INVESTMENTS

12 Months Ended

Dec. 31, 2023

INVESTMENTS

INVESTMENTS

NOTE 5 INVESTMENTS

The Company’s investment portfolio consists of marketable equity securities and warrants of certain publicly traded companies. The following is a summary of the activity in investments for the years ended December 31, 2023, 2022 and 2021:

	As at		Additions/		Disposals/			Unrealized	Foreign		McEwen		As at
	December 31,		transfers during		transfers during			gain on	exchange loss		Copper		December 31,
	2022		year		year			securities held	on securities held		deconsolidation		2023
Marketable equity securities	$	1,133	$	34,157	$	—	$	20,542	$	(9,858)	$	(44,231)	$	1,743
Warrants		162		—		(162)		—		—		—		—
Total investments	$	1,295	$	34,157	$	(162)	$	20,542	$	(9,858)	$	(44,231)	$	1,743

	As at		Additions/		Disposals/		Unrealized		Foreign		As at
	December 31,		transfers during		transfers during		loss on		exchange loss		December 31,
	2021		year		year		securities held		on securities held		2022
Marketable equity securities	$	1,644	$	—	$	—	$	(511)	$	—	$	1,133
Warrants		162		—		—		—		—		162
Total investments	$	1,806	$	—	$	—	$	(511)	$	—	$	1,295

	As at		Additions/		Disposals/		Unrealized		Foreign		As at
	December 31,		transfers during		transfers during		gain on		exchange loss		December 31,
	2020		year		year		securities held		on securities held		2021
Marketable equity securities	$	—	$	1,616	$	—	$	28	$	—	$	1,644
Warrants		—		162		—		—		—		162
Total investments	$	—	$	1,778	$	—	$	28	$	—	$	1,806

For the year ended December 31, 2023, Andes Corporation Minera S.A., an Argentinian subsidiary of McEwen Copper, invested $33.9 million in equity securities trading on the Bolsa de Comercio de Buenos Aires exchange as Argentinian depositary receipts (“CEDEARs”) and denominated in ARS. For the year ended December 31, 2023, the Company recognized an unrealized gain on CEDEARs of $20.2 million and a foreign exchange loss of $9.9 million.