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EQUITY METHOD INVESTMENTS (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
McEwen Copper Inc. |
Schedule of Equity Method Investments [Line Items] |
Summary of financial information from operations | ​
​ | ​ | ​ | ​ | ​ | ​
​ | Three months ended | ​ | Nine months ended
​ | September 30, 2024 | ​ | September 30, 2024
McEwen Copper (100%) | ​ | ​ | ​ | ​ | ​
Advanced projects | $ | (6,147) | ​ | $ | (91,877)
Other expenses | ​ | (678) | ​ | ​ | (4,529)
Foreign exchange loss | ​ | (308) | ​ | ​ | (3,990)
Interest and other income (1) | ​ | 3,295 | ​ | ​ | 23,590
Loss before tax | $ | (3,838) | ​ | $ | (76,806)
Current and deferred taxes | ​ | — | ​ | ​ | —
Net loss | $ | (3,838) | ​ | $ | (76,806)
​ | ​ | ​ | ​ | ​ | ​
Portion attributable to McEwen Mining (48.3%) | ​ | ​ | ​ | ​ | ​
Net loss on investment in McEwen Copper | $ | (1,852) | ​ | $ | (36,680)
​ (1) Interest and other income include gains on marketable securities and other finance-related income.
Schedule of change in the entity's investment | ​
​ | ​ | ​ | ​ | ​ | ​
​ | Nine months ended | ​ | Year ended
​ | September 30, 2024 | ​ | December 31, 2023
Investment, beginning of period | $ | 326,147 | ​ | $ | —
Additional investment in McEwen Copper | ​ | 14,000 | ​ | ​ | —
Deconsolidation of McEwen Copper | ​ | — | ​ | ​ | 383,968
Attributable net loss from McEwen Copper | ​ | (36,680) | ​ | ​ | (57,821)
Investment, end of period | $ | 303,467 | ​ | $ | 326,147
Summary of key assets and liabilities, before and after adjustments to fair value | ​
​ | ​ | ​ | ​
​ | ​ | ​
As at | ​ | September 30, 2024
Current assets | ​ | $ | 18,787
Total assets | ​ | $ | 201,902
​ | ​ | ​ | ​
Current liabilities | ​ | $ | (5,031)
Total liabilities | ​ | $ | (5,256)
Minera Santa Cruz S.A. |
Schedule of Equity Method Investments [Line Items] |
Summary of financial information from operations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended September 30, | ​ | Nine months ended September 30,
​ |  | 2024 | ​ | 2023 | ​ | 2024 | ​ | 2023
Minera Santa Cruz S.A. (100%) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenue from gold and silver sales | ​ | $ | 70,361 | ​ | $ | 64,495 | ​ | $ | 210,635 | ​ | $ | 177,947
Production costs applicable to sales | ​ | ​ | (58,031) | ​ | ​ | (43,380) | ​ | ​ | (154,136) | ​ | ​ | (131,434)
Depreciation and depletion | ​ | ​ | (13,248) | ​ | ​ | (15,190) | ​ | ​ | (36,897) | ​ | ​ | (37,783)
Gross profit (loss) | ​ | ​ | (918) | ​ | ​ | 5,925 | ​ | ​ | 19,602 | ​ | ​ | 8,730
Exploration | ​ | ​ | (3,329) | ​ | ​ | (2,538) | ​ | ​ | (8,451) | ​ | ​ | (7,336)
Other income (expense) (1) | ​ | ​ | 1,649 | ​ | ​ | (2,652) | ​ | ​ | 699 | ​ | ​ | (13,797)
Income (loss) before tax | ​ | $ | (2,598) | ​ | $ | 735 | ​ | $ | 11,850 | ​ | $ | (12,403)
Current and deferred tax recovery (expense) | ​ | ​ | 1,280 | ​ | ​ | (3,953) | ​ | ​ | 947 | ​ | ​ | 4,190
Net income (loss) | ​ | $ | (1,318) | ​ | $ | (3,218) | ​ | $ | 12,797 | ​ | $ | (8,213)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Portion attributable to McEwen Mining Inc. (49%) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income (loss) | ​ | $ | (646) | ​ | $ | (1,577) | ​ | $ | 6,271 | ​ | $ | (4,025)
Amortization of fair value increments | ​ |  | (833) | ​ |  | (1,217) | ​ |  | (2,209) | ​ |  | (3,370)
Income tax recovery | ​ | ​ | 251 | ​ | ​ | 122 | ​ | ​ | 689 | ​ | ​ | 348
Income (loss) from investment in MSC, net of amortization | ​ | $ | (1,228) | ​ | $ | (2,672) | ​ | $ | 4,751 | ​ | $ | (7,047)
​ (1) Other expenses include foreign exchange gains and losses, accretion of asset retirement obligations and other finance-related expenses.
Schedule of change in the entity's investment | ​
​ | ​ | ​ | ​ | ​ | ​
​ | Nine months ended | ​ | Year ended
​ | September 30, 2024 |  | December 31, 2023
Investment, beginning of period | $ | 93,218 | ​ | $ | 93,451
Attributable net income from MSC | ​ | 6,271 | ​ | ​ | 4,157
Amortization of fair value increments |  | (2,209) | ​ |  | (4,612)
Income tax recovery | ​ | 689 | ​ | ​ | 517
Dividend distribution received |  | (383) | ​ |  | (295)
Investment, end of period | $ | 97,586 | ​ | $ | 93,218
Summary of key assets and liabilities, before and after adjustments to fair value | ​
​ | ​ | ​ | ​
​ | ​ | ​
As at | ​ | September 30, 2024
Current assets | ​ | $ | 119,562
Total assets | ​ | $ | 211,075
​ | ​ | ​ | ​
Current liabilities | ​ | $ | (45,055)
Total liabilities | ​ | $ | (80,298)

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