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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUE:        
Revenue from gold and silver sales $ 47,476 $ 34,395 $ 88,704 $ 69,147
OPERATING EXPENSES:        
Production costs applicable to sales (32,066) (29,570) (57,176) (52,983)
Depreciation and depletion (4,652) (8,293) (14,759) (15,189)
Gross profit (loss) 10,758 (3,468) 16,769 975
OTHER OPERATING EXPENSES:        
Advanced projects - Los Azules   (28,524)   (60,405)
Advanced projects - Other (2,990) (1,275) (5,444) (2,954)
Exploration (4,984) (5,852) (8,855) (11,752)
General and administrative (4,461) (2,050) (8,534) (5,491)
Income (loss) from investment (Note 9) (12,115) (914) (28,849) (4,375)
Depreciation (158) (309) (329) (591)
Reclamation and remediation (Note 11) 3 (620) (687) (1,250)
Total other operating expenses (24,705) (39,544) (52,698) (86,818)
Operating loss (13,947) (43,012) (35,929) (85,843)
OTHER INCOME (EXPENSE):        
Interest and other finance income (expense), net (1,734) 19,577 (2,604) 28,041
Other income (expense) (Note 3) 310 (21,875) 222 (24,454)
Total other income (expense) (1,424) (2,298) (2,382) 3,587
Loss before income and mining taxes (15,371) (45,310) (38,311) (82,256)
Income and mining tax recovery 2,376 2,049 4,933 2,585
Net loss after income and mining taxes (12,995) (43,261) (33,378) (79,671)
Net loss attributable to non-controlling interests   21,634   14,968
Net loss and comprehensive loss attributable to McEwen shareholders $ (12,995) $ (21,627) $ (33,378) $ (64,703)
Net loss per share (Note 13):        
Basic (in dollars per share) $ (0.26) $ (0.46) $ (0.67) $ (1.36)
Diluted (in dollars per share) $ (0.26) $ (0.46) $ (0.67) $ (1.36)
Weighted average common shares outstanding (thousands) (Note 13):        
Basic (in shares) 49,718 47,428 49,580 47,428
Diluted (in shares) 49,718 47,428 49,580 47,428
McEwen Copper Inc.        
OTHER OPERATING EXPENSES:        
Advanced projects - Other $ (37,547)   $ (85,730)  
Income (loss) from investment (Note 9) (16,816)   (34,828)  
OTHER INCOME (EXPENSE):        
Interest and other finance income (expense), net 3,841   20,295  
Loss before income and mining taxes 35,231   72,968  
Net loss and comprehensive loss attributable to McEwen shareholders 35,231   72,968  
Minera Santa Cruz S.A.        
REVENUE:        
Revenue from gold and silver sales 74,348 $ 67,712 140,274 $ 113,452
OPERATING EXPENSES:        
Depreciation and depletion (14,723) (14,363) (23,649) (22,593)
OTHER OPERATING EXPENSES:        
Income (loss) from investment (Note 9) 4,701 (914) 5,979 (4,375)
OTHER INCOME (EXPENSE):        
Loss before income and mining taxes 5,936 (4,339) 14,448 (13,139)
Income and mining tax recovery 248 116 438 226
Net loss and comprehensive loss attributable to McEwen shareholders 10,450 489 14,115 (4,996)
Gold and silver sales        
REVENUE:        
Revenue from gold and silver sales $ 47,476 $ 34,395 $ 88,704 $ 69,147