v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income (loss) $ 33,379 $ (6,270)
Adjustments to reconcile net income (loss) from operating activities:    
(Income) loss from equity method investments (Note 9) (30,338) 8,068
Dividends received from Minera Santa Cruz S.A. (Note 9) 8,835  
Depreciation, amortization and depletion 7,077 6,171
Loss (gain) on marketable securities (Note 5) 5,189 (1,755)
Reclamation accretion and adjustments to estimate 364 794
Deferred income and mining tax (recovery) expense (Note 17) 140 (1,489)
Flow-through premium amortization (Note 12) (812) (1,428)
Other 2,509 332
Changes in non-cash working capital items:    
Change in inventories (7,095) (5,170)
Change in other assets related to operations (1,036) 1,364
Change in accounts payable and accrued liabilities 171 (1,444)
Change in contract liability (5,712) (2,015)
Change in other liabilities related to operations (568) 910
Cash provided by (used in) operating activities 12,103 (1,932)
Cash flows from investing activities:    
Additions to mineral property interests and plant and equipment (14,551) (14,534)
Loan receivable from McEwen Copper Inc. (Note 14) (7,500)  
Dividends received from Minera Santa Cruz S.A. (Note 9)   2,246
Investment in marketable securities (Note 5)   (1,399)
Other 1,013 94
Cash used in investing activities (21,038) (13,593)
Cash flows from financing activities:    
Issuance of flow-through common shares, net of issuance costs (Note 12) 14,831  
Proceeds from senior convertible notes (Note 10)   110,000
Purchase of capped call options (Note 10)   (15,114)
Convertible notes financing costs (Note 10)   (4,176)
Principal repayment on long-term debt (Note 10)   (20,000)
Payment of finance lease obligations (296) (197)
Cash provided by financing activities 14,535 70,513
Effect of exchange rate change on cash and cash equivalents 52 4
Increase in cash, cash equivalents and restricted cash 5,652 54,992
Cash, cash equivalents and restricted cash, beginning of period 55,261 17,464
Cash, cash equivalents and restricted cash, end of period 60,913 72,456
Supplemental disclosure of cash flow information:    
Interest paid (3,368) (759)
Interest received 385 361
Taxes paid   $ (211)
Non-cash investing activities:    
Mineral property additions in accounts payable and accrued liabilities 5,782  
Receipt of warrants in connection with loan to McEwen Copper Inc. (Note 14) $ 3,380