- March 17, 2022
- Posted by: Bastion team
- Category: World News
VANCOUVER, BC, March 16, 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 fourth quarter and year end 2021. The Financial Statements and Management’s Discussion and Analysis (MD&A) can be viewed on the Company’s web site at www.avino.com, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
“2021 was highlighted by many positive achievements for Avino, with our fourth quarter results showcasing the progress made in the restart of operations with meaningful earnings and free cash flow generation. It was a pivotal year in many respects as we restarted mining operations after an extended closure period, repaid our $10 million term facility to Samsung C&T UK, and announced the proposed acquisition of La Preciosa,” said David Wolfin, President and CEO. “Revenues, earnings and cash flow generation all increased considerably compared to all preceding quarters in 2021 and 2020, with cash costs and AISC costs showcasing these strong margins. We look forward to further encouraging production numbers and exploration drill results as we move through 2022.”
4th Quarter and FY 2021 Highlights
Strong Q4 Financial Results Following Production Restart
Highest recorded revenues since Q4 2019, with revenues of $9.3 million generating $4.4 million in mine operating income, earnings per share of $0.03 and operating cash flow generated (pre-working capital…