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

6 Months Ended

Jun. 30, 2019

Summary of MSC's financial information from operations

	Three months ended June 30,				Six months ended June 30,
	2019		2018		2019		2018
Minera Santa Cruz S.A. (100%)
Revenue from gold and silver sales	$	62,597	$	52,272	$	108,800	$	102,934
Production costs applicable to sales		(52,896)		(43,346)		(89,236)		(86,814)
Other operating expenses		(9,440)		(3,553)		(18,843)		(7,612)
Other expenses		(855)		(6,136)		(3,298)		(8,254)
Net (loss) income before tax	$	(594)	$	(763)	$	(2,577)	$	254
Current and deferred tax expense		(3,049)		(6,937)		(3,838)		(7,076)
Net loss	$	(3,643)	$	(7,700)	$	(6,415)	$	(6,822)
Portion attributable to McEwen Mining Inc. (49%)
Net loss	$	(1,784)	$	(3,773)	$	(3,142)	$	(3,343)
Amortization of fair value increments		(2,459)		(2,482)		(4,372)		(4,597)
Income tax recovery		106		3,990		1,067		5,463
Loss from investment in MSC, net of amortization	$	(4,137)	$	(2,265)	$	(6,447)	$	(2,477)

Schedule of change in the entity's investment in MSC

	June 30, 2019		December 31, 2018
Investment in MSC, beginning of period	$	127,814	$	150,064
Attributable net loss from MSC		(3,142)		(10,065)
Amortization of fair value increments		(4,372)		(9,730)
Income tax recovery		1,067		7,930
Dividend distribution received		(2,020)		(10,385)
Investment in MSC, end of period	$	119,347	$	127,814

Summary of key assets and liabilities, before and after adjustments to fair value

As at June 30, 2019	Balance excluding FV increments		Adjustments		Balance including FV increments
Current assets	$	71,226	$	341	$	71,567
Total assets		190,935		129,493		320,428
Current liabilities	$	(38,675)	$	—	$	(38,675)
Total liabilities		(67,110)		(9,754)		(76,864)