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INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE (Tables)
6 Months Ended
Jun. 30, 2012
INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE  
Schedule of change in the entity's investment in MSC

 

 

 

 

As at

 

 

 

June 30, 2012

 

 

 

(in thousands)

 

Investment in MSC, beginning of period

 

$

 

Fair value of investment in MSC from acquisition of Minera Andes

 

224,999

 

Income from equity investment

 

5,597

 

Amortization of fair value increments

 

(4,607

)

Investment in MSC, end of period

 

$

225,989

 

 

Summary of MSC's financial information from operations

 

 

 

Three Months Ended

 

Period Ended

 

 

 

June 30, 2012

 

June 30, 2012

 

 

 

(in thousands)

 

(in thousands)

 

Summary of MSC’s financial information from operations

 

 

 

 

 

Sales - MSC 100%

 

$

56,375

 

$

96,603

 

Net income - MSC 100%

 

3,255

 

11,422

 

McEwen Mining’s portion - 49%

 

1,595

 

5,597

 

Net income on investment in MSC

 

$

1,595

 

$

5,597