Avino Silver & Gold (TSX: ASM) saw production slip in the third quarter to 580,780 silver equivalent ounces, a decline of 13% year over year and 10% quarter over quarter. Despite the slip, the company commented that they remain on track for current 2025 guidance.
Production in the third quarter consisted of 263,231 ounces of silver, 1,935 ounces of gold, and 1.3 million pounds of copper. Production declines were exhibited in both silver (-7%) and coper (-26%) on a year over year basis, while gold production improved by 19%. In a similar vein, recoveries also slipped for silver and copper, by 6% and 8%, respectively, while gold recoveries improved by 7% to 69%.
The production decline was attributed to lower feed grades across all metals as a lower grade section of the mine plan was entered. Silver grades slipped from 63 g/t to 52 g/t, while gold grades fell from 0.46 g/t to 0.43 g/t, and copper grades fell from 0.58% to 0.39%. The declines were offset by a 21% increase in mill feed availability, with 188,757 tonnes processed over the quarter.
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“This quarter’s results reflect the natural variability in our mining sequence, but our overall performance remains solid, and we’re on track to meet our annual production guidance range,” commented Avino CEO David Wolfin on the results. Annual guidance currently calls for 2.5 to 2.8 million silver equivalent ounces of production in 2025.
The company ended the quarter with US$55 million in cash on hand, versus US$37 million in cash on hand as of the end of the second quarter.
Full financial results are slated to be released after the close of markets on November 6.
Avino Silver & Gold last traded at $7.33 on the TSX.
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