RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2017

NOTE 10 RELATED PARTY TRANSACTIONS

The Company recorded the following expense (income) in respect to the related parties outlined below:


	Three months ended March 31,
	2017		2016
Lexam L.P.	$	62	$	20
Lexam VG Gold		(33)		23
REVlaw		49		23

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


	March 31,		December 31,
	2017		2016
Lexam L.P.	$	—	$	—
Lexam VG Gold		—		27
REVlaw		21		148

An aircraft owned by Lexam L.P. (which is controlled by Robert R. McEwen, limited partner and beneficiary of Lexam L.P. and the Company’s Chairman and Chief Executive Officer) has been made available to the Company in order to expedite business travel. In his role as Chairman and Chief Executive Officer of the Company, Mr. McEwen must travel extensively and frequently on short notice. Mr. McEwen is able to charter the aircraft from Lexam L.P. at a preferential rate approved by the Company’s independent board members under a policy whereby only the variable expenses of operating this aircraft for business related travel are eligible for reimbursement by the Company.

Robert R. McEwen was the Non-Executive Chairman of Lexam VG Gold (“Lexam”) and held 27% ownership in Lexam. The Company agreed to share services with Lexam VG Gold Inc. including rent, personnel, office expenses and other administrative services. These transactions were in the normal course of business. Subsequent to the period-end, on April 26, 2017, the Company completed the acquisition of 100% of the issued and outstanding securities of Lexam. Refer to Note 14 Subsequent Events for further details.

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