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OPERATING SEGMENT REPORTING (Tables)

6 Months Ended

Jun. 30, 2023

OPERATING SEGMENT REPORTING

Schedule of significant information relating to reportable operating segments

Three months ended June 30, 2023

USA

Canada

Mexico

MSC

McEwen Copper

Total

Revenue from gold and silver sales

$

15,971

$

18,424

$

—

$

—

$

—

$

34,395

Production costs applicable to sales

(17,115)

(12,455)

—

—

—

(29,570)

Depreciation and depletion

(3,263)

(5,030)

—

—

—

(8,293)

Gross profit

(4,407)

939

—

—

—

(3,468)

Advanced projects

(303)

—

(972)

—

(28,524)

(29,799)

Exploration

(1,545)

(4,307)

—

—

—

(5,852)

Loss from investment in Minera Santa Cruz S.A.

—

—

—

(914)

—

(914)

Segment loss

$

(6,255)

$

(3,368)

$

(972)

$

(914)

$

(28,524)

$

(40,033)

General and administrative and other

(5,277)

Loss before income and mining taxes

$

(45,310)

Capital expenditures

$

3,235

$

1,410

$

—

$

—

$

561

$

5,206

Six months ended June 30, 2023

USA

Canada

Mexico

MSC

McEwen Copper

Total

Revenue from gold and silver sales

$

27,559

$

41,588

$

—

$

—

$

—

$

69,147

Production costs applicable to sales

(26,455)

(26,528)

—

—

—

(52,983)

Depreciation and depletion

(4,523)

(10,666)

—

—

—

(15,189)

Gross profit

(3,419)

4,394

—

—

—

975

Advanced projects

(592)

—

(2,362)

—

(60,405)

(63,359)

Exploration

(2,320)

(9,046)

—

—

(386)

(11,752)

Loss from investment in Minera Santa Cruz S.A.

—

—

—

(4,375)

—

(4,375)

Segment loss

$

(6,331)

$

(4,652)

$

(2,362)

$

(4,375)

$

(60,791)

$

(78,511)

General and Administrative and other

(3,745)

Loss before income and mining taxes

$

(82,256)

Capital expenditures

$

6,226

$

4,183

$

—

$

—

$

1,515

$

11,924


Three months ended June 30, 2022		USA			Canada			Mexico			MSC			McEwen Copper			Total
Revenue from gold and silver sales		$	9,996		$	20,246		$	405		$	—		$	—		$	30,647
Production costs applicable to sales			(8,305)			(11,260)			(3,378)			—			—			(22,943)
Depreciation and depletion			(943)			(2,526)			—			—			—			(3,469)
Gross profit (loss)			748			6,460			(2,973)			—			—			4,235

Advanced projects			(3)			(105)			(733)			—			(14,081)			(14,922)
Exploration			(1,244)			(2,621)			—			—			(428)			(4,293)
Income from investment in Minera Santa Cruz S.A.			—			—			—			2,511			—			2,511
Segment income (loss)		$	(499)		$	3,734		$	(3,706)		$	2,511		$	(14,509)		$	(12,469)
General and administrative and other																		63
Loss before income and mining taxes																	$	(12,406)

Capital expenditures		$	219		$	4,008		$	—		$	—		$	150		$	4,377


Six months ended June 30, 2022		USA			Canada			Mexico			MSC			McEwen Copper			Total
Revenue from gold and silver sales		$	21,739		$	33,141		$	1,309		$	—		$	—		$	56,189
Production costs applicable to sales			(22,477)			(19,907)			(8,383)			—			—			(50,767)
Depreciation and depletion			(1,760)			(5,421)			—			—			—			(7,181)
Gross profit (loss)			(2,498)			7,813			(7,074)			—			—			(1,759)

Advanced projects			(49)			(195)			(1,976)			—			(23,837)			(26,057)
Exploration			(2,695)			(4,321)			—			—			(487)			(7,503)
Income from investment in Minera Santa Cruz S.A.			—			—			—			1,391			—			1,391
Segment loss		$	(5,242)		$	3,297		$	(9,050)		$	1,391		$	(24,324)		$	(33,928)
General and Administrative and other																		(357)
Loss before income and mining taxes																	$	(34,285)

Capital expenditures		$	496		$	7,554		$	—		$	—		$	384		$	8,434

Schedule of geographic information


		Non-current Assets						Revenue ⁽¹⁾						Revenue ⁽¹⁾
		June 30,			December 31,			Three months ended June 30,						Six months ended June 30,
		2023			2022			2023			2022			2023			2022
USA ⁽²⁾		$	73,726		$	70,577		$	15,971		$	9,996		$	27,559		$	21,739
Canada			92,347			91,552			18,424			20,246			41,588			33,141
Mexico			29,217			29,219			—			405			—			1,309
Argentina ⁽³⁾			252,971			255,718			—			—			—			—
Total consolidated		$	448,261		$	447,066		$	34,395		$	30,647		$	69,147		$	56,189

(1)	Presented based on the location from which the precious metals originated.

(2)	Includes Elder Creek exploration property of $0.8 million as of June 30, 2023 (December 31, 2022 - $0.8 million).

(3)	Includes Investment in MSC of $88.8 million as of June 30, 2023 (December 31, 2022 – $93.5 million).