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OPERATING SEGMENT REPORTING (Tables)

9 Months Ended

Sep. 30, 2024

OPERATING SEGMENT REPORTING

Schedule of significant information relating to reportable operating segments


Three months ended September 30, 2024		USA			Canada			Mexico			MSC			McEwen Copper			Total
Revenue from gold and silver sales		$	33,251		$	18,999		$	—		$	—		$	—		$	52,250
Production costs applicable to sales			(17,078)			(12,604)			—			—			—			(29,682)
Depreciation and depletion			(4,235)			(4,530)			—			—			—			(8,765)
Gross profit			11,938			1,865			—			—			—			13,803

Advanced projects			—			—			(2,468)			—			—			(2,468)
Exploration			(3,474)			(1,855)			—			—			—			(5,329)
Loss from equity method investments			—			—			—			(1,228)			(1,852)			(3,080)
Segment profit (loss)		$	8,464		$	10		$	(2,468)		$	(1,228)		$	(1,852)		$	2,926
General and administrative																		(2,138)
Other expense																		(2,055)
Loss before income and mining taxes																	$	(1,267)

Capital expenditures		$	11,307		$	7,343		$	490		$	—		$	—		$	19,140

Nine months ended September 30, 2024

USA

Canada

Mexico

MSC

McEwen Copper

Total

Revenue from gold and silver sales

$

88,215

$

51,539

$

1,200

$

—

$

—

$

140,954

Production costs applicable to sales

(49,515)

(37,343)

—

—

—

(86,858)

Depreciation and depletion

(10,705)

(12,819)

—

—

—

(23,524)

Gross profit

27,995

1,377

1,200

—

—

30,572

Advanced projects

—

—

(7,912)

—

—

(7,912)

Exploration

(7,102)

(7,082)

—

—

—

(14,184)

Income (loss) from equity method investments

—

—

—

4,751

(36,680)

(31,929)

Segment profit (loss)

$

20,893

$

(5,705)

$

(6,712)

$

4,751

$

(36,680)

$

(23,453)

General and administrative

(10,672)

Other expense

(5,453)

Loss before income and mining taxes

$

(39,578)

Capital expenditures

$

12,756

$

15,547

$

2,043

$

—

$

—

$

30,346


Three months ended September 30, 2023		USA			Canada			Mexico			MSC			McEwen Copper			Total
Revenue from gold and silver sales		$	17,967		$	20,259		$	178		$	—		$	—		$	38,404
Production costs applicable to sales			(14,399)			(12,069)			—			—			—			(26,468)
Depreciation and depletion			(2,647)			(5,534)			—			—			—			(8,181)
Gross profit			921			2,656			178			—			—			3,755

Advanced projects			—			—			(1,966)			—			(18,478)			(20,444)
Exploration			(1,813)			(2,861)			—			—			—			(4,674)
Loss from equity method investments			—			—			—			(2,672)			—			(2,672)
Segment loss		$	(892)		$	(205)		$	(1,788)		$	(2,672)		$	(18,478)		$	(24,035)
General and administrative																		(3,720)
Other expense																		(862)
Loss before income and mining taxes																	$	(28,617)

Capital expenditures		$	5,211		$	2,574		$	705		$	—		$	1,573		$	10,063


Nine months ended September 30, 2023		USA			Canada			Mexico			MSC			McEwen Copper			Total
Revenue from gold and silver sales		$	45,526		$	61,847		$	178		$	—		$	—		$	107,551
Production costs applicable to sales			(41,446)			(38,597)			—			—			—			(80,043)
Depreciation and depletion			(7,170)			(16,200)			—			—			—			(23,370)
Gross profit (loss)			(3,090)			7,050			178			—			—			4,138

Advanced projects			—			—			(4,308)			—			(78,883)			(83,191)
Exploration			(4,133)			(11,907)			—			—			(386)			(16,426)
Loss from equity method investments			—			—			—			(7,047)			—			(7,047)
Segment loss		$	(7,223)		$	(4,857)		$	(4,130)		$	(7,047)		$	(79,269)		$	(102,526)
General and administrative																		(9,211)
Other income																		864
Loss before income and mining taxes																	$	(110,873)

Capital expenditures		$	11,437		$	6,757		$	705		$	—		$	3,088		$	21,987

Schedule of geographic information


		Non-current Assets						Revenue ⁽¹⁾						Revenue ⁽¹⁾
		September 30,			December 31,			Three months ended September 30,						Nine months ended September 30,
		2024			2023			2024			2023			2024			2023
USA		$	90,059		$	71,234		$	33,251		$	17,967		$	88,215		$	45,526
Canada			84,763			83,674			18,999			20,259			51,539			61,847
Mexico			32,345			30,304			—			178			1,200			178
Argentina ⁽²⁾⁽³⁾			401,053			419,366			—			—			—			—
Total Consolidated		$	608,220		$	604,578		$	52,250		$	38,404		$	140,954		$	107,551

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

(2)	Includes Investment in MSC of $97.6 million (December 31, 2023 – $93.2 million) and Investment in McEwen Copper of $303.5 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.