Avino Silver & Gold Mines .(US:ASM)2025-11-07 17:00Financial Data and Key Metrics Changes - The company generated $21 million in revenues, up 44% from Q3 of last year, despite lower silver-equivalent ounces sold [10] - Gross profit was just shy of $10 million, with a gross profit margin of 47%, significantly improved from 39% in Q3 of last year [11] - The company achieved its highest ever quarterly profit with $7.7 million in net income after taxes, up from $1.2 million in Q3 of last year [11] - Cash position reached a record $57.3 million, up $20 million from the last quarter and $30 million from the end of the year [13] - Working capital increased by over $10 million in the quarter [14] Business Line Data and Key Metrics Changes - The operational excellence driver included advancements in automation and process upgrades, leading to strong mill performance and sustained throughput [5] - The acquisition of outstanding royalties and contingent payments on La Preciosa improved project economics and operational flexibility [6] - The company reported positive assay results from drilling at La Preciosa, with significant grades indicating potential for further resource capture [8] Market Data and Key Metrics Changes - Avino was included in the Toronto Stock Exchange 2025 TSX 30, ranking fifth among top-performing companies, with a share price performance increase of 610% over three years [9] - The company was added to the Market Vectors Junior Gold Miners Index and VanEck's Junior Gold Miners ETF (GDXJ) [9] Company Strategy and Development Direction - The strategic vision focuses on transitioning from a single production operation to a multi-asset Mexican mid-tier producer [4] - The company aims to execute a five-year organic growth plan, with La Preciosa processing material and plans for further exploration and drilling [14][26] - The company is committed to integrating AI technology to improve data analysis and exploration efficiency [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's financial stability and growth potential, emphasizing the importance of operational discipline and market recognition [7][45] - The management highlighted the positive impact of hedging programs on financial performance, with expectations for continued benefits in the upcoming quarters [19] Other Important Information - The company reported a cash cost per silver-equivalent ounce of $17.06, up 14% from Q3 last year, with all-in sustaining costs at $24.06 per ounce, a 9% increase [12][17] - The company is focused on community engagement through various CSR initiatives, including health fairs and educational sponsorships [20][21] Q&A Session Summary Question: What is the targeted throughput rate from La Preciosa over the next few quarters? - The company is starting with one circuit and plans to ramp up to two circuits next year [29] Question: Can you provide insights on drilling results at La Preciosa? - The company is seeing significant high-grade results and improvements in width, with intervals beyond typical mining widths [32] Question: What factors will determine when La Preciosa will be reported as commercial production? - Revenue will be reported offset with cost of sales as soon as sales begin, following IFRS standards [39] Question: What is the maximum tonnage per day that can be processed from La Preciosa? - The mill is limited to 2,500 tons per day, and the company is contemplating an expansion [41]