(Kitco News) - Today, Avino Silver & Gold Mines (TSX: ASM) reported that in Q2 2022, the company produced 649,569 silver equivalent ounces at its Avino mine in Mexico, which is an increase of 42% compared to Q1 2022.
Compared to Q1 2022, the company’s silver production increased by 37% to 225,537 oz, copper production increased by 35% to 1.6 million lbs, and gold production increased by 69% to 1,350 oz.
“The second quarter was strong operationally, and better-than-expected results were driven by higher grades from the Avino mine,” said President and CEO David Wolfin. “With an unsettled market and ongoing global inflationary concerns, our positive Q2 performance is a testament to our operations and corporate teams in Mexico and Canada. We have been optimizing underground mining processes, growing and training a local workforce, and practicing sound financial responsibility.”
Ha added, “We believe that we have strong production growth coming over the next 5 years which should coincide with a strong demand for silver and other precious metals. Despite the current downturn in metal prices, our concentrate continues to be sold at profitable levels.”
Avino is primarily a silver producer from its wholly owned Avino mine near Durango, Mexico. The company’s silver, gold and copper production remains unhedged. The company is focusing on profitable organic growth at the historic Avino property and the strategic acquisition of mineral exploration and mining properties.
