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OPERATING SEGMENT REPORTING (Tables)

6 Months Ended

Jun. 30, 2024

OPERATING SEGMENT REPORTING

Schedule of significant information relating to reportable operating segments

Three months ended June 30, 2024

USA

Canada

Mexico

MSC

McEwen Copper

Total

Revenue from gold and silver sales

$

29,686

$

17,790

$

—

$

—

$

—

$

47,476

Production costs applicable to sales

(19,170)

(12,896)

—

—

—

(32,066)

Depreciation and depletion

(434)

(4,218)

—

—

—

(4,652)

Gross profit

10,082

676

—

—

—

10,758

Advanced projects

—

—

(2,990)

—

—

(2,990)

Exploration

(2,547)

(2,437)

—

—

—

(4,984)

Income (loss) from equity method investments

—

—

—

4,701

(16,816)

(12,115)

Segment profit (loss)

$

7,535

$

(1,761)

$

(2,990)

$

4,701

$

(16,816)

$

(9,331)

General and administrative

(4,461)

Other expense

(1,579)

Loss before income and mining taxes

$

(15,371)

Capital expenditures

$

520

$

5,424

$

740

$

—

$

—

$

6,684

Six months ended June 30, 2024

USA

Canada

Mexico

MSC

McEwen Copper

Total

Revenue from gold and silver sales

$

54,964

$

32,540

$

1,200

$

—

$

—

$

88,704

Production costs applicable to sales

(32,437)

(24,739)

—

—

—

(57,176)

Depreciation and depletion

(6,470)

(8,289)

—

—

—

(14,759)

Gross profit (loss)

16,057

(488)

1,200

—

—

16,769

Advanced projects

—

—

(5,444)

—

—

(5,444)

Exploration

(3,628)

(5,227)

—

—

—

(8,855)

Income (loss) from equity method investments

—

—

—

5,979

(34,828)

(28,849)

Segment profit (loss)

$

12,429

$

(5,715)

$

(4,244)

$

5,979

$

(34,828)

$

(26,379)

General and administrative

(8,534)

Other expense

(3,398)

Loss before income and mining taxes

$

(38,311)

Capital expenditures

$

1,449

$

8,204

$

1,553

$

—

$

—

$

11,206


Three months ended June 30, 2023		USA			Canada			Mexico			MSC			McEwen Copper			Total
Revenue from gold and silver sales		$	15,971		$	18,424		$	—		$	—		$	—		$	34,395
Production costs applicable to sales			(17,115)			(12,455)			—			—			—			(29,570)
Depreciation and depletion			(3,263)			(5,030)			—			—			—			(8,293)
Gross (loss) profit			(4,407)			939			—			—			—			(3,468)

Advanced projects			(303)			—			(972)			—			(28,524)			(29,799)
Exploration			(1,545)			(4,307)			—			—			—			(5,852)
Loss from equity method investments			—			—			—			(914)			—			(914)
Segment loss		$	(6,255)		$	(3,368)		$	(972)		$	(914)		$	(28,524)		$	(40,033)
General and administrative																		(2,050)
Other expense																		(3,227)
Loss before income and mining taxes																	$	(45,310)

Capital expenditures		$	3,235		$	1,410		$	—		$	—		$	561		$	5,206


Six months ended June 30, 2023		USA			Canada			Mexico			MSC			McEwen Copper			Total
Revenue from gold and silver sales		$	27,559		$	41,588		$	—		$	—		$	—		$	69,147
Production costs applicable to sales			(26,455)			(26,528)			—			—			—			(52,983)
Depreciation and depletion			(4,523)			(10,666)			—			—			—			(15,189)
Gross profit (loss)			(3,419)			4,394			—			—			—			975

Advanced projects			(592)			—			(2,362)			—			(60,405)			(63,359)
Exploration			(2,320)			(9,046)			—			—			(386)			(11,752)
Loss from equity method investments			—			—			—			(4,375)			—			(4,375)
Segment loss		$	(6,331)		$	(4,652)		$	(2,362)		$	(4,375)		$	(60,791)		$	(78,511)
General and administrative																		(5,491)
Other income																		1,746
Loss before income and mining taxes																	$	(82,256)

Capital expenditures		$	6,226		$	4,183		$	—		$	—		$	1,515		$	11,924

Schedule of geographic information


		Non-current Assets						Revenue ⁽¹⁾						Revenue ⁽¹⁾
		June 30,			December 31,			Three months ended June 30,						Six months ended June 30,
		2024			2023			2024			2023			2024			2023
USA		$	70,267		$	71,234		$	29,686		$	15,971		$	54,964		$	27,559
Canada			80,731			83,674			17,790			18,424			32,540			41,588
Mexico			31,856			30,304			—			—			1,200			—
Argentina ⁽²⁾⁽³⁾			390,135			419,366			—			—			—			—
Total Consolidated		$	572,989		$	604,578		$	47,476		$	34,395		$	88,704		$	69,147

(1)	Presented based on the location from which the precious metals originated.

(2)	Includes Investment in MSC of $98.8 million (December 31, 2023 – $93.2 million) and Investment in McEwen Copper of $291.3 million (December 31, 2023 – $326.1 million).

(3)	Revenue is not reported on a consolidated basis for equity method investments. For a breakdown of Argentina segment revenue, refer to Note 9 Equity Method Investments.