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INVESTMENT IN MSC - SAN JOSE MINE (Tables) | 3 Months Ended
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Mar. 31, 2023
INVESTMENT IN MSC - SAN JOSE MINE |
Summary of MSC's financial information from operations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended March 31,
​ |  | 2023 | ​ | 2022
Minera Santa Cruz S.A. (100%) | ​ | ​ | ​ | ​ | ​ | ​
Revenue from gold and silver sales | ​ | $ | 45,740 | ​ | $ | 39,207
Production costs applicable to sales | ​ | ​ | (41,124) | ​ | ​ | (31,789)
Depreciation and depletion | ​ | ​ | (8,230) | ​ | ​ | (6,896)
Gross (loss) profit | ​ | ​ | (3,614) | ​ | ​ | 522
Exploration | ​ | ​ | (1,952) | ​ | ​ | (1,735)
Other expenses(1) | ​ | ​ | (3,234) | ​ | ​ | (3,880)
Net loss before tax | ​ | $ | (8,800) | ​ | $ | (5,093)
Current and deferred tax expense | ​ | ​ | 3,315 | ​ | ​ | 3,807
Net loss | ​ | $ | (5,485) | ​ | $ | (1,286)
​ | ​ | ​ | ​ | ​ | ​ | ​
Portion attributable to McEwen Mining Inc. (49%) | ​ | ​ | ​ | ​ | ​ | ​
Net loss | ​ | $ | (2,687) | ​ | $ | (630)
Amortization of fair value increments | ​ |  | (884) | ​ |  | (613)
Income tax recovery | ​ | ​ | 110 | ​ | ​ | 123
Loss from investment in MSC, net of amortization | ​ | $ | (3,461) | ​ | $ | (1,120)
​ (1) Other expenses include foreign exchange, accretion of asset retirement obligations and other finance-related expenses. ​
Schedule of change in the entity's investment in MSC | ​
​ | ​ | ​ | ​ | ​ | ​
​ | Three months ended March 31, 2023 |  | Year ended December 31, 2022
Investment in MSC, beginning of period | $ | 93,451 | ​ | $ | 90,961
Attributable net (loss) income from MSC | ​ | (2,687) | ​ | ​ | 6,303
Amortization of fair value increments |  | (884) | ​ |  | (4,155)
Income tax recovery | ​ | 110 | ​ | ​ | 628
Dividend distribution received |  | — | ​ |  | (286)
Investment in MSC, end of period | $ | 89,990 | ​ | $ | 93,451
Summary of key assets and liabilities, before and after adjustments to fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As at March 31, 2023 | ​ | Balance excluding FV increments | ​ | Adjustments | ​ | Balance including FV increments
Current assets | ​ | $ | 81,676 | ​ | $ | 705 | ​ | $ | 82,381
Total assets | ​ | $ | 188,078 | ​ | $ | 79,484 | ​ | $ | 267,562
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current liabilities | ​ | $ | (52,936) | ​ | $ | — | ​ | $ | (52,936)
Total liabilities | ​ | $ | (82,855) | ​ | $ | (1,071) | ​ | $ | (83,926)

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