President & CEO of Avino Silver & Gold (ASM:TSX.V), David Wolfin, talks about the company’s accomplishments in 2015 and what the future holds.
We’re a junior silver and gold producer. The primary asset’s in Durango, Mexico, the Avino mine, and we have two mines operating on that property and we are processing ore at the Avino mill.
2015 was a big year for us. We announced that we increase production by a 116 percent and our costs are below $10 US per ounce so we are one of the lowest cost primary silver producers out there.
The company is waiting for permits to build the new tailings facility and once we can decommission the current tailings facility, left behind at the bottom, there is 6.5 million ounces of silver and about 40,000 ounces of gold.
We recently received $10 million US from Samsung, we’re an official supplier to them. They put their seal of approval on it and now our raw materials are making into their fine products.
The company is now diversified with the acquisition of the Bralorne mine in British Columbia, geo-politically and by adding gold to our portfolio. We’re looking to use positive cash flow to explore the property and ultimately expanding the output in the operation.
What sets us apart from our peer group is that we are a low cost pure silver play but now we’re diversified with gold production. We’ve been around since 1968 so we’ve got longevity and a good management team and we’re looking to grow our operation.