EQUITY METHOD INVESTMENTS (Tables)
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3 Months Ended |
Mar. 31, 2025 |
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| McEwen Copper |
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| EQUITY METHOD INVESTMENTS |
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| Summary of financial information from operations |
| | | | | | | | | Three months ended March 31, | | | 2025 | | 2024 | McEwen Copper (100%) | | | | | | | Advanced projects | | $ | (21,271) | | $ | (48,183) | Other expenses | | | (1,097) | | | (2,016) | Foreign exchange loss | | | (9) | | | (3,992) | Interest and other income(1) | | | 3,906 | | | 16,454 | Loss before tax | | $ | (18,471) | | $ | (37,737) | Current and deferred taxes | | | — | | | — | Net loss | | $ | (18,471) | | $ | (37,737) | | | | | | | | Portion attributable to McEwen Mining Inc. | | | | | | | Loss from investment in McEwen Copper | | $ | (8,578) | | $ | (18,012) |
(1) Interest and other income include gains on marketable securities and other finance-related income.
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| Schedule of change in the company's investment |
| | | | | | | | | Three months ended | | Year ended | | | March 31, 2025 | | December 31, 2024 | Investment, beginning of period | | $ | 298,947 | | $ | 326,147 | Additional investment in McEwen Copper | | | — | | | 14,000 | Dilution gain | | | — | | | 5,777 | Attributable net loss from McEwen Copper | | | (8,578) | | | (46,977) | Investment, end of period | | $ | 290,369 | | $ | 298,947 |
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| Summary of key assets and liabilities, before and after adjustments to fair value |
| | | | | | | As at | | March 31, 2025 | | December 31, 2024 | Current assets | | $ | 9,241 | | $ | 34,067 | Total assets | | $ | 204,261 | | $ | 226,329 | | | | | | | | Current liabilities | | $ | (11,085) | | $ | (14,656) | Total liabilities | | $ | (11,260) | | $ | (14,856) |
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| Minera Santa Cruz S.A. |
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| EQUITY METHOD INVESTMENTS |
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| Summary of financial information from operations |
| | | | | | | | | Three months ended March 31, | | | 2025 | | 2024 | Minera Santa Cruz S.A. (100%) | | | | | | | Revenue from gold and silver sales | | $ | 71,903 | | $ | 65,927 | Production costs applicable to sales | | | (56,588) | | | (47,884) | Depreciation and depletion | | | (10,610) | | | (8,926) | Gross profit | | | 4,705 | | | 9,117 | Exploration | | | (2,300) | | | (2,104) | Other income (1) | | | 826 | | | 1,501 | Income before tax | | $ | 3,231 | | $ | 8,514 | Current and deferred tax expense | | | (1,039) | | | (4,847) | Net income | | $ | 2,192 | | $ | 3,667 | | | | | | | | Portion attributable to McEwen Mining Inc. | | | | | | | Net income | | $ | 1,073 | | $ | 1,796 | Amortization of fair value increments | | | (568) | | | (709) | Income tax recovery | | | 5 | | | 191 | Income from investment in MSC, net of amortization | | $ | 510 | | $ | 1,278 |
(1) Other income includes foreign exchange gains and losses, accretion of asset retirement obligations and other finance-related income.
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| Schedule of change in the company's investment |
| | | | | | | | | Three months ended | | Year ended | | | March 31, 2025 | | December 31, 2024 | Investment, beginning of period | | $ | 101,854 | | $ | 93,218 | Attributable net income from MSC | | | 1,073 | | | 12,072 | Amortization of fair value increments | | | (568) | | | (3,088) | Income tax recovery | | | 5 | | | 37 | Dividend distribution received | | | (2,246) | | | (385) | Investment, end of period | | $ | 100,118 | | $ | 101,854 |
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| Summary of key assets and liabilities, before and after adjustments to fair value |
| | | | | | | As at | | March 31, 2025 | | December 31, 2024 | Current assets | | $ | 132,312 | | $ | 144,327 | Total assets | | $ | 285,316 | | $ | 233,003 | | | | | | | | Current liabilities | | $ | (48,076) | | $ | (57,373) | Total liabilities | | $ | (81,060) | | $ | (89,594) |
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