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INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE (Tables) | 3 Months Ended
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Mar. 31, 2022
INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE |
Summary of MSC's financial information from operations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended March 31,
​ |  | 2022 | ​ | 2021
Minera Santa Cruz S.A. (100%) | ​ | ​ | ​ | ​ | ​ | ​
Revenue from gold and silver sales | ​ | $ | 39,207 | ​ | $ | 53,303
Production costs applicable to sales | ​ | ​ | (31,789) | ​ | ​ | (36,367)
Depreciation and depletion | ​ | ​ | (6,896) | ​ | ​ | (6,953)
Gross profit | ​ | ​ | 522 | ​ | ​ | 9,983
Exploration | ​ | ​ | (1,735) | ​ | ​ | (2,236)
Other expenses(1) | ​ | ​ | (3,880) | ​ | ​ | (5,536)
Net income (loss) before tax | ​ | $ | (5,093) | ​ | $ | 2,211
Current and deferred tax expense | ​ | ​ | 3,807 | ​ | ​ | (1,629)
Net income (loss) | ​ | $ | (1,286) | ​ | $ | 582
​ | ​ | ​ | ​ | ​ | ​ | ​
Portion attributable to McEwen Mining Inc. (49%) | ​ | ​ | ​ | ​ | ​ | ​
Net income (loss) | ​ | $ | (630) | ​ | $ | 285
Amortization of fair value increments | ​ |  | (613) | ​ |  | (1,071)
Income tax recovery | ​ | ​ | 123 | ​ | ​ | 212
Loss from investment in MSC, net of amortization | ​ | $ | (1,120) | ​ | $ | (574)
​ (1) Other expenses include foreign exchange, accretion of asset retirement obligations, other finance-related expenses.
Schedule of change in the entity's investment in MSC | ​
​ | ​ | ​ | ​ | ​ | ​
​ | Three months ended March 31, 2022 |  | Year ended December 31, 2021
Investment in MSC, beginning of period | $ | 90,961 | ​ | $ | 108,326
Attributable net (loss) income from MSC | ​ | (630) | ​ | ​ | 132
Amortization of fair value increments |  | (613) | ​ |  | (8,331)
Income tax recovery | ​ | 123 | ​ | ​ | 666
Dividend distribution received |  | — | ​ |  | (9,832)
Investment in MSC, end of period | $ | 89,841 | ​ | $ | 90,961
Summary of key assets and liabilities, before and after adjustments to fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As at March 31, 2022 | ​ | Balance excluding FV increments | ​ | Adjustments | ​ | Balance including FV increments
Current assets | ​ | $ | 85,336 | ​ | $ | 889 | ​ | $ | 86,225
Total assets | ​ | $ | 176,818 | ​ | $ | 88,710 | ​ | $ | 265,528
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current liabilities | ​ | $ | (51,574) | ​ | $ | — | ​ | $ | (51,574)
Total liabilities | ​ | $ | (79,865) | ​ | $ | (2,326) | ​ | $ | (82,191)

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