Avino Silver & Gold Mines Ltd.

Welcome to the Adeno Silver and Goldmine's fourth quarter and year-end 2024 financial results conference call and webcast. As a reminder, all participants are in a 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, you may signal an operator by pressing star and 0. I'd 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 Goldline Summited Fourth Quarter and Year-End 2024 Financial Results Conference Call and Webcast. To join this webcasting call, there is a link in our news release dated March 4th and in yesterday's news release, which can be found on our website under News 2025. 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 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. The full financial statements and MD&A are now available on our website under the Investors tab and then click on Financial Statements. In addition, the full statements are available on Avino's profile on CDR Plus and on EDGAR. 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 the call over to Aveeno's President and CEO, David Wolfen. David?

Thanks, Jen. Good morning, everyone, and welcome to Aveeno's Q4 and year-end 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 doing, followed by a Q&A. I'll start with the discussion on operations, and then I will turn it over to Nathan Hart, Avino's CFO, to discuss the financial performance for the period, and then Jennifer North, our Head of Investor Relations, will present an overview of Q4 CSR ESG initiatives. Please turn to slide 5 for Q4 and full year 2024 highlights. Avino and the entire team delivered an exceptional performance in 2024, achieving record financial results and a strong operational execution with full year guidance being realized after a very strong Q4. The company posted record revenues and significant growth across key financial metrics. reflecting higher production, cost efficiencies, and strong metal prices. Nathan will provide an overview of the financials, but I want to take a moment to recognize that our success in 2024 is a result of years of strategic focus and dedication to our growth plan. Seeing these positive outcomes is truly inspiring, and I reflect on the many individuals who have contributed to guiding us along the way. The outstanding year is not just a milestone, it's a stepping stone towards even greater achievements for Aveeno. Our balance sheet is currently at a record high of $27.3 million, which is 916% higher than 2023 and represents the highest in company history. At the start of the year, we shared fantastic news that the underground development at La Preciosa had commenced following the receipt of all necessary permits for mining operations. This milestone is a significant step forward in our growth plan and a clear demonstration of our commitment to delivering on our goals. On the topic of permits and the regulatory environment, just last week at the Mexico Mining Forum at PDEC, There appeared to be fresh optimism for the mining industry under President Claudia Scheinbaum's administration. We view this as a positive step for existing and future mining in Mexico. Moving on to slide 6, we turn to our Q4 and year-end production results that were released in mid-January and were as follows. silver equivalent production increased by 32%. Aveeno produced almost 736,000 silver equivalent ounces in Q4 2024, representing a 32% increase from Q4 2023. The increase was driven by improved gold grades and increased mill throughput. Mill throughput increased 26%. We processed 182,000 tons in Q4 2024, a 26% increase compared to Q4 2023, and the highest quarter in the company's history. Mill availability and performance is a result of considerable efforts from our operations team in Durango, allowing for meaningful improvements in operational metrics, as well as improving the company's cash and working capital positions. Gold production increased by 76%. Q4 2024, production of 2,560 gold ounces represented 76% increase compared to Q4 2023 and was our highest quarter of gold production in 2024. Improved feed grade accounted for the majority of the increase alongside the mill availability noted above. Slide seven. Turning to slide seven, you will see on a yearly basis silver equivalent production increased 10%. Aveeno produced 2.6 million silver-equivalent ounces in 2024, representing a 10% increase from 2023. The positive movement was primarily due to the improved copper and silver grades, improved copper recoveries, and higher mill feed compared to 2023. In addition, the company also had improvement in its health and safety performance and reports a reduction in lost-time incident frequency rate of 32% for 2024, down to 3.39 per 1 million hours worked, while seeing an increase in hours worked by 47% at the Aveeno operations. Reportable lost time in incident frequency rate also decreased to 0.07, down over 90% from 2023. Now moving on to slide 8. We'll review our Q4 operational updates beginning with the Aveeno mine. The Aveeno mine achieved its guidance target of between 2.5 to 2.8 million silver equivalent ounces at 2.65 million ounces for 2024. Higher realized metal prices for silver, gold, and copper in Q4 assisted in the strong financial and operating margins with records in most financial metrics and significant free cash flow generation. 2025 has begun positively with consistent production in the first months of the year. Moving on to La Preciosa. As mentioned earlier, in January, we announced the receipt of necessary approvals to move ahead with the underground development at La Preciosa, one of the largest undeveloped silver deposits in Mexico and the world. Equipment mobilization and surface works have been ongoing with underground development getting underway. La Preciosa is an integral piece to our five-year plan and will deliver economic growth and benefit to the local communities in Durango. Please turn to slide nine where we have photos of recent development activities and surface works and delivery of equipment. We are very pleased with the swift advancement at La Preciosa. At this time, I will now hand it over to Nathan Hart, Avino CFO, to present our record-breaking Q4 and year-end 2024 financial results. Nathan?