Three months ended September 30,

Nine months ended September 30,

2020

2019

2020

2019

Minera Santa Cruz S.A. (100%)

Revenue from gold and silver sales

$

70,195

$

74,530

$

154,666

$

189,348

Production costs applicable to sales

(41,512)

(43,345)

(100,230)

(119,392)

Depreciation and depletion

(7,107)

(18,158)

(22,084)

(50,083)

Gross profit

21,576

13,027

32,352

19,873

Exploration

(2,814)

(1,482)

(7,855)

(7,373)

Other expenses

(6,509)

(5,394)

(17,651)

(8,926)

Net income before tax

$

12,253

$

6,151

$

6,846

$

3,574

Current and deferred tax expense

(4,922)

(4,512)

(2,989)

(8,350)

Net income (loss)

$

7,331

$

1,639

$

3,857

$

(4,776)

Portion attributable to McEwen Mining Inc. (49%)

Net income (loss)

$

3,592

$

803

$

1,890

$

(2,340)

Amortization of fair value increments

(1,255)

(2,551)

(3,891)

(6,922)

Income tax recovery

245

1,420

862

2,487

Income (loss) from investment in MSC, net of amortization

$

2,582

$

(328)

$

(1,139)

$

(6,775)