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REVENUE AND COST OF SALES

9 Months Ended

Sep. 30, 2024

13. REVENUE AND COST OF SALES

The Company’s revenues for the nine months ended September 30, 2024 and 2023, are all attributable to Mexico, from shipments of concentrate from the Avino Mine.

	Three months ended September 30,				Nine months ended September 30,
	2024		2023		2024		2023
Concentrate sales	$	13,974	$	11,599	$	40,994	$	31,429
Provisional pricing adjustments		642		717		802		(70	)
	$	14,616	$	12,316	$	41,796	$	31,359

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:

	Three months ended September 30,				Nine months ended September 30,
	2024		2023		2024		2023
Production costs	$	7,952	$	9,228	$	26,095	$	23,939
Write down of equipment and materials and supplies inventory		182		4		566		95
Depreciation and depletion		773		720		2,390		2,067
	$	8,907	$	9,952	$	29,051	$	26,101