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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
REVENUE:        
Revenue from gold and silver sales $ 52,250 $ 38,404 $ 140,954 $ 107,551
OPERATING EXPENSES:        
Production costs applicable to sales (29,682) (26,468) (86,858) (80,043)
Depreciation and depletion (8,765) (8,181) (23,524) (23,370)
Gross profit 13,803 3,755 30,572 4,138
OTHER OPERATING EXPENSES:        
Advanced projects - Los Azules   (18,478)   (78,883)
Advanced projects - Other (2,468) (1,966) (7,912) (4,308)
Exploration (5,329) (4,674) (14,184) (16,426)
General and administrative (2,138) (3,720) (10,672) (9,211)
Income (loss) from investment (Note 9) (3,080) (2,672) (31,929) (7,047)
Depreciation (156) (325) (485) (916)
Reclamation and remediation (Note 11) (729) (760) (1,416) (2,030)
Total other operating expenses (13,900) (32,595) (66,598) (118,821)
Operating loss (97) (28,840) (36,026) (114,683)
OTHER INCOME (EXPENSE):        
Interest and other finance income (expense), net (1,084) 10,331 (3,688) 38,372
Other income (expense) (Note 3) (86) (10,108) 136 (34,562)
Total other income (expense) (1,170) 223 (3,552) 3,810
Loss before income and mining taxes (1,267) (28,617) (39,578) (110,873)
Income and mining tax recovery (expense) (814) 244 4,119 2,829
Net loss after income and mining taxes (2,081) (28,373) (35,459) (108,044)
Net loss attributable to non-controlling interests   9,922   24,890
Net loss and comprehensive loss attributable to McEwen shareholders $ (2,081) $ (18,451) $ (35,459) $ (83,154)
Net loss per share (Note 13):        
Basic (in dollars per share) $ (0.04) $ (0.39) $ (0.70) $ (1.75)
Diluted (in dollars per share) $ (0.04) $ (0.39) $ (0.70) $ (1.75)
Weighted average common shares outstanding (thousands) (Note 13):        
Basic (in shares) 51,953 47,471 50,380 47,442
Diluted (in shares) 51,953 47,471 50,380 47,442
McEwen Copper Inc.        
OTHER OPERATING EXPENSES:        
Advanced projects - Other $ (6,147)   $ (91,877)  
Income (loss) from investment (Note 9) (1,852)   (36,680)  
OTHER INCOME (EXPENSE):        
Interest and other finance income (expense), net 3,295   23,590  
Loss before income and mining taxes (3,838)   (76,806)  
Net loss and comprehensive loss attributable to McEwen shareholders (3,838)   (76,806)  
Minera Santa Cruz S.A.        
REVENUE:        
Revenue from gold and silver sales 70,361 $ 64,495 210,635 $ 177,947
OPERATING EXPENSES:        
Depreciation and depletion (13,248) (15,190) (36,897) (37,783)
OTHER OPERATING EXPENSES:        
Income (loss) from investment (Note 9) (1,228) (2,672) 4,751 (7,047)
OTHER INCOME (EXPENSE):        
Loss before income and mining taxes (2,598) 735 11,850 (12,403)
Income and mining tax recovery (expense) 251 122 689 348
Net loss and comprehensive loss attributable to McEwen shareholders $ (1,318) $ (3,218) $ 12,797 $ (8,213)