CASH AND CASH EQUIVALENTS

9 Months Ended

Sep. 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:

	September 30, 2023		December 31, 2022
Cash and cash equivalents held in USD	$	7,137	$	36,305
Cash and cash equivalents held in ARS¹		41,306		2,144
Cash and cash equivalents held in other currencies		672		1,333
Total cash and cash equivalents	$	49,115	$	39,782

(1) Argentine Peso (“ARS”)

As of September 30, 2023, the cash balance of ARS 14.6 billion was converted to the USD using the official exchange rate of 349.9:1. 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 September 30, 2023, of $49.1 million of cash and cash equivalents, $45.2 million in cash and $2.3 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.