INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE (Tables)

3 Months Ended

Mar. 31, 2019

INVESTMENT IN MINERA SANTA CRUZ S.A. (“MSC”) - SAN JOSE MINE

Schedule of change in the entity's investment in MSC

Changes in the Company’s investment in MSC for the three months ended March 31, 2019 and year ended December 31, 2018 are as follows:
	March 31, 2019		December 31, 2018
Investment in MSC, beginning of the period	$	127,814	$	150,064
Attributable net loss from MSC		(1,358)		(10,065)
Amortization of fair value increments		(1,913)		(9,730)
Income tax recovery		961		7,930
Dividend distribution received		(2,020)		(10,385)
Investment in MSC, end of the period	$	123,484	$	127,814

Summary of MSC's financial information from operations

	Three months ended  March 31,
	2019		2018
Minera Santa Cruz S.A. (100%)
Net sales	$	46,203	$	50,662
Production costs applicable to sales		(36,340)		(43,468)
Other operating expenses		(9,403)		(4,059)
Other expenses		(2,443)		(2,118)
Net (loss) income before tax	$	(1,983)	$	1,017
Current and deferred tax expense		(789)		(139)
Net (loss) income	$	(2,772)	$	878
Portion attributable to McEwen Mining Inc. (49%)
Net (loss) income	$	(1,358)	$	430
Amortization of fair value increments		(1,913)		(2,115)
Income tax recovery		961		1,473
Loss from investment in MSC, net of amortization	$	(2,310)	$	(212)