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INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE (Tables)
 9 Months Ended
Sep. 30, 2015
INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE  
Schedule of change in the entity's investment in MSC

 

 

 

 

 

 

 

 

 

    

Nine months ended September 30, 2015

    

Year ended December 31, 2014

 

Investment in MSC, beginning of the year

 

$
177,018

 

$
212,947

 

Attributable net loss from MSC

 

 
(2,541)

 

 
(2,597)

 

Amortization of fair value increments

 

 
(7,705)

 

 
(13,190)

 

Income tax recovery

 

 
6,282

 

 
10,503

 

Dividend distribution received

 

 
(548)

 

 
(9,483)

 

Impairment of investment in MSC

 

 

 —

 

 
(21,162)

 

Investment in MSC, end of the year

 

$
172,506

 

$
177,018

 

 

Summary of MSC's financial information from operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended  September 30,

 

Nine months ended September 30,

 

 

 

    

2015

    

2014

    

2015

    

2014

    

 

Minera Santa Cruz S.A. (100%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Sales

 

$
45,357

 

$
38,263

 

$
141,106

 

$
148,386

 

 

Production costs applicable to sales

 

 
(41,767)

 

 
(36,136)

 

 
(119,940)

 

 
(117,620)

 

 

Net (loss) income

 

 
(3,375)

 

 
(5,488)

 

 
(5,185)

 

 
304

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Portion attributable to McEwen Mining Inc. (49%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income

 

$
(1,654)

 

$
(2,689)

 

$
(2,541)

 

$
149

 

 

Amortization of fair value increments

 

 
(1,617)

 

 
(3,522)

 

 
(7,705)

 

 
(9,652)

 

 

Income tax recovery

 

 
1,630

 

 
1,770

 

 
6,282

 

 
9,653

 

 

(Loss) income from investment in MSC, net of amortization

 

$
(1,641)

 

$
(4,441)

 

$
(3,964)

 

$
150