Vancouver, British Columbia--(Newsfile Corp. - June 24, 2013) - Silver-Investor.com's David Morgan interviews Avino Silver and Gold's David Wolfin, Jasman Yee, and Malcom Davidson. Avino Silver (TSXV: ASM) (NYSE MKT: ASM) 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.
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The Avino Mine was founded by the Spaniards in 1558, and by the end of the 18th Century was the largest open cut mine in the world. Avino acquired the project in 1974 and produced silver, gold, copper and lead for 27 years, before ceasing production in 2001 due to low metal prices.
Avino started commercial production at the San Gonzalo mine in October 2012 at the rate of 250 tonnes per day. The operation generated revenues of $2,255,000 for the quarter ending December 31, 2012 and $3.5 million during the first quarter of 2013. Cash cost per silver equivalent ounce during Q1 2013 was $14.74 with production totaling 191,107 ounces of silver equivalent.
In April 2013, the company opened a 2nd 250 tonne per day mill circuit, and reported production of 14,023 ounces of silver equivalent during May. Feed for the second circuit is currently being drawn from historic surface stockpiles left from the previous operation meaning it is processed without incurring any mining costs.
The company anticipates additional production by re-opening the main Avino Mine during 2014 at the rate of 1,000 tonnes per day. Prior to the mines shut down in 2001, production averaged 1.7 million ounces of silver equivalent annually during the final 3 full years of production. Avino is also continuing to examine options to process a large tailings resource left from previous operations.
The oxide tailings resource contains an additional 6.7 million ounces of silver in the inferred category and was the subject of a preliminary economic assessment in 2012.
The company recently designed its own silver coin which can be purchased by contacting the company directly.
For more information, please visit Avino's website at www.avino.com, phone 604-682-3701 or email ir@avino.com.
David Morgan is a widely recognized analyst in the precious metals industry and consults for hedge funds, high net worth investors, mining companies, depositories and bullion dealers. He is the publisher of The Morgan Report on precious metals, author of "Get the Skinny on Silver Investing", and a featured speaker at investment conferences in North America, Europe and Asia. For the latest on silver, please visit www.silver-investor.com.
InvestmentPitch.com, a multimedia company that provides a combined solution for creating and hosting financial video content, and distributing it across multiple platforms to investors and financial professionals, specializes in producing short three minute videos based on significant news releases and research reports.
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Source: InvestmentPitch Media