XML 25 R8.htm IDEA: XBRL DOCUMENT
v3.23.1

OPERATING SEGMENT REPORTING | 3 Months Ended
--- | ---
Mar. 31, 2023
OPERATING SEGMENT REPORTING |
OPERATING SEGMENT REPORTING | NOTE 2 OPERATING SEGMENT REPORTING The Company is a mining and minerals production and exploration company focused on precious and base metals in the United States, Canada, Mexico, and Argentina. The Company’s chief operating decision maker (“CODM”) reviews the operating results, assesses performance and makes decisions about the allocation of resources to these segments at the geographic region level or major mine/project level where the economic characteristics of the individual mines or projects within a geographic region are not alike. As a result, these operating segments also represent the Company’s reportable segments for accounting purposes. The Company’s business activities that are not considered operating segments are included in General and Administrative and Other Income or Expense line item in the below table, and are provided for reconciliation purposes. The CODM reviews segment income or loss, defined as gold and silver sales less production costs applicable to sales, depreciation and depletion, advanced projects and exploration costs, for all segments except for the MSC segment, which is evaluated based on the attributable equity income or loss. Gold and silver sales and production costs applicable to sales for the reportable segments are reported net of intercompany transactions. Capital expenditures include costs capitalized in mineral property interests and plant and equipment in the respective periods. Significant information relating to the Company’s reportable operating segments for the periods presented is summarized in the tables below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three months ended March 31, 2023 |  | USA |  | Canada |  | Mexico |  | MSC |  | McEwen Copper |  | Total
Revenue from gold and silver sales | ​ | $ | 11,587 | ​ | $ | 23,165 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 34,752
Production costs applicable to sales | ​ | ​ | (9,341) | ​ | ​ | (14,072) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ |  | (23,413)
Depreciation and depletion | ​ | ​ | (1,260) | ​ | ​ | (5,636) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (6,896)
Gross profit | ​ | ​ | 986 | ​ | ​ | 3,457 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 4,443
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Advanced projects | ​ | ​ | (289) | ​ | ​ | — | ​ | ​ | (1,391) | ​ | ​ | — | ​ | ​ | (31,880) | ​ |  | (33,560)
Exploration | ​ | ​ | (773) | ​ | ​ | (4,740) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (387) | ​ | ​ | (5,900)
Loss from investment in Minera Santa Cruz S.A. | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (3,461) | ​ | ​ | — | ​ |  | (3,461)
Segment loss | ​ | $ | (76) | ​ | $ | (1,283) | ​ | $ | (1,391) | ​ | $ | (3,461) | ​ | $ | (32,267) | ​ | $ | (38,478)
General and administrative and other | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1,532
Loss before income and mining taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (36,946)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Capital expenditures | ​ | $ | 2,991 | ​ | $ | 2,773 | ​ | $ | — | ​ | $ | — | ​ | $ | 954 | ​ | $ | 6,718
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three months ended March 31, 2022 |  | USA |  | Canada |  | Mexico |  | MSC |  | McEwen Copper |  | Total
Revenue from gold and silver sales | ​ | $ | 11,742 | ​ | $ | 12,896 | ​ | $ | 904 | ​ | $ | — | ​ | $ | — | ​ | $ | 25,542
Production costs applicable to sales | ​ | ​ | (14,172) | ​ | ​ | (8,647) | ​ | ​ | (5,005) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (27,824)
Depreciation and depletion | ​ | ​ | (818) | ​ | ​ | (2,894) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (3,712)
Gross profit (loss) | ​ | ​ | (3,248) | ​ | ​ | 1,355 | ​ | ​ | (4,101) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (5,994)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Advanced projects | ​ | ​ | (45) | ​ | ​ | (91) | ​ | ​ | (1,243) | ​ | ​ | — | ​ | $ | (9,756) | ​ | ​ | (11,135)
Exploration | ​ | ​ | (1,449) | ​ | ​ | (1,700) | ​ | ​ | (1) | ​ | ​ | — | ​ | $ | (60) | ​ | ​ | (3,210)
Loss from investment in Minera Santa Cruz S.A. | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (1,120) | ​ | $ | — | ​ | ​ | (1,120)
Segment loss | ​ | $ | (4,742) | ​ | $ | (436) | ​ | $ | (5,345) | ​ | $ | (1,120) | ​ | $ | (9,816) | ​ | $ | (21,459)
General and administrative and other | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (419)
Loss before income and mining taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (21,878)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Capital expenditures | ​ | $ | 277 | ​ | $ | 3,546 | ​ | $ | — | ​ | $ | — | ​ | $ | 234 | ​ | $ | 4,057
​ Geographic Information Geographic information includes the long-lived asset balances and revenues presented for the Company’s operating segments, as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Long-lived Assets | ​ | Revenue (1)
​ | ​ | March 31, | ​ | December 31, | ​ | Three months ended March 31,
​ |  | 2023 |  | 2022 |  | 2023 | ​ | 2022
USA (2) | ​ | $ | 75,957 | ​ | $ | 70,577 | ​ | $ | 11,587 | ​ | $ | 11,742
Canada | ​ | ​ | 95,326 | ​ | ​ | 91,552 | ​ | ​ | 23,165 | ​ | ​ | 12,896
Mexico | ​ | ​ | 29,218 | ​ | ​ | 29,219 | ​ | ​ | — | ​ | ​ | 904
Argentina (3) | ​ | ​ | 253,707 | ​ | ​ | 255,718 | ​ | ​ | — | ​ | ​ | —
Total consolidated | ​ | $ | 454,208 | ​ | $ | 447,066 | ​ | $ | 34,752 | ​ | $ | 25,542
​
(1) | Presented based on the location from which the precious metals originated.
(2) | Includes Elder Creek exploration property of $0.8 million as of March 31, 2023 (December 31, 2022 - $0.8 million).
(3) | Includes Investment in MSC of $90.0 million as of March 31, 2023 (December 31, 2022 – $93.5 million)

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration