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RELATED PARTY TRANSACTIONS | 3 Months Ended
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Mar. 31, 2019
RELATED PARTY TRANSACTIONS |
RELATED PARTY TRANSACTIONS | NOTE 11 RELATED PARTY TRANSACTIONS The Company recorded the following expense in respect to the related parties outlined below:
|  |  |  | Three months ended March 31,
|  |  |  | 2019 |  | 2018
Lexam L.P. |  |  |  | $ | 61 |  | $ | 27
REVlaw |  |  |  |  | 41 |  |  | 52
The Company has the following outstanding accounts payable balances in respect to the related parties outlined below:
|  |  |  | March 31, |  | December 31,
|  |  |  | 2019 |  | 2018
Lexam L.P. |  |  |  | $ | 65 |  | $ | —
REVlaw |  |  |  |  | 12 |  |  | 32
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. REVlaw is a company owned by 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. An affiliate of Mr. McEwen is also a lender in the $50.0 million senior secured three-year term loan facility (“Term Loan”). That affiliate participated as a lender for $25.0 million of the total $50.0 million term loan. During the three months ended March 31, 2019, the Company paid $0.6 million (March 31, 2018 – $nil) in interest to this affiliate. See Note 17 Debt.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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