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INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE (Tables)

3 Months Ended

Mar. 31, 2013

INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE

Schedule of reconciliation of fair value allocation

		For three months ended
		March 31, 2012
		(in thousands)
Amortization of fair value increments, as reported		$	2,804
Adjustment		(1,851		)
Amortization of fair value increments, as adjusted		$	953
Net loss, as reported		$	(19,202	)
Adjustment		1,851
Net loss, as adjusted		$	(17,351	)

Schedule of change in the entity's investment in MSC

		March 31, 2013			December 31, 2012
		(in thousands)
Investment in MSC, beginning of period		$	273,948		$	—
Fair value of investment in MSC from acquisition of Minera Andes		—			262,883
Income from equity investment		1,196			25,301
Amortization of fair value increments		(1,433		)	(4,466		)
Dividend distribution		—			(9,770		)
Investment in MSC, end of period		$	273,711		$	273,948

Summary of MSC's financial information from operations

		Three Months Ended			Period Ended
		March 31, 2013			March 31, 2012
		(in thousands)
Summary of MSC’s financial information from operations
Sales - MSC 100%		$	43,813		$	40,228
Net income - MSC 100%		2,440			8,167
McEwen Mining’s portion - 49%		1,196			4,002
Net income on investment in MSC		$	1,196		$	4,002
Amortization of fair value increments		(1,433		)	(953		)
(Loss) income on investment in MSC, net of amortization		$	(237	)	$	3,049

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Tabular disclosure of MSC's financial information from operations.

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