AVINO SILVER & GOLD MINES LTD
For the period ended Dec 31, 2023. Filed Mar 29, 2024.
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The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.
FY2023 · Filed Mar 29, 2024
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Contents
EX-99.3 · Commitments
Commitments
The Company has a cost sharing agreement to reimburse Oniva for a percentage of its overhead expenses, to reimburse 100% of its out-of-pocket expenses incurred on behalf of the Company, and to pay a percentage fee based on Oniva’s total overhead and corporate expenses. The agreement may be terminated with one-month notice by either party. Transactions and balances with Oniva are disclosed in Note 12 of the consolidated financial statements.
The Company and its subsidiaries have various operating lease agreements for their office premises, use of land, and equipment. Commitments in respect of these lease agreements are as follows:
| December 31, 2023 | December 31, 2022 | |
|---|---|---|
| Not later than one year | $714 | $105 |
| Later than one year and not later than five years | 1,241 | 347 |
| Later than five years | 3,965 | 398 |
| $5,920 | $850 |
Office lease payments recognized as an expense during the year ended December 31, 2023, totalled $29 (December 31, 2022 - $18).
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MANAGEMENT’S DISCUSSION AND ANALYSIS FOR THE YEAR ENDED DECEMBER 31, 2023
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