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BUSINESS ACQUISITION (Tables)
 12 Months Ended
Dec. 31, 2012
BUSINESS ACQUISITION  
Schedule of principal assumptions used in applying the Black-Scholes option pricing model
  January 24, 2012

Risk-free interest rate

   0.02% to 0.39%

Dividend yield

   n/a

Volatility factor of the expected market price of common stock

   46% to 77%

Weighted-average expected life of option

   1.4 years
Schedule of allocation of the purchase price

The allocation of the purchase price, based on the estimated fair value of assets acquired and liabilities assumed on January 24, 2012, is summarized in the following table (in thousands).

 
   Fair Value  

Purchase price:

        

Exchangeable shares of McEwen Mining—Minera Andes Acquisition Corp. 

   $ 664,671  

Stock options to be exchanged for options of McEwen Mining Inc. 

     3,175  
       

 

   $ 667,846  
       

Net assets acquired:

        

Cash and cash equivalents

   $ 31,385  

Short-term investments

     4,952  

Other current assets

     9,828  

Inventories

     1,362  

Mineral property interests

     539,092  

Investment in Minera Santa Cruz S.A. 

     262,883  

Equipment

     1,647  

Accounts payable

     (5,323 )

Deferred income tax liability

     (177,980 )
       

 

   $ 667,846  
       
Schedule of pro forma results for the entity, had the acquisition been completed within the period

The following table sets forth on a pro forma basis, the results of operations for McEwen Mining, had the acquisition of Minera Andes been completed on January 1, 2012 and 2011 (in thousands):

Year ended December 31, 2012
  McEwen Mining   Minera Andes(a)   Combined  

Revenue

   $ 26,801   $ 4,979   $ 31,780  

Net (loss) income for the year

     (66,654 )   3,498     (63,156 )

 

Year ended December 31, 2011
  McEwen Mining   Minera Andes   Combined  

Revenue

   $ —   $ 44,982   $ 44,982  

Net (loss) income for the year

     (61,872 )   26,542     (35,330 )
(a)
Year ended December 31, 2012 represents the results of Minera Andes' operations from January 1, 2012 through January 24, 2012, closing date of the acquisition. Beginning January 25, 2012, the results of Minera Andes' operations are included in McEwen Mining's consolidated financial statements.