CASH AND CASH EQUIVALENTS

3 Months Ended

Mar. 31, 2023

NOTE 4 CASH AND CASH EQUIVALENTS

The following table provides a reconciliation of cash and cash equivalents reported in the Consolidated Balance Sheets:


	March 31, 2023		December 31, 2022
Cash and cash equivalents held in USD	$	45,697	$	36,305
Cash and cash equivalents held in ARS¹		143,796		2,144
Cash and cash equivalents held in other currencies		1,283		1,333
Total cash and cash equivalents	$	190,776	$	39,782

(1)

Argentine Peso (“ARS”)

As of March 31, 2023, the cash balance of ARS $29.5 billion was converted to the USD using the official exchange rate of 209.0:1. As of December 31, 2022, the cash balance of ARS $0.4 billion was converted to the USD using the official exchange rate of 177.2:1.

As of March 31, 2023, of $190.8 million of cash and cash equivalents, $149.1 million in cash and $9.7 million in bankers’ acceptance notes with maturity dates between 34 to 81 days were held by McEwen Copper.