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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
REVENUE:        
Revenue from gold and silver sales $ 50,534 $ 52,250 $ 132,930 $ 140,954
OPERATING EXPENSES:        
Production costs applicable to sales (35,233) (29,682) (82,571) (86,858)
Depreciation and depletion (7,485) (8,765) (20,192) (23,524)
Gross profit 7,816 13,803 30,167 30,572
OTHER OPERATING EXPENSES:        
Advanced projects (1,658) (2,468) (4,237) (7,912)
Exploration (6,778) (5,329) (15,851) (14,184)
General and administrative (6,069) (2,138) (14,484) (10,672)
Income (loss) from equity method investments (806) (3,080) (12,256) (31,929)
Depreciation (158) (156) (475) (485)
Reclamation and remediation (778) (729) (2,310) (1,416)
Total other operating expenses (16,247) (13,900) (49,613) (66,598)
Operating loss (8,431) (97) (19,446) (36,026)
OTHER INCOME (EXPENSES):        
Interest and other finance expenses, net (1,628) (1,084) (4,660) (3,688)
Other income (expenses) (Note 3) 8,328 (86) 16,955 136
Total other income (expenses) 6,700 (1,170) 12,295 (3,552)
Income (loss) before income and mining taxes (1,731) (1,267) (7,151) (39,578)
Income and mining tax recovery (expense) (Note 17) 1,269 (814) 3,459 4,119
Net loss after income and mining taxes $ (462) $ (2,081) $ (3,692) $ (35,459)
Net income (loss) per share (Note 13):        
Basic (in dollars per share) $ (0.01) $ (0.04) $ (0.07) $ (0.7)
Diluted (in dollars per share) $ (0.01) $ (0.04) $ (0.07) $ (0.7)
Weighted average common shares outstanding (thousands) (Note 13):        
Basic (in shares) 54,170 51,953 53,808 50,380
Diluted (in shares) 54,170 51,953 53,808 50,380
McEwen Copper        
OTHER OPERATING EXPENSES:        
Advanced projects $ (5,743) $ (6,147) $ (39,250) $ (91,877)
Income (loss) from equity method investments (4,275) (1,852) (19,831) (36,680)
OTHER INCOME (EXPENSES):        
Interest and other finance expenses, net (879) 3,295 2,646 23,590
Income (loss) before income and mining taxes (9,205) (3,838) (42,702) (76,806)
Minera Santa Cruz S.A.        
REVENUE:        
Revenue from gold and silver sales 91,723 70,361 258,511 210,635
OPERATING EXPENSES:        
Depreciation and depletion (16,571) (13,248) (37,793) (36,897)
OTHER OPERATING EXPENSES:        
Income (loss) from equity method investments 3,469 (1,228) 7,575 4,751
OTHER INCOME (EXPENSES):        
Other income (expenses) (Note 3) (4,550) 1,649 (8,245) 699
Income (loss) before income and mining taxes 16,764 (2,598) 33,230 11,850
Income and mining tax recovery (expense) (Note 17) $ 10 $ 251 $ 24 $ 689