EX-99.07 8 exhibit7.htm EX-99.07 Exhibit  EX-99.07

British Columbia Securities Commission BC FORM 51-901F

ISSUER DETAILS:
NAME OF ISSUER FOR QUARTER ENDED DATE OF REPORT

AVINO SILVER & GOLD MINES LTD. April 30, 2001 June 28, 2001

ISSUER ADDRESS:

Suite 400, 455 Granville Street,

CITY PROVINCE POSTAL CODE ISSUER FAX NO. ISSUER TELEPHONE Vancouver, British Columbia

V6C 1T1 (604) 682-3701 (604) 682-3600

CONTACT PERSON CONTACT’S POSITION CONTACT TELEPHONE NO. Andrea Regnier Accountant/Secretary

(604) 682-3701

CERTIFICATE

The three schedules required to complete this Report are attached and the disclosure contained therein has been approved by the Board of Directors. A copy of this Quarterly Report will be provided to any shareholder who requests it.

DIRECTOR’S SIGNATURE DATE SIGNED Signed: YY/MM/DD “LOUIS WOLFIN” 01/06/28

DIRECTOR’S SIGNATURE DATE SIGNED Signed: YY/MM/DD “ERNEST CALVERT” 01/06/28

AVINO SILVER & GOLD MINES LTD.
Interim Balance Sheet As at April 30, 2001
(Unaudited – Prepared by Management)

                 
 
  April 30, 2001 $
  January 31, 2001 $
ASSETS
               
 
               
Current Assets:
               
Cash
    3,696       6,267  
Accounts receivable and prepaid expenses
    13,773       9,880  
Due from related parties (Note 7.b)
    7,703       2,057  
 
               
 
    25,172       18,204  
Mineral property interests (Note 2)
    3,238,804       3,236,838  
Investments (Note 3)
    1,552,740       1,689,347  
Other assets (Note 4)
    86,348       82,386  
 
               
 
    4,903,064       5,026,775  
 
               
LIABILITIES AND SHAREHOLDERS’ EQUITY
               
 
               
Current Liabilities:
               
Accounts payable and accrued liabilities
    165,070       131,596  
Payable to related parties (Note 7.c)
    338,035       318,358  
 
               
 
    503,105       449,954  
Debentures payable (Note 6)
    1,434,479       1,415,960  
 
               
 
    1,937,584       1,865,914  
 
               
Shareholders’ equity:
               
Capital stock (Note 5)
    12,595,199       12,595,199  
Contributed surplus
    184,967       184,967  
Deficit
    (9,712,817 )     (9,517,436 )
 
               
 
    3,067,349       3,262,730  
Deduct: 14,180 shares held for future disposition-at cost
    (101,869 )     (101,869 )
 
    2,965,480       3,160,861  
 
    4,903,064       5,026,775  

On behalf of the Board:
     Director      Director

AVINO SILVER & GOLD MINES LTD.
Interim Statement of Operations and Deficit
(Unaudited – Prepared by Management)

Three Months ended April 30

                 
    2001   2000
Revenue:
  $       $    
Interest
            251  
Equity in earnings of affiliate
            163,197  
 
               
 
            163,448  
Administrative expenses
               
Amortization of deferred financing costs
          8,088  
Accounting and audit fees
    482       4,365  
Consulting fees
    7,500       7,500  
Interest expense
    25,455       24,386  
Insurance, business license and taxes
    103       500  
Foreign exchange
    14,378        
Investor relations and Shareholder information
    123       2,136  
Legal fees
          340  
Office and administration
    6,685       5,923  
Listings and filing fees
    457        
Transfer agent fees
    373       455  
Salaries and benefits
    3,218       8,048  
 
               
Loss before the following
    (58,774 )     (61,741 )
Equity in loss of affiliate
    (136,607 )      
 
               
(Loss) net income for the period
    (195,381 )     101,707  
Deficit, beginning of period
    (9,517,436 )     (8,398,945 )
 
               
Deficit, end of period
    (9,712,817 )     (8,297,238 )
 
               
(Loss) gain per share
  $ (0.02 )   $ 0.01  
 
               

AVINO SILVER & GOLD MINES LTD.
Interim Statement of Cash Flows
(Unaudited – Prepared by Management)

Three Months ended April 30

                 
    2001   2000
 
  $       $    
CASH PROVIDED BY (USED IN)
               
 
               
Operating activities:
               
(Loss) net income for the period
    (195,381 )     101,707  
 
               
Items not involving cash:
               
Equity in loss (income) of affiliate
    136,607       (163,197 )
Amortization of deferred financing charges
          8,088  
Amortization of deferred foreign exchange
    14,557        
Finance expense
    25,455       25,386  
Interest expense on debenture payable
    (25,455 )     (25,386 )
 
               
 
    (44,217 )     (53,402 )
 
               
 
               
Changes in non-cash working capital items:
               
Amounts receivable and prepaid expenses
    (9,539 )      
Accounts payable and accrued liabilities
    33,474       59,753  
Payable to related parties
    19,677        
 
               
 
    43,612       59,753  
 
               
 
               
Investing activities:
               
Mineral property interest
    (1,966 )     (5,217 )
 
               
Increase (Decrease) in cash
    (2,571 )     1,134  
Cash, beginning of period
    6,267       5,600  
 
               
Cash, end of period
    3,696       6,734  
 
               

AVINO SILVER & GOLD MINES LTD.
Notes to Interim Financial Statements April 30, 2001
(Unaudited – Prepared by Management)

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:

                 
 
  April 30,
  January 31,
 
  3 Months   12 Month
 
               
Balance beginning of period:
  $ 3,236,838     $ 3,210,166  
Bralorne Property {r}
               
Mine power
    1,463       9,143  
Mine office
    453       6,137  
Maintenance
    50       1,306  
Liability and property insurance
          5,240  
Property taxes and assessment
          2,742  
Other
          2,104  
 
               
Balance end of period
  $ 3,238,804     $ 3,236,838  
 
               

AVINO SILVER & GOLD MINES LTD.
Notes to Interim Financial Statements, Page 2
April 30, 2001
(Unaudited – Prepared by Management)

3. Investments

Investments consist of:

                 
 
  April 30,
  January 31,
 
  3 months   12 months
 
               
 
               
Investments accounted for using the equity method:
               
Cia Minera Mexicana de Avino S.A. de C.V. (“Cia Minera”)
  $ 1,122,832     $ 1,259,439  
 
               
Investments carried at cost:
               
Bralorne-Pioneer Gold Mines Ltd.
    422,848       422,848  
Levon Resources Ltd.
    7,060       7,060  
 
               
 
  $ 1,552,740     $ 1,689,347  
 
               

4. Other Assets

a) Other assets consist of:

                 
 
  April 30,
  January 31,
 
  3 months   12 months
Deferred financing charges related to establishing Debenture payable
  $ 281,317     $ 281,317  
 
               
Deferred foreign exchange loss on debenture payable
    43,669       39,707  
 
    (281,317 )     (281,317 )
 
               
 
    43,669       39,707  
 
    42,679       42,679  
 
  $ 86,348     $ 82,386  
 
               

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  
 
               

AVINO SILVER & GOLD MINES LTD.
Notes to Interim Financial Statements, Page 3 April 30, 2001 (Unaudited – Prepared by Management)

6. Debentures payable

Debentures are recorded as follows:

                 
 
  April 30,
  January 31,
 
  3 months   12 months
 
               
Balance, beginning of period
  $ 1,415,960     $ 1,365,175  
Foreign exchange
    18,519       50,785  
 
               
Finance expense
    25,455       101,636  
 
               
Interest expense
    (25,455 )     (101,636 )
 
               
Balance, end of period
  $ 1,434,479     $ 1,415,960  
 
               

7. 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) $9,936 to a company with two common directors for reimbursement of costs incurred on behalf of the company for administrative and exploration costs.

ii) $7,500 to a private company controlled by a Director for consulting fees.

b) Included in the accounts receivable is an amount of $7,702 due from a public company with common directors.

c) Payable to related parties consist of $99,225 due to a private company controlled by two directors as disclosed in 6.a)i) above; $78,558 due to a private company controlled by a Director; $55,252 due to companies with common directors, and $105,000 due to a Director of the company for a cash loan.