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RECLAMATION PROVISION

6 Months Ended

Jun. 30, 2024

RECLAMATION PROVISION

RECLAMATION PROVISION

11. RECLAMATION PROVISION

Management’s estimate of the reclamation provision at June 30, 2024, is $2,104 (December 31, 2023 – $2,195), and the undiscounted value of the obligation is $5,214 (December 31, 2023 – $5,491).

The present value of the obligation was calculated using a risk-free interest rate of 9.72% (December 31, 2023 – 9.82%) and an inflation rate of 3.76% (December 31, 2023 – 3.76%). Reclamation activities are estimated to begin in 2025 for the San Gonzalo Mine and in 2042 for the Avino Mine.

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

		June 30, 2024				December 31, 2023
Balance at beginning of the period		$	2,195			$	445
Changes in estimates			-				1,615
Unwinding of discount related to continuing operations			102				49
Effect of movements in exchange rates			(193	)			86
Balance at end of the period		$	2,104			$	2,195

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- References

No definition available.

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- Definition

The disclosure of provisions. [Refer: Provisions]

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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-URIDate 2023-03-23

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