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FINANCE LEASE OBLIGATIONS
12 Months Ended
Dec. 31, 2020
Note 15 - FINANCE LEASE OBLIGATIONS

The Company has entered into office space and mining equipment leases expiring between 2021 and 2025, with interest rates ranging from Nil% to 14.99% per annum. The Company has the option to purchase the mining equipment at the end of the lease term for a nominal amount. The Company’s obligations under finance leases are secured by the lessor’s title to the leased assets. As at December 31, 2020, plant, equipment and mining properties includes a net carrying amount of $1,087 (December 31, 2019 - $2,697) for this leased mining equipment.

 

The contractual maturities and interest charges in respect of the Company’s finance lease obligations are as follows:

 

 

 

December 31,

 

 

December 31,

 

 

 

2020

 

 

2019

 

Not later than one year

 

$

213

 

 

$

716

 

Later than one year and not later than five years

 

 

301

 

 

 

444

 

Later than five years

 

 

-

 

 

 

28

 

Less: Future interest charges

 

 

(28

)

 

 

(54

)

Present value of lease payments

 

 

486

 

 

 

1,134

 

Less: current portion

 

 

(208

)

 

 

(692

)

Non-current portion

 

$

278

 

 

$

442

 

 

The Company has a master credit facility with an equipment supplier for a total of $5,000. The facility is used to acquire equipment necessary for maintaining operations and exploration activities at the Avino Mine. As of December 31, 2020, the Company had $4,927 in available credit remaining under these facilities.