RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2020

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

NOTE 14 RELATED PARTY TRANSACTIONS

The Company recorded the following expense in respect to the related parties outlined below during the periods presented:

	Three months ended March 31,
	2020		2019
Lexam L.P.	$	76	$	61
REVlaw		38		41

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

	March 31, 2020		December 31, 2019
Lexam L.P.	$	76	$	65
REVlaw	$	20	$	12

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.

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

An affiliate of Mr. McEwen participated as a lender in the $50.0 million term loan by providing $25.0 million of the total $50.0 million funding. During the three months ended March 31, 2020, the Company paid $0.6 million (three months

ended March 31, 2019 – $0.6 million) in interest to this affiliate. The payments to Mr. McEwen are on the same terms as the non-affiliated lender (Note 10).