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RECLAMATION PROVISION | 6 Months Ended
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Jun. 30, 2021
Note 13 - RECLAMATION PROVISION |
13. | RECLAMATION PROVISION
| Management’s estimate of the reclamation provision at June 30, 2021, is $839 (December 31, 2020 - $808), and the undiscounted value of the obligation is $1,285 (December 31, 2020 - $1,275).
| The present value of the obligation was calculated using a risk-free interest rate of 5.96% (December 31, 2020 - 5.96%) and an inflation rate of 3.15% (December 31, 2020 - 3.15%). Reclamation activities are estimated to begin in 2023 for the San Gonzalo Mine and in 2041 for the Avino Mine.
| A reconciliation of the changes in the Company’s reclamation provision for the six months ended June 30, 2021, and the year ended December 31, 2020, is as follows:
|  | June 30, 2021 |  |  | December 31, 2020 |
Balance at beginning of the period |  | $ | 808 |  |  | $ | 1,524 |
Changes in estimates |  |  | - |  |  |  | (737 | )
Unwinding of discount related to continuing operations |  |  | 23 |  |  |  | 99 |
Effect of movements in exchange rates |  |  | 7 |  |  |  | (78 | )
Balance at end of the period |  | $ | 838 |  |  | $ | 808 |

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- Definition The disclosure of provisions. [Refer: Provisions] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2020-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2020-en-r&anchor=para_10_e&doctype=Standard -URIDate 2020-01-01 + Details
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