This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.
5/11/2023
Thank you for standing by. This is the conference operator. Welcome to the Aveeno Silver and Goldmine's Q1 2023 conference call and webcast. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star then 1 on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star and zero. I would now like to turn the conference over to Jennifer North, Head of Investor Relations. Please go ahead.
Thank you, operator. Good morning, everyone, and welcome to the Avino Silver and Gold Lines Limited Q1 2023 Financial Results Conference Call and Webcast. To join this webcast and conference call, there is a link in our news release dated May 3rd, which can be found on our website under News 2023. As well, you may find a link under the Investors tab, then click on Events, and you will see the link at the top of that page. On the call today, we have the company's Chief Financial Officer, Nathan Hart, our Chief Operating Officer, Carlos Rodriguez, our VP Technical Services, Peter Latta, and a recorded intro from our President and CEO, David Wolfen. Before we get started, please note that certain statements made today on this call by the management team may include forward-looking information within the meaning of applicable securities laws. Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results to be materially different than those expressed by or implied by such forward-looking statements. The company does not intend to and does not assume any obligation to update such forward-looking statements or information other than is required by applicable law. For more information, we refer you to our detailed cautionary note in the presentation related to this call or on our press release of yesterday's date. Please note that the full financial statements and MD&A are now available on our website under the Investors tab, then click on Financial Statements. As well, the full statements are available on Avino's profile on CDAR and on EDCAR. Also, please note that all figures are stated in U.S. dollars unless otherwise noted. I would like to remind everyone that this conference call is being recorded and will be available for replay later today. Replay information and the presentation slides accompanying this conference call and webcast will be available on the website. Thank you. And now we will hear from Avino's President and CEO, David Wolfen. David?
Thanks, Jen. Good morning, everyone, and welcome to Avino's Q1 2023 Financial Results Conference Call and Webcast. I'm currently marketing in Asia and have recorded this intro for the call today. I would like to make a few remarks about the first quarter and begin the presentation with the operational highlights, and then I will turn it over to Nathan Hart, Avino's CFO, to take you through the presentation, including financial performance for Q1 and any additional operational information. The first quarter highlights include the following. Avino Silver equivalent production increased 48% to 678,000 ounces compared to Q1 2022, showing consistent results that build on our successful 2022 production results. During the quarter, we announced an updated mineral resource estimate, which included La Preciosa and an inaugural mining resource estimate on Guadalupe and La Potosina deposits to boost our consolidated mineral resources to 368 million silver equivalent ounces. The full report is available on our website. Also, during the quarter, the metallurgical testing was completed on the oxide tailings project and will form the basis of the metallurgical analysis in a pre-feasibility study on the project. You can find the full news release on our website under the news tab, dated April 5th. The project has been in our portfolio for many years and factors prominently in our five-year growth plan to become an intermediate producer in Mexico. The dry stack facility is completed and operational, and during the quarter, the conveyor system was installed and is currently transporting the pressed dry tailings to Aveeno's open pit area. At La Preciosa, the company continues with its community engagement in the nearby towns adjacent to the property. We are fully committed to moving the project forward as it factors prominently into our five-year growth plan. lastly i wanted to briefly touch on the mexican mining laws that have been prevalent in the news in the last few weeks in our view we expect little economic impact to avino in the short term our concessions are good for the long term and we are watching how this unfolds over the coming months and years i will say that we are looking forward to a successful second quarter as we continue our clear path to transformational growth we believe Our five-year growth takes us from production levels of 2.8 to 3 million ounces of silver equivalent to between 8 and 10 million ounces of silver equivalent by 2028. Our initiatives for growth are development, production, and optimization of La Preciosa, the tailings project, pre-feasibility study, and eventual construction decision. further exploration drilling at Aveeno ET Mine, other exploration and evaluating regional areas on the Aveeno properties. We have laid out how each year looks with the addition of production from various areas during each year to provide growth. For further information of our clear path for growth, please visit our website and view our corporate presentation. I will now hand it over to Nathan Hart to continue with today's call and presentation of Avino's Q1 financial and operating results. Thank you all for your time today. Nathan.
You're reading a preview of the ASM Q1 2023 earnings call.
Free account.
