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Avino Announces Q4 and Full Year 2019 Production Results
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PR Newswire
VANCOUVER, Jan. 16, 2020
VANCOUVER, Jan. 16, 2020 /PRNewswire/ - Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American, GV6: FSE, "Avino" or "the Company") announces its fourth quarter and full year 2019 production results from its Avino property near Durango, Mexico.
Consolidated Production Highlights for Q4, 2019 (Compared to Q4, 2018)
- Silver equivalent production decreased by 15% to 608,640 oz*
- Gold production increased by 3% to 2,032 oz
- Silver production decreased by 23% to 220,804 oz
- Copper production increased by 1% to 1,389,515 lbs
Consolidated Production Highlights for 2019 (Compared to 2018)
- Silver equivalent production decreased by 16% to 2,397,042 oz*
- Gold production decreased by 15% to 6,912 oz
- Silver production decreased by 25% to 958,811 oz
- Copper production increased by 3% to 4,970,254 lbs
| * In Q4, 2019, AgEq was calculated using metals prices of $17.31 oz Ag, $1,482 oz Au and $2.73 lb Cu. In Q4, 2018, AgEq was calculated using metals prices of $14.55 oz Ag, $1,229 oz Au and $2.80 lb Cu. Calculated figures may not add up due to rounding. |
| * In 2019, AgEq was calculated using metals prices of $16.20 oz Ag, $1,393 oz Au and $2.96 lb Cu. In 2018, AgEq was calculated using metals prices of $15.71 oz Ag, $1,270 oz Au and $2.96 lb Cu. |
The silver equivalent production in Q4 2019 decreased by 15% compared to Q4 2018 and directly corresponds to the marginal amount of production San Gonzalo contributed due to the mine's planned stoppage. However, overall production results were higher compared to Q3 2019 due to the Avino mine performing well from a grade, throughput and mill availability perspective. The Avino Historic Above Ground ("AHAG") material also performed well throughout the quarter.
In lockstep, the decrease in silver production and consolidated silver grade in 2019, compared to 2018, can also be attributed to the decreasing grade and planned shutdown at San Gonzalo.
The Mexican mining industry has not been immune to the civil unrest, labour disputes and uncertain economic conditions that has been seen across Latin America, but Avino continues to work closely with all stakeholders and communities surrounding the Avino mine, to avoid any disruptions and ensure continuous efficient operation. Avino continues to value its employees, contractors, suppliers and managers for the professional and fair conduct.
"During Q4 2019 we achieved higher production compared to Q3 2019, due to the higher grades at the Avino Mine achieved during the month of November as a result of a mine sequence that included a significant portion of a geological gold lens within the Avino mine resulting in higher gold grades sent to the mill and ultimately, recovered," said David Wolfin, President and CEO. "In addition, some metallurgical improvements made earlier in the year have improved gold recovery. Although Avino's full year 2019 production results were lower compared to 2018, they were within our internal expectations of between 2.4 million and 2.6 million silver equivalent ounces. I'm very proud of all the work we were able to accomplish in 2019 and I want to personally thank all the Avino personnel for their efforts. We look forward to a prosperous 2020 and a more expansive exploration program across our property in and around the Avino mine."
2020 Production
As discussed last quarter, Avino is expected to transition full production from the Avino mine as San Gonzalo is now exhausted and only a small amount of AHAG material remains. In developing the underground connection between the two portals, required for efficient underground traffic and an increased rate of material being brought to the surface, Avino has experienced some delays due to some training shortages for certain equipment. This connection is planned to be completed in the first quarter of 2020 so that full production from the Avino mine can be achieved.
Consolidated Production Tables
| Q4 2019 | |||||
| Production by Mine | Tonnes Processed | Silver | Gold | Copper | AgEq |
| Avino | 107,310 | 153,644 | 1,676 | 1,293,508 | 495,496 |
| San Gonzalo | 2,908 | 4,106 | 26 | - | 6,964 |
| Historic Above Ground Stockpiles | 78,218 | 63,054 | 330 | 96,007 | 106,180 |
| Consolidated | 188,436 | 220,804 | 2,032 | 1,389,515 | 608,640 |
| YTD 2019 | |||||
| Production by Mine | Tonnes Processed | Silver | Gold | Copper | AgEq |
| Avino | 427,147 | 510,270 | 4,473 | 4,563,195 | 1,656,091 |
| San Gonzalo | 56,179 | 153,372 | 580 | - | 215,148 |
| Historic Above Ground Stockpiles | 306,334 | 295,169 | 1,859 | 407,059 | 525,803 |
| Consolidated | 789,660 | 958,811 | 6,912 | 4,970,254 | 2,397,042 |
| |
| *During the three months and year ended December 31, 2019, the Company produced 958 and 20,412 AgEq oz, respectively, of zinc by-product concentrate which has been included in the "San Gonzalo" production category above. |
| |
| * In Q4, 2019, AgEq was calculated using metals prices of $17.31 oz Ag, $1,482 oz Au and $2.73 lb Cu. In Q4, 2018, AgEq was calculated using metals prices of $14.55 oz Ag, $1,229 oz Au and $2.80 lb Cu. Calculated figures may not add up due to rounding. |
| *In 2019, AgEq was calculated using metals prices of $16.20 oz Ag, $1,393 oz Au and $2.96 lb Cu. In 2018, AgEq was calculated using metals prices of $15.71 oz Ag, $1,270 oz Au and $2.96 lb Cu. |
| Q4 2019 | ||||||
| Grade & Recovery by Mine | Grade | Grade | Grade | Recovery | Recovery | Recovery |
| Avino | 51 | 0.64 | 0.62 | 87% | 76% | 89% |
| San Gonzalo | 53 | 0.38 | - Werbung Mehr Nachrichten zur Avino Silver & Gold Mines Aktie kostenlos abonnieren
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