Q4 2024 Avino Silver & Gold Mines Ltd Earnings Call Transcript
Key Points
- Avino Silver & Gold Mines Ltd (ASM) achieved record financial results in 2024, with significant growth across key financial metrics.
- The company posted record revenues of $66.2 million for the year, a 51% increase from 2023.
- Silver equivalent production increased by 10% year-over-year, driven by improved copper and silver grades and higher mill feed.
- The company reported a strong balance sheet with a cash position of $27.3 million, a 916% increase from 2023.
- Avino received necessary permits for the underground development of La Preciosa, a significant step in their growth plan.
- The company is nearing the maximum throughput of its mill, indicating potential bottlenecks in production capacity.
- Capital expenditures were below the 2024 guidance range due to deferral of certain expenditures to 2025.
- There is uncertainty regarding the cost structure due to potential fluctuations in the Mexican peso against the US dollar.
- The ramp-up of La Preciosa's production may not contribute significantly until late 2024 or early 2025.
- The company faces potential risks associated with tariff discussions and currency fluctuations impacting operational costs.
Welcome to the Adino Silver and Goldmine's fourth quarter and year-end 2024 financial results, conference call and webcast.
(Operator Instructions)
I'd now like to turn the conference over to Jennifer North, head of investor relations. Please go ahead.
Thank you, operator. Good morning, everyone, and welcome to the Vino Silver and Gold Mines Limited fourth quarter year-end 2024 Financial results conference call and webcast. To join this webcasting call, there is a link in our news release dated March fourth and in yesterday's news release, which can be found on our website under News 2025.
In addition, a link can be found on the homepage of the Avino website. On the call today, we have the company's President and CEO David Wolfen, our Chief Financial Officer Nathan Hart, our Chief Operating Officer Carlos Rodriguez, and our VP technical Services Peter Latta.
Before we get started, please note that certain statements made today by the management team may
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