RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2016

NOTE 15 RELATED PARTY TRANSACTIONS

The Company incurred the following expense (income) in respect to the related parties outlined below:


	Year ended December 31,
	2016		2015		2014
Lexam L.P.	$	187	$	104	$	93
Lexam VG Gold		85		(1)		(72)
REVlaw		124		59		—

The Company has the following outstanding accounts payable balance in respect to the related parties outlined below:

An aircraft owned by Lexam L.P. (which is controlled by Robert R. McEwen, limited partner and beneficiary of Lexam L.P. and the Company’s Chairman and Chief Executive Officer) has been made available to the Company in order to expedite business travel. In his role as Chairman and Chief Executive Officer of the Company, Mr. McEwen must travel extensively and frequently on short notice. Mr. McEwen is able to charter the aircraft from Lexam L.P. at a preferential rate approved by the Company’s independent board members under a policy whereby only the variable expenses of operating this aircraft for business related travel are eligible for reimbursement by the Company.

Robert R. McEwen is the Non-Executive Chairman of Lexam VG Gold (“Lexam”) and holds 27% ownership in Lexam. The Company has agreed to share services with Lexam VG Gold Inc. including rent, personnel, office expenses and other administrative services. These transactions are in the normal course of business. Subsequent to the period-end, on February 13, 2017, the Company entered into an agreement pursuant to which the Company would acquire all of the issued and outstanding securities of Lexam. Refer to Note 18 Subsequent Events for further details.

REVlaw is a company owned by Ms. Carmen Diges, General Counsel of the Company. The legal services of Ms. Diges as General Counsel are provided by REVlaw in the normal course of business. These legal fees have been recorded at their exchange amount and these transactions are in the normal course of business.

Year ended December 31,

Lexam L.P.

Lexam VG Gold