XML 35 R21.htm IDEA: XBRL DOCUMENT v3.23.1
RECLAMATION PROVISION
12 Months Ended
Dec. 31, 2022
RECLAMATION PROVISION  
Reclamation Provision

15. RECLAMATION PROVISION

 

Management’s estimate of the reclamation provision at December 31, 2022, is $445 (December 31, 2021 – $726), and the undiscounted value of the obligation is $1,454 (December 31, 2021 – $1,252).

 

The present value of the obligation was calculated using a risk-free interest rate of 9.65% (December 31, 2021 – 7.78%) and an inflation rate of 7.82% (December 31, 2021 – 7.36%). 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 years ended December 31, 2022 and 2021, is as follows:

 

 

 

December 31,

2022

 

 

December 31,

2021

 

 

 

 

 

 

 

 

Balance at beginning of the period

 

$726

 

 

$808

 

Changes in estimates

 

 

(364)

 

 

(105)

Unwinding of discount related to continuing operations

 

 

44

 

 

 

47

 

Effect of movements in exchange rates

 

 

39

 

 

 

(24)

Balance at end of the period

 

$445

 

 

$726