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

3 Months Ended

Mar. 31, 2021

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

Summary of MSC's financial information from operations

​

​	​	​	​	​	​	​
​	​	Three months ended March 31,
​		2021		​	2020
Minera Santa Cruz S.A. (100%)	​	​	​	​	​	​
Revenue from gold and silver sales	​	$	53,303	​	$	37,390
Production costs applicable to sales	​	​	(36,367)	​	​	(28,316)
Depreciation and depletion	​	​	(6,953)	​	​	(7,327)
Gross profit	​	​	9,983	​	​	1,747
Exploration	​	​	(2,236)	​	​	(2,866)
Other expenses(1)	​	​	(5,536)	​	​	(2,217)
Net income (loss) before tax	​	$	2,211	​	$	(3,336)
Current and deferred tax expense	​	​	(1,629)	​	​	49
Net income (loss)	​	$	582	​	$	(3,287)
​	​	​	​	​	​	​
Portion attributable to McEwen Mining Inc. (49%)	​	​	​	​	​	​
Net income (loss)	​	$	285	​	$	(1,611)
Amortization of fair value increments	​		(1,071)	​		(1,385)
Income tax recovery	​	​	212	​	​	320
Loss from investment in MSC, net of amortization	​	$	(574)	​	$	(2,676)

Schedule of change in the entity's investment in MSC

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​	​	​	​	​	​
​	March 31, 2021			December 31, 2020
Investment in MSC, beginning of period	$	108,326	​	$	110,183
Attributable net income from MSC	​	285	​	​	2,745
Amortization of fair value increments		(1,071)	​		(5,390)
Income tax recovery	​	212	​	​	1,128
Dividend distribution received		(4,984)	​		(340)
Investment in MSC, end of period	$	102,768	​	$	108,326

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

​

​	​	​	​	​	​	​	​	​	​
As at March 31, 2021	​	Balance excluding FV increments		​	Adjustments		​	Balance including FV increments
Current assets	​	$	86,274	​	$	488	​	$	86,762
Total assets	​	$	176,082	​	$	105,603	​	$	281,685
​	​	​	​	​	​	​	​	​	​
Current liabilities	​	$	(39,203)	​	$	—	​	$	(39,203)
Total liabilities	​	$	(68,461)	​	$	(3,502)	​	$	(71,963)

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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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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
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