EX-99.15 16 exhibit15.htm EX-99.15 Exhibit  EX-99.15

British Columbia Securities Commission
BC FORM 51-901F

                         
ISSUER DETAILS:
  FOR QUARTER ENDED
  DATE OF REPORT
 
                       
NAME OF ISSUER
   
   
 
                       
Avino Silver & Gold Mines Ltd
  April 30, 2002
  July 15, 2002
 
                       
ISSUER ADDRESS:
   
   
 
                       
Suite 400-455 Granville Street
   
   
 
                       
CITY   PROVINCE
  POSTAL CODE   ISSUER FAX NO.
  ISSUER TELEPHONE NO.
 
                       
Vancouver   B.C.
  V6C 1T1   (604) 682-3600
  (604) 682-3701
 
                       
CONTACT PERSON
  CONTACT’S POSITION
  CONTACT TELEPHONE NO.
 
                       
Andrea Regnier
  Accountant
  (604) 682-3701
 
                       
Website:
   
  E-mail:
 
                       
www.avino.com
   
  dawnpacific@telus.net
 
                       
 
   
   

CERTIFICATE

The three schedules required to complete this Quarterly 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:
  02/07/15
 
   
“LOUIS WOLFIN”
 
 
   
DIRECTOR’S SIGNATURE
  DATE SIGNED
 
   
Signed:
  02/07/15
 
   
“ERNEST CALVERT”
 

AVINO SILVER & GOLD MINES LTD.
Consolidated Balance Sheet
April 30, 2002

                 
    April 30,   January 31,
    2002   2002
 
  $       $    
ASSETS
               
 
               
Current assets:
               
Cash
          1,317  
Accounts receivable and prepaid expenses
    7,148       8,242  
Due from related parties (Note 6.b)
    35,059       35,059  
 
               
 
    42,207       44,618  
Due from Bralorne-Pioneer Gold Mines Ltd.
    129,922       129,922  
Mineral property interests (Note 4)
    1,602,775       1,600,000  
Investment in Mexican affiliate
    1       1  
Investments in related companies
    427,084       427,084  
Other assets
    37,843       37,843  
 
               
 
    2,239,832       2,239,468  
 
               
LIABILITIES AND SHAREHOLDER’S EQUITY
               
 
               
Current Liabilities:
               
Accounts payable and accrued liabilities
    85,362       71,618  
Payable to related parties (Note 6.c)
    351,587       331,812  
Bank indebtedness
    169        
 
               
 
    437,118       403,430  
Debentures payable
    1,632,331       1,629,171  
 
               
 
    2,069,449       2,032,601  
 
               
Shareholders’ equity:
               
Capital stock (Note 5)
    12,931,788       12,931,787  
Contributed surplus
    184,967       184,967  
Deficit
    (12,844,503 )     (12,808,018 )
 
               
 
    272,252       308,736  
Deduct: 14,180 shares held for future disposition-at cost
    (101,869 )     (101,869 )
 
               
 
    170,383       206,867  
 
               
 
    2,239,832       2,239,468  
 
               

On behalf of the Board:

“Louis Wolfin”
     Director
“Ernest Calvert”
     Director
AVINO SILVER & GOLD MINES LTD.
Consolidated Statement of Operations and Deficit
April 30, 2002

                 
    3 months   3 months
    April 30,   April 30,
    2002   2001
 
  $       $    
 
               
Administrative expenses
               
Accounting and audit fees
    13,154       482  
Consulting fees
    7,500       7,500  
Interest expense
    26,180       25,455  
Insurance, business license and taxes
          103  
Foreign exchange
    (23,019 )     14,378  
Investor relations and Shareholder Information
    2,654       123  
Legal fees
    4,572          
Listings and filing fees
    3,673       457  
Office and administration
    35       6,685  
Transfer agent fees
    1,737       373  
Salaries and benefits
          3,218  
 
               
(Loss) net income before the following:
    (36,486 )     (58,774 )
Equity in loss of affiliate
          (136,607 )
 
               
(Loss) net income for the period
    (36,486 )     (195,381 )
Deficit, beginning of period
    (12,808,018 )     (9,517,436 )
 
               
Deficit, end of period
    (12,844,504 )     (9,712,817 )
 
               
(Loss) gain per share
  $ (0.01 )   $ (0.02 )
 
               

1

AVINO SILVER & GOLD MINES LTD.
Statement of Cash Flows
April 30, 2002

                 
    3 months   3 months
    April 30,   April 30,
    2002   2001
 
  $       $    
PROVIDED BY (USED IN)
               
 
               
Operating activities:
               
(Loss) net income for the period
    (36,486 )     (195,381 )
 
               
Items not involving cash:
               
Equity in loss (income) of Affiliate
          136,607  
Amortization of deferred foreign exchange
            14,557  
Finance expense
            25,455  
Foreign exchange
    (23,019 )      
Interest expense on debenture payable
    26,180       (25,455 )
Write-down of investments
               
 
    (33,325 )     (44,217 )
 
               
Changes in non-cash working capital items:
               
Amounts receivable and prepaid expenses
    1,094       (9,539 )
Accounts payable and accrued liabilities
    13,745       33,474  
Due to related parties
    19,775       19,677  
 
               
 
    (1,289 )     (605 )
 
               
 
               
Investing activities:
               
Mineral property interest
    2,775       (1,966 )
 
               
Increase (Decrease) in cash
    (1,486 )     (2,571 )
Cash, beginning of period
    1,317       6,267  
Cash, end of period
    (169 )     3,696  
 
               

2

AVINO SILVER & GOLD MINES LTD.
Notes to Consolidated Financial Statements
April 30, 2002

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. Basis of Presentation

These unaudited interim financial statements have been prepared in accordance with the instructions for the preparation of such financial statements contained in the CICA Handbook Section 1751. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such instructions. These unaudited financial statements should be read in conjunction with the audited financial statements and notes thereto for the year ended January 31, 2001.

3. Comparative Figures

Certain of the prior years comparative figures have been reclassified to conform to the presentation adopted for the current year.

4. Mineral Properties

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

                 
    2002   2001
Balance beginning of period:
  $ 1,600,000     $ 3,236,838  
 
               
Bralorne Property {r}
               
Mine power
    877       1,463  
Mine office
    193       453  
Mine Maintenance
    755       50  
Salaries
    950          
Staking and prospecting
             
 
               
Balance end of period
    2,775       1,966  
 
               
 
  $ 1,602,775     $ 3,238,804  
 
               

AVINO SILVER & GOLD MINES LTD.
Notes to Interim Financial Statements, Page 2
April 30, 2002

4. Mineral properties, continued

On November 23, 1998, the Company granted Coral Gold Corp. a company with Directors in common, an option to earn 50% of the Company’s 50% interest in the Bralorne and Loco properties and in the Avino-Bralorne joint ventures. In order to earn its interest, Coral paid $500,000 on acquiring the option, paid $200,000 in the year ended January 31, 2000 and is required to make further payments of $200,000 per year until 2003, and $250,000 in 2004. The Company has not received the required payment.

Subsequent to the period, on June 6, 2002 Coral gave notice to the Company of their intent to abandoned the option.

On June 10, 2002 the Company transferred its interest in the project to Bralorne-Pioneer Gold Mines Ltd. in consideration of $1 and Bralorne assuming the full amount of the debenture principal and interest payable under the terms of the debentures.

5. Share Capital

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

                 
    Shares   Amount
Balance, beginning of period
    5,463,525     $ 12,931,788  
 
               
Issued during the period {r}
               
Balance, end of period
    5,463,525     $ 12,931,788  
 
               

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) $2,775 to a company with two common directors for the following:

ii) $7,500 (2001-$7,500) to a private company controlled by a Director for consulting fees.

b) Due from related parties comprise $35,059 due from companies with common directors for exploration expenses.

c) Due to related parties consist of

i) $268,390 due to a private company controlled by two directors as disclosed in 9.a)i) above;

ii) $27,922 due to a private company controlled by a Director;

iii) $52,500 due to a Director of the company.

3