XML 13 R2.htm IDEA: XBRL DOCUMENT v3.25.2
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
REVENUE:        
Revenue from gold and silver sales $ 46,700 $ 47,476 $ 82,396 $ 88,704
OPERATING EXPENSES:        
Production costs applicable to sales (27,733) (32,066) (47,338) (57,176)
Depreciation and depletion (6,686) (4,652) (12,707) (14,759)
Gross profit 12,281 10,758 22,351 16,769
OTHER OPERATING EXPENSES:        
Advanced projects (895) (2,990) (2,579) (5,444)
Exploration (5,392) (4,984) (9,073) (8,855)
General and administrative (5,046) (4,461) (8,415) (8,534)
Income (loss) from equity method investments (3,382) (12,115) (11,450) (28,849)
Depreciation (167) (158) (317) (329)
Reclamation and remediation (Note 11) (774) 3 (1,532) (687)
Total other operating expenses (15,656) (24,705) (33,366) (52,698)
Operating loss (3,375) (13,947) (11,015) (35,929)
OTHER INCOME (EXPENSE):        
Interest and other finance expenses, net (1,746) (1,734) (3,032) (2,604)
Other income (Note 3) 7,050 310 8,627 222
Total other income (expense) 5,304 (1,424) 5,595 (2,382)
Income (loss) before income and mining taxes 1,929 (15,371) (5,420) (38,311)
Income and mining tax recovery (expense) (Note 17) 1,111 2,376 2,190 4,933
Net income (loss) after income and mining taxes $ 3,040 $ (12,995) $ (3,230) $ (33,378)
Net income (loss) per share (Note 13):        
Basic (in dollars per share) $ 0.06 $ (0.26) $ (0.06) $ (0.67)
Diluted (in dollars per share) $ 0.06 $ (0.26) $ (0.06) $ (0.67)
Weighted average common shares outstanding (thousands) (Note 13):        
Basic (in shares) 53,968 49,718 53,623 49,580
Diluted (in shares) 54,022 49,718 53,623 49,580
McEwen Copper        
OTHER OPERATING EXPENSES:        
Advanced projects $ (12,236) $ (37,547) $ (33,507) $ (85,730)
Income (loss) from equity method investments (6,978) (16,816) (15,556) (34,828)
OTHER INCOME (EXPENSE):        
Interest and other finance expenses, net (381) 3,841 3,525 20,295
Income (loss) before income and mining taxes (15,026) (35,231) (33,497) (72,968)
Minera Santa Cruz S.A.        
REVENUE:        
Revenue from gold and silver sales 94,886 74,348 166,789 140,274
OPERATING EXPENSES:        
Depreciation and depletion (10,612) (14,723) (21,222) (23,649)
OTHER OPERATING EXPENSES:        
Income (loss) from equity method investments 3,596 4,701 4,106 5,979
OTHER INCOME (EXPENSE):        
Other income (Note 3) (4,521) (2,451) (3,695) (950)
Income (loss) before income and mining taxes 13,235 5,936 16,466 14,448
Income and mining tax recovery (expense) (Note 17) $ 10 $ 248 $ 15 $ 438