 31, 2021. Working capital totaled $14.3 million at June 30, 2022, compared to $31.6 million at December 31, 2021. Cash and working capital have increased on a net basis by $3.3 million and $3.0 million, respectively, following the upfront consideration payment of $15.3 million and addition of $5 million note payable to Coeur for the acquisition of La Preciosa.
Second Quarter 2022 Financial Highlights
- Revenues of $9.4 million
- Mine operating income of $3.9 million, $4.4 million net of non-cash depreciation and depletion
- Net income of $2.3 million, or $0.03 per share
- Cash costs per silver equivalent payable ounce sold1 - $8.39 per ounce
- All in sustaining cash cost per silver equivalent payable ounce sold1 - $15.95 per ounce
- Earnings before interest, taxes, depreciation and amortization ("EBITDA")1 of $4.1 million
- Adjusted earnings1 of $2.5 million, or $0.03 per share
- Operating cash flows (before working capital changes) of $2.5 million, or $0.02 per share1
- Free cash flow1 of $1.2 million
Financial Highlights
| HIGHLIGHTS (Expressed in 000's of US$) | Second | Second | Change | YTD 2022 | YTD 2021 | Change | ||||
| Financial Operating Performance | | | | |||||||
| Revenues | $ | 9,370 | $ | - | 100 % | $ | 20,420 | $ | 29 | NM% |
| Mine operating income (loss) | $ | 3,902 | $ | (1,017) | 484 % | $ | 8,646 | $ | (1,697) | 610 % |
| Net income (loss) | $ | 2,283 | $ | (2,654) | 186 % | $ | 2,929 | $ | (4,472) | 165 % |
| Earnings (loss) before interest, taxes and amortization ("EBITDA")1 | $ | 4,108 | $ | (2,866) | 243 % | $ | 6,886 | $ | (4,606) | 249 % |
| Adjusted earnings (losses)1 | $ | 2,474 | $ | (778) | 418 % | $ | 5,824 | $ | (1,722) | 438 % |
| Cash flow from operations before working capital changes | $ | 2,504 | $ | (1,353) | 285 % | $ | 6,156 | $ | (2,466) | 352 % |
| Per Share Amounts | | | | |||||||
| Earnings (loss) per share | $ | 0.02 | $ | (0.03) | 167 % | $ | 0.03 | $ | (0.05) Werbung Mehr Nachrichten zur Avino Silver & Gold Mines Aktie kostenlos abonnieren
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