EX-99.2 3 exhibit2.htm EX-99.2 Exhibit  EX-99.2

AVINO SILVER & GOLD MINES LTD.

CONSOLIDATED INTERIM BALANCE SHEET

October 31, 2000

(Unaudited — Prepared by Management)

ASSETS

                 
    2000   1999
 
  $       $    
Current assets
               
Cash
    14,930       10,287  
Accounts Receivable
    8,437       16,360  
Due from related parties (Note 6)
    5,736       565,167  
 
               
 
    29,103       591,814  
Mining properties (Note 2)
    3,233,020       3,209,883  
Investments (Note 3)
    2,381,028       2,319,783  
Other assets (Note 4)
  $ 93,138     $ 204,914  
 
               
 
    5,736,289       6,326,394  
 
               

LIABILITIES

                 
Current Liabilities
               
Accounts payable and accrued liabilities
    392,459       257,476  
Debenture payable
    1,365,175       1,328,244  
 
               
 
    1,757,634       1,585,720  
 
               

SHAREHOLDERS’ EQUITY

                 
Share Capital (Note 5)
    12,595,199       12,780,959  
Contributed Surplus
    184,967          
Deficit
    (8,699,642 )     (7,938,416 )
 
               
 
    4,080,524       4,842,543  
Deduct: 14,180 shares held for future disposition, at cost
    (101,869 )     101,869 )
 
               
 
    3,978,655       4,740,674  
 
               
 
    5,736,289       6,326,394  
 
               

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AVINO SILVER & GOLD MINES LTD.
CONSOLIDATED INTERIM STATEMENT OF OPERATIONS AND DEFICIT
For the Nine Months Ended October 31, 2000

(Unaudited — Prepared by Management)

                 
    2000   1999
 
  $       $    
Revenue
               
Equity in (loss) earning of affiliate
    (85,675 )     27,790  
Interest and other income
    421       2,286  
 
               
 
    (85,254 )     30,076  
Expenses
               
Accounting and audit
    6,365       34,030  
Amortization of deferred financing costs
    24,263       24,263  
Consulting fees
    22,500       25,214  
Legal fees
    8,816       13,293  
Office services & supplies
    17,460       21,804  
Investor relations & communications
    22,900       18,597  
Transfer agent
    8,676       8,475  
Salaries & benefits
    22,052       31,584  
Travel & accommodation
    3,460       3,935  
Filing & listing fees
    1,340       2,018  
Interest expense
    74,753       74,461  
Foreign exchange (gain)
            (2,517 )
Insurance & taxes
    2,858       (1,811 )
 
               
 
    (215,443 )     (253,346 )
 
               
Net (loss) income for period
    (300,697 )     (223,270 )
Deficit, beginning of year
    (8,398,945 )     (7,715,146 )
 
               
Deficit, end of year
    (8,699,642 )     (7,938,416 )
 
               

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AVINO SILVER & GOLD MINES LTD.
CONSOLIDATED INTERIM STATEMENT OF CHANGES
IN FINANCIAL POSITION
For the Nine Months Ended October 31, 2000

(Unaudited — Prepared by Management)

                 
    2000   1999
 
  $       $    
Operating Activities
               
Gain (loss) for the period
    (300,697 )     (223,346 )
 
               
Items not involving cash:
               
Amortization
    24,263       24,263  
Share of loss (income) from affiliated company
    85,675       (27,790 )
 
               
 
    (190,759 )     (226,873 )
Changes in non-cash working capital
    620,791       (144,099 )
 
               
 
    430,032       (370,972  
 
               
Investing Activities
               
Debentures
            (23,184 )
Resource properties
    (22,854 )     246,156  
 
               
Marketable Securities
    (397,848 )      
 
               
 
    (420,702 )     222,972  
 
               
Financing Activities
               
Debenture payable
            (17,530 )
Issuance of shares
            35,063  
 
               
 
            23,563  
 
               
Increase (decrease) in cash and equivalents
    9,330       (124,437 )
Cash, beginning of period
    5,600       134,724  
 
               
Cash, end of period
    14,930       10,287  
 
               

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AVINO SILVER & GOLD MINES LTD.
NOTES TO CONSOLIDATED INTERIM FINANCIAL STATEMENT
October 31, 2000

1. Summary of significant accounting policies

Joint Venture

Investments in joint ventures are accounted for by the proportionate consolidation method. At the balance sheet date the Company had a 50% interest in a joint venture with Bralorne-Pioneer Gold Mines Ltd. The accompanying financial statements include the Company’s proportionate share of the assets, liabilities and expenses of the joint venture.

2. Mineral Properties

Exploration and development expenditures incurred during the period are as follows:

                 
Balance beginning of period:
          $ 3,210,166  
Bralorne Property {r}
               
Mining supplies
    65          
Meals, accommodation & transportation
    529          
Taxes, assessment & licenses
    2,553          
Mine power
    5,113          
Mine office
    3,455          
Insurance
    9,255          
Maintenance
    1,884       22,854  
 
               
Balance end of period
          $ 3,233,020  

3. Investments

         
Investments consist of:
       
Investments accounted for using the equity method:
       
Cia Minera Mexicana de Avino S.A. de C.V. (“Cia Minera”)
  $ 1,944,060  
Investments carried at cost:
       
Bralorne-Pioneer Gold Mines Ltd.
    422,848  
Levon Resources Ltd. 14,120
  $ 2,381,028  
 
       

     

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4. Other Assets

a) Other assets consist of:

         
Deferred financing charges related to establishing debenture payable
  $ 281,317  
Accumulated amortization
    (264,442 )
 
       
 
    16,875  
 
       
Deferred foreign exchange loss on debenture payable
    33,584  
 
       
 
    50,459  
Term deposits
    42,679  
 
       
 
  $ 93,138  
 
       

  b)   During the period the Company received 1,591,392 common shares of Bralorne-Pioneer Gold Mines Ltd., a public company with common directors, in settlement of $640,632 of debt.

5. Share Capital

Authorized: 25,000,000 common shares without par value Issued:

                 
    Shares   Amount
Balance, beginning of period
    4,577,686     $ 12,595,199  
 
               
Balance, end of period
    4,577,686     $ 12,595,199  
 
               

6. Related Party Transactions

Related party transactions not disclosed elsewhere in these statements are as follows:

  a)   During the period the company paid, or made provision for the future payment of the following amounts to related parties:  

  i)   $78,029 to a company with two common directors for reimbursement of costs incurred on behalf of the company for administrative and exploration costs.  

  ii)   $22,500 to a private company controlled by a Director for consulting fees.  

  b)   Included in the accounts receivable is an amount of $5,736 due from a public company with common directors.  

  c)   Included in the accounts payable is an amount of $67,212 due to a private company controlled by two directors as disclosed in 6.a)i) above, and $45,252 due to companies with common directors.  

  d)   During the period a director made a loan to the Company of $105,000 which is included in the accounts payable.

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