Avino Silver & Gold Mines Ltd.

Good day and welcome to the Avino Silver and Gold Mines Limited first quarter 2024 financial results conference call and webcast. As a reminder, all participants are on a listen only mode and this 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 one on your telephone keypad. Should you need assistance during a 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, Ma.

Thank you, Operator. Good morning, everyone, and welcome to the Avino Silver and Gold Mines Limited First Quarter 2024 Financial Results Conference Call and Webcast. To join this webcast and conference call, there's a link in our news release dated May the 1st, 2024, and in our news release of yesterday's date, which can be found on our website under News 2024. In addition, a link can be found on the homepage of the Avino website. On the call today, we have the company's president and CEO, David Wolfen, our chief financial officer, Nathan Hart, our chief operating officer, Carlos Rodriguez, and our VP technical services, Peter Latta. 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 as 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 in 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 CEDAR Plus and on ADGAR. 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 from this conference call and webcast will be available on our website. Also, please note that all figures stated are in U.S. dollars unless otherwise noted. Thank you. I will now hand over the call to Avinos President and CEO, David Wolfen. David?

Thanks, Jen. Good morning, everyone. Welcome to Avinos Q1 2024 Financial Results Conference Call and Webcast. We will cover the highlights of our financial and operating performance, and then we will go over the work that we are currently performing, followed by a Q&A. I will start with the discussion on operations, and then I will turn it over to Nathan Hart, Aveeno's CFO, to discuss the financial performance for this period, and then Jennifer North, our Head of Investor Relations, will present an overview of Q1 ESG initiatives. Please turn to slide five as we go through the production results. Our Q1 production results were released in mid-April and are as follows. Silver equivalent production was 629,000 ounces. Silver production was 251,000 ounces. Copper production was 1.3 million pounds. Gold production was just under 1,800 ounces. Mill throughput was 170,000 tons. 2024 has started strong, and we are on track to meet our production target for the year. Our first quarter production results saw a notable improvement to mill throughput of 18% compared to Q4 2023, which contributed to positive overall results. Positive developments for Q2 production include the processing of La Preciosa stockpile material through Aveeno's Mill Circuit No. Supply chain delays that started with the pandemic are improving. In addition, we are currently mining at level 15 at Elena Tolosa, which is expected to yield higher silver grades. Our five-year plan aims to increase production levels from 2.5 to 2.8 million ounces of silver equivalent in 2024 to between 8 and 10 million ounces of silver equivalent by 2029. Continuing on to slide six, we will review Q1 milestones and ongoing initiatives. Beginning with La Preciosa, we'd like to emphasize that it represents a key pillar in our transformational growth strategy and hosts a large endowment of silver and gold resources, which we expect to process for years to come. In early January, a long-term land use agreement was signed in January with the local community for the development of La Preciosa. This signals the beginning of a new era for Aveeno and the neighboring communities around La Preciosa. During the quarter, we were also able to commence hauling of old stockpiles from La Preciosa to our mill at Aveeno for processing. We have submitted the application for an environmental permit and we have been in communication with them. We anticipate that the permit will be issued in the coming year. After we are in receipt of the environmental permit, a further application for a permit will be submitted, which is required to begin construction of the portal, haulage ramp, and mining of Gloria and Abundancia veins. We anticipate receiving these permits in the coming year. Next, I will briefly touch on the pre-feasibility study on the oxide tailings project, which was completed and then announced in early February. We went through the pre-feasibility study on our Q4 call and year-end call, and I won't spend too much time on this. I will highlight the key metrics. If you would like more information, please visit the website where the information and technical report are available. The completion of the pre-feasibility study was an important key milestone for Aveeno and outlined the project's economic parameters, expected costs, and potential revenues offering a roadmap for future implementation. Highlights of the PFS include a net present value of 98 million US pre-tax and 61 million US post-tax at a 5% discount rate and an IRR of 35% pre-tax and 26% post-tax. The study also highlights proven and probable mineral reserves, a first for Aveeno's long history of 6.7 million tons of silver and gold graded 55 grams and 0.47 grams, respectfully. Next step includes community engagement and environmental impact studies. We are committed to prudent planning and strategic growth, and we will use the study to make informed decisions about project execution. Currently, La Preciosa is our top priority. At this time, I will now hand it over to Nathan Hart, Aveeno's CFO, to present Aveeno's Q1 2024 financial results. Nathan?