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RELATED PARTY TRANSACTIONS | 6 Months Ended
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Jun. 30, 2017
RELATED PARTY TRANSACTIONS |
RELATED PARTY TRANSACTIONS | NOTE 11 RELATED PARTY TRANSACTIONS The Company recorded the following expense (income) in respect to the related parties outlined below:
|  | Three months ended June 30, |  | Six months ended June 30,
|  | 2017 |  | 2016 |  | 2017 |  | 2016
Lexam L.P. |  | $ | 27 |  | $ | 51 |  | $ | 90 |  | $ | 71
Lexam VG Gold |  |  | — |  |  | 18 |  |  | (33) |  |  | 41
REVlaw |  |  | 33 |  |  | 27 |  |  | 83 |  |  | 50
The Company has the following outstanding accounts payable balance in respect to the related parties outlined below:
|  | June 30, |  | December 31,
|  | 2017 |  | 2016
Lexam VG Gold |  |  | — |  |  | 27
REVlaw |  |  | 55 |  |  | 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. On April 26, 2017, the Company completed the acquisition of 100% of the issued and outstanding securities of Lexam and Lexam became a wholly-owned subsidiary of the Company. Refer to Note 15 Acquisition of Lexam. Prior to the acquisition, Robert R. McEwen was the Non-Executive Chairman of Lexam and held a 27% ownership in Lexam and the Company shared services with Lexam including rent, personnel, office expenses and other administrative services. Historically, these transactions were in the normal course of business. REVlaw is a company owned by Ms. Carmen Diges, General Counsel of the Company. The legal services of Ms. Diges as General Counsel and one other member of the legal department are provided by REVlaw in the normal course of business and have been recorded at their exchange amount.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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