Form 6-K/A - Report of foreign issuer [Rules 13a-16 and 15d-16]: [Amend]

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K/A

 (Amendment No. 1)

 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the Month of November, 2024

 

Commission File Number: 001-35254

 

AVINO SILVER & GOLD MINES LTD.

 

Suite 900, 570 Granville Street, Vancouver, BC V6C 3P1

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

 

☐ Form 20-F    ☒  Form 40-F

 

 

Explanatory Note

 

Avino Silver & Gold Mines Ltd. (the “Company”) is furnishing this Amendment No. 1 on Form 6-K/A (the “Form 6-K/A”) to amend the Report on Form 6-K filed with the Securities and Exchange Commission on November 13, 2024 (the “Original Filing”).  This Form 6-K/A is being furnished solely for the purposes of  providing its financial information for the three and nine months ended September 30, 2024 using Inline XBRL in accordance with Section 405 of Regulation S-T and to incorporate such financial information into the Company’s registration statement referenced below. Other than as expressly set forth above, this Form 6-K/A does not, and does not purport to, amend, update or restate the information in any other item of the Original Filing, or reflect any events that have occurred after the Original Filing was originally filed.

 

Exhibits 99.1 and 99.2 attached hereto are hereby incorporated by reference into the Company’s Registration Statement on Form F-10 (Registration Statement File number 333-270315) to be a part thereof from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed.

 

Exhibits

 

The following exhibits are filed as part of this Form 6-K.

 

Exhibit No.		Document
99.1		Condensed Consolidated Interim Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Unaudited)
99.2		Management’s Discussion & Analysis
101.INS		Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document).
101.SCH		Inline XBRL Taxonomy Extension Schema Document
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document
104		Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101).

 

2

  

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	AVINO SILVER & GOLD MINES LTD.
Date: November 14, 2024	By:	/s/ Jennifer Trevitt
		Jennifer Trevitt
		Corporate Secretary

 

3

 

EXHIBIT 99.1

 

 

AVINO SILVER & GOLD MINES LTD.

 

Condensed Consolidated Interim Financial Statements

 

For the three and nine months ended September 30, 2024 and 2023

 

(Unaudited)

 

 

AVINO SILVER & GOLD MINES LTD. Condensed Consolidated Interim Statements of Financial Position (Expressed in thousands of US dollars - Unaudited)

 

		Note				September 30, 2024				December 31, 2023
ASSETS
Current assets
Cash						$	7,767			$	2,688
Amounts receivable							3,030				3,303
Amounts due from related parties			10(b)				-				167
Taxes recoverable			4				3,492				6,580
Prepaid expenses and other assets							2,403				1,971
Inventory			5				10,874				8,826
Total current assets							27,566				23,535
Exploration and evaluation assets			7				52,714				50,111
Plant, equipment and mining properties			9				53,616				53,069
Long-term investments			6				1,466				934
Other assets							4				691
Total assets						$	135,366			$	128,340
LIABILITIES
Current liabilities
Accounts payable and accrued liabilities						$	9,243			$	11,867
Amounts due to related parties			10(b)				61				-
Taxes payable							656				127
Current portion of finance lease obligations							1,563				1,650
Current portion of equipment loans							165				164
Total current liabilities							11,688				13,808
Finance lease obligations							1,351				1,445
Equipment loans							69				195
Reclamation provision			11				2,012				2,195
Deferred income tax liabilities							5,757				4,696
Total liabilities							20,877				22,339
EQUITY
Share capital			12				156,908				151,688
Equity reserves							11,424				11,041
Treasury shares							(97	)			(97	)
Accumulated other comprehensive loss							(5,331	)			(5,208	)
Accumulated deficit							(48,415	)			(51,423	)
Total equity							114,489				106,001
Total liabilities and equity						$	135,366			$	128,340

 

Commitments & Contingencies – Note 15

 

Approved by the Board of Directors on November 12, 2024.

 

Peter Bojtos

Director

David Wolfin

Director

 

The accompanying notes are an integral part of the condensed consolidated interim financial statements

 

- 1 -

 

AVINO SILVER & GOLD MINES LTD. Condensed Consolidated Interim Statements of Operations and Comprehensive Income (Loss) (Expressed in thousands of US dollars - Unaudited)

 

						Three months ended September 30,								Nine months ended September 30,
		Note				2024				2023				2024				2023
Revenue from mining operations			13			$	14,616			$	12,316			$	41,796			$	31,359
Cost of sales			13				8,907				9,952				29,051				26,101
Mine operating income							5,709				2,364				12,745				5,258
Operating expenses
General and administrative expenses			14				1,455				1,280				4,518				3,999
Share-based payments			12				531				627				1,601				1,809
Income (loss) before other items							3,723				457				6,626				(550	)
Other items
Interest and other income (loss)							(77	)			5				77				234
Gain (loss) on long-term investments			6				(268	)			(295	)			87				(899	)
Fair value adjustment on warrant liability							-				20				-				478
Foreign exchange gain (loss)							170				(234	)			342				182
Finance cost							(5	)			(3	)			(10	)			(80	)
Accretion of reclamation provision			11				(49	)			(13	)			(151	)			(36	)
Write-down of uncollectible account							(621	)			-				(621	)			-
Interest expense							(77	)			(158	)			(248	)			(275	)
Income (loss) before income taxes							2,796				(221	)			6,102				(946	)
Income taxes:
Current income tax recovery (expense)							(1,258	)			111				(2,033	)			645
Deferred income tax recovery (expense)							(369	)			(693	)			(1,061	)			280
Income tax recovery (expense)							(1,627	)			(582	)			(3,094	)			925
Net income (loss)							1,169				(803	)			3,008				(21	)
Other comprehensive income (loss)
Currency translation differences							1				230				(123	)			(346	)
Total comprehensive income (loss)						$	1,170			$	(573	)		$	2,885			$	(367	)
Income (loss) per share			12(e)
Basic						$	0.01			($0.01)				$	0.02			$	0.00
Diluted						$	0.01			($0.01)				$	0.02			$	0.00
Weighted average number of common shares outstanding			12(e)
Basic							135,070,079				122,433,272				132,925,193				120,093,760
Diluted							140,429,861				122,433,272				138,723,903				120,093,760

 

The accompanying notes are an integral part of the condensed consolidated interim financial statements

 

- 2 -

 

AVINO SILVER & GOLD MINES LTD. Condensed Consolidated Interim Statements of Changes in Equity (Expressed in thousands of US dollars - Unaudited)

 

		Note				Number of Common Shares				Share Capital Amount				Equity Reserves				Treasury Shares				Accumulated Other Comprehensive Income (Loss)				Accumulated Deficit				Total  Equity
Balance, January 1, 2023							118,349,090			$	145,515			$	9,852			$	(97	)		$	(5,223	)		$	(52,026	)		$	98,021
Common shares issued:
At the market issuances			12				5,360,300				3,597				-				-				-				-				3,597
Carrying value of RSUs exercised			12				1,005,333				1,019				(1,019	)			-				-				-				-
Issuance costs			12				-				(355	)			-				-				-				-				(355	)
Share-based payments			12				-				-				1,809				-				-				-				1,809
Options cancelled or expired															(61	)											61				-
Net loss for the period							-				-				-				-				-				(21	)			(21	)
Currency translation differences							-				-				-				-				(346	)			-				(346	)
Balance, September 30, 2023							124,714,723			$	149,776			$	10,581			$	(97	)		$	(5,569	)		$	(51,986	)		$	102,705
Balance, January 1, 2024							128,728,248			$	151,688			$	11,041			$	(97	)		$	(5,208	)		$	(51,423	)		$	106,001
Common shares issued:
At the market issuances			12 (b)				5,050,585				3,906				-				-				-				-				3,906
Exercise of options			12 (b)				561,000				572				(200	)			-				-				-				372
Carrying value of RSUs exercised			12 (d)				1,197,709				1,018				(1,018	)			-				-				-				-
Issuance costs							-				(276	)			-				-				-				-				(276	)
Share-based payments			12 (c) (d)				-				-				1,601				-				-				-				1,601
Net income for the period			12 (e)				-				-				-				-				-				3,008				3,008
Currency translation differences							-				-				-				-				(123	)			-				(123	)
Balance, September 30, 2024							135,537,542			$	156,908			$	11,424			$	(97	)		$	(5,331	)		$	(48,415	)		$	114,489

 

The accompanying notes are an integral part of the condensed consolidated interim financial statements

 

- 3 -

 

AVINO SILVER & GOLD MINES LTD. Condensed Consolidated Interim Statements of Cash Flows (Expressed in thousands of US dollars - Unaudited)

 

						Nine months ended September 30,
		Note				2024				2023
Operating Activities
Net income						$	3,008			$	(21	)
Adjustments for non-cash items:
Deferred income tax expense (recovery)							1,061				(280	)
Depreciation and depletion							2,504				2,175
Accretion of reclamation provision			11				151				36
(Gain) loss on investments			6				(87	)			899
Unrealized foreign exchange gain							(283	)			(241	)
Write down of uncollectible account							621				-
Unwinding of fair value adjustment							-				74
Fair value adjustment on warrant liability							-				(478	)
Write down of equipment and materials and supplies inventory							566				95
Share-based payments							1,601				1,809
							9,142				4,068
Net change in non-cash working capital items			16				(1,569	)			(3,201	)
Cash provided by operating activities							7,573				867
Financing Activities
Shares and units issued for cash, net of issuance costs							3,630				3,242
Proceeds from option exercise							372				-
Lease liability payments							(1,371	)			(933	)
Equipment loan payments							(126	)			(184	)
Cash provided by (used in) financing activities							2,505				2,125
Investing Activities
Exploration and evaluation expenditures							(1,920	)			(809	)
Additions to plant, equipment and mining properties							(3,112	)			(6,575	)
Acquisition of La Preciosa							-				(5,000	)
Cash used in investing activities							(5,032	)			(12,384	)
Change in cash							5,046				(9,392	)
Effect of exchange rate changes on cash							33				3
Cash, beginning							2,688				11,245
Cash, ending						$	7,767			$	1,856

 

Supplementary Cash Flow Information (Note 16)

 

The accompanying notes are an integral part of the condensed consolidated interim financial statements

 

- 4 -

 

AVINO SILVER & GOLD MINES LTD. Notes to the unaudited condensed consolidated financial statements For the nine months ended September 30, 2024, and 2023 (Expressed in thousands of US dollars, except where otherwise noted)

 

1. NATURE OF OPERATIONS

 

Avino Silver & Gold Mines Ltd. (the “Company” or “Avino”) was incorporated in 1968 under the laws of the Province of British Columbia, Canada. The Company is engaged in the production and sale of silver, gold, and copper and the acquisition, exploration, and advancement of mineral properties.

 

The Company’s head office and principal place of business is Suite 900, 570 Granville Street, Vancouver, BC, Canada. The Company is a reporting issuer in Canada (except for the province of Quebec) and the United States, and trades on the Toronto Stock Exchange (“TSX”), the NYSE American, and the Frankfurt and Berlin Stock Exchanges.

 

The Company operates the Elena Tolosa Mine (“ET Mine” or “Avino Mine”) which produces copper, silver and gold at the historic Avino property in the state of Durango, Mexico. The Avino property also hosts the San Gonzalo Mine, which is currently on care and maintenance. The Company also holds 100% interest in Proyectos Mineros La Preciosa S.A. de C.V. (“La Preciosa”), a Mexican corporation which owns the La Preciosa Property. The Company also owns interests in mineral properties located in British Columbia and Yukon, Canada.

 

2. BASIS OF PRESENTATION

 

Statement of Compliance

 

These unaudited condensed consolidated interim financial statements have been prepared in accordance with International Accounting Standard (“IAS”) 34 – Interim Financial Reporting under International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”). These unaudited condensed consolidated interim financial statements follow the same accounting policies and methods of application as the most recent annual audited consolidated financial statements of the Company. These unaudited condensed consolidated interim financial statements do not contain all of the information required for full annual consolidated financial statements. Accordingly, these unaudited condensed consolidated interim financial statements should be read in conjunction with the Company’s December 31, 2023, annual consolidated financial statements, which were prepared in accordance with IFRS as issued by the IASB.

 

These unaudited condensed consolidated interim financial statements are expressed in US dollars and have been prepared on a historical cost basis except for financial instruments that have been measured at fair value.  In addition, these unaudited condensed consolidated interim financial statements have been prepared using the accrual basis of accounting on a going concern basis. The accounting policies set out in the December 31, 2023 annual consolidated financial statements are applied consistently to all periods presented in these unaudited condensed consolidated interim financial statements as if the policies have always been in effect.

 

Foreign Currency Translation

 

Foreign currency transactions

 

Transactions in currencies other than the functional currency are recorded at the rates of exchange prevailing on the dates of the transactions. At each financial position reporting date, monetary assets and liabilities that are denominated in foreign currencies are translated at the rates prevailing at the date of the statement of financial position.  Non-monetary items that are measured in terms of historical cost in a foreign currency are not re-translated.

 

Foreign operations

 

Subsidiaries that have functional currencies other than the US dollar translate their statement of operations items at the average rate during the year. Assets and liabilities are translated at exchange rates prevailing at the end of each reporting period. Exchange rate variations resulting from the retranslation at the closing rate of the net investment in these subsidiaries, together with differences between their statement of operations items translated at actual and average rates, are recognized in accumulated other comprehensive income (loss). On disposition or partial disposition of a foreign operation, the cumulative amount of related exchange difference is recognized in the statement of operations.

 

- 5 -

 

AVINO SILVER & GOLD MINES LTD. Notes to the unaudited condensed consolidated financial statements For the nine months ended September 30, 2024, and 2023 (Expressed in thousands of US dollars, except where otherwise noted)

 

Significant Accounting Judgments and Estimates

 

The Company’s management makes judgments in its process of applying the Company’s accounting policies to the preparation of its unaudited condensed consolidated interim financial statements. In addition, the preparation of financial data requires that the Company’s management make assumptions and estimates of the impacts on the carrying amounts of the Company’s assets and liabilities at the end of the reporting period from uncertain future events and on the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates as the estimation process is inherently uncertain. Estimates are reviewed on an ongoing basis based on historical experience and other factors that are considered to be relevant under the circumstances. Revisions to estimates and the resulting impacts on the carrying amounts of the Company’s assets and liabilities are accounted for prospectively.

 

The critical judgments and estimates applied in the preparation of the Company’s unaudited condensed consolidated interim financial statements for the nine months ended September 30, 2024, are consistent with those applied and disclosed in Note 2 to the Company’s audited consolidated financial statements for the year ended December 31, 2023.

 

Basis of Consolidation

 

The audited consolidated financial statements include the accounts of the Company and its Mexican subsidiaries as follows:

 

Subsidiary	Ownership Interest	Jurisdiction	Nature of Operations
Oniva Silver and Gold Mines S.A. de C.V.	100%	Mexico	Mexican administration
Nueva Vizcaya Mining, S.A. de C.V.	100%	Mexico	Mexican administration
Promotora Avino, S.A. de C.V. (“Promotora”)	79.09%	Mexico	Holding company
Compañía Minera Mexicana de Avino, S.A. de C.V. (“Avino Mexico”)	98.45% direct 1.22% indirect (Promotora) 99.67% effective	Mexico	Mining and exploration
La Luna Silver & Gold Mines Ltd.	100%	Canada	Holding company
La Preciosa Silver & Gold Mines Ltd.	100%	Canada	Holding company
Proyectos Mineros La Preciosa S.A. de C.V.	100%	Mexico	Mining and exploration
Cervantes LLP	100%	U.S.	Holding company

 

Intercompany balances and transactions, including unrealized income and expenses arising from intercompany transactions, are eliminated in preparing the consolidated financial statements.

 

- 6 -

 

AVINO SILVER & GOLD MINES LTD. Notes to the unaudited condensed consolidated financial statements For the nine months ended September 30, 2024, and 2023 (Expressed in thousands of US dollars, except where otherwise noted)

 

3. RECENT ACCOUNTING PRONOUNCEMENTS

 

New and amended IFRS that are effective for the current year:

 

Certain new accounting standards and interpretations have been published that are either applicable in the current year, or are not mandatory for the current period and have not been early adopted. We have assessed these standards, and they are not expected to have a material impact on the Company in the current or future reporting periods.

 

4. TAXES RECOVERABLE

 

The Company’s taxes recoverable consist of the Mexican I.V.A. (“VAT”) and income taxes recoverable and Canadian sales taxes (“GST/HST”) recoverable.

 

		September 30, 2024				December 31, 2023
VAT recoverable		$	1,550			$	3,231
GST recoverable			22				20
Income taxes recoverable			1,920				3,329
		$	3,492			$	6,580

 

5. INVENTORY

 

		September 30, 2024				December 31, 2023
Process material stockpiles		$	3,482			$	4,050
Concentrate inventory			4,328				2,448
Materials and supplies			3,064				2,328
		$	10,874			$	8,826

 

The amount of inventory recognized as an expense for the three and nine months ended September 30, 2024 totalled $8,725 and $28,485 (three and nine months ended September 30, 2023 – $9,948 and $26,006). See Note 13 for further details.

 

During the nine months ended September 30, 2024, the Company wrote down Nil of materials and supplies inventory due to obsolescence (September 30, 2023 – 84).

 

- 7 -

 

AVINO SILVER & GOLD MINES LTD. Notes to the unaudited condensed consolidated financial statements For the nine months ended September 30, 2024, and 2023 (Expressed in thousands of US dollars, except where otherwise noted)

 

6. LONG-TERM INVESTMENTS

 

The Company classifies its long-term investments as designated at fair value through profit and loss under IFRS 9. Long-term investments are summarized as follows:

 

		Fair Value December 31,				Net				Movements in foreign				Fair value adjustments				Fair Value September 30,
		2023				Additions				exchange				for the period				2024
Talisker Resources Common Shares		$	782			$	-			$	(7	)		$	155			$	930
Silver Wolf Exploration Ltd. (“Silver Wolf”) Common Shares			71				426				(4	)			(46	)			447
Silver Wolf Exploration Ltd. Warrants			-				30				-				(3	)			27
Endurance Gold Corp. Common Shares			81				-				(1	)			(19	)			61
Other			-				1				-				-				1
		$	934			$	457			$	(12	)		$	87			$	1,466

 

Silver Wolf

 

During the nine months ended September 30, 2024, the Company received 2,292,000 common shares as part of debt settlement from Silver Wolf for $335 (C$458). The Company further acquired, by way of participation in Silver Wolf’s Listed Issuer Financing Exemption private placement, 833,334 units at a purchase price of C$0.15 consisting of 833,334 common shares and 416,667 non-transferable common share purchase warrants at an exercise price of C$0.25 as for a total investment of $91 (C$125). The share purchase warrants were recorded at a fair value. Any subsequent revaluation under IFRS 9 at fair value through profit and loss will be recorded as a gain or loss on long-term investments.

 

7. EXPLORATION AND EVALUATION ASSETS

 

The Company has accumulated the following acquisition, exploration and evaluation costs which are not subject to depletion:

 

		Avino,  Mexico				La Preciosa, Mexico				British Columbia & Yukon, Canada				Total
Balance, December 31, 2022		$	11,828			$	37,975			$	1			$	49,804
La Preciosa non-core concessions transfer			2,946				(2,946	)							-
Drilling and exploration			877				435				-				1,312
Assessments and taxes			88				(930	)			-				(842	)
Effect of movements in exchange rates			22				(122	)			-				(100	)
Option income			(63	)			-				-				(63	)
Balance, December 31, 2023		$	15,698			$	34,412			$	1			$	50,111
Drilling and exploration			129				1,265				-				1,394
Assessments and taxes			195				1,018				-				1,213
Effect of movements in exchange rates			(4	)			-				-				(4	)
Balance, September 30, 2024		$	16,018			$	36,695			$	1			$	52,714

 

- 8 -

 

AVINO SILVER & GOLD MINES LTD. Notes to the unaudited condensed consolidated financial statements For the nine months ended September 30, 2024, and 2023 (Expressed in thousands of US dollars, except where otherwise noted)

 

(a) Avino, Mexico

 

The Company’s subsidiary Avino Mexico owns 42 mineral claims and leases four mineral claims in the state of Durango, Mexico. The Company’s mineral claims in Mexico are divided into the following two groups:

 

(i) Avino Mine area property

 

The Avino Mine area property is situated around the towns of Panuco de Coronado and San Jose de Avino and surrounding the historic Avino mine site. There are four exploration concessions covering 154.4 hectares, 24 exploitation concessions covering 1,284.7 hectares, and one leased exploitation concession covering 98.83 hectares.

 

(ii) Gomez Palacio/Ana Maria property

 

The Ana Maria property is located near the town of Gomez Palacio, and consists of nine exploration concessions covering 2,549 hectares, and is also known as the Ana Maria property.

 

Option Agreement – Silver Wolf Exploration Ltd. (formerly Gray Rock Resources Ltd.) (“Silver Wolf”)

 

On March 11, 2021, the Company entered into an option agreement to grant Silver Wolf the exclusive right to acquire a 100% interest in the Ana Maria and El Laberinto properties in Mexico (the “Option Agreement”).

 

All exploration expenditure requirements on the properties have been met as of September 30, 2024. Future requirements remain to exercise the option and Silver Wolf is in compliance with the terms of the Option Agreement as of September 30, 2024.

 

The Option Agreement between the Company and Silver Wolf is considered a related party transaction as the two companies have directors in common.

 

Unification La Platosa properties

 

The Unification La Platosa properties, consisting of three leased concessions in addition to the leased concessions situated within the Avino mine area property near the towns of Panuco de Coronado and San Jose de Avino and surrounding the Avino Mine. 

 

In February 2012, the Company’s wholly-owned Mexican subsidiary entered into a new agreement with Minerales de Avino, S.A. de C.V. (“Minerales”) whereby Minerales has indirectly granted to the Company the exclusive right to explore and mine the La Platosa property known as the “ET zone”. The ET zone includes the Avino Mine, where production at levels intended by management was achieved on July 1, 2015.

 

Under the agreement, the Company has obtained the exclusive right to explore and mine the property for an initial period of 15 years, with the option to extend the agreement for another 5 years. In consideration of the granting of these rights, the Company issued 135,189 common shares with a fair value of C$250 during the year ended December 31, 2012.The Company has agreed to pay to Minerales a royalty equal to 3.5% of net smelter returns (“NSR”). In addition, after the start of production, if the minimum monthly processing rate of the mine facilities is less than 15,000 tonnes, then the Company must pay to Minerales a minimum royalty equal to the applicable NSR royalty based on the processing at a monthly rate of 15,000 tonnes.

 

Minerales has also granted to the Company the exclusive right to purchase a 100% interest in the property at any time during the term of the agreement (or any renewal thereof), upon payment of $8 million within 15 days of the Company’s notice of election to acquire the property. The purchase would be subject to a separate purchase agreement for the legal transfer of the property.

 

- 9 -

 

AVINO SILVER & GOLD MINES LTD. Notes to the unaudited condensed consolidated financial statements For the nine months ended September 30, 2024, and 2023 (Expressed in thousands of US dollars, except where otherwise noted)

 

(b) La Preciosa, Mexico

 

La Preciosa is a development stage mineral property located in the state of Durango, Mexico, within the municipalities of Pánuco de Coronado and Canatlán. The Project is hosting one of the largest undeveloped primary silver resources in Mexico, and is located adjacent to Avino’s existing operations at the Avino Property in Durango, Mexico. The property covers an area of approximately 1,134 hectares and is located on the eastern flank of the Sierra Madre Occidental mountain range.

 

(c) British Columbia & Yukon, Canada

 

Eagle Property - Yukon

 

The Company has a 100% interest in 14 quartz leases located in the Mayo Mining Division of Yukon, Canada, which collectively comprise the Eagle property. During the year ended December 31, 2023, the Company sold to a subsidiary of Hecla Mining Company (“Hecla”) the Eagle Property for cash consideration of C$250. The gain on sale of the Eagle Property was recorded to “Interest and other income” on the  consolidated  statements of operations and comprehensive income (loss).

 

Minto and Olympic-Kelvin properties – British Columbia

 

On May 2, 2022, the Company granted Endurance Gold Corporation the right to acquire an option to earn 100% ownership of the former Minto Gold Mine, Olympic and Kelvin gold prospects contained within a parcel of crown grant and mineral claims (the “Olympic Claims”).

 

As of September 30, 2024, Endurance was in compliance with all terms of the Option agreement.

 

8. NON-CONTROLLING INTEREST

 

At September 30, 2024, the Company had an effective 99.67% (December 31, 2023 - 99.67%) interest in its subsidiary Avino Mexico and the remaining 0.33% (December 31, 2023 - 0.33%) interest represents a non-controlling interest. The accumulated deficit and current period income attributable to the non-controlling interest are insignificant and accordingly have not been presented separately in the consolidated  financial statements. 

 

- 10 -

 

AVINO SILVER & GOLD MINES LTD. Notes to the unaudited condensed consolidated financial statements For the nine months ended September 30, 2024, and 2023 (Expressed in thousands of US dollars, except where otherwise noted)

 

9. PLANT, EQUIPMENT AND MINING PROPERTIES

 

		Mining properties				Office equipment, furniture, and fixtures				Computer equipment				Mine machinery and transportation equipment				Mill machinery and processing equipment				Buildings and construction in process				Total
		$				$				$				$				$				$				$
COST
Balance at January 1, 2023			14,687				763				774				14,930				23,294				14,693				69,141
Additions / Transfers			3,716				78				1,176				3,270				3,079				701				12,020
Writedowns			-				(6	)			(22	)			(629	)			(141	)			-				(798	)
Effect of movements in exchange rates			(28	)			9				1				2				-				(24	)			(40	)
Balance at December 31, 2023			18,375				844				1,929				17,573				26,232				15,370				80,323
Additions / Transfers			542				410				15				398				1,932				325				3,622
Writedowns			-				(23	)			(23	)			(1,339	)			(221	)			(517	)			(2,123	)
Effect of movements in exchange rates			4				(3	)			-				(1	)			-				(8	)			(8	)
Balance at September 30, 2024			18,921				1,228				1,921				16,631				27,943				15,170				81,814
ACCUMULATED DEPLETION AND DEPRECIATION / IMPAIRMENT
Balance at January 1, 2023			9,106				441				598				5,178				6,733				3,029				25,085
Additions / Transfers			367				111				204				676				1,170				294				2,822
Writedowns			-				(4	)			(21	)			(619	)			(9	)			-				(653	)
Balance at December 31, 2023			9,473				548				781				5,235				7,894				3,323				27,254
Additions / Transfers			317				99				302				1,200				346				237				2,501
Writedowns			-				(23	)			(23	)			(1,164	)			(151	)			(196	)			(1,557	)
Balance at September 30, 2024			9,790				624				1,060				5,271				8,089				3,364				28,198
NET BOOK VALUE
At September 30, 2024			9,131				604				861				11,360				19,854				11,806				53,616
At December 31, 2023			8,902				296				1,148				12,339				18,338				12,047				53,069

 

- 11 -

  

AVINO SILVER & GOLD MINES LTD. Notes to the unaudited condensed consolidated financial statements For the nine months ended September 30, 2024, and 2023 (Expressed in thousands of US dollars, except where otherwise noted)

 

Included in Buildings and construction in process above are assets under construction of $2,610 as at September 30, 2024 (December 31, 2023 - $3,166) on which no depreciation was charged in the periods then ended. Once the assets are available for use, they will be transferred to the appropriate class of plant, equipment and mining properties.

 

As of September 30, 2024, the Company performed an evaluation of the property plant and equipment and recorded a write-down of $566 (December 31, 2023 - $144) against the carrying value of mine and mill machinery and transportation equipment due to damage and obsolescence.

 

As at September 30, 2024, plant, equipment and mining properties included a net carrying amount of $5,325 (December 31, 2023 - $5,832) for mining equipment and right of use assets under lease.

  

10.  RELATED PARTY TRANSACTIONS AND BALANCES

 

All related party transactions are recorded at the exchange amount which is the amount agreed to by the Company and the related party. 

 

(a) Key management personnel

 

The Company has identified its directors and certain senior officers as its key management personnel. The compensation costs for key management personnel for the three and nine months ended September 30, 2024 and 2023 is as follows:

 

		Three months ended September 30,								Nine months ended September 30,
		2024				2023				2024				2023
Salaries, benefits, and consulting fees		$	273			$	289			$	886			$	869
Share-based payments			424				502				1,318				1,472
		$	697			$	791			$	2,204			$	2,341

 

(b) Amounts due to/from related parties

 

In the normal course of operations, the Company transacts with companies related to Avino’s directors or officers. All amounts payable and receivable are non-interest bearing, unsecured and due on demand.

 

The following table summarizes the amounts were due to/(from) related parties:

 

		September 30, 2024				December 31, 2023
Oniva International Services Corp.		$	100			$	102
Silver Wolf Exploration Ltd.			(39	)			(269	)
		$	61			$	(167	)

 

For services provided to the Company as President and Chief Executive Officer, the Company pays Intermark Capital Corporation (“ICC”), a company controlled by David Wolfin, the Company’s President and CEO and also a director, for consulting services. For the nine months ended September 30, 2024, the Company paid $212 (September 30, 2023 - $215) to ICC.

 

- 12 -

 

AVINO SILVER & GOLD MINES LTD. Notes to the unaudited condensed consolidated financial statements For the nine months ended September 30, 2024, and 2023 (Expressed in thousands of US dollars, except where otherwise noted)

 

(c) Other related party transactions

 

The Company has a cost sharing agreement with Oniva International Services Corp. (“Oniva”) for office and administration services. Pursuant to the cost sharing agreement, the Company will reimburse Oniva for the Company’s percentage of overhead and corporate expenses and for out-of-pocket expenses incurred on behalf of the Company, with a 2.5% markup. David Wolfin, President & CEO, and a director of the Company, is the sole owner of Oniva. The cost sharing agreement may be terminated with one-month notice by either party without penalty.

 

The transactions with Oniva are summarized below:

 

		Three months ended September 30,								Nine months ended September 30,
		2024				2023				2024				2023
Salaries and benefits		$	235			$	240			$	731			$	729
Office and miscellaneous			95				107				342				364
		$	330			$	347			$	1,073			$	1,093

 

11. RECLAMATION PROVISION

 

Management’s estimate of the reclamation provision at September 30, 2024, is $2,012 (December 31, 2023 – $2,195), and the undiscounted value of the obligation is $4,887 (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:

 

		September 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			151				49
Effect of movements in exchange rates			(334	)			86
Balance at end of the period		$	2,012			$	2,195

 

- 13 -

  

AVINO SILVER & GOLD MINES LTD. Notes to the unaudited condensed consolidated financial statements For the nine months ended September 30, 2024, and 2023 (Expressed in thousands of US dollars, except where otherwise noted)

 

12. SHARE CAPITAL AND SHARE-BASED PAYMENTS

 

(a) Authorized: Unlimited common shares without par value

 

(b) Issued:

 

(i) During the nine months ended September 30, 2024, the Company issued 5,050,585 common shares in an at-the-market offering under prospectus supplement for gross proceeds of $3,906. The Company paid a 2.75% cash commission of $107 on gross proceeds, for net proceeds of $3,799. The Company also incurred $169 in share issuance costs related to its base shelf prospectus and prospectus supplement filings.

 

During the nine months ended September 30, 2024, the Company issued 1,197,709 common shares upon exercise of RSUs. As a result, $1,018 was recorded to share capital.

 

During the nine months ended September 30, 2024, the Company issued 561,000 common shares following the exercise of 561,000 options. As a result, $572 was recorded to share capital, representing cash proceeds of $372 and the fair value upon issuance of $200.

 

(ii) During the year ended December 31, 2023, the Company issued 9,373,825 common shares in an at-the-market offering under prospectus supplement for gross proceeds of $5,648. The Company paid a 2.75% cash commission of $155 on gross proceeds, for net proceeds of $5,493. The Company also incurred $339 in share issuance costs related to its base shelf prospectus and prospectus supplement filings.

 

During the year ended December 31, 2023, the Company issued 1,005,333 common shares upon exercise of RSUs. As a result, $1,019 was recorded to share capital.

 

(c) Stock options:

 

The Company has a stock option plan to purchase the Company’s common shares, under which it may grant stock options of up to 10% of the Company’s total number of shares issued and outstanding on a non-diluted basis. The stock option plan provides for the granting of stock options to directors, officers, and employees, and to persons providing investor relations or consulting services, the limits being based on the Company’s total number of issued and outstanding shares per year. The stock options vest on the date of grant, except for those issued to persons providing investor relations services, which vest over a period of one year. The option price must be greater than or equal to the discounted market price on the grant date, and the option term cannot exceed ten years from the grant date.

 

Continuity of stock options is as follows:

 

		Underlying Shares				Weighted Average Exercise Price (C$)
Stock options outstanding, January 1, 2023			4,256,000			$	1.36
Granted			2,545,000			$	1.12
Expired			(105,000	)		$	1.30
Cancelled / Forfeited			(30,000	)		$	1.40
Stock options outstanding, December 31, 2023			6,666,000			$	1.27
Granted			2,500,000			$	0.78
Exercised			(561,000	)		$	0.90
Cancelled / Forfeited			(190,000	)		$	1.26
Stock options outstanding, September 30, 2024			8,415,000			$	1.15
Stock options exercisable, September 30, 2024			7,165,000			$	1.21

 

- 14 -

  

AVINO SILVER & GOLD MINES LTD. Notes to the unaudited condensed consolidated financial statements For the nine months ended September 30, 2024, and 2023 (Expressed in thousands of US dollars, except where otherwise noted)

 

The following table summarizes information about the stock options outstanding and exercisable at September 30, 2024:

 

						Outstanding								Exercisable
Expiry Date		Price (C$)				Number of Options				Weighted Average Remaining Contractual Life (Years)				Number of Options				Weighted Average Remaining Contractual Life (Years)
August 4, 2025		$	1.64				1,620,000				0.84				1,620,000				0.84
March 25, 2027		$	1.20				2,195,000				2.48				2,195,000				2.48
May 4, 2027		$	0.92				25,000				2.59				25,000				2.59
March 29, 2028		$	1.12				2,180,000				3.50				2,180,000				3.50
July 10, 2028		$	1.12				150,000				3.78				150,000				3.78
March 25, 2029		$	0.78				2,245,000				4.48				995,000				4.48
							8,415,000				2.99				7,165,000				2.10

 

Valuation of stock options requires the use of estimates and assumptions including the expected stock price volatility. The expected volatility used in valuing stock options is based on volatility observed in historical periods. Changes in the underlying assumptions can materially affect the fair value estimates. The fair value of the stock options was calculated using the Black-Scholes model with the following weighted average assumptions and resulting fair values:

 

		September 30, 2024				December 31, 2023
Weighted average assumptions:
Risk-free interest rate			3.51	%			3.10	%
Expected dividend yield			0	%			0	%
Expected warrant life (years)			5				5
Expected stock price volatility			60.73	%			61.10	%
Expected forfeiture rate			15	%			17	%
Weighted average fair value		C$0.43				C$0.60

 

During the nine months ended September 30, 2024, the Company charged $610 (nine months ended September 30, 2023 - $783) to operations as share-based payments for the fair value of stock options granted.

 

(d) Restricted Share Units:

 

On April 19, 2018, the Company’s Restricted Share Unit (“RSU”) Plan was approved by its shareholders. The RSU Plan is administered by the Compensation Committee under the supervision of the Board of Directors as compensation to officers, directors, consultants, and employees. The Compensation Committee determines the terms and conditions upon which a grant is made, including any performance criteria or vesting period.

 

- 15 -

  

AVINO SILVER & GOLD MINES LTD. Notes to the unaudited condensed consolidated financial statements For the nine months ended September 30, 2024, and 2023 (Expressed in thousands of US dollars, except where otherwise noted)

 

Upon vesting, each RSU entitles the participant to receive one common share, provided that the participant is continuously employed with or providing services to the Company. RSUs track the value of the underlying common shares, but do not entitle the recipient to the underlying common shares until such RSUs vest, nor do they entitle a holder to exercise voting rights or any other rights attached to ownership or control of the common shares, until the RSU vests and the RSU participant receives common shares.

 

Continuity of RSUs is as follows:

 

		Underlying Shares				Weighted Average Price (C$)
RSUs outstanding, January 1, 2023			2,190,666			$	1.27
Granted			1,878,320			$	1.11
Exercised			(1,005,334	)		$	1.37
Cancelled / Forfeited			(68,943	)		$	1.14
RSUs outstanding, December 31, 2023			2,994,709			$	1.03
Granted			1,881,000			$	1.02
Exercised			(1,197,709	)		$	1.15
Cancelled / Forfeited			(137,132	)		$	1.08
RSUs outstanding, September 30, 2024			3,540,868			$	1.08

 

The following table summarizes information about the RSUs outstanding at September 30, 2024:

 

Issuance Date		Price (C$)				Number of RSUs Outstanding
March 25, 2022		$	1.19				556,539
March 29, 2023		$	1.12				1,124,288
July 10, 2023		$	0.94				50,000
April 1, 2024		$	1.02				1,810,041
							3,540,868

 

During the nine months ended September 30, 2024, 1,881,000 RSUs (year ended December 31, 2023 – 1,878,320) were granted. The weighted average fair value at the measurement date was C$1.02, based on the TSX market price of the Company’s shares on the date the RSUs were granted.

 

During the nine months ended September 30, 2024, the Company charged $991 (September 30, 2023 - $1,026) to operations as share-based payments for the fair value of the RSUs vested. The fair value of the RSUs is recognized over the vesting period with reference to vesting conditions and the estimated RSUs expected to vest.

 

- 16 -

 

AVINO SILVER & GOLD MINES LTD. Notes to the unaudited condensed consolidated financial statements For the nine months ended September 30, 2024, and 2023 (Expressed in thousands of US dollars, except where otherwise noted)

 

(e) Earnings (loss) per share:

 

The calculations for basic earnings per share and diluted earnings per share are as follows:

 

		Three months ended September 30,								Nine months ended September 30,
		2024				2023				2024				2023
Net income (loss) for the period		$	1,169			$	(803	)		$	3,008			$	(21	)
Basic weighted average number of shares outstanding			135,070,079				122,433,272				132,925,193				120,093,760
Effect of dilutive share options, warrants, and RSUs			5,359,782				-				5,798,710				-
Diluted weighted average number of shares outstanding			140,429,861				122,433,272				138,723,903				120,093,760
Basic income (loss) per share		$	0.01			$	(0.01	)		$	0.02			$	(0.00	)
Diluted income (loss) per share		$	0.01			$	(0.01	)		$	0.02			$	(0.00	)

 

13. REVENUE AND COST OF SALES

 

The Company’s revenues for the nine months ended September 30, 2024 and 2023, are all attributable to Mexico, from shipments of concentrate from the Avino Mine.

 

		Three months ended September 30,								Nine months ended September 30,
		2024				2023				2024				2023
Concentrate sales		$	13,974			$	11,599			$	40,994			$	31,429
Provisional pricing adjustments			642				717				802				(70	)
		$	14,616			$	12,316			$	41,796			$	31,359

 

Cost of sales consists of changes in inventories, direct costs including personnel costs, mine site costs, energy costs (principally diesel fuel and electricity), maintenance and repair costs, operating supplies, external services, third party transport fees, depreciation and depletion, and other expenses for the periods. Direct costs include the costs of extracting co-products.

 

Cost of sales is based on the weighted average cost of inventory sold for the periods and consists of the following:

 

		Three months ended September 30,								Nine months ended September 30,
		2024				2023				2024				2023
Production costs		$	7,952			$	9,228			$	26,095			$	23,939
Write down of equipment and materials and supplies inventory			182				4				566				95
Depreciation and depletion			773				720				2,390				2,067
		$	8,907			$	9,952			$	29,051			$	26,101

 

- 17 -

  

AVINO SILVER & GOLD MINES LTD. Notes to the unaudited condensed consolidated financial statements For the nine months ended September 30, 2024, and 2023 (Expressed in thousands of US dollars, except where otherwise noted)

 

14. GENERAL AND ADMINISTRATIVE EXPENSES

 

General and administrative expenses consist of the following:

 

		Three months ended September 30,								Nine months ended September 30,
		2024				2023				2024				2023
Salaries and benefits		$	585			$	383			$	1,440			$	1,069
Office and miscellaneous			308				391				1,266				1,008
Management and consulting fees			126				109				391				312
Professional fees			240				195				709				898
Investor relations			44				49				225				216
Regulatory and compliance fees			52				35				145				126
Directors fees			38				43				128				132
Depreciation			39				38				114				108
Travel and promotion			23				37				100				130
		$	1,455			$	1,280			$	4,518			$	3,999

 

15. COMMITMENTS & CONTINGENCIES

 

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 10.

 

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:

 

		September 30, 2024				December 31, 2023
Not later than one year		$	189			$	714
Later than one year and not later than five years			1,173				1,241
Later than five years			3,710				3,965
		$	5,072			$	5,920

 

Office lease payments recognized as an expense during the nine months ended September 30, 2024, totalled $30 (September 30, 2023 - $27).

 

Due to the nature of the Company’s activities, the Company is from time to time involved in various claims and legal proceedings arising in the conduct of its business. At the reporting date, none of such claims and legal proceedings are considered probable of resulting in a material loss or judgment against the Company.

 

- 18 -

  

AVINO SILVER & GOLD MINES LTD. Notes to the unaudited condensed consolidated financial statements For the nine months ended September 30, 2024, and 2023 (Expressed in thousands of US dollars, except where otherwise noted)

 

16. SUPPLEMENTARY CASH FLOW INFORMATION

 

		September 30, 2024				September 30, 2023
Net change in non-cash working capital items:
Inventory		$	(2,050	)		$	(2,720	)
Prepaid expenses and other assets			(432	)			(329	)
Taxes recoverable			3,088				(2,075	)
Taxes payable			529				(809	)
Accounts payable and accrued liabilities			(2,622	)			2,592
Amounts receivable			273				199
Amounts due to related parties			(355	)			(59	)
		$	(1,569	)		$	(3,201	)

 

		September 30, 2024				September 30, 2023
Other supplementary information:
Interest paid		$	187			$	180
Taxes paid			13				29
		$	200			$	209

 

		September 30, 2024				September 30, 2023
Non-cash investing and financing activities:
Shares acquired under terms of option agreements			-				41
Transfer of share-based payments reserve upon exercise of RSUs			1,018				1,019
Transfer of share-based payments reserve upon exercise of options			572				-
Equipment acquired under finance leases and equipment loans			887				2,888
		$	2,477			$	3,948

 

17.  FINANCIAL INSTRUMENTS

 

The fair values of the Company’s amounts due to related parties and accounts payable approximate their carrying values because of the short-term nature of these instruments. Cash, amounts receivable, long-term investments, and warrant liability are recorded at fair value. The carrying amounts of the Company’s equipment loans, and finance lease obligations are a reasonable approximation of their fair values based on current market rates for similar financial instruments.

 

The Company’s financial instruments are exposed to certain financial risks, including credit risk, liquidity risk, and market risk.

 

(a) Credit Risk

 

Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. The Company has exposure to credit risk through its cash, long-term investments and amounts receivable. The Company manages credit risk, in respect of cash and short-term investments, by maintaining the majority of cash and short-term investments at highly rated financial institutions.

 

The Company is exposed to a significant concentration of credit risk with respect to its trade accounts receivable balance because all of its concentrate sales are with three (December 31, 2023 – two) counterparties (see Note 18). However, the Company has not recorded any allowance against its trade receivables because to-date all balances owed have been settled in full when due (typically within 60 days of submission) and because of the nature of the counterparties.

 

The Company’s maximum exposure to credit risk at the end of any period is equal to the carrying amount of these financial assets as recorded in the unaudited condensed consolidated interim statement of financial position. At September 30, 2024, no amounts were held as collateral.

 

- 19 -

  

AVINO SILVER & GOLD MINES LTD. Notes to the unaudited condensed consolidated financial statements For the nine months ended September 30, 2024, and 2023 (Expressed in thousands of US dollars, except where otherwise noted)

 

(b) Liquidity Risk

 

Liquidity risk is the risk that the Company will encounter difficulty in satisfying financial obligations as they become due. The Company manages its liquidity risk by forecasting cash flows required by its operating, investing and financing activities. The Company had cash at September 30, 2024, in the amount of $7,767 and current assets exceeded current liabilities by $15,878 in order to meet short-term business requirements. Accounts payable have contractual maturities of approximately 30 to 90 days, or are due on demand and are subject to normal trade terms. The current portions of finance lease obligations are due within 12 months of the  consolidated  statement of financial position date. Amounts due to related parties are without stated terms of interest or repayment.

 

The maturity profiles of the Company’s contractual obligations and commitments as at September 30, 2024, are summarized as follows:

 

		Total				Less Than 1 Year				1-5 years				More Than 5 Years
Accounts payable and accrued liabilities		$	9,243			$	9,243			$	-			$	-
Due to related parties			61				61
Minimum rental and lease payments			5,072				189				1,173				3,710
Equipment loans			248				178				70				-
Finance lease obligations			3,148				1,743				1,405				-
Total		$	17,772			$	11,414			$	2,648			$	3,710

 

(c) Market Risk

 

Market risk consists of interest rate risk, foreign currency risk and price risk. These are discussed further below.

 

Interest Rate Risk

 

Interest rate risk consists of two components:

 

(i) To the extent that payments made or received on the Company’s monetary assets and liabilities are affected by changes in the prevailing market interest rates, the Company is exposed to interest rate cash flow risk.

 

(ii) To the extent that changes in prevailing market rates differ from the interest rates on the Company’s monetary assets and liabilities, the Company is exposed to interest rate price risk.

 

In management’s opinion, the Company is not materially exposed to interest rate risk, as any material debt obligations that bear interest are fixed and not subject to floating interest rates. A 10% change in the interest rate would not result in a material impact on the Company’s operations.

 

- 20 -

  

AVINO SILVER & GOLD MINES LTD. Notes to the unaudited condensed consolidated financial statements For the nine months ended September 30, 2024, and 2023 (Expressed in thousands of US dollars, except where otherwise noted)

 

Foreign Currency Risk

 

Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in foreign exchange rates. The Company is exposed to foreign currency risk to the extent that the following monetary assets and liabilities are denominated in Mexican pesos and Canadian dollars:

 

		September 30, 2024								December 31, 2023
		MXN				CDN				MXN				CDN
Cash		$	5,060			$	518			$	13,338			$	70
Due from related parties			764				-				4,558				-
Long-term investments			-				1,979				-				1,236
Reclamation bonds			-				6				-				6
Amounts receivable			463				29				18,644				26
Accounts payable and accrued liabilities			(64,581	)			(44	)			(95,662	)			(150	)
Due to related parties			-				(136	)			-				(135	)
Finance lease obligations			(2,413	)			(584	)			(1,129	)			(217	)
Net exposure			(60,707	)			1,768				(60,251	)			836
US dollar equivalent		$	(3,084	)		$	1,310			$	(3,567	)		$	577

 

Based on the net US dollar denominated asset and liability exposures as at September 30, 2024, a 10% fluctuation in the US/Mexican and Canadian/US exchange rates would impact the Company’s earnings for the nine months ended September 30, 2024, by approximately $189. The Company has not entered into any foreign currency contracts to mitigate this risk.

 

Price Risk

 

Price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in market prices, other than those arising from interest rate risk or foreign currency risk.

 

The Company is exposed to price risk with respect to its amounts receivable, as certain trade accounts receivable are recorded based on provisional terms that are subsequently adjusted according to quoted metal prices at the date of final settlement. Quoted metal prices are affected by numerous factors beyond the Company’s control and are subject to volatility, and the Company does not employ hedging strategies to limit its exposure to price risk. At September 30, 2024, based on outstanding accounts receivable that were subject to pricing adjustments, a 10% change in metals prices would have an impact on net earnings (loss) of approximately $212.

 

The Company is exposed to price risk with respect to its long-term investments, as these investments are carried at fair value based on quoted market prices. Changes in market prices result in gains or losses being recognized in net income (loss). At September 30, 2024, a 10% change in market prices would have an impact on net earnings (loss) of approximately $147.

 

The Company’s profitability and ability to raise capital to fund exploration, evaluation and production activities is subject to risks associated with fluctuations in mineral prices. Management closely monitors commodity prices, individual equity movements, and the stock market to determine the appropriate course of action to be taken by the Company.

 

- 21 -

  

AVINO SILVER & GOLD MINES LTD. Notes to the unaudited condensed consolidated financial statements For the nine months ended September 30, 2024, and 2023 (Expressed in thousands of US dollars, except where otherwise noted)

 

(d) Classification of Financial Instruments

 

IFRS 13 Financial Instruments: Disclosures establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value as follows:

 

Level 1 – quoted prices (unadjusted) in active markets for identical assets or liabilities;

Level 2 – inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices); and

Level 3 – inputs for the asset or liability that are not based on observable market data (unobservable inputs).

 

The following table sets forth the Company’s financial assets measured at fair value on a recurring basis by level within the fair value hierarchy as at September 30, 2024:

 

		Level 1				Level 2				Level 3
Financial assets
Cash		$	7,767			$	-			$	-
Amounts receivable			-				3,030				-
Long-term investments			1,439				-				27
Total financial assets		$	9,206			$	3,030			$	27

 

The Company uses Black-Scholes model to measure its Level 3 financial instruments. As at September 30, 2024 the Company’s Level 3 financial instruments consisted of share purchase warrants in Silver Wolf Exploration Ltd.. See Note 6 for further details.

 

18. SEGMENTED INFORMATION

 

The Company reviews its segment reporting to ensure it reflects the operational structure of the Company and enables the Company's Chief Operating Decision Maker (the Company’s CEO) to review operating segment performance. We have determined there is a single reportable operating segment as of September 30, 2024.

 

The Company’s revenues for the nine months ended September 30, 2024 of $41,796 (September 30, 2023 - $31,359) are all attributable to Mexico, from shipments of concentrate.

 

On the condensed consolidated interim statements of operations, the Company had revenue from the following product mixes:

 

		Three months ended September 30,								Nine months ended September 30,
		2024				2023				2024				2023
Silver		$	6,462			$	4,280			$	18,246			$	11,610
Copper			6,497				5,907				18,329				14,658
Gold			3,359				3,669				9,894				9,516
Penalties, treatment costs and refining charges			(1,702	)			(1,540	)			(4,673	)			(4,425	)
Total revenue from mining operations		$	14,616			$	12,316			$	41,796			$	31,359

 

- 22 -

 

AVINO SILVER & GOLD MINES LTD. Notes to the unaudited condensed consolidated financial statements For the nine months ended September 30, 2024, and 2023 (Expressed in thousands of US dollars, except where otherwise noted)

 

For the three and nine months ended September 30, 2024 and 2023, the Company had the following customers that accounted for total revenues as follows:

 

		Three months ended September 30,								Nine months ended September 30,
		2024				2023				2024				2023
Customer #1		$	14,117			$	9,101			$	35,404			$	26,209
Customer #2			487				3,220				5,930				5,246
Other customers			12				(5	)			462				(96	)
Total revenue from mining operations		$	14,616			$	12,316			$	41,796			$	31,359

 

Geographical information relating to the Company’s non-current assets (other than financial instruments) is as follows:

 

		September 30, 2024				December 31, 2023
Exploration and evaluation assets - Mexico		$	52,713			$	50,110
Exploration and evaluation assets - Canada			1				1
Total exploration and evaluation assets		$	52,714			$	50,111

 

		September 30, 2024				December 31, 2023
Plant, equipment, and mining properties - Mexico		$	53,162			$	52,891
Plant, equipment, and mining properties - Canada			454				178
Total plant, equipment, and mining properties		$	53,616			$	53,069

 

19. SUBSEQUENT EVENTS

 

Subsequent to September 30, 2024, the Company issued 702,500 common shares through the exercise of 702,500 stock options at an average exercise price of C$1.15 for proceeds of C$806

 

Subsequent to September 30, 2024, the Company issued 4,288,100 common shares in at-the-market offerings under prospectus supplement for gross proceeds of $5,827.

 

- 23 -

 

 

null

Cover	9 Months Ended
	Sep. 30, 2024
Cover [Abstract]
Entity Registrant Name	AVINO SILVER & GOLD MINES LTD.
Entity Central Index Key	0000316888
Document Type	6-K/A
Amendment Flag	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Sep. 30, 2024
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Entity File Number	001-35254
Entity Address Address Line 1	Suite 900
Entity Address Address Line 2	570 Granville Street
Entity Address City Or Town	Vancouver
Entity Address Postal Zip Code	V6C 3P1
Entity Address State Or Province	BC
Amendment Description	Avino Silver & Gold Mines Ltd. (the “Company”) is furnishing this Amendment No. 1 on Form 6-K/A (the “Form 6-K/A”) to amend the Report on Form 6-K filed with the Securities and Exchange Commission on November 13, 2024 (the “Original Filing”).  This Form 6-K/A is being furnished solely for the purposes of  providing its financial information for the three and nine months ended September 30, 2024 using Inline XBRL in accordance with Section 405 of Regulation S-T and to incorporate such financial information into the Company’s registration statement referenced below. Other than as expressly set forth above, this Form 6-K/A does not, and does not purport to, amend, update or restate the information in any other item of the Original Filing, or reflect any events that have occurred after the Original Filing was originally filed.

Condensed Consolidated Interim Statements of Financial Position - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash	$ 7,767	$ 2,688
Amounts receivable	3,030	3,303
Amounts due from related parties	0	167
Taxes recoverable	3,492	6,580
Prepaid expenses and other assets	2,403	1,971
Inventory	10,874	8,826
Total current assets	27,566	23,535
Exploration and evaluation assets	52,714	50,111
Plant, equipment and mining properties	53,616	53,069
Long-term investments	1,466	934
Other assets	4	691
Total assets	135,366	128,340
Current liabilities
Accounts payable and accrued liabilities	9,243	11,867
Amounts due to related parties	61	0
Taxes payable	656	127
Current portion of finance lease obligations	1,563	1,650
Current portion of equipment loans	165	164
Total current liabilities	11,688	13,808
Finance lease obligations	1,351	1,445
Equipment loans	69	195
Reclamation provision	2,012	2,195
Deferred income tax liabilities	5,757	4,696
Total liabilities	20,877	22,339
EQUITY
Share capital	156,908	151,688
Equity reserves	11,424	11,041
Treasury shares	97	97
Accumulated other comprehensive loss	(5,331)	(5,208)
Accumulated deficit	(48,415)	(51,423)
Total equity	114,489	106,001
Total liabilities and equity	$ 135,366	$ 128,340

Condensed Consolidated Interim Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Condensed Consolidated Interim Statements of Operations and Comprehensive Income (Loss)
Revenue from mining operations	$ 14,616	$ 12,316	$ 41,796	$ 31,359
Cost of sales	8,907	9,952	29,051	26,101
Mine operating income	5,709	2,364	12,745	5,258
Operating expenses
General and administrative expenses	1,455	1,280	4,518	3,999
Share-based payments	531	627	1,601	1,809
Income (loss) before other items	3,723	457	6,626	(550)
Other items
Interest and other income (loss)	(77)	5	77	234
Gain (loss) on long-term investments	(268)	(295)	87	(899)
Fair value adjustment on warrant liability	0	20	0	478
Foreign exchange gain (loss)	170	(234)	342	182
Finance cost	5	3	10	80
Accretion of reclamation provision	(49)	(13)	(151)	(36)
Write-down of uncollectible account	(621)	0	(621)	0
Interest expense	(77)	(158)	(248)	(275)
Income (loss) before income taxes	2,796	(221)	6,102	(946)
Income taxes:
Current income tax recovery (expense)	(1,258)	111	(2,033)	645
Deferred income tax recovery (expense)	(369)	(693)	(1,061)	280
Income tax recovery (expense)	(1,627)	(582)	(3,094)	925
Net income (loss)	1,169	(803)	3,008	(21)
Other comprehensive income (loss)
Currency translation differences	1	230	(123)	(346)
Total comprehensive income (loss)	$ 1,170	$ (573)	$ 2,885	$ (367)
Income (loss) per share
Basic	$ 0.01	$ (0.01)	$ 0.02	$ 0.00
Diluted	$ 0.01	$ (0.01)	$ 0.02	$ 0.00
Weighted average number of common shares outstanding
Basic	135,070,079	122,433,272	132,925,193	120,093,760
Diluted	140,429,861	122,433,272	138,723,903	120,093,760

Condensed Consolidated Interim Statements of Changes in Equity (Unaudited) - USD ($) $ in Thousands	Total	Share Capital	Equity Reserves	Treasury Shares	Accumulated other comprehensive loss	Retained Earnings (Accumulated Deficit)
Balance, shares at Dec. 31, 2022		118,349,090
Balance, amount at Dec. 31, 2022	$ 98,021	$ 145,515	$ 9,852	$ (97)	$ (5,223)	$ (52,026)
Statement [Line Items]
At the market issuances, shares		5,360,300
At the market issuances, amount	3,597	$ 3,597	0	0	0	0
Carrying value of RSUs exercised, shares		1,005,333
Carrying value of RSUs exercised, amount	0	$ 1,019	(1,019)	0	0	0
Issuance costs	(355)	(355)	0	0	0	0
Share-based payments	1,809	0	1,809	0	0	0
Options cancelled or expired	0		(61)			61
Net Income (Loss)	(21)	0	0	0	0	(21)
Currency translation differences	(346)	$ 0	0	0	(346)	0
Balance, shares at Sep. 30, 2023		124,714,723
Balance, amount at Sep. 30, 2023	102,705	$ 149,776	10,581	(97)	(5,569)	(51,986)
Balance, shares at Dec. 31, 2023		128,728,248
Balance, amount at Dec. 31, 2023	106,001	$ 151,688	11,041	(97)	(5,208)	(51,423)
Statement [Line Items]
At the market issuances, shares		5,050,585
At the market issuances, amount	3,906	$ 3,906	0	0	0	0
Carrying value of RSUs exercised, shares		1,197,709
Carrying value of RSUs exercised, amount	0	$ 1,018	(1,018)	0	0	0
Issuance costs	(276)	(276)	0	0	0	0
Share-based payments	1,601	0	1,601	0	0	0
Net Income (Loss)	3,008	0	0	0	0	3,008
Currency translation differences	(123)	$ 0	0	0	(123)	0
Exercise of options, shares		561,000
Exercise of options, amount	$ 372	$ 572	(200)	0	0	0
Balance, shares at Sep. 30, 2024	702,500	135,537,542
Balance, amount at Sep. 30, 2024	$ 114,489	$ 156,908	$ 11,424	$ (97)	$ (5,331)	$ (48,415)

Condensed Consolidated Interim Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating Activities
Net income	$ 3,008	$ (21)
Adjustments for non-cash items:
Deferred income tax expense (recovery)	1,061	(280)
Depreciation and depletion	2,504	2,175
Accretion of reclamation provision	151	36
(Gain) loss on investments	87	(899)
Unrealized foreign exchange gain	(283)	(241)
Write down of uncollectible account	621	0
Unwinding of fair value adjustment	0	74
Fair value adjustment on warrant liability	0	478
Write down of equipment and materials and supplies inventory	566	95
Share-based payments	1,601	1,809
Total adjustments for non cash	9,142	4,068
Net change in non-cash working capital items	1,569	3,201
Cash provided by operating activities	7,573	867
Financing Activities
Shares and units issued for cash, net of issuance costs	3,630	3,242
Proceeds from option exercise	372	0
Lease liability payments	1,371	933
Equipment loan payments	126	184
Cash provided by (used in) financing activities	2,505	2,125
Investing Activities
Exploration and evaluation expenditures	1,920	809
Additions to plant, equipment and mining properties	3,112	6,575
Acquisition of La Preciosa	0	(5,000)
Cash used in investing activities	(5,032)	(12,384)
Change in cash	5,046	(9,392)
Effect of exchange rate changes on cash	33	3
Cash, beginning	2,688	11,245
Cash, ending	$ 7,767	$ 1,856

NATURE OF OPERATIONS	9 Months Ended
	Sep. 30, 2024
NATURE OF OPERATIONS	1. NATURE OF OPERATIONS   Avino Silver & Gold Mines Ltd. (the “Company” or “Avino”) was incorporated in 1968 under the laws of the Province of British Columbia, Canada. The Company is engaged in the production and sale of silver, gold, and copper and the acquisition, exploration, and advancement of mineral properties.   The Company’s head office and principal place of business is Suite 900, 570 Granville Street, Vancouver, BC, Canada. The Company is a reporting issuer in Canada (except for the province of Quebec) and the United States, and trades on the Toronto Stock Exchange (“TSX”), the NYSE American, and the Frankfurt and Berlin Stock Exchanges.   The Company operates the Elena Tolosa Mine (“ET Mine” or “Avino Mine”) which produces copper, silver and gold at the historic Avino property in the state of Durango, Mexico. The Avino property also hosts the San Gonzalo Mine, which is currently on care and maintenance. The Company also holds 100% interest in Proyectos Mineros La Preciosa S.A. de C.V. (“La Preciosa”), a Mexican corporation which owns the La Preciosa Property. The Company also owns interests in mineral properties located in British Columbia and Yukon, Canada.

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2024
BASIS OF PRESENTATION	2. BASIS OF PRESENTATION   Statement of Compliance   These unaudited condensed consolidated interim financial statements have been prepared in accordance with International Accounting Standard (“IAS”) 34 – Interim Financial Reporting under International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”). These unaudited condensed consolidated interim financial statements follow the same accounting policies and methods of application as the most recent annual audited consolidated financial statements of the Company. These unaudited condensed consolidated interim financial statements do not contain all of the information required for full annual consolidated financial statements. Accordingly, these unaudited condensed consolidated interim financial statements should be read in conjunction with the Company’s December 31, 2023, annual consolidated financial statements, which were prepared in accordance with IFRS as issued by the IASB.   These unaudited condensed consolidated interim financial statements are expressed in US dollars and have been prepared on a historical cost basis except for financial instruments that have been measured at fair value.  In addition, these unaudited condensed consolidated interim financial statements have been prepared using the accrual basis of accounting on a going concern basis. The accounting policies set out in the December 31, 2023 annual consolidated financial statements are applied consistently to all periods presented in these unaudited condensed consolidated interim financial statements as if the policies have always been in effect.   Foreign Currency Translation   Foreign currency transactions   Transactions in currencies other than the functional currency are recorded at the rates of exchange prevailing on the dates of the transactions. At each financial position reporting date, monetary assets and liabilities that are denominated in foreign currencies are translated at the rates prevailing at the date of the statement of financial position.  Non-monetary items that are measured in terms of historical cost in a foreign currency are not re-translated.   Foreign operations   Subsidiaries that have functional currencies other than the US dollar translate their statement of operations items at the average rate during the year. Assets and liabilities are translated at exchange rates prevailing at the end of each reporting period. Exchange rate variations resulting from the retranslation at the closing rate of the net investment in these subsidiaries, together with differences between their statement of operations items translated at actual and average rates, are recognized in accumulated other comprehensive income (loss). On disposition or partial disposition of a foreign operation, the cumulative amount of related exchange difference is recognized in the statement of operations. Significant Accounting Judgments and Estimates   The Company’s management makes judgments in its process of applying the Company’s accounting policies to the preparation of its unaudited condensed consolidated interim financial statements. In addition, the preparation of financial data requires that the Company’s management make assumptions and estimates of the impacts on the carrying amounts of the Company’s assets and liabilities at the end of the reporting period from uncertain future events and on the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates as the estimation process is inherently uncertain. Estimates are reviewed on an ongoing basis based on historical experience and other factors that are considered to be relevant under the circumstances. Revisions to estimates and the resulting impacts on the carrying amounts of the Company’s assets and liabilities are accounted for prospectively.   The critical judgments and estimates applied in the preparation of the Company’s unaudited condensed consolidated interim financial statements for the nine months ended September 30, 2024, are consistent with those applied and disclosed in Note 2 to the Company’s audited consolidated financial statements for the year ended December 31, 2023.   Basis of Consolidation   The audited consolidated financial statements include the accounts of the Company and its Mexican subsidiaries as follows:   Subsidiary Ownership Interest Jurisdiction Nature of Operations Oniva Silver and Gold Mines S.A. de C.V. 100% Mexico Mexican administration Nueva Vizcaya Mining, S.A. de C.V. 100% Mexico Mexican administration Promotora Avino, S.A. de C.V. (“Promotora”) 79.09% Mexico Holding company Compañía Minera Mexicana de Avino, S.A. de C.V. (“Avino Mexico”) 98.45% direct 1.22% indirect (Promotora) 99.67% effective Mexico Mining and exploration La Luna Silver & Gold Mines Ltd. 100% Canada Holding company La Preciosa Silver & Gold Mines Ltd. 100% Canada Holding company Proyectos Mineros La Preciosa S.A. de C.V. 100% Mexico Mining and exploration Cervantes LLP 100% U.S. Holding company   Intercompany balances and transactions, including unrealized income and expenses arising from intercompany transactions, are eliminated in preparing the consolidated financial statements.

RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2024
RECENT ACCOUNTING PRONOUNCEMENTS	3. RECENT ACCOUNTING PRONOUNCEMENTS   New and amended IFRS that are effective for the current year:   Certain new accounting standards and interpretations have been published that are either applicable in the current year, or are not mandatory for the current period and have not been early adopted. We have assessed these standards, and they are not expected to have a material impact on the Company in the current or future reporting periods.

TAXES RECOVERABLE	9 Months Ended
	Sep. 30, 2024
TAXES RECOVERABLE	4. TAXES RECOVERABLE   The Company’s taxes recoverable consist of the Mexican I.V.A. (“VAT”) and income taxes recoverable and Canadian sales taxes (“GST/HST”) recoverable.       September 30, 2024     December 31, 2023   VAT recoverable   $ 1,550     $ 3,231   GST recoverable     22       20   Income taxes recoverable     1,920       3,329       $ 3,492     $ 6,580

INVENTORY	9 Months Ended
	Sep. 30, 2024
INVENTORY	5. INVENTORY       September 30, 2024     December 31, 2023   Process material stockpiles   $ 3,482     $ 4,050   Concentrate inventory     4,328       2,448   Materials and supplies     3,064       2,328       $ 10,874     $ 8,826     The amount of inventory recognized as an expense for the three and nine months ended September 30, 2024 totalled $8,725 and $28,485 (three and nine months ended September 30, 2023 – $9,948 and $26,006). See Note 13 for further details.   During the nine months ended September 30, 2024, the Company wrote down Nil of materials and supplies inventory due to obsolescence (September 30, 2023 – 84).

LONGTERM INVESTMENTS	9 Months Ended
	Sep. 30, 2024
LONG-TERM INVESTMENTS	6. LONG-TERM INVESTMENTS   The Company classifies its long-term investments as designated at fair value through profit and loss under IFRS 9. Long-term investments are summarized as follows:       Fair Value December 31,     Net     Movements in foreign     Fair value adjustments     Fair Value September 30,       2023      Additions     exchange     for the period     2024   Talisker Resources Common Shares   $ 782     $ -     $ (7 )   $ 155     $ 930   Silver Wolf Exploration Ltd. (“Silver Wolf”) Common Shares     71       426       (4 )     (46 )     447   Silver Wolf Exploration Ltd. Warrants     -       30       -       (3 )     27   Endurance Gold Corp. Common Shares     81       -       (1 )     (19 )     61   Other     -       1       -       -       1       $ 934     $ 457     $ (12 )   $ 87     $ 1,466     Silver Wolf   During the nine months ended September 30, 2024, the Company received 2,292,000 common shares as part of debt settlement from Silver Wolf for $335 (C$458). The Company further acquired, by way of participation in Silver Wolf’s Listed Issuer Financing Exemption private placement, 833,334 units at a purchase price of C$0.15 consisting of 833,334 common shares and 416,667 non-transferable common share purchase warrants at an exercise price of C$0.25 as for a total investment of $91 (C$125). The share purchase warrants were recorded at a fair value. Any subsequent revaluation under IFRS 9 at fair value through profit and loss will be recorded as a gain or loss on long-term investments.

EXPLORATION AND EVALUATION ASSETS	9 Months Ended
	Sep. 30, 2024
EXPLORATION AND EVALUATION ASSETS	7. EXPLORATION AND EVALUATION ASSETS   The Company has accumulated the following acquisition, exploration and evaluation costs which are not subject to depletion:       Avino,  Mexico     La Preciosa, Mexico     British Columbia & Yukon, Canada     Total               Balance, December 31, 2022   $ 11,828     $ 37,975     $ 1     $ 49,804                                     La Preciosa non-core concessions transfer     2,946       (2,946 )             -   Drilling and exploration     877       435       -       1,312   Assessments and taxes     88       (930 )     -       (842 ) Effect of movements in exchange rates     22       (122 )     -       (100 ) Option income     (63 )     -       -       (63 )                                   Balance, December 31, 2023   $ 15,698     $ 34,412     $ 1     $ 50,111   Drilling and exploration     129       1,265       -       1,394   Assessments and taxes     195       1,018       -       1,213   Effect of movements in exchange rates     (4 )     -       -       (4 )                                   Balance, September 30, 2024   $ 16,018     $ 36,695     $ 1     $ 52,714   (a) Avino, Mexico   The Company’s subsidiary Avino Mexico owns 42 mineral claims and leases four mineral claims in the state of Durango, Mexico. The Company’s mineral claims in Mexico are divided into the following two groups:   (i) Avino Mine area property   The Avino Mine area property is situated around the towns of Panuco de Coronado and San Jose de Avino and surrounding the historic Avino mine site. There are four exploration concessions covering 154.4 hectares, 24 exploitation concessions covering 1,284.7 hectares, and one leased exploitation concession covering 98.83 hectares.   (ii) Gomez Palacio/Ana Maria property   The Ana Maria property is located near the town of Gomez Palacio, and consists of nine exploration concessions covering 2,549 hectares, and is also known as the Ana Maria property.   Option Agreement – Silver Wolf Exploration Ltd. (formerly Gray Rock Resources Ltd.) (“Silver Wolf”)   On March 11, 2021, the Company entered into an option agreement to grant Silver Wolf the exclusive right to acquire a 100% interest in the Ana Maria and El Laberinto properties in Mexico (the “Option Agreement”).   All exploration expenditure requirements on the properties have been met as of September 30, 2024. Future requirements remain to exercise the option and Silver Wolf is in compliance with the terms of the Option Agreement as of September 30, 2024.   The Option Agreement between the Company and Silver Wolf is considered a related party transaction as the two companies have directors in common.   Unification La Platosa properties   The Unification La Platosa properties, consisting of three leased concessions in addition to the leased concessions situated within the Avino mine area property near the towns of Panuco de Coronado and San Jose de Avino and surrounding the Avino Mine.    In February 2012, the Company’s wholly-owned Mexican subsidiary entered into a new agreement with Minerales de Avino, S.A. de C.V. (“Minerales”) whereby Minerales has indirectly granted to the Company the exclusive right to explore and mine the La Platosa property known as the “ET zone”. The ET zone includes the Avino Mine, where production at levels intended by management was achieved on July 1, 2015.   Under the agreement, the Company has obtained the exclusive right to explore and mine the property for an initial period of 15 years, with the option to extend the agreement for another 5 years. In consideration of the granting of these rights, the Company issued 135,189 common shares with a fair value of C$250 during the year ended December 31, 2012.The Company has agreed to pay to Minerales a royalty equal to 3.5% of net smelter returns (“NSR”). In addition, after the start of production, if the minimum monthly processing rate of the mine facilities is less than 15,000 tonnes, then the Company must pay to Minerales a minimum royalty equal to the applicable NSR royalty based on the processing at a monthly rate of 15,000 tonnes.   Minerales has also granted to the Company the exclusive right to purchase a 100% interest in the property at any time during the term of the agreement (or any renewal thereof), upon payment of $8 million within 15 days of the Company’s notice of election to acquire the property. The purchase would be subject to a separate purchase agreement for the legal transfer of the property. (b) La Preciosa, Mexico   La Preciosa is a development stage mineral property located in the state of Durango, Mexico, within the municipalities of Pánuco de Coronado and Canatlán. The Project is hosting one of the largest undeveloped primary silver resources in Mexico, and is located adjacent to Avino’s existing operations at the Avino Property in Durango, Mexico. The property covers an area of approximately 1,134 hectares and is located on the eastern flank of the Sierra Madre Occidental mountain range.   (c) British Columbia & Yukon, Canada   Eagle Property - Yukon   The Company has a 100% interest in 14 quartz leases located in the Mayo Mining Division of Yukon, Canada, which collectively comprise the Eagle property. During the year ended December 31, 2023, the Company sold to a subsidiary of Hecla Mining Company (“Hecla”) the Eagle Property for cash consideration of C$250. The gain on sale of the Eagle Property was recorded to “Interest and other income” on the  consolidated  statements of operations and comprehensive income (loss).   Minto and Olympic-Kelvin properties – British Columbia   On May 2, 2022, the Company granted Endurance Gold Corporation the right to acquire an option to earn 100% ownership of the former Minto Gold Mine, Olympic and Kelvin gold prospects contained within a parcel of crown grant and mineral claims (the “Olympic Claims”).   As of September 30, 2024, Endurance was in compliance with all terms of the Option agreement.

NONCONTROLLING INTEREST	9 Months Ended
	Sep. 30, 2024
NON-CONTROLLING INTEREST	8. NON-CONTROLLING INTEREST   At September 30, 2024, the Company had an effective 99.67% (December 31, 2023 - 99.67%) interest in its subsidiary Avino Mexico and the remaining 0.33% (December 31, 2023 - 0.33%) interest represents a non-controlling interest. The accumulated deficit and current period income attributable to the non-controlling interest are insignificant and accordingly have not been presented separately in the consolidated  financial statements.

PLANT EQUIPMENT AND MINING PROPERTIES	9 Months Ended
	Sep. 30, 2024
PLANT EQUIPMENT AND MINING PROPERTIES
PLANT, EQUIPMENT AND MINING PROPERTIES	9. PLANT, EQUIPMENT AND MINING PROPERTIES       Mining properties     Office equipment, furniture, and fixtures     Computer equipment     Mine machinery and transportation equipment     Mill machinery and processing equipment     Buildings and construction in process     Total       $     $     $     $     $     $     $   COST                                           Balance at January 1, 2023     14,687       763       774       14,930       23,294       14,693       69,141   Additions / Transfers     3,716       78       1,176       3,270       3,079       701       12,020   Writedowns     -       (6 )     (22 )     (629 )     (141 )     -       (798 ) Effect of movements in exchange rates     (28 )     9       1       2       -       (24 )     (40 ) Balance at December 31, 2023     18,375       844       1,929       17,573       26,232       15,370       80,323   Additions / Transfers     542       410       15       398       1,932       325       3,622   Writedowns     -       (23 )     (23 )     (1,339 )     (221 )     (517 )     (2,123 ) Effect of movements in exchange rates     4       (3 )     -       (1 )     -       (8 )     (8 ) Balance at September 30, 2024     18,921       1,228       1,921       16,631       27,943       15,170       81,814                                                             ACCUMULATED DEPLETION AND DEPRECIATION / IMPAIRMENT       Balance at January 1, 2023     9,106       441       598       5,178       6,733       3,029       25,085   Additions / Transfers     367       111       204       676       1,170       294       2,822   Writedowns     -       (4 )     (21 )     (619 )     (9 )     -       (653 ) Balance at December 31, 2023     9,473       548       781       5,235       7,894       3,323       27,254   Additions / Transfers     317       99       302       1,200       346       237       2,501   Writedowns     -       (23 )     (23 )     (1,164 )     (151 )     (196 )     (1,557 ) Balance at September 30, 2024     9,790       624       1,060       5,271       8,089       3,364       28,198                                                             NET BOOK VALUE                                                         At September 30, 2024     9,131       604       861       11,360       19,854       11,806       53,616   At December 31, 2023     8,902       296       1,148       12,339       18,338       12,047       53,069   Included in Buildings and construction in process above are assets under construction of $2,610 as at September 30, 2024 (December 31, 2023 - $3,166) on which no depreciation was charged in the periods then ended. Once the assets are available for use, they will be transferred to the appropriate class of plant, equipment and mining properties.   As of September 30, 2024, the Company performed an evaluation of the property plant and equipment and recorded a write-down of $566 (December 31, 2023 - $144) against the carrying value of mine and mill machinery and transportation equipment due to damage and obsolescence.   As at September 30, 2024, plant, equipment and mining properties included a net carrying amount of $5,325 (December 31, 2023 - $5,832) for mining equipment and right of use assets under lease.

RELATED PARTY TRANSACTIONS AND BALANCES	9 Months Ended
	Sep. 30, 2024
RELATED PARTY TRANSACTIONS AND BALANCES	10.  RELATED PARTY TRANSACTIONS AND BALANCES   All related party transactions are recorded at the exchange amount which is the amount agreed to by the Company and the related party.    (a) Key management personnel   The Company has identified its directors and certain senior officers as its key management personnel. The compensation costs for key management personnel for the three and nine months ended September 30, 2024 and 2023 is as follows:       Three months ended September 30,     Nine months ended September 30,       2024     2023     2024     2023   Salaries, benefits, and consulting fees   $ 273     $ 289     $ 886     $ 869   Share-based payments     424       502       1,318       1,472       $ 697     $ 791     $ 2,204     $ 2,341     (b) Amounts due to/from related parties   In the normal course of operations, the Company transacts with companies related to Avino’s directors or officers. All amounts payable and receivable are non-interest bearing, unsecured and due on demand.   The following table summarizes the amounts were due to/(from) related parties:       September 30, 2024     December 31, 2023   Oniva International Services Corp.   $ 100     $ 102   Silver Wolf Exploration Ltd.     (39 )     (269 )     $ 61     $ (167 )   For services provided to the Company as President and Chief Executive Officer, the Company pays Intermark Capital Corporation (“ICC”), a company controlled by David Wolfin, the Company’s President and CEO and also a director, for consulting services. For the nine months ended September 30, 2024, the Company paid $212 (September 30, 2023 - $215) to ICC. (c) Other related party transactions   The Company has a cost sharing agreement with Oniva International Services Corp. (“Oniva”) for office and administration services. Pursuant to the cost sharing agreement, the Company will reimburse Oniva for the Company’s percentage of overhead and corporate expenses and for out-of-pocket expenses incurred on behalf of the Company, with a 2.5% markup. David Wolfin, President & CEO, and a director of the Company, is the sole owner of Oniva. The cost sharing agreement may be terminated with one-month notice by either party without penalty.   The transactions with Oniva are summarized below:       Three months ended September 30,     Nine months ended September 30,       2024     2023     2024     2023   Salaries and benefits   $ 235     $ 240     $ 731     $ 729   Office and miscellaneous     95       107       342       364       $ 330     $ 347     $ 1,073     $ 1,093

RECLAMATION PROVISION	9 Months Ended
	Sep. 30, 2024
RECLAMATION PROVISION
RECLAMATION PROVISION	11. RECLAMATION PROVISION   Management’s estimate of the reclamation provision at September 30, 2024, is $2,012 (December 31, 2023 – $2,195), and the undiscounted value of the obligation is $4,887 (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:       September 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     151       49   Effect of movements in exchange rates     (334 )     86   Balance at end of the period   $ 2,012     $ 2,195

SHARE CAPITAL AND SHAREBASED PAYMENTS	9 Months Ended
	Sep. 30, 2024
SHARE CAPITAL AND SHAREBASED PAYMENTS
SHARE CAPITAL AND SHARE-BASED PAYMENTS	12. SHARE CAPITAL AND SHARE-BASED PAYMENTS   (a) Authorized: Unlimited common shares without par value   (b) Issued:   (i) During the nine months ended September 30, 2024, the Company issued 5,050,585 common shares in an at-the-market offering under prospectus supplement for gross proceeds of $3,906. The Company paid a 2.75% cash commission of $107 on gross proceeds, for net proceeds of $3,799. The Company also incurred $169 in share issuance costs related to its base shelf prospectus and prospectus supplement filings.   During the nine months ended September 30, 2024, the Company issued 1,197,709 common shares upon exercise of RSUs. As a result, $1,018 was recorded to share capital.   During the nine months ended September 30, 2024, the Company issued 561,000 common shares following the exercise of 561,000 options. As a result, $572 was recorded to share capital, representing cash proceeds of $372 and the fair value upon issuance of $200.   (ii) During the year ended December 31, 2023, the Company issued 9,373,825 common shares in an at-the-market offering under prospectus supplement for gross proceeds of $5,648. The Company paid a 2.75% cash commission of $155 on gross proceeds, for net proceeds of $5,493. The Company also incurred $339 in share issuance costs related to its base shelf prospectus and prospectus supplement filings.   During the year ended December 31, 2023, the Company issued 1,005,333 common shares upon exercise of RSUs. As a result, $1,019 was recorded to share capital.   (c) Stock options:   The Company has a stock option plan to purchase the Company’s common shares, under which it may grant stock options of up to 10% of the Company’s total number of shares issued and outstanding on a non-diluted basis. The stock option plan provides for the granting of stock options to directors, officers, and employees, and to persons providing investor relations or consulting services, the limits being based on the Company’s total number of issued and outstanding shares per year. The stock options vest on the date of grant, except for those issued to persons providing investor relations services, which vest over a period of one year. The option price must be greater than or equal to the discounted market price on the grant date, and the option term cannot exceed ten years from the grant date.   Continuity of stock options is as follows:       Underlying Shares     Weighted Average Exercise Price (C$)                 Stock options outstanding, January 1, 2023     4,256,000     $ 1.36   Granted     2,545,000     $ 1.12   Expired     (105,000 )   $ 1.30   Cancelled / Forfeited     (30,000 )   $ 1.40   Stock options outstanding, December 31, 2023     6,666,000     $ 1.27   Granted     2,500,000     $ 0.78   Exercised     (561,000 )   $ 0.90   Cancelled / Forfeited     (190,000 )   $ 1.26   Stock options outstanding, September 30, 2024     8,415,000     $ 1.15   Stock options exercisable, September 30, 2024     7,165,000     $ 1.21   The following table summarizes information about the stock options outstanding and exercisable at September 30, 2024:           Outstanding     Exercisable   Expiry Date   Price (C$)     Number of Options     Weighted Average Remaining Contractual Life (Years)     Number of Options     Weighted Average Remaining Contractual Life (Years)   August 4, 2025   $ 1.64       1,620,000       0.84       1,620,000       0.84   March 25, 2027   $ 1.20       2,195,000       2.48       2,195,000       2.48   May 4, 2027   $ 0.92       25,000       2.59       25,000       2.59   March 29, 2028   $ 1.12       2,180,000       3.50       2,180,000       3.50   July 10, 2028   $ 1.12       150,000       3.78       150,000       3.78   March 25, 2029   $ 0.78       2,245,000       4.48       995,000       4.48                                                           8,415,000       2.99       7,165,000       2.10     Valuation of stock options requires the use of estimates and assumptions including the expected stock price volatility. The expected volatility used in valuing stock options is based on volatility observed in historical periods. Changes in the underlying assumptions can materially affect the fair value estimates. The fair value of the stock options was calculated using the Black-Scholes model with the following weighted average assumptions and resulting fair values:       September 30, 2024     December 31, 2023   Weighted average assumptions:             Risk-free interest rate     3.51 %     3.10 % Expected dividend yield     0 %     0 % Expected warrant life (years)     5       5   Expected stock price volatility     60.73 %     61.10 % Expected forfeiture rate     15 %     17 % Weighted average fair value   C$0.43     C$0.60     During the nine months ended September 30, 2024, the Company charged $610 (nine months ended September 30, 2023 - $783) to operations as share-based payments for the fair value of stock options granted.   (d) Restricted Share Units:   On April 19, 2018, the Company’s Restricted Share Unit (“RSU”) Plan was approved by its shareholders. The RSU Plan is administered by the Compensation Committee under the supervision of the Board of Directors as compensation to officers, directors, consultants, and employees. The Compensation Committee determines the terms and conditions upon which a grant is made, including any performance criteria or vesting period. Upon vesting, each RSU entitles the participant to receive one common share, provided that the participant is continuously employed with or providing services to the Company. RSUs track the value of the underlying common shares, but do not entitle the recipient to the underlying common shares until such RSUs vest, nor do they entitle a holder to exercise voting rights or any other rights attached to ownership or control of the common shares, until the RSU vests and the RSU participant receives common shares.   Continuity of RSUs is as follows:       Underlying Shares     Weighted Average Price (C$)                 RSUs outstanding, January 1, 2023     2,190,666     $ 1.27   Granted     1,878,320     $ 1.11   Exercised     (1,005,334 )   $ 1.37   Cancelled / Forfeited     (68,943 )   $ 1.14   RSUs outstanding, December 31, 2023     2,994,709     $ 1.03   Granted     1,881,000     $ 1.02   Exercised     (1,197,709 )   $ 1.15   Cancelled / Forfeited     (137,132 )   $ 1.08   RSUs outstanding, September 30, 2024     3,540,868     $ 1.08     The following table summarizes information about the RSUs outstanding at September 30, 2024:   Issuance Date   Price (C$)     Number of RSUs Outstanding   March 25, 2022   $ 1.19       556,539   March 29, 2023   $ 1.12       1,124,288   July 10, 2023   $ 0.94       50,000   April 1, 2024   $ 1.02       1,810,041                 3,540,868     During the nine months ended September 30, 2024, 1,881,000 RSUs (year ended December 31, 2023 – 1,878,320) were granted. The weighted average fair value at the measurement date was C$1.02, based on the TSX market price of the Company’s shares on the date the RSUs were granted.   During the nine months ended September 30, 2024, the Company charged $991 (September 30, 2023 - $1,026) to operations as share-based payments for the fair value of the RSUs vested. The fair value of the RSUs is recognized over the vesting period with reference to vesting conditions and the estimated RSUs expected to vest. (e) Earnings (loss) per share:   The calculations for basic earnings per share and diluted earnings per share are as follows:       Three months ended September 30,     Nine months ended September 30,       2024     2023     2024     2023   Net income (loss) for the period   $ 1,169     $ (803 )   $ 3,008     $ (21 ) Basic weighted average number of shares outstanding     135,070,079       122,433,272       132,925,193       120,093,760   Effect of dilutive share options, warrants, and RSUs     5,359,782       -       5,798,710       -   Diluted weighted average number of shares outstanding     140,429,861       122,433,272       138,723,903       120,093,760   Basic income (loss) per share   $ 0.01     $ (0.01 )   $ 0.02     $ (0.00 ) Diluted income (loss) per share   $ 0.01     $ (0.01 )   $ 0.02     $ (0.00 )

REVENUE AND COST OF SALES	9 Months Ended
	Sep. 30, 2024
REVENUE AND COST OF SALES
REVENUE AND COST OF SALES	13. REVENUE AND COST OF SALES   The Company’s revenues for the nine months ended September 30, 2024 and 2023, are all attributable to Mexico, from shipments of concentrate from the Avino Mine.   Three months ended September 30,     Nine months ended September 30,       2024     2023     2024     2023   Concentrate sales   $ 13,974     $ 11,599     $ 40,994     $ 31,429   Provisional pricing adjustments     642       717       802       (70 )     $ 14,616     $ 12,316     $ 41,796     $ 31,359     Cost of sales consists of changes in inventories, direct costs including personnel costs, mine site costs, energy costs (principally diesel fuel and electricity), maintenance and repair costs, operating supplies, external services, third party transport fees, depreciation and depletion, and other expenses for the periods. Direct costs include the costs of extracting co-products.   Cost of sales is based on the weighted average cost of inventory sold for the periods and consists of the following:       Three months ended September 30,     Nine months ended September 30,       2024     2023     2024     2023   Production costs   $ 7,952     $ 9,228     $ 26,095     $ 23,939   Write down of equipment and materials and supplies inventory     182       4       566       95   Depreciation and depletion     773       720       2,390       2,067       $ 8,907     $ 9,952     $ 29,051     $ 26,101

GENERAL AND ADMINISTRATIVE EXPENSES	9 Months Ended
	Sep. 30, 2024
GENERAL AND ADMINISTRATIVE EXPENSES	14. GENERAL AND ADMINISTRATIVE EXPENSES   General and administrative expenses consist of the following:       Three months ended September 30,     Nine months ended September 30,       2024     2023     2024     2023   Salaries and benefits   $ 585     $ 383     $ 1,440     $ 1,069   Office and miscellaneous     308       391       1,266       1,008   Management and consulting fees     126       109       391       312   Professional fees     240       195       709       898   Investor relations     44       49       225       216   Regulatory and compliance fees     52       35       145       126   Directors fees     38       43       128       132   Depreciation     39       38       114       108   Travel and promotion     23       37       100       130       $ 1,455     $ 1,280     $ 4,518     $ 3,999

COMMITMENTS CONTINGENCIES	9 Months Ended
	Sep. 30, 2024
COMMITMENTS	15. COMMITMENTS & CONTINGENCIES   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 10.   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:       September 30, 2024     December 31, 2023   Not later than one year   $ 189     $ 714   Later than one year and not later than five years     1,173       1,241   Later than five years     3,710       3,965       $ 5,072     $ 5,920     Office lease payments recognized as an expense during the nine months ended September 30, 2024, totalled $30 (September 30, 2023 - $27).   Due to the nature of the Company’s activities, the Company is from time to time involved in various claims and legal proceedings arising in the conduct of its business. At the reporting date, none of such claims and legal proceedings are considered probable of resulting in a material loss or judgment against the Company.

SUPPLEMENT CASH FLOW INFORMATION	9 Months Ended
	Sep. 30, 2024
SUPPLEMENTARY CASH FLOW INFORMATION	16. SUPPLEMENTARY CASH FLOW INFORMATION       September 30, 2024     September 30, 2023   Net change in non-cash working capital items:             Inventory   $ (2,050 )   $ (2,720 ) Prepaid expenses and other assets     (432 )     (329 ) Taxes recoverable     3,088       (2,075 ) Taxes payable     529       (809 ) Accounts payable and accrued liabilities     (2,622 )     2,592   Amounts receivable     273       199   Amounts due to related parties     (355 )     (59 )     $ (1,569 )   $ (3,201 )         September 30, 2024     September 30, 2023   Other supplementary information:             Interest paid   $ 187     $ 180   Taxes paid     13       29       $ 200     $ 209         September 30, 2024     September 30, 2023   Non-cash investing and financing activities:             Shares acquired under terms of option agreements     -       41   Transfer of share-based payments reserve upon exercise of RSUs     1,018       1,019   Transfer of share-based payments reserve upon exercise of options     572       -   Equipment acquired under finance leases and equipment loans     887       2,888       $ 2,477     $ 3,948

FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2024
FINANCIAL INSTRUMENTS	17.  FINANCIAL INSTRUMENTS   The fair values of the Company’s amounts due to related parties and accounts payable approximate their carrying values because of the short-term nature of these instruments. Cash, amounts receivable, long-term investments, and warrant liability are recorded at fair value. The carrying amounts of the Company’s equipment loans, and finance lease obligations are a reasonable approximation of their fair values based on current market rates for similar financial instruments.   The Company’s financial instruments are exposed to certain financial risks, including credit risk, liquidity risk, and market risk.   (a) Credit Risk   Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. The Company has exposure to credit risk through its cash, long-term investments and amounts receivable. The Company manages credit risk, in respect of cash and short-term investments, by maintaining the majority of cash and short-term investments at highly rated financial institutions.   The Company is exposed to a significant concentration of credit risk with respect to its trade accounts receivable balance because all of its concentrate sales are with three (December 31, 2023 – two) counterparties (see Note 18). However, the Company has not recorded any allowance against its trade receivables because to-date all balances owed have been settled in full when due (typically within 60 days of submission) and because of the nature of the counterparties.   The Company’s maximum exposure to credit risk at the end of any period is equal to the carrying amount of these financial assets as recorded in the unaudited condensed consolidated interim statement of financial position. At September 30, 2024, no amounts were held as collateral. (b) Liquidity Risk   Liquidity risk is the risk that the Company will encounter difficulty in satisfying financial obligations as they become due. The Company manages its liquidity risk by forecasting cash flows required by its operating, investing and financing activities. The Company had cash at September 30, 2024, in the amount of $7,767 and current assets exceeded current liabilities by $15,878 in order to meet short-term business requirements. Accounts payable have contractual maturities of approximately 30 to 90 days, or are due on demand and are subject to normal trade terms. The current portions of finance lease obligations are due within 12 months of the  consolidated  statement of financial position date. Amounts due to related parties are without stated terms of interest or repayment.   The maturity profiles of the Company’s contractual obligations and commitments as at September 30, 2024, are summarized as follows:       Total     Less Than 1 Year     1-5 years     More Than 5 Years   Accounts payable and accrued liabilities   $ 9,243     $ 9,243     $ -     $ -   Due to related parties     61       61                   Minimum rental and lease payments     5,072       189       1,173       3,710   Equipment loans     248       178       70       -   Finance lease obligations     3,148       1,743       1,405       -   Total   $ 17,772     $ 11,414     $ 2,648     $ 3,710     (c) Market Risk   Market risk consists of interest rate risk, foreign currency risk and price risk. These are discussed further below.   Interest Rate Risk   Interest rate risk consists of two components:   (i) To the extent that payments made or received on the Company’s monetary assets and liabilities are affected by changes in the prevailing market interest rates, the Company is exposed to interest rate cash flow risk.   (ii) To the extent that changes in prevailing market rates differ from the interest rates on the Company’s monetary assets and liabilities, the Company is exposed to interest rate price risk.   In management’s opinion, the Company is not materially exposed to interest rate risk, as any material debt obligations that bear interest are fixed and not subject to floating interest rates. A 10% change in the interest rate would not result in a material impact on the Company’s operations. Foreign Currency Risk   Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in foreign exchange rates. The Company is exposed to foreign currency risk to the extent that the following monetary assets and liabilities are denominated in Mexican pesos and Canadian dollars:       September 30, 2024     December 31, 2023       MXN     CDN     MXN     CDN   Cash   $ 5,060     $ 518     $ 13,338     $ 70   Due from related parties     764       -       4,558       -   Long-term investments     -       1,979       -       1,236   Reclamation bonds     -       6       -       6   Amounts receivable     463       29       18,644       26   Accounts payable and accrued liabilities     (64,581 )     (44 )     (95,662 )     (150 ) Due to related parties     -       (136 )     -       (135 ) Finance lease obligations     (2,413 )     (584 )     (1,129 )     (217 ) Net exposure     (60,707 )     1,768       (60,251 )     836   US dollar equivalent   $ (3,084 )   $ 1,310     $ (3,567 )   $ 577     Based on the net US dollar denominated asset and liability exposures as at September 30, 2024, a 10% fluctuation in the US/Mexican and Canadian/US exchange rates would impact the Company’s earnings for the nine months ended September 30, 2024, by approximately $189. The Company has not entered into any foreign currency contracts to mitigate this risk.   Price Risk   Price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in market prices, other than those arising from interest rate risk or foreign currency risk.   The Company is exposed to price risk with respect to its amounts receivable, as certain trade accounts receivable are recorded based on provisional terms that are subsequently adjusted according to quoted metal prices at the date of final settlement. Quoted metal prices are affected by numerous factors beyond the Company’s control and are subject to volatility, and the Company does not employ hedging strategies to limit its exposure to price risk. At September 30, 2024, based on outstanding accounts receivable that were subject to pricing adjustments, a 10% change in metals prices would have an impact on net earnings (loss) of approximately $212.   The Company is exposed to price risk with respect to its long-term investments, as these investments are carried at fair value based on quoted market prices. Changes in market prices result in gains or losses being recognized in net income (loss). At September 30, 2024, a 10% change in market prices would have an impact on net earnings (loss) of approximately $147.   The Company’s profitability and ability to raise capital to fund exploration, evaluation and production activities is subject to risks associated with fluctuations in mineral prices. Management closely monitors commodity prices, individual equity movements, and the stock market to determine the appropriate course of action to be taken by the Company. (d) Classification of Financial Instruments   IFRS 13 Financial Instruments: Disclosures establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value as follows:   Level 1 – quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 – inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices); and Level 3 – inputs for the asset or liability that are not based on observable market data (unobservable inputs).   The following table sets forth the Company’s financial assets measured at fair value on a recurring basis by level within the fair value hierarchy as at September 30, 2024:       Level 1     Level 2     Level 3   Financial assets                   Cash   $ 7,767     $ -     $ -   Amounts receivable     -       3,030       -   Long-term investments     1,439       -       27   Total financial assets   $ 9,206     $ 3,030     $ 27     The Company uses Black-Scholes model to measure its Level 3 financial instruments. As at September 30, 2024 the Company’s Level 3 financial instruments consisted of share purchase warrants in Silver Wolf Exploration Ltd.. See Note 6 for further details.

SEGMENTED INFORMATION	9 Months Ended
	Sep. 30, 2024
SEGMENTED INFORMATION	18. SEGMENTED INFORMATION   The Company reviews its segment reporting to ensure it reflects the operational structure of the Company and enables the Company's Chief Operating Decision Maker (the Company’s CEO) to review operating segment performance. We have determined there is a single reportable operating segment as of September 30, 2024.   The Company’s revenues for the nine months ended September 30, 2024 of $41,796 (September 30, 2023 - $31,359) are all attributable to Mexico, from shipments of concentrate.   On the condensed consolidated interim statements of operations, the Company had revenue from the following product mixes:       Three months ended September 30,     Nine months ended September 30,       2024     2023     2024     2023   Silver   $ 6,462     $ 4,280     $ 18,246     $ 11,610   Copper     6,497       5,907       18,329       14,658   Gold     3,359       3,669       9,894       9,516   Penalties, treatment costs and refining charges     (1,702 )     (1,540 )     (4,673 )     (4,425 ) Total revenue from mining operations   $ 14,616     $ 12,316     $ 41,796     $ 31,359   For the three and nine months ended September 30, 2024 and 2023, the Company had the following customers that accounted for total revenues as follows:       Three months ended September 30,     Nine months ended September 30,       2024     2023                    2024     2023   Customer #1   $ 14,117     $ 9,101     $ 35,404     $ 26,209   Customer #2     487       3,220       5,930       5,246   Other customers     12       (5 )     462       (96 ) Total revenue from mining operations   $ 14,616     $ 12,316     $ 41,796     $ 31,359     Geographical information relating to the Company’s non-current assets (other than financial instruments) is as follows:        September 30, 2024     December 31, 2023   Exploration and evaluation assets - Mexico   $ 52,713     $ 50,110   Exploration and evaluation assets - Canada     1       1   Total exploration and evaluation assets   $ 52,714     $ 50,111         September 30, 2024     December 31, 2023   Plant, equipment, and mining properties - Mexico   $ 53,162     $ 52,891   Plant, equipment, and mining properties - Canada     454       178   Total plant, equipment, and mining properties   $ 53,616     $ 53,069

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2024
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	19. SUBSEQUENT EVENTS   Subsequent to September 30, 2024, the Company issued 702,500 common shares through the exercise of 702,500 stock options at an average exercise price of C$1.15 for proceeds of C$806   Subsequent to September 30, 2024, the Company issued 4,288,100 common shares in at-the-market offerings under prospectus supplement for gross proceeds of $5,827.

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2024
Statement of Compliance	These unaudited condensed consolidated interim financial statements have been prepared in accordance with International Accounting Standard (“IAS”) 34 – Interim Financial Reporting under International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”). These unaudited condensed consolidated interim financial statements follow the same accounting policies and methods of application as the most recent annual audited consolidated financial statements of the Company. These unaudited condensed consolidated interim financial statements do not contain all of the information required for full annual consolidated financial statements. Accordingly, these unaudited condensed consolidated interim financial statements should be read in conjunction with the Company’s December 31, 2023, annual consolidated financial statements, which were prepared in accordance with IFRS as issued by the IASB.   These unaudited condensed consolidated interim financial statements are expressed in US dollars and have been prepared on a historical cost basis except for financial instruments that have been measured at fair value.  In addition, these unaudited condensed consolidated interim financial statements have been prepared using the accrual basis of accounting on a going concern basis. The accounting policies set out in the December 31, 2023 annual consolidated financial statements are applied consistently to all periods presented in these unaudited condensed consolidated interim financial statements as if the policies have always been in effect.
Foreign currency translation	Foreign currency transactions   Transactions in currencies other than the functional currency are recorded at the rates of exchange prevailing on the dates of the transactions. At each financial position reporting date, monetary assets and liabilities that are denominated in foreign currencies are translated at the rates prevailing at the date of the statement of financial position.  Non-monetary items that are measured in terms of historical cost in a foreign currency are not re-translated.   Foreign operations   Subsidiaries that have functional currencies other than the US dollar translate their statement of operations items at the average rate during the year. Assets and liabilities are translated at exchange rates prevailing at the end of each reporting period. Exchange rate variations resulting from the retranslation at the closing rate of the net investment in these subsidiaries, together with differences between their statement of operations items translated at actual and average rates, are recognized in accumulated other comprehensive income (loss). On disposition or partial disposition of a foreign operation, the cumulative amount of related exchange difference is recognized in the statement of operations.
Significant accounting judgments and estimates	The Company’s management makes judgments in its process of applying the Company’s accounting policies to the preparation of its unaudited condensed consolidated interim financial statements. In addition, the preparation of financial data requires that the Company’s management make assumptions and estimates of the impacts on the carrying amounts of the Company’s assets and liabilities at the end of the reporting period from uncertain future events and on the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates as the estimation process is inherently uncertain. Estimates are reviewed on an ongoing basis based on historical experience and other factors that are considered to be relevant under the circumstances. Revisions to estimates and the resulting impacts on the carrying amounts of the Company’s assets and liabilities are accounted for prospectively.   The critical judgments and estimates applied in the preparation of the Company’s unaudited condensed consolidated interim financial statements for the nine months ended September 30, 2024, are consistent with those applied and disclosed in Note 2 to the Company’s audited consolidated financial statements for the year ended December 31, 2023.
Basis of consolidation	The audited consolidated financial statements include the accounts of the Company and its Mexican subsidiaries as follows:   Subsidiary Ownership Interest Jurisdiction Nature of Operations Oniva Silver and Gold Mines S.A. de C.V. 100% Mexico Mexican administration Nueva Vizcaya Mining, S.A. de C.V. 100% Mexico Mexican administration Promotora Avino, S.A. de C.V. (“Promotora”) 79.09% Mexico Holding company Compañía Minera Mexicana de Avino, S.A. de C.V. (“Avino Mexico”) 98.45% direct 1.22% indirect (Promotora) 99.67% effective Mexico Mining and exploration La Luna Silver & Gold Mines Ltd. 100% Canada Holding company La Preciosa Silver & Gold Mines Ltd. 100% Canada Holding company Proyectos Mineros La Preciosa S.A. de C.V. 100% Mexico Mining and exploration Cervantes LLP 100% U.S. Holding company   Intercompany balances and transactions, including unrealized income and expenses arising from intercompany transactions, are eliminated in preparing the consolidated financial statements.

BASIS OF PRESENTATION (Tables)	9 Months Ended
	Sep. 30, 2024
Schedule of Audited Consolidated Financial Statements	Subsidiary Ownership Interest Jurisdiction Nature of Operations Oniva Silver and Gold Mines S.A. de C.V. 100% Mexico Mexican administration Nueva Vizcaya Mining, S.A. de C.V. 100% Mexico Mexican administration Promotora Avino, S.A. de C.V. (“Promotora”) 79.09% Mexico Holding company Compañía Minera Mexicana de Avino, S.A. de C.V. (“Avino Mexico”) 98.45% direct 1.22% indirect (Promotora) 99.67% effective Mexico Mining and exploration La Luna Silver & Gold Mines Ltd. 100% Canada Holding company La Preciosa Silver & Gold Mines Ltd. 100% Canada Holding company Proyectos Mineros La Preciosa S.A. de C.V. 100% Mexico Mining and exploration Cervantes LLP 100% U.S. Holding company

TAXES RECEOVERABLE (Tables)	9 Months Ended
	Sep. 30, 2024
Schedule Of Income Taxes Recoverable And Canadian Sales Taxes	September 30, 2024     December 31, 2023   VAT recoverable   $ 1,550     $ 3,231   GST recoverable     22       20   Income taxes recoverable     1,920       3,329       $ 3,492     $ 6,580

INVENTORY (Tables)	9 Months Ended
	Sep. 30, 2024
Schedule Of Inventory	September 30, 2024     December 31, 2023   Process material stockpiles   $ 3,482     $ 4,050   Concentrate inventory     4,328       2,448   Materials and supplies     3,064       2,328       $ 10,874     $ 8,826

LONGTERM INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2024
Schedule Of Long-term Investments	Fair Value December 31,     Net     Movements in foreign     Fair value adjustments     Fair Value September 30,       2023      Additions     exchange     for the period     2024   Talisker Resources Common Shares   $ 782     $ -     $ (7 )   $ 155     $ 930   Silver Wolf Exploration Ltd. (“Silver Wolf”) Common Shares     71       426       (4 )     (46 )     447   Silver Wolf Exploration Ltd. Warrants     -       30       -       (3 )     27   Endurance Gold Corp. Common Shares     81       -       (1 )     (19 )     61   Other     -       1       -       -       1       $ 934     $ 457     $ (12 )   $ 87     $ 1,466

EXPLORATION AND EVALUATION ASSETS (Tables)	9 Months Ended
	Sep. 30, 2024
Schedule Of Exploration And Evaluation Costs	Avino,  Mexico     La Preciosa, Mexico     British Columbia & Yukon, Canada     Total               Balance, December 31, 2022   $ 11,828     $ 37,975     $ 1     $ 49,804                                     La Preciosa non-core concessions transfer     2,946       (2,946 )             -   Drilling and exploration     877       435       -       1,312   Assessments and taxes     88       (930 )     -       (842 ) Effect of movements in exchange rates     22       (122 )     -       (100 ) Option income     (63 )     -       -       (63 )                                   Balance, December 31, 2023   $ 15,698     $ 34,412     $ 1     $ 50,111   Drilling and exploration     129       1,265       -       1,394   Assessments and taxes     195       1,018       -       1,213   Effect of movements in exchange rates     (4 )     -       -       (4 )                                   Balance, September 30, 2024   $ 16,018     $ 36,695     $ 1     $ 52,714

PLANT EQUIPMENT AND MINING PROPERTIES (Tables)	9 Months Ended
	Sep. 30, 2024
PLANT EQUIPMENT AND MINING PROPERTIES
Schedule Of Plant, Equipment And Mining Properties	Mining properties     Office equipment, furniture, and fixtures     Computer equipment     Mine machinery and transportation equipment     Mill machinery and processing equipment     Buildings and construction in process     Total       $     $     $     $     $     $     $   COST                                           Balance at January 1, 2023     14,687       763       774       14,930       23,294       14,693       69,141   Additions / Transfers     3,716       78       1,176       3,270       3,079       701       12,020   Writedowns     -       (6 )     (22 )     (629 )     (141 )     -       (798 ) Effect of movements in exchange rates     (28 )     9       1       2       -       (24 )     (40 ) Balance at December 31, 2023     18,375       844       1,929       17,573       26,232       15,370       80,323   Additions / Transfers     542       410       15       398       1,932       325       3,622   Writedowns     -       (23 )     (23 )     (1,339 )     (221 )     (517 )     (2,123 ) Effect of movements in exchange rates     4       (3 )     -       (1 )     -       (8 )     (8 ) Balance at September 30, 2024     18,921       1,228       1,921       16,631       27,943       15,170       81,814                                                             ACCUMULATED DEPLETION AND DEPRECIATION / IMPAIRMENT       Balance at January 1, 2023     9,106       441       598       5,178       6,733       3,029       25,085   Additions / Transfers     367       111       204       676       1,170       294       2,822   Writedowns     -       (4 )     (21 )     (619 )     (9 )     -       (653 ) Balance at December 31, 2023     9,473       548       781       5,235       7,894       3,323       27,254   Additions / Transfers     317       99       302       1,200       346       237       2,501   Writedowns     -       (23 )     (23 )     (1,164 )     (151 )     (196 )     (1,557 ) Balance at September 30, 2024     9,790       624       1,060       5,271       8,089       3,364       28,198                                                             NET BOOK VALUE                                                         At September 30, 2024     9,131       604       861       11,360       19,854       11,806       53,616   At December 31, 2023     8,902       296       1,148       12,339       18,338       12,047       53,069

RELATED PARTY TRANSACTIONS AND BALANCES (Tables)	9 Months Ended
	Sep. 30, 2024
Schedule Of Related Party Transactions With Oniva	Three months ended September 30,     Nine months ended September 30,       2024     2023     2024     2023   Salaries and benefits   $ 235     $ 240     $ 731     $ 729   Office and miscellaneous     95       107       342       364       $ 330     $ 347     $ 1,073     $ 1,093
Schedule Of Related Party Transactions And Balances	Three months ended September 30,     Nine months ended September 30,       2024     2023     2024     2023   Salaries, benefits, and consulting fees   $ 273     $ 289     $ 886     $ 869   Share-based payments     424       502       1,318       1,472       $ 697     $ 791     $ 2,204     $ 2,341
Schedule Of Due To Related Parties	September 30, 2024     December 31, 2023   Oniva International Services Corp.   $ 100     $ 102   Silver Wolf Exploration Ltd.     (39 )     (269 )     $ 61     $ (167 )

RECLAMATION PROVISION (Tables)	9 Months Ended
	Sep. 30, 2024
RECLAMATION PROVISION
Reconciliation Of The Changes In The Company's Reclamation Provision	September 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     151       49   Effect of movements in exchange rates     (334 )     86   Balance at end of the period   $ 2,012     $ 2,195

SHARE CAPITAL AND SHAREBASED PAYMENTS (Tables)	9 Months Ended
	Sep. 30, 2024
SHARE CAPITAL AND SHAREBASED PAYMENTS
Schedule Of Stock Options	Underlying Shares     Weighted Average Exercise Price (C$)                 Stock options outstanding, January 1, 2023     4,256,000     $ 1.36   Granted     2,545,000     $ 1.12   Expired     (105,000 )   $ 1.30   Cancelled / Forfeited     (30,000 )   $ 1.40   Stock options outstanding, December 31, 2023     6,666,000     $ 1.27   Granted     2,500,000     $ 0.78   Exercised     (561,000 )   $ 0.90   Cancelled / Forfeited     (190,000 )   $ 1.26   Stock options outstanding, September 30, 2024     8,415,000     $ 1.15   Stock options exercisable, September 30, 2024     7,165,000     $ 1.21
Schedule Of Stock Options Outstanding And Exercisable	Outstanding     Exercisable   Expiry Date   Price (C$)     Number of Options     Weighted Average Remaining Contractual Life (Years)     Number of Options     Weighted Average Remaining Contractual Life (Years)   August 4, 2025   $ 1.64       1,620,000       0.84       1,620,000       0.84   March 25, 2027   $ 1.20       2,195,000       2.48       2,195,000       2.48   May 4, 2027   $ 0.92       25,000       2.59       25,000       2.59   March 29, 2028   $ 1.12       2,180,000       3.50       2,180,000       3.50   July 10, 2028   $ 1.12       150,000       3.78       150,000       3.78   March 25, 2029   $ 0.78       2,245,000       4.48       995,000       4.48                                                           8,415,000       2.99       7,165,000       2.10
Schedule of fair value of the stock options was calculated using the Black-Scholes model	September 30, 2024     December 31, 2023   Weighted average assumptions:             Risk-free interest rate     3.51 %     3.10 % Expected dividend yield     0 %     0 % Expected warrant life (years)     5       5   Expected stock price volatility     60.73 %     61.10 % Expected forfeiture rate     15 %     17 % Weighted average fair value   C$0.43     C$0.60
Schedule Of Rsu Outstanding	Underlying Shares     Weighted Average Price (C$)                 RSUs outstanding, January 1, 2023     2,190,666     $ 1.27   Granted     1,878,320     $ 1.11   Exercised     (1,005,334 )   $ 1.37   Cancelled / Forfeited     (68,943 )   $ 1.14   RSUs outstanding, December 31, 2023     2,994,709     $ 1.03   Granted     1,881,000     $ 1.02   Exercised     (1,197,709 )   $ 1.15   Cancelled / Forfeited     (137,132 )   $ 1.08   RSUs outstanding, September 30, 2024     3,540,868     $ 1.08
Schedule of summarizes information about the RSUs	Issuance Date   Price (C$)     Number of RSUs Outstanding   March 25, 2022   $ 1.19       556,539   March 29, 2023   $ 1.12       1,124,288   July 10, 2023   $ 0.94       50,000   April 1, 2024   $ 1.02       1,810,041                 3,540,868
Schedule Of Basic Earnings Per Share And Diluted Earnings Per Share	Three months ended September 30,     Nine months ended September 30,       2024     2023     2024     2023   Net income (loss) for the period   $ 1,169     $ (803 )   $ 3,008     $ (21 ) Basic weighted average number of shares outstanding     135,070,079       122,433,272       132,925,193       120,093,760   Effect of dilutive share options, warrants, and RSUs     5,359,782       -       5,798,710       -   Diluted weighted average number of shares outstanding     140,429,861       122,433,272       138,723,903       120,093,760   Basic income (loss) per share   $ 0.01     $ (0.01 )   $ 0.02     $ (0.00 ) Diluted income (loss) per share   $ 0.01     $ (0.01 )   $ 0.02     $ (0.00 )

REVENUE AND COST OF SALES (Tables)	9 Months Ended
	Sep. 30, 2024
REVENUE AND COST OF SALES
Schedule Of Revenue	Three months ended September 30,     Nine months ended September 30,       2024     2023     2024     2023   Concentrate sales   $ 13,974     $ 11,599     $ 40,994     $ 31,429   Provisional pricing adjustments     642       717       802       (70 )     $ 14,616     $ 12,316     $ 41,796     $ 31,359
Schedule Of Cost Of Sales	Three months ended September 30,     Nine months ended September 30,       2024     2023     2024     2023   Production costs   $ 7,952     $ 9,228     $ 26,095     $ 23,939   Write down of equipment and materials and supplies inventory     182       4       566       95   Depreciation and depletion     773       720       2,390       2,067       $ 8,907     $ 9,952     $ 29,051     $ 26,101

GENERAL AND ADMINISTRATIVE EXPENSES (Tables)	9 Months Ended
	Sep. 30, 2024
Schedule Of General And Administrative Expenses	Three months ended September 30,     Nine months ended September 30,       2024     2023     2024     2023   Salaries and benefits   $ 585     $ 383     $ 1,440     $ 1,069   Office and miscellaneous     308       391       1,266       1,008   Management and consulting fees     126       109       391       312   Professional fees     240       195       709       898   Investor relations     44       49       225       216   Regulatory and compliance fees     52       35       145       126   Directors fees     38       43       128       132   Depreciation     39       38       114       108   Travel and promotion     23       37       100       130       $ 1,455     $ 1,280     $ 4,518     $ 3,999

COMMITMENTS CONTINGENCIES (Tables)	9 Months Ended
	Sep. 30, 2024
Schedule Of Commitments	September 30, 2024     December 31, 2023   Not later than one year   $ 189     $ 714   Later than one year and not later than five years     1,173       1,241   Later than five years     3,710       3,965       $ 5,072     $ 5,920

SUPPLEMENT CASH FLOW INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2024
Schedule Of Supplement Cash Flow Information	September 30, 2024     September 30, 2023   Net change in non-cash working capital items:             Inventory   $ (2,050 )   $ (2,720 ) Prepaid expenses and other assets     (432 )     (329 ) Taxes recoverable     3,088       (2,075 ) Taxes payable     529       (809 ) Accounts payable and accrued liabilities     (2,622 )     2,592   Amounts receivable     273       199   Amounts due to related parties     (355 )     (59 )     $ (1,569 )   $ (3,201 )         September 30, 2024     September 30, 2023   Other supplementary information:             Interest paid   $ 187     $ 180   Taxes paid     13       29       $ 200     $ 209         September 30, 2024     September 30, 2023   Non-cash investing and financing activities:             Shares acquired under terms of option agreements     -       41   Transfer of share-based payments reserve upon exercise of RSUs     1,018       1,019   Transfer of share-based payments reserve upon exercise of options     572       -   Equipment acquired under finance leases and equipment loans     887       2,888       $ 2,477     $ 3,948

FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2024
Schedule Of Contractual Obligations And Commitments	Total     Less Than 1 Year     1-5 years     More Than 5 Years   Accounts payable and accrued liabilities   $ 9,243     $ 9,243     $ -     $ -   Due to related parties     61       61                   Minimum rental and lease payments     5,072       189       1,173       3,710   Equipment loans     248       178       70       -   Finance lease obligations     3,148       1,743       1,405       -   Total   $ 17,772     $ 11,414     $ 2,648     $ 3,710
Schedule Of Foreign Currency Risk	September 30, 2024     December 31, 2023       MXN     CDN     MXN     CDN   Cash   $ 5,060     $ 518     $ 13,338     $ 70   Due from related parties     764       -       4,558       -   Long-term investments     -       1,979       -       1,236   Reclamation bonds     -       6       -       6   Amounts receivable     463       29       18,644       26   Accounts payable and accrued liabilities     (64,581 )     (44 )     (95,662 )     (150 ) Due to related parties     -       (136 )     -       (135 ) Finance lease obligations     (2,413 )     (584 )     (1,129 )     (217 ) Net exposure     (60,707 )     1,768       (60,251 )     836   US dollar equivalent   $ (3,084 )   $ 1,310     $ (3,567 )   $ 577
Schedule Of Fair Value On Recurring Basis	Level 1     Level 2     Level 3   Financial assets                   Cash   $ 7,767     $ -     $ -   Amounts receivable     -       3,030       -   Long-term investments     1,439       -       27   Total financial assets   $ 9,206     $ 3,030     $ 27

SEGMENTED INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2024
Schedule Of consolidated statements of operations forrevenue	Three months ended September 30,     Nine months ended September 30,       2024     2023     2024     2023   Silver   $ 6,462     $ 4,280     $ 18,246     $ 11,610   Copper     6,497       5,907       18,329       14,658   Gold     3,359       3,669       9,894       9,516   Penalties, treatment costs and refining charges     (1,702 )     (1,540 )     (4,673 )     (4,425 ) Total revenue from mining operations   $ 14,616     $ 12,316     $ 41,796     $ 31,359
Schedule Of customers accounted for total revenues	Three months ended September 30,     Nine months ended September 30,       2024     2023                    2024     2023   Customer #1   $ 14,117     $ 9,101     $ 35,404     $ 26,209   Customer #2     487       3,220       5,930       5,246   Other customers     12       (5 )     462       (96 ) Total revenue from mining operations   $ 14,616     $ 12,316     $ 41,796     $ 31,359
Schedule Of Geographical information relating non-current assets	September 30, 2024     December 31, 2023   Exploration and evaluation assets - Mexico   $ 52,713     $ 50,110   Exploration and evaluation assets - Canada     1       1   Total exploration and evaluation assets   $ 52,714     $ 50,111         September 30, 2024     December 31, 2023   Plant, equipment, and mining properties - Mexico   $ 53,162     $ 52,891   Plant, equipment, and mining properties - Canada     454       178   Total plant, equipment, and mining properties   $ 53,616     $ 53,069

BASIS OF PRESENTATION (Details)	9 Months Ended
	Sep. 30, 2024
Oniva Silver And GoldMines SADeCV [Member]
Statement [Line Items]
Ownership Interest	100.00%
Jurisdiction	Mexico
Nueva Vizcaya Mining, S.A. de C.V. [Member]
Statement [Line Items]
Ownership Interest	100.00%
Jurisdiction	Mexico
Promotora Avino, S.A. de C.V. [Member]
Statement [Line Items]
Ownership Interest	79.09%
Jurisdiction	Mexico
La Preciosa Silver & Gold Mines Ltd. [Member]
Statement [Line Items]
Ownership Interest	100.00%
Jurisdiction	Canada
La Luna Silver & Gold Mines Ltd. [Member]
Statement [Line Items]
Ownership Interest	100.00%
Jurisdiction	Canada
Proyectos Mineros La Preciosa S.A. de C.V. [Member]
Statement [Line Items]
Ownership Interest	100.00%
Jurisdiction	Mexico
Cervantes LLP [Member]
Statement [Line Items]
Ownership Interest	100.00%
Jurisdiction	U.S.
Compania Minera Mexicana de Avino, S.A. de C.V. [Member]
Statement [Line Items]
Jurisdiction	Mexico
Ownership Interest Indirect	1.22%
Ownership Interest Direct	98.45%
Ownership Interest Effective	99.67%

TAXES RECOVERABLE (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Vat Recoverable	$ 1,550	$ 3,231
Gst Recoverable	22	20
Income Taxes Recoverable	1,920	3,329
Total Taxes Recoverable	$ 3,492	$ 6,580

INVENTORY (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Process Material Stockpiles	$ 3,482	$ 4,050
Concentrate Inventory	4,328	2,448
Materials And Supplies	3,064	2,328
Inventories	$ 10,874	$ 8,826

INVENTORY (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Amount of inventory recognized as an expense	$ 8,725,000	$ 9,948,000	$ 28,485,000	$ 26,006,000
Wrote down material and supplies inventory			$ 0	$ 84,000

LONG TERM INVESTMENTS (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Statement [Line Items]
Fair Value Of Long Term Investments, Begining Balance	$ 934
Net Additions And (warrants Exercised)	457
Movements In Foreign Exchange	(12)
Fair Value Adjustments For The Period	87
Fair Value Of Long Term Investments, Ending Balance	1,466
Talisker Resources Ltd [Member] | Common Shares [Member]
Statement [Line Items]
Fair Value Of Long Term Investments, Begining Balance	782
Net Additions And (warrants Exercised)	0
Movements In Foreign Exchange	(7)
Fair Value Adjustments For The Period	155
Fair Value Of Long Term Investments, Ending Balance	930
Endurance Gold Corp. Common Shares
Statement [Line Items]
Fair Value Of Long Term Investments, Begining Balance	81
Net Additions And (warrants Exercised)	0
Movements In Foreign Exchange	(1)
Fair Value Adjustments For The Period	(19)
Fair Value Of Long Term Investments, Ending Balance	61
Silver Wolf Exploration Ltd. [Member] | Common Share [Member]
Statement [Line Items]
Fair Value Of Long Term Investments, Begining Balance	71
Net Additions And (warrants Exercised)	426
Movements In Foreign Exchange	(4)
Fair Value Adjustments For The Period	(46)
Fair Value Of Long Term Investments, Ending Balance	447
Silver Wolf Exploration Ltd. Warrants [Member]
Statement [Line Items]
Fair Value Of Long Term Investments, Begining Balance	0
Net Additions And (warrants Exercised)	30
Movements In Foreign Exchange	0
Fair Value Adjustments For The Period	(3)
Fair Value Of Long Term Investments, Ending Balance	27
Other
Statement [Line Items]
Fair Value Of Long Term Investments, Begining Balance	0
Net Additions And (warrants Exercised)	1
Movements In Foreign Exchange	0
Fair Value Adjustments For The Period	0
Fair Value Of Long Term Investments, Ending Balance	$ 1

LONG TERM INVESTMENTS (Details Narrative) - 9 months ended Sep. 30, 2024 - Silver Wolf [Member] $ in Thousands	USD ($) shares	$ / shares
Statement [Line Items]
Issue of common share Of debt settlement	2,292,000
Debt settlement | $	$ 335
Purchase price | $ / shares		$ 0.15
Exercise price | $ / shares		$ 0.25
Issuer Financing Exemption private placement	833,334
Investment | $	$ 91
Non-transferable common share purchase warrants	416,667

EXPLORATION AND EVALUATION ASSETS (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Statement [Line Items]
Beginning balance	$ 50,111,000	$ 49,804,000
Drilling and exploration	1,394,000	1,312,000
Assessments and taxes	1,213,000	(842,000)
Effect of movements in exchange rates	(4,000)	(100,000)
La preciosa non-core concessions transfer		0
Option income		(63,000)
Ending balance	52,714,000	50,111,000
Avino, Mexico City [Member]
Statement [Line Items]
Beginning balance	15,698,000	11,828,000
Drilling and exploration	129,000	877,000
Assessments and taxes	195,000	88,000
Effect of movements in exchange rates	(4,000)	22,000
La preciosa non-core concessions transfer		2,946,000
Option income		(63,000)
Ending balance	16,018,000	15,698,000
British Columbia & Yukon, Canada [Member]
Statement [Line Items]
Beginning balance	1,000	1,000
Drilling and exploration	0	0
Assessments and taxes	0	0
Effect of movements in exchange rates	0	0
Option income		0
Ending balance	1,000	1,000
La Preciosa, Mexico [Member]
Statement [Line Items]
Beginning balance	34,412,000	37,975,000
Drilling and exploration	1,265,000	435,000
Assessments and taxes	1,018,000	(930,000)
Effect of movements in exchange rates	0	(122,000)
La preciosa non-core concessions transfer		(2,946,000)
Option income		0
Ending balance	$ 36,695,000	$ 34,412,000

EXPLORATION AND EVALUATION ASSETS (Details Narrative) $ in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024 USD ($) ft² integer	Dec. 31, 2012 CAD ($) shares
Durango, Mexico [Member] | Unification La Platosa properties [Member]
Statement [Line Items]
Description For Exploration Period	the Company has obtained the exclusive right to explore and mine the property for an initial period of 15 years, with the option to extend the agreement for another 5 years
Exploration And Mining Rights Acquisition Consideration Transferred, Shares Issued | shares		135,189
Exploration And Mining Rights Acquisition Consideration Transferred Shares Issued, Value | $		$ 250
Durango, Mexico [Member] | Unification La Platosa properties [Member] | Minerales [Member]
Statement [Line Items]
Description Of Royalty Terms	The Company has agreed to pay to Minerales a royalty equal to 3.5% of net smelter returns (“NSR”). In addition, after the start of production, if the minimum monthly processing rate of the mine facilities is less than 15,000 tonnes, then the Company must pay to Minerales a minimum royalty equal to the applicable NSR royalty based on the processing at a monthly rate of 15,000 tonnes
Description For Exclusive Right Acquisition Under Agreement	Minerales has also granted to the Company the exclusive right to purchase a 100% interest in the property at any time during the term of the agreement (or any renewal thereof), upon payment of $8 million within 15 days of the Company’s notice of election to acquire the property
9 Concessions [Member] | Durango, Mexico [Member] | Gomez Palacio property [Member]
Statement [Line Items]
Area Of Exploitation Concessions	2,549
Avino Mine Area Property [Member] | 24 Concessions [Member] | Durango, Mexico [Member]
Statement [Line Items]
Area Of Exploitation Concessions	154.4
Number Of Exploitation Concessions | integer	24
Avino Mine Area Property [Member] | 1 Concessions [Member] | Durango, Mexico [Member]
Statement [Line Items]
Area Of Exploitation Concessions	98.83
La Preciosa, Mexico [Member]
Statement [Line Items]
Area Of Exploitation Concessions	1,284.7
Avino, Mexico [Member]
Statement [Line Items]
Number Of Mineral Claims Owned By Avino Mexico | integer	42
Eagle property option agreement [Member] | Mayo Mining Division [Member] | Yukon, Canada [Member]
Statement [Line Items]
Terms Of Agreement	The Company has a 100% interest in 14 quartz leases located in the Mayo Mining Division of Yukon, Canada, which collectively comprise the Eagle property
Cash Consideration | $	$ 250
Silver Wolf Exploration Ltd. [Member] | Option Agreement [Member]
Statement [Line Items]
Ownership Percentage	100.00%

NONCONTROLLING INTEREST (Details Narrative)	Sep. 30, 2024	Dec. 31, 2023
Ownership Interest, Percentage	99.67%	99.67%
Non-controlling Interest, Percentage	0.33%	0.33%

PLANT EQUIPMENT AND MINING PROPERTIES (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Statement [Line Items]
Beginning Balance	$ 80,323,000	$ 69,141,000
Additions/ Transfers	3,622,000	12,020,000
Writendowns	(2,123,000)	(798,000)
Effect Of Movements In Exchange Rates	(8,000)	(40,000)
Ending balance	81,814,000	80,323,000
Accumulated Depletion And Depreciation, Beginning Balance	27,254,000	25,085,000
Accumulated Depletion And Depreciation, Additions / Transfers	2,501,000	2,822,000
Accumulated Depletion And Depreciation, Writedowns	(1,557,000)	(653,000)
Accumulated Depletion And Depreciation, Ending Balance	28,198,000	27,254,000
Net book value	53,616,000	53,069,000
Office Equipment Furniture And Fixtures [Member]
Statement [Line Items]
Beginning Balance	844,000	763,000
Additions/ Transfers	410,000	78,000
Writendowns	(23,000)	(6,000)
Effect Of Movements In Exchange Rates	(3,000)	9,000
Ending balance	1,228,000	844,000
Accumulated Depletion And Depreciation, Beginning Balance	548,000	441,000
Accumulated Depletion And Depreciation, Additions / Transfers	99,000	111,000
Accumulated Depletion And Depreciation, Writedowns	(23,000)	(4,000)
Accumulated Depletion And Depreciation, Ending Balance	624,000	548,000
Net book value	604,000	296,000
Mine Machinery And Transportation Equipment [Member]
Statement [Line Items]
Beginning Balance	17,573,000	14,930,000
Additions/ Transfers	398,000	3,270,000
Writendowns	(1,339,000)	(629,000)
Effect Of Movements In Exchange Rates	(1,000)	2,000
Ending balance	16,631,000	17,573,000
Accumulated Depletion And Depreciation, Beginning Balance	5,235,000	5,178,000
Accumulated Depletion And Depreciation, Additions / Transfers	1,200,000	676,000
Accumulated Depletion And Depreciation, Writedowns	(1,164,000)	(619,000)
Accumulated Depletion And Depreciation, Ending Balance	5,271,000	5,235,000
Net book value	11,360,000	12,339,000
Mill Machinery And Processing Equipment [Member]
Statement [Line Items]
Beginning Balance	26,232,000	23,294,000
Additions/ Transfers	1,932,000	3,079,000
Writendowns	(221,000)	(141,000)
Effect Of Movements In Exchange Rates	0	0
Ending balance	27,943,000	26,232,000
Accumulated Depletion And Depreciation, Beginning Balance	7,894,000	6,733,000
Accumulated Depletion And Depreciation, Additions / Transfers	346,000	1,170,000
Accumulated Depletion And Depreciation, Writedowns	(151,000)	(9,000)
Accumulated Depletion And Depreciation, Ending Balance	8,089,000	7,894,000
Net book value	19,854,000	18,338,000
Mining Property [Member]
Statement [Line Items]
Beginning Balance	18,375,000	14,687,000
Additions/ Transfers	542,000	3,716,000
Writendowns	0	0
Effect Of Movements In Exchange Rates	4,000	(28,000)
Ending balance	18,921,000	18,375,000
Accumulated Depletion And Depreciation, Beginning Balance	9,473,000	9,106,000
Accumulated Depletion And Depreciation, Additions / Transfers	317,000	367,000
Accumulated Depletion And Depreciation, Writedowns	0	0
Accumulated Depletion And Depreciation, Ending Balance	9,790,000	9,473,000
Net book value	9,131,000	8,902,000
Computer equipment [member]
Statement [Line Items]
Beginning Balance	1,929,000	774,000
Additions/ Transfers	15,000	1,176,000
Writendowns	(23,000)	(22,000)
Effect Of Movements In Exchange Rates	0	1,000
Ending balance	1,921,000	1,929,000
Accumulated Depletion And Depreciation, Beginning Balance	781,000	598,000
Accumulated Depletion And Depreciation, Additions / Transfers	302,000	204,000
Accumulated Depletion And Depreciation, Writedowns	(23,000)	(21,000)
Accumulated Depletion And Depreciation, Ending Balance	1,060,000	781,000
Net book value	861,000	1,148,000
Buildings and construction in process [Member]
Statement [Line Items]
Beginning Balance	15,370,000	14,693,000
Additions/ Transfers	325,000	701,000
Writendowns	(517,000)	0
Effect Of Movements In Exchange Rates	(8,000)	(24,000)
Ending balance	15,170,000	15,370,000
Accumulated Depletion And Depreciation, Beginning Balance	3,323,000	3,029,000
Accumulated Depletion And Depreciation, Additions / Transfers	237,000	294,000
Accumulated Depletion And Depreciation, Writedowns	(196,000)	0
Accumulated Depletion And Depreciation, Ending Balance	3,364,000	3,323,000
Net book value	$ 11,806,000	$ 12,047,000

PLANT EQUIPMENT AND MINING PROPERTIES (Details Narrative) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
PLANT EQUIPMENT AND MINING PROPERTIES
Assets Under Construction	$ 2,610	$ 3,166
Property Plant Equipment, Write down	566	144
Property Plant Equipment, Net Carrying Amount	$ 5,325	$ 5,832

RELATED PARTY TRANSACTIONS AND BALANCES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Salaries, Benefits, And Consulting Fees	$ 273	$ 289	$ 886	$ 869
Share-based Payments	424	502	1,318	1,472
Total Key Management Personnel Compensation	$ 697	$ 791	$ 2,204	$ 2,341

RELATED PARTY TRANSACTIONS AND BALANCES (Details 1) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement [Line Items]
Total amounts due to related parties	$ 61	$ (167)
Oniva International Services Corp. [Member]
Statement [Line Items]
Due To Related Parties	100	102
Silver Wolf Exploration Ltd. [Member]
Statement [Line Items]
Due To Related Parties	$ (39)	$ (269)

RELATED PARTY TRANSACTIONS AND BALANCES (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement [Line Items]
Salaries And Benefits	$ 273	$ 289	$ 886	$ 869
Office And Miscellaneous	308	391	1,266	1,008
Oniva International Services Corp. [Member]
Statement [Line Items]
Salaries And Benefits	235	240	731	729
Office And Miscellaneous	95	107	342	364
Total Cost	$ 330	$ 347	$ 1,073	$ 1,093

RELATED PARTY TRANSACTIONS AND BALANCES (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement [Line Items]
Salaries, Benefits, And Consulting Fees	$ 273	$ 289	$ 886	$ 869
ICC [Member]
Statement [Line Items]
Salaries, Benefits, And Consulting Fees			$ 212	$ 215

RECLAMATION PROVISION (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
RECLAMATION PROVISION
Balance At Beginning Of The Year	$ 2,195	$ 445
Changes In Estimates	0	1,615
Unwinding Of Discount Related To Continuing Operations	151	49
Effect Of Movements In Exchange Rates	(334)	86
Balance At End Of The Year	$ 2,012	$ 2,195

RECLAMATION PROVISION (Details Narrative) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Management's estimate one [Member]
Statement [Line Items]
Risk Free Interest Rate	9.72%	9.82%
Inflation Rate	3.76%	3.76%
Management's Estimate [Member]
Statement [Line Items]
Reclamation Provision	$ 2,012	$ 2,195
Reclamation Provision Undiscounted Value	$ 4,887	$ 5,491

SHARE CAPITAL AND SHAREBASED PAYMENTS (Details) - Stock options [Member] - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Statement [Line Items]
Stock Options Outstanding, Beginning	6,666,000	4,256,000
Granted	2,500,000	2,545,000
Expired		(105,000)
Exercised	(561,000)
Cancelled / Forfeited	(190,000)	(30,000)
Stock Options Outstanding, Ending	8,415,000	6,666,000
Stock Options Exercisable	7,165,000
Outstanding And Exercisable Weighted Average Exercise Price, Beginning	$ 1.27	$ 1.36
Weighted Average Exercise Price, Granted	0.78	1.12
Weighted Average Exercise Price, Expired		1.30
Weighted Average Exercise Price, Exercised	0.90
Weighted Average Exercise Price, Cancelled / Forfeited	1.26	1.40
Outstanding And Exercisable Weighted Average Exercise Price, Ending	1.15	$ 1.27
Weighted Average Exercise Price, Stock Options Exercisable	$ 1.21

SHARE CAPITAL AND SHAREBASED PAYMENTS (Details 1)	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Stock options [Member]
Statement [Line Items]
Stock Options Exercisable	7,165,000
Stock Options Outstanding	8,415,000
Weighted Average Remaining Contractual Life (years), Stock Options Exercisable	2 years 1 month 6 days
Weighted Average Remaining Contractual Life (years), Stock Options Outstanding	2 years 11 months 26 days
Stock options [Member] | July 10, 2028 [Member]
Statement [Line Items]
Expiry Date	Jul. 10, 2028
Stock Options Exercisable	150,000
Exercise Price | $ / shares	$ 1.12
Stock Options Outstanding	150,000
Weighted Average Remaining Contractual Life (years), Stock Options Exercisable	3 years 9 months 10 days
Weighted Average Remaining Contractual Life (years), Stock Options Outstanding	3 years 9 months 10 days
Stock options [Member] | August 4, 2025 [Member]
Statement [Line Items]
Expiry Date	Aug. 04, 2025
Stock Options Exercisable	1,620,000
Exercise Price | $ / shares	$ 1.64
Stock Options Outstanding	1,620,000
Weighted Average Remaining Contractual Life (years), Stock Options Exercisable	10 months 2 days
Weighted Average Remaining Contractual Life (years), Stock Options Outstanding	10 months 2 days
Stock options [Member] | March 25, 2027 [Member]
Statement [Line Items]
Expiry Date	Mar. 25, 2027
Stock Options Exercisable	2,195,000
Exercise Price | $ / shares	$ 1.20
Stock Options Outstanding	2,195,000
Weighted Average Remaining Contractual Life (years), Stock Options Exercisable	2 years 5 months 23 days
Weighted Average Remaining Contractual Life (years), Stock Options Outstanding	2 years 5 months 23 days
Stock options [Member] | March 29, 2028 [Member]
Statement [Line Items]
Expiry Date	Mar. 29, 2028
Stock Options Exercisable	2,180,000
Exercise Price | $ / shares	$ 1.12
Stock Options Outstanding	2,180,000
Weighted Average Remaining Contractual Life (years), Stock Options Exercisable	3 years 6 months
Weighted Average Remaining Contractual Life (years), Stock Options Outstanding	3 years 6 months
Stock options [Member] | March 25, 2029 [Member]
Statement [Line Items]
Expiry Date	Mar. 25, 2029
Stock Options Exercisable	995,000
Exercise Price | $ / shares	$ 0.78
Stock Options Outstanding	2,245,000
Weighted Average Remaining Contractual Life (years), Stock Options Exercisable	4 years 5 months 23 days
Weighted Average Remaining Contractual Life (years), Stock Options Outstanding	4 years 5 months 23 days
Stock Option [Member] | May 4, 2027 [Member]
Statement [Line Items]
Expiry Date	May 04, 2027
Stock Options Exercisable	25,000
Stock Options Outstanding	25,000
Weighted Average Remaining Contractual Life (years), Stock Options Exercisable	2 years 7 months 2 days
Weighted Average Remaining Contractual Life (years), Stock Options Outstanding	2 years 7 months 2 days
Exercise price | $ / shares	$ 0.92

SHARE CAPITAL AND SHAREBASED PAYMENTS (Details 2) - Stock options [Member] - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Statement [Line Items]
Risk-free Interest Rate	3.51%	3.10%
Expected Dividend Yield	0.00%	0.00%
Expected warrant life (years)	5 years	5 years
Expected Stock Price Volatility	60.73%	61.10%
Expected Forfeiture Rate	15.00%	17.00%
Weighted Average Fair Value	$ 0.43	$ 0.60

SHARE CAPITAL AND SHAREBASED PAYMENTS (Details 3) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
SHARE CAPITAL AND SHAREBASED PAYMENTS
RSUs outstanding beg	2,994,709	2,190,666
Granted	1,881,000	1,878,320
Exercised	(1,197,709)	(1,005,334)
Cancelled and Forfeited	(137,132)	(68,943)
RSUs outstanding end	3,540,868	2,994,709
RSUs outstanding weighted average price beg	$ 1.03	$ 1.27
RSUs outstanding weighted average price granted	1.02	1.11
RSUs outstanding weighted average price exercised	1.15	1.37
RSUs outstanding weighted average price cancelled forfeited	1.08	1.14
RSUs outstanding weighted average price end	$ 1.08	$ 1.03

SHARE CAPITAL AND SHAREBASED PAYMENTS (Details 4) - Restricted Shares Units [Member]	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Statement [Line Items]
Stock Options Outstanding	3,540,868
March 25, 2022 [Member]
Statement [Line Items]
Exercise Price | $ / shares	$ 1.19
Stock Options Outstanding	556,539
March 29, 2023 [Member]
Statement [Line Items]
Exercise Price | $ / shares	$ 1.12
Stock Options Outstanding	1,124,288
July 10, 2023 [Member]
Statement [Line Items]
Exercise Price | $ / shares	$ 0.94
Stock Options Outstanding	50,000
April 1, 2024 [Member]
Statement [Line Items]
Exercise Price | $ / shares	$ 1.02
Stock Options Outstanding	1,810,041

SHARE CAPITAL AND SHAREBASED PAYMENTS (Details 5) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
SHARE CAPITAL AND SHAREBASED PAYMENTS
Net income for the period	$ 1,169	$ (803)	$ 3,008	$ (21)
Basic weighted average number of shares outstanding	135,070,079	122,433,272	132,925,193	120,093,760
Effect of dilutive share options, warrants, and RSUs ('000)	5,359,782	0	5,798,710	0
Diluted weighted average number of shares outstanding	140,429,861	122,433,272	138,723,903	120,093,760
Basic income per share	$ 0.01	$ (0.01)	$ 0.02	$ (0.00)
Diluted income per share	$ 0.01	$ (0.01)	$ 0.02	$ (0.00)

SHARE CAPITAL AND SHAREBASED PAYMENTS (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Statement [Line Items]
Issued common shares	5,050,585		9,373,825
Gross Proceeds On Cash Commission	$ 107		$ 155
Cash commission	2.75%		2.75%
Issuance shares costs	$ 169		$ 339
Net proceeds from cash commission	3,799		5,493
Proceeds from gross prospectus supplement	3,906		$ 5,648
Fair Value Of Stock Options Granted, Share-based Payments	$ 610	$ 783
Restricted Share Units, granted	1,881,000		1,878,320
Weighted Average Fair Value Per Share	$ 1.02
Share-based Payments for fair value	$ 991	$ 1,026
Share Capital Two [Member]
Statement [Line Items]
Issued common shares upon exercise of RSUs	1,197,709		1,005,333
Common shares issued carrying value of RSUs exercised	$ 1,018		$ 1,019
Share Capital[Member]
Statement [Line Items]
Stock option exercise		561,000
Issuance of common shares for service		561,000
Gross Proceeds On Cash Commission		$ 372
Share capital acquisition costs		572
Issuance of fair value		$ 200

REVENUE AND COST OF SALES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
REVENUE AND COST OF SALES
Concentrate Sales	$ 13,974	$ 11,599	$ 40,994	$ 31,429
Provisional Pricing Adjustments	642	717	802	(70)
Total Revenue	$ 14,616	$ 12,316	$ 41,796	$ 31,359

REVENUE AND COST OF SALES (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
REVENUE AND COST OF SALES
Production costs	$ 7,952	$ 9,228	$ 26,095	$ 23,939
Write down of equipment and materials and supplies inventory	182	4	566	95
Depreciation and depletion	773	720	2,390	2,067
Total cost	$ 8,907	$ 9,952	$ 29,051	$ 26,101

GENERAL AND ADMINISTRATIVE EXPENSES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Salaries and benefits	$ 585	$ 383	$ 1,440	$ 1,069
Office and miscellaneous	308	391	1,266	1,008
Management and consulting fees	126	109	391	312
Professional fees	240	195	709	898
Investor relations	44	49	225	216
Regulatory and compliance fees	52	35	145	126
Directors fees	38	43	128	132
Depreciation	39	38	114	108
Travel and promotion	23	37	100	130
General and administrative expenses	$ 1,455	$ 1,280	$ 4,518	$ 3,999

COMMITMENTS CONTINGENCIES (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement [Line Items]
Minimum Rental And Lease Payments	$ 5,072	$ 5,920
Later than five years [member]
Statement [Line Items]
Minimum Rental And Lease Payments	3,710	3,965
Not later than one year [member]
Statement [Line Items]
Minimum Rental And Lease Payments	189	714
1-5 years [member]
Statement [Line Items]
Minimum Rental And Lease Payments	$ 1,173	$ 1,241

COMMITMENTS CONTINGENCIES (Details Narrative) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Office lease payments recognized as expense	$ 30	$ 27

SUPPLEMENTARY CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Net change in non-cash working capital items:
Inventory	$ (2,050)	$ (2,720)
Prepaid expenses and other assets	(432)	(329)
Taxes recoverable	3,088	(2,075)
Taxes payable	529	(809)
Accounts payable and accrued liabilities	(2,622)	2,592
Amounts receivable	273	199
Amounts due to related parties	(355)	(59)
Net change in non-cash working capital	$ (1,569)	$ (3,201)

SUPPLEMENTARY CASH FLOW INFORMATION (Details 1) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Interest paid	$ 187	$ 180
Taxes paid	13	29
Equipment acquired under finance leases and equipment loans	$ 200	$ 209

SUPPLEMENTARY CASH FLOW INFORMATION (Details 2) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Shares acquired under terms of option agreements	$ 0	$ 41
Transfer of share-based payments reserve upon exercise of RSUs	1,018	1,019
Transfer of share-based payments reserve upon exercise of Options	572	0
Equipment acquired under finance leases and equipment loans	887	2,888
Non-cash investing and financing activities	$ 2,477	$ 3,948

FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement [Line Items]
Accounts Payable And Accrued Liabilities	$ 9,243	$ 11,867
Equipment Loans	69	$ 195
1-5 years [member]
Statement [Line Items]
Accounts Payable And Accrued Liabilities	0
Minimum rental and lease payments	1,173
Equipment Loans	70
Finance Lease Obligations	1,405
Total	2,648
More Than 5 Years [Member]
Statement [Line Items]
Accounts Payable And Accrued Liabilities	0
Minimum rental and lease payments	3,710
Equipment Loans	0
Finance Lease Obligations	0
Total	3,710
Less Than One Year [Member]
Statement [Line Items]
Accounts Payable And Accrued Liabilities	9,243
Due to related parties	61
Minimum rental and lease payments	189
Equipment Loans	178
Finance Lease Obligations	1,743
Total	11,414
Financial Instruments [Member]
Statement [Line Items]
Accounts Payable And Accrued Liabilities	9,243
Due to related parties	61
Minimum rental and lease payments	5,072
Equipment Loans	248
Finance Lease Obligations	3,148
Total	$ 17,772

FINANCIAL INSTRUMENTS (Details 1) $ in Thousands, $ in Thousands, $ in Thousands	Sep. 30, 2024 USD ($)	Sep. 30, 2024 MXN ($)	Sep. 30, 2024 CAD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 MXN ($)	Dec. 31, 2023 CAD ($)
Statement [Line Items]
Long-term Investments	$ 1,466			$ 934
Amounts Receivable	3,030			3,303
Accounts Payable And Accrued Liabilities	$ 9,243			$ 11,867
MXN [Member]
Statement [Line Items]
Cash		$ 5,060			$ 13,338
Due from related parties		764			4,558
Long-term Investments		0			0
Reclamation Bonds		0			0
Amounts Receivable		463			18,644
Accounts Payable And Accrued Liabilities		(64,581)			(95,662)
Due To Related Parties		0			0
Finance Lease Obligations		(2,413)			(1,129)
Net Exposure		(60,707)			(60,251)
Us Dollar Equivalent		$ (3,084)			$ (3,567)
CDN [Member]
Statement [Line Items]
Cash			$ 518			$ 70
Due from related parties			0			0
Long-term Investments			1,979			1,236
Reclamation Bonds			6			6
Amounts Receivable			29			26
Accounts Payable And Accrued Liabilities			(44)			(150)
Due To Related Parties			(136)			(135)
Finance Lease Obligations			(584)			(217)
Net Exposure			1,768			836
Us Dollar Equivalent			$ 1,310			$ 577

FINANCIAL INSTRUMENTS (Details 2) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement [Line Items]
Amounts Receivable	$ 3,030	$ 3,303
Long-term Investments	1,466	$ 934
Level 1 of fair value hierarchy [member]
Statement [Line Items]
Cash	7,767
Amounts Receivable	0
Long-term Investments	1,439
Total Financial Assets	9,206
Level 2 of fair value hierarchy [member]
Statement [Line Items]
Cash	0
Amounts Receivable	3,030
Long-term Investments	0
Total Financial Assets	3,030
Level 3 of fair value hierarchy [member]
Statement [Line Items]
Cash	0
Amounts Receivable	0
Long-term Investments	27
Total Financial Assets	$ 27

FINANCIAL INSTRUMENTS (Details Narrative) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Statement [Line Items]
Cash	$ 7,767	$ 2,688
Interest Rate Risk [Member]
Statement [Line Items]
Asset And Liability Exposure, Description	A 10% change in the interest rate would not result in a material impact on the Company’s operations
Liquidity Risk [Member]
Statement [Line Items]
Cash	$ 7,767
Current assets exceeded amount	15,878
Foreign Currency Risk [Member]
Statement [Line Items]
Impact On Net Earning (loss)	189
Price Risk [Member]
Statement [Line Items]
Impact On Net Earning (loss)	212
Price Risk [Member] | Long-term investments [Member]
Statement [Line Items]
Impact On Net Earning (loss)	$ 147

SEGMENTED INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Silver	$ 6,462	$ 4,280	$ 18,246	$ 11,610
Copper	6,497	5,907	18,329	14,658
Gold	3,359	3,669	9,894	9,516
Penalties, Treatment Costs And Refining Charges	(1,702)	(1,540)	(4,673)	(4,425)
Total Revenue From Mining Operations	$ 14,616	$ 12,316	$ 41,796	$ 31,359

SEGMENTED INFORMATION (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Customer 1	$ 14,117	$ 9,101	$ 35,404	$ 26,209
Customer 2	487	3,220	5,930	5,246
Other Customer	12	(5)	462	(96)
Total Revenue From Mining Operations	$ 14,616	$ 12,316	$ 41,796	$ 31,359

SEGMENTED INFORMATION (Details 2) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Exploration And Evaluation Assets - Mexico	$ 52,713	$ 50,110
Exploration And Evaluation Assets - Canada	1	1
Total Exploration And Evaluation Assets	$ 52,714	$ 50,111

SEGMENTED INFORMATION (Details 3) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Plant, Equipment And Mining Properties - Mexico	$ 53,162	$ 52,891
Plant, Equipment And Mining Properties - Canada	454	178
Total Plant, Equipment And Mining Properties	$ 53,616	$ 53,069

SEGMENTED INFORMATION (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Total Revenue From Mining Operations	$ 14,616	$ 12,316	$ 41,796	$ 31,359

SUBSEQUENT EVENTS (Details Narrative) $ in Thousands	9 Months Ended
	Sep. 30, 2024 $ / shares shares	Sep. 30, 2024 USD ($) shares
Statement [Line Items]
Excercise of Stock option share		702,500
Issue of common share	702,500	702,500
Average exercise price | $ / shares	$ 1.15
Gross proceeds from issue of share | $		$ 806
Market Offerings [Member]
Statement [Line Items]
Issue of common share	4,288,100	4,288,100
Gross proceeds from issue of share | $		$ 5,827

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