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CASH, CASH EQUIVALENTS AND RESTRICTED CASH

3 Months Ended

Mar. 31, 2022

CASH AND CASH EQUIVALENTS AND RESTRICTED CASH

CASH AND CASH EQUIVALENTS AND RESTRICTED CASH

NOTE 17 CASH, CASH EQUIVALENTS AND RESTRICTED CASH

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported in the Consolidated Balance Sheets to the amounts disclosed in the Consolidated Statements of Cash Flows:

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​	​	​	​	​	​	​
​	​	March 31, 2022		​	December 31, 2021
Cash and cash equivalents	​	$	63,783	​	$	54,287
Restricted cash - current	​	​	2,850	​	​	2,550
Restricted cash - non-current	​	​	3,797	​	​	3,797
Total cash, cash equivalents, and restricted cash	​	$	70,430	​	$	60,634

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The current portion of restricted cash are proceeds received as at March 31, 2022, as part of the Company’s ongoing second tranche financing for McEwen Copper. The cash and cash equivalent include $35.6 million related to McEwen Copper for the continued development of the Los Azules project. The non-current portion of restricted cash includes deposits related to the Company’s reclamation obligations and surety facility (Note 16).

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- Definition

The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(1))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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- References

No definition available.

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