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INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE (Tables)

12 Months Ended

Dec. 31, 2020

INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE

Summary of MSC's financial information from operations

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Year ended December 31,								​
​		2020		​	2019		​	​	2018
Minera Santa Cruz S.A. (100%)	​	​	​	​	​	​	​	​	​	​
Revenue from gold and silver sales	​	$	219,020	​	$	263,887	​	$	213,096	​
Production costs applicable to sales	​	​	(138,182)	​	​	(159,915)	​	​	(151,779)	​
Depreciation and depletion	​	​	(29,809)	​	​	(69,995)	​	​	(52,200)	​
Gross profit	​	​	51,029	​	​	33,977	​	​	9,117	​
Exploration	​	​	(10,446)	​	​	(10,635)	​	​	(5,884)	​
Other expenses(1)	​	​	(30,515)	​	​	(13,065)	​	​	(12,840)	​
Net income (loss) before tax	​	$	10,068	​	$	10,277	​	$	(9,607)	​
Current and deferred tax expense	​	​	(4,466)	​	​	(14,556)	​	​	(10,934)	​
Net income (loss)	​	$	5,602	​	$	(4,279)	​	$	(20,541)	​
​	​	​	​	​	​	​	​	​	​	​
Portion attributable to McEwen Mining Inc. (49%)	​	​	​	​	​	​	​	​	​	​
Net income (loss)	​	$	2,745	​	$	(2,097)	​	$	(10,065)	​
Amortization of fair value increments	​		(5,390)	​		(9,448)	​		(9,730)	​
Income tax recovery	​	​	1,128	​	​	2,791	​	​	7,930	​
Loss from investment in MSC, net of amortization	​	$	(1,517)	​	$	(8,754)	​	$	(11,865)	​

Schedule of change in the entity's investment in MSC

​

​	​	​	​	​	​	​
​		December 31, 2020			December 31, 2019
Investment in MSC, beginning of year	​	$	110,183	​	$	127,814
Attributable net income (loss) from MSC	​	​	2,745	​	​	(2,097)
Amortization of fair value increments	​		(5,390)	​		(9,448)
Income tax recovery	​	​	1,128	​	​	2,791
Dividend distribution received	​		(340)	​		(8,877)
Investment in MSC, end of year	​	$	108,326	​	$	110,183

Summary of key assets and liabilities, before and after adjustments to fair value

​

​	​	​	​	​	​	​	​	​	​
As at December 31, 2020	​	Balance excluding FV increments		​	Adjustments		​	Balance including FV increments
Current assets	​	$	94,965	​	$	362	​	$	95,327
Total assets	​	$	186,438	​	$	107,821	​	$	294,259
​	​	​	​	​	​	​	​	​	​
Current liabilities	​	$	(40,396)	​	$	—	​	$	(40,396)
Total liabilities	​	$	(69,255)	​	$	(3,936)	​	$	(73,191)

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Tabular disclosure of MSC's financial information from operations.

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Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information.

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