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Avino Silver & Gold Mines' Q1 Silver Equivalent Production Drop 10% YoY

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Avino Silver & Gold Mines' (ASM.TO) silver equivalent production fell 10% year over year in the first quarter, the company said Thursday.

Avino produced 568,112 silver equivalent ounces in three months ended March 31, dropping from 631,249 silver equivalent ounces produced in the same period a year ago.

Silver production inched down 1% year over year to 263,057 ounces, gold production dropped 17% to 1,851 ounces, and copper production sank 16% to 1.3 million pounds.

The production decline reflects planned mining sequencing into lower-grade areas, which has been planned for the first quarter, the company said.

"With elevated silver prices, we expect revenues to significantly outperform our budget, reflecting both strong metal prices and operational performance," President and Chief Executive Officer David Wolfin said.

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