Day: August 8, 2018

Jorge A. Ganoza, President and CEO, commented, “Our financial results for the second quarter of 2018 continue to reflect San Jose´s strong silver and gold production during the year resulting in the Company´s record adjusted EBITDA for the second quarter and first half of 2018 of $35.2 million and $67.0 million.” Mr. Ganoza concluded, “Free cash flow for the second quarter and first half of 2018, excluding Lindero construction costs, totaled $9.1 million and $28.0 million. This attests to the capacity of our business to translate high margins into free cash flow, contributing significantly to our strong liquidity position.”

“We continued to deliver steady financial and operating results for the second quarter of 2018, and while our gold and silver production was lower than the comparable quarter of 2017, our copper production increased by 31%, and silver equivalent production increased by 6%” said David Wolfin, President and CEO. “We were very pleased to announce the commissioning of Mill Circuit 4 in June, which is a significant investment in Avino’s growth, and we continue to focus on completing the paste backfill engineering and we are looking forward to a future construction decision on the paste backfill plant.”

“Our operations continue to generate robust cash flow with mine operating earnings up 22% compared with the same quarter last year,” said Michael Steinmann, President and Chief Executive Officer of the Company. “We are realizing the benefits of increased throughput from the expansions of our La Colorada and Dolores mines, in addition to strong performance and low costs across all our other mines during the quarter.”