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REVENUE AND COST OF SALES

3 Months Ended

Mar. 31, 2023

16.

REVENUE AND COST OF SALES

The Company’s revenues for the three months ended March 31, 2023 and 2022, are all attributable to Mexico, from shipments of concentrate from the Avino Mine.

	March 31, 2023			March 31, 2022
Concentrate sales	$	9,992		$	9,789
Provisional pricing adjustments		(167	)		1,261
	$	9,825		$	11,050

Cost of sales consists of changes in inventories, direct costs including personnel costs, mine site costs, energy costs (principally diesel fuel and electricity), maintenance and repair costs, operating supplies, external services, third party transport fees, depreciation and depletion, and other expenses for the periods. Direct costs include the costs of extracting co-products.

Cost of sales is based on the weighted average cost of inventory sold for the periods and consists of the following:

	March 31, 2023		March 31, 2022
Production costs	$	7,304	$	5,847
Depreciation and depletion		670		459
	$	7,974	$	6,306