XML 32 R20.htm IDEA: XBRL DOCUMENT v3.23.1
RECLAMATION PROVISION
3 Months Ended
Mar. 31, 2023
RECLAMATION PROVISION  
Reclamation Provision

14.

RECLAMATION PROVISION

 

Management’s estimate of the reclamation provision at March 31, 2023, is $505 (December 31, 2022 – $445), and the undiscounted value of the obligation is $1,598 (December 31, 2022 – $1,454).

 

The present value of the obligation was calculated using a risk-free interest rate of 9.09% (December 31, 2022 – 9.65%) and an annual inflation rate of 6.04% (December 31, 2022 – 7.82%). Reclamation activities are estimated to begin in 2025 for the San Gonzalo Mine and in 2041 for the Avino Mine.

 

A reconciliation of the changes in the Company’s reclamation provision is as follows:

 

 

 

March 31,

2023

 

 

December 31,

2022

 

 

 

 

 

 

 

 

Balance at beginning of the period

 

$445

 

 

$726

 

Changes in estimates

 

 

-

 

 

 

(364)

Unwinding of discount related to continuing operations

 

 

11

 

 

 

44

 

Effect of movements in exchange rates

 

 

49

 

 

 

39

 

Balance at end of the period

 

$505

 

 

$445