Record Financial Performance
Avino posted robust revenues of $21.8 million, up 47% from Q2 2024, and achieved a gross profit margin of 45%, inclusive of noncash depreciation and depletion. Net income for the quarter was $2.9 million, up significantly compared to the $1.2 million in Q2 2024.
Production Milestones
The company achieved record mill throughput of 190,987 tonnes, a 36% increase from Q2 2024. Gold and copper production increased by 17% and 12% respectively, with improved gold recoveries.
Strong Balance Sheet
Avino reported over $37 million in cash at the end of June and working capital of over $40 million. Subsequent to quarter end, cash position increased to approximately $48 million.
Cost Efficiency
Cash cost per silver equivalent ounce was $15.11, down 7% from Q2 2024, and all-in sustaining cash cost was just under $21, 8% lower than Q2 2024.
Progress at La Preciosa
Development of La Preciosa is on track, with the San Fernando main access decline under construction and site services installed, marking significant progress.