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Avino Silver & Gold (TSXV: ASM) Reports Financial Results for Year Ended Dec 31, 2014

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Avino Silver & Gold, symbol ASM on both the TSX Venture Exchange and the NYSE MKT, reported financial results for the year ended December 31, 2014. Earnings were $2.5 million ($2,514,169) or $0.08 per share, an increase of 196% over the previous year’s earnings of $848,000 ($848,212) or $0.03 per share. Cash flow from operations was $4.3 million for 2014 compared to $5.2 million for the previous year.

Additional Information:

Company: Avino Silver & Gold
Website: http://www.avino.com/s/Home.asp
Stock Symbol: TSXV: ASM
Date Published: Mar 25, 2015
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for InvestmentPitch.com

Avino Silver & Gold, symbol ASM on both the TSX Venture Exchange and the NYSE MKT, reported financial results for the year ended December 31, 2014. Earnings were $2.5 million ($2,514,169) or $0.08 per share, an increase of 196% over the previous year’s earnings of $848,000 ($848,212) or $0.03 per share.

Cash flow from operations was $4.3 million for 2014 compared to $5.2 million for the previous year.

Avino is one of the industry's purest silver producers and recently resumed production at its primary property in the Durango region of North Central Mexico.

Total silver equivalent production in 2014 increased to 1,342,150 silver equivalent ounces, an increase of 49% compared to 2013.

The production growth was due to several factors, such as higher feed grades and recoveries at the San Gonzalo mine, along with an increase in the operating period at the Avino Mine stockpile operation, with higher tonnage processed and higher silver feed grade, and the addition of Mill Circuit 3 in the fourth quarter.

David Wolfin, President & CEO stated: “In 2014, we delivered our third consecutive year of production growth. Looking ahead, we anticipate that 2015 will be the most productive year the company has seen in its 46 year history.”

During the year, the company realized an average of US$19.04 per ounce for silver, down from the US$22.59 reported in 2013 and US$1,266 per ounce for gold, also lower than the US$1,342 reported in 2013.

All-in sustaining cash costs during 2014 were $13.68 per silver equivalent ounce, compared to $15.89 during 2013, a decrease of 14%.

Malcolm Davidson, CFO added: "We increased our output while maintaining a low cost structure thanks to the hard work of our teams in Mexico and Canada. We look forward to another year of growth at Avino as we incorporate the re-opened Avino Mine and the recently acquired Bralorne Gold Mines Ltd. into our consolidated operations."

Avino is trading at $1.80 and with 35 million shares outstanding, the company is capitalized at $65 million.

For more information please visit the company’s website www.avino.com, or contact David Wolfin, President & CEO, at 604-682-3701 or email ir@avino.com.

I’m Samantha Deutscher for Investmentpitch Media
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