CASH AND CASH EQUIVALENTS

6 Months Ended

Jun. 30, 2023

CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS

NOTE 4 CASH AND CASH EQUIVALENTS

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

	June 30, 2023		December 31, 2022
Cash and cash equivalents held in USD	$	14,568	$	36,305
Cash and cash equivalents held in ARS¹		68,959		2,144
Cash and cash equivalents held in other currencies		1,296		1,333
Total cash and cash equivalents	$	84,823	$	39,782

(1) Argentine Peso (“ARS”)

As of June 30, 2023, the cash balance of ARS $17.7 billion was converted to the USD using the official exchange rate of 256.7:1. 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 June 30, 2023, of $84.8 million of cash and cash equivalents, $77.3 million in cash and $4.8 million in bankers’ acceptance notes with maturity dates between 34 to 81 days were held by McEwen Copper. As of December 31, 2022, of $39.8 million of cash and cash equivalents, $2.5 million in cash and $35.6 million in bankers’ acceptance notes were held by McEwen Copper.