RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2024

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

NOTE 15 RELATED PARTY TRANSACTIONS

The Company incurred the following expense in respect to the related party outlined below during the years presented:

	Year ended December 31,
	2024		2023		2022
REVlaw	$	154	$	194	$	366

The Company has the following outstanding accounts payable balance in respect to the related parties outlined below:

		December 31, 2024		December 31, 2023
REVlaw	$	30	$	96

REVlaw is a company owned by Ms. Carmen Diges, General Counsel of the Company. The legal services of Ms. Diges as General Counsel and other support staff, as needed, are provided by REVlaw in the normal course of business and have been recorded at their exchange amount.

The Company has the following outstanding accounts receivable balance in respect to the related party outlined below:

		December 31, 2024		December 31, 2023
McEwen Copper Inc.	$	286	$	2,376

An affiliate of Robert R. McEwen, Chairman and Chief Executive Officer, acted as a lender in the restructured $40.0 million term loan and continued as such under the ARCA. For the year ended December 31, 2024, the Company paid $3.9 million (December 31, 2023 – $3.8 million) in interest to this affiliate. Interest is payable monthly at a rate of 9.75% per annum.

On November 6, 2024, the Company participated in a private placement offering of units issued by Inventus Mining Corp., an affiliate of Robert R. McEwen, Perry Ing, Interim Chief Financial Officer, and Stefan M. Spears, Vice President – Corporate Development. The Company acquired 10 million units at a price of $0.03 per unit, for a total investment of $0.3 million. Each unit comprised one common share and one share purchase warrant.