David Wolfin, President & CEO of Avino Silver & Gold Mines, speaks about this junior mining company with assets in Mexico and British Columbia.
I grew up in the mining business. I worked in the Avino Mine in the 80s as a teenager. Avino is unique because it’s a family run business and we take a conservative approach, long-term view and we look at the communities in which we operate in and look to help and educate them.
Avino is a low-cost, junior miner. Its flagship asset is in Mexico, we have two operating mines there with about 480 people working for us. And we have another mine located in southern British Columbia called the Bralorne Mine and we have plans to bring that into production in 2017.
Basically, when gold was at the bottom, $1,000, we acquired the Bralorne Mine in Canada. What we do is we take old projects and revamp them and then bring them back on line and then expand them, using positive cash flow.
In 2016, we produced 2.7 million silver equivalent ounces, our all in sustaining cost was $10.50 US, so we’re cash flow positive. And we expect to duplicate that this year in 2017. Recently, we announced a major expansion plan that’s going to increase the mill in Mexico by 70% production in 2017, should be similar to 2016 but in 2018 it’s going to grow significantly.
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