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10-Q Filing

MCEWEN INC. CIK: 314203 Q1 2016
Filing Information
Form Type 10-Q
Accession Number 0001558370-16-005339
Period End Date 20160331
Filing Date 20160505
Fiscal Year 2016
Fiscal Period Q1
XBRL Instance mux-20160331.xml
Filing Contents
Balance Sheet 67 line items
Line Item Tag Value Unit Period
Common stock, par value CommonStockNoParValue - USD Point-in-time
Common stock, par value CommonStockNoParValue - USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 500.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 500.00M shares Point-in-time
Common, shares issued CommonStockSharesIssued 277.02M shares Point-in-time
Common, shares issued CommonStockSharesIssued 274.42M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $34.62M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $16.57M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $25.87M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $12.38M USD Point-in-time
Investments (note 2) AvailableForSaleSecuritiesEquitySecurities $1.03M USD Point-in-time
Investments (note 2) AvailableForSaleSecuritiesEquitySecurities $460.00K USD Point-in-time
Common, shares outstanding CommonStockSharesOutstanding 274.42M shares Point-in-time
Common, shares outstanding CommonStockSharesOutstanding 277.02M shares Point-in-time
Exchangeable, shares issued ExchangeableCommonStockSharesIssued 21.05M shares Point-in-time
Value added taxes receivable ValueAddedTaxReceivableCurrent $4.13M USD Point-in-time
Value added taxes receivable ValueAddedTaxReceivableCurrent $10.03M USD Point-in-time
Exchangeable, shares issued ExchangeableCommonStockSharesIssued 24.21M shares Point-in-time
Exchangeable, shares outstanding CommonStockOtherSharesOutstanding 27.60M shares Point-in-time
Inventories (note 3) InventoryNet $14.97M USD Point-in-time
Inventories (note 3) InventoryNet $15.77M USD Point-in-time
Exchangeable, shares outstanding CommonStockOtherSharesOutstanding 24.21M shares Point-in-time
Exchangeable, shares outstanding CommonStockOtherSharesOutstanding 21.05M shares Point-in-time
Other current assets OtherAssetsCurrent $2.53M USD Point-in-time
Other current assets OtherAssetsCurrent $1.99M USD Point-in-time
Total current assets AssetsCurrent $56.97M USD Point-in-time
Total current assets AssetsCurrent $54.44M USD Point-in-time
Mineral property interests (note 4) MineralPropertiesNet $237.37M USD Point-in-time
Mineral property interests (note 4) MineralPropertiesNet $237.25M USD Point-in-time
Mineral property interests (note 4) MineralPropertiesNet $287.49M USD Point-in-time
Investment in Minera Santa Cruz S.A. (note 5) InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures $167.11M USD Point-in-time
Investment in Minera Santa Cruz S.A. (note 5) InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures $177.35M USD Point-in-time
Investment in Minera Santa Cruz S.A. (note 5) InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures $169.44M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $15.76M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $15.66M USD Point-in-time
Other assets (note 14) OtherAssetsNoncurrent $537.00K USD Point-in-time
Other assets (note 14) OtherAssetsNoncurrent $531.00K USD Point-in-time
TOTAL ASSETS Assets $479.99M USD Point-in-time
TOTAL ASSETS Assets $475.08M USD Point-in-time
TOTAL ASSETS Assets $526.73M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $18.43M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $17.07M USD Point-in-time
Short-term bank indebtedness (note 6) LinesOfCreditCurrent $3.40M USD Point-in-time
Current portion of asset retirement obligation (note 4) AssetRetirementObligationCurrent $215.00K USD Point-in-time
Current portion of asset retirement obligation (note 4) AssetRetirementObligationCurrent $215.00K USD Point-in-time
Total current liabilities LiabilitiesCurrent $17.29M USD Point-in-time
Total current liabilities LiabilitiesCurrent $22.04M USD Point-in-time
Asset retirement obligation, less current portion (note 4) AssetRetirementObligationsNoncurrent $7.69M USD Point-in-time
Asset retirement obligation, less current portion (note 4) AssetRetirementObligationsNoncurrent $7.57M USD Point-in-time
Deferred income tax liability (note 9) DeferredTaxLiabilitiesNoncurrent $25.01M USD Point-in-time
Deferred income tax liability (note 9) DeferredTaxLiabilitiesNoncurrent $26.90M USD Point-in-time
Deferred rent expense DeferredRentCreditNoncurrent $286.00K USD Point-in-time
Deferred rent expense DeferredRentCreditNoncurrent $278.00K USD Point-in-time
Total liabilities Liabilities $50.27M USD Point-in-time
Total liabilities Liabilities $56.79M USD Point-in-time
Common stock, no par value, 500,000 shares authorized; Common: 274,254 as of September 30, 2015 and 271,579 as of December 31, 2014 issued and outstanding; Exchangeable: 26,277 shares as of September 30, 2015 and 28,521 shares as of December 31, 2014 issued and outstanding CommonStockValue $1.36B USD Point-in-time
Common stock, no par value, 500,000 shares authorized; Common: 274,254 as of September 30, 2015 and 271,579 as of December 31, 2014 issued and outstanding; Exchangeable: 26,277 shares as of September 30, 2015 and 28,521 shares as of December 31, 2014 issued and outstanding CommonStockValue $1.36B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-940.03M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-927.04M USD Point-in-time
Accumulated other comprehensive (loss) income AccumulatedOtherComprehensiveIncomeLossNetOfTax $-664.00K USD Point-in-time
Accumulated other comprehensive (loss) income AccumulatedOtherComprehensiveIncomeLossNetOfTax $-825.00K USD Point-in-time
Total shareholders' equity StockholdersEquity $441.21M USD Point-in-time
Total shareholders' equity StockholdersEquity $418.29M USD Point-in-time
Total shareholders' equity StockholdersEquity $447.92M USD Point-in-time
Total shareholders' equity StockholdersEquity $429.72M USD Point-in-time
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $479.99M USD Point-in-time
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $475.08M USD Point-in-time
Income Statement 51 line items
Line Item Tag Value Unit Period
Gold and silver sales RevenueMineralSales $21.19M USD 1 Quarter
Gold and silver sales RevenueMineralSales $22.88M USD 1 Quarter
Total Revenue Revenues $21.19M USD 1 Quarter
Total Revenue Revenues $22.88M USD 1 Quarter
Production costs applicable to sales CostOfGoodsSold $9.07M USD 1 Quarter
Production costs applicable to sales CostOfGoodsSold $10.45M USD 1 Quarter
Mine development costs ConstructionAndDevelopmentCosts $698.00K USD 1 Quarter
Mine development costs ConstructionAndDevelopmentCosts $174.00K USD 1 Quarter
Exploration costs ExplorationExpenseMining $2.34M USD 1 Quarter
Exploration costs ExplorationExpenseMining $1.74M USD 1 Quarter
Property holding costs CarryingCostsPropertyAndExplorationRights $1.15M USD 1 Quarter
Property holding costs CarryingCostsPropertyAndExplorationRights $1.49M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $2.77M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $3.21M USD 1 Quarter
Depreciation DepreciationDepletionAndAmortization $272.00K USD 1 Quarter
Depreciation DepreciationDepletionAndAmortization $239.00K USD 1 Quarter
Accretion of asset retirement obligation (note 4) AssetRetirementObligationAccretionExpense $101.00K USD 1 Quarter
Accretion of asset retirement obligation (note 4) AssetRetirementObligationAccretionExpense $124.00K USD 1 Quarter
Accretion of asset retirement obligation (note 4) AssetRetirementObligationAccretionExpense $429.00K USD Annual
Loss (Income) from investment in Minera Santa Cruz S.A., net of amortization (note 5) IncomeLossFromEquityMethodInvestments $329.00K USD 1 Quarter
Loss (Income) from investment in Minera Santa Cruz S.A., net of amortization (note 5) IncomeLossFromEquityMethodInvestments $4.96M USD 1 Quarter
Total costs and expenses CostsAndExpenses $10.82M USD 1 Quarter
Total costs and expenses CostsAndExpenses $17.71M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $10.37M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $5.17M USD 1 Quarter
Interest (expense) and other (expense) income InterestIncomeExpenseNet $-98.00K USD 1 Quarter
Interest (expense) and other (expense) income InterestIncomeExpenseNet $228.00K USD 1 Quarter
Foreign currency gain ForeignCurrencyTransactionGainLossBeforeTax $-212.00K USD 1 Quarter
Foreign currency gain ForeignCurrencyTransactionGainLossBeforeTax $783.00K USD 1 Quarter
Total other (expense) income NonoperatingIncomeExpense $748.00K USD 1 Quarter
Total other (expense) income NonoperatingIncomeExpense $-310.00K USD 1 Quarter
Gain on sale of marketable equity securities (note 2) MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments $22.00K USD 1 Quarter
Other-than-temporary impairment on marketable equity securities (note 2) OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities $285.00K USD 1 Quarter
Gain (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $11.12M USD 1 Quarter
Gain (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $4.86M USD 1 Quarter
Income taxes recovery (note 9) IncomeTaxExpenseBenefit $-1.87M USD 1 Quarter
Income taxes recovery (note 9) IncomeTaxExpenseBenefit $-1.16M USD 1 Quarter
Net income (loss) NetIncomeLossAvailableToCommonStockholdersBasic $12.98M USD 1 Quarter
Net income (loss) NetIncomeLossAvailableToCommonStockholdersBasic $6.02M USD 1 Quarter
Unrealized (loss) gain on available-for-sale securities, net of taxes OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent $-124.00K USD 1 Quarter
Unrealized (loss) gain on available-for-sale securities, net of taxes OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent $-165.00K USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $12.86M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $5.86M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.02 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.04 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.04 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.02 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 297.25M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 298.24M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 297.27M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 298.55M shares 1 Quarter
Cash Flow Statement 63 line items
Line Item Tag Value Unit Period
Collection of VAT taxes receivable CollectionOfValueAddedTaxesReceivable $2.75M USD 1 Quarter
Collection of VAT taxes receivable CollectionOfValueAddedTaxesReceivable $6.77M USD 1 Quarter
Cash paid to suppliers and employees PaymentsToSuppliersAndEmployees $16.47M USD 1 Quarter
Cash paid to suppliers and employees PaymentsToSuppliersAndEmployees $8.46M USD 1 Quarter
Cash received from gold and silver sales ProceedsFromCustomers $20.32M USD 1 Quarter
Cash received from gold and silver sales ProceedsFromCustomers $21.98M USD 1 Quarter
Dividends received from Minera Santa Cruz S.A. ProceedsFromDividendsReceived $2.63M USD 1 Quarter
Interest received ProceedsFromInterestReceived $98.00K USD 1 Quarter
Interest received ProceedsFromInterestReceived $220.00K USD 1 Quarter
Cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $14.71M USD 1 Quarter
Cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $5.62M USD 1 Quarter
Acquisition of mineral property interests PaymentsToAcquireMiningAssets $450.00K USD 1 Quarter
Additions to property and equipment PaymentsToAcquirePropertyPlantAndEquipment $192.00K USD 1 Quarter
Additions to property and equipment PaymentsToAcquirePropertyPlantAndEquipment $145.00K USD 1 Quarter
Investment in marketable equity securities PaymentsToAcquireMarketableSecurities $1.11M USD 1 Quarter
Cash (used in) provided by investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-1.31M USD 1 Quarter
Cash (used in) provided by investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-595.00K USD 1 Quarter
Short-term bank indebtedness (note 6) ProceedsFromRepaymentsOfLinesOfCredit $-3.40M USD 1 Quarter
Return of capital distribution paid (note 7) PaymentsOfCapitalDistribution $1.49M USD 1 Quarter
Return of capital distribution paid (note 7) PaymentsOfCapitalDistribution $1.50M USD Point-in-time
Return of capital distribution paid (note 7) PaymentsOfCapitalDistribution $1.50M USD Point-in-time
Share repurchase (note 7) PaymentsForRepurchaseOfCommonStock $582.00K USD 1 Quarter
Cash provided by financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-5.47M USD 1 Quarter
Effect of exchange rate change on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations $-120.00K USD 1 Quarter
Effect of exchange rate change on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations $102.00K USD 1 Quarter
Increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $8.75M USD 1 Quarter
Increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $4.19M USD 1 Quarter
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $34.62M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $16.57M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $25.87M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $12.38M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $34.62M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $16.57M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $25.87M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $12.38M USD Point-in-time
Net loss NetIncomeLossAvailableToCommonStockholdersBasic $12.98M USD 1 Quarter
Net loss NetIncomeLossAvailableToCommonStockholdersBasic $6.02M USD 1 Quarter
Loss (Income) from investment in Minera Santa Cruz S.A., net of amortization IncomeLossFromEquityMethodInvestments $329.00K USD 1 Quarter
Loss (Income) from investment in Minera Santa Cruz S.A., net of amortization IncomeLossFromEquityMethodInvestments $4.96M USD 1 Quarter
Other-than-temporary impairment on marketable equity securities (note 2) OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities $285.00K USD 1 Quarter
Recovery of deferred income taxes DeferredIncomeTaxExpenseBenefit $-1.87M USD 1 Quarter
Recovery of deferred income taxes DeferredIncomeTaxExpenseBenefit $-1.16M USD 1 Quarter
Stock-based compensation StockOptionPlanExpense $409.00K USD 1 Quarter
Stock-based compensation StockOptionPlanExpense $353.00K USD 1 Quarter
Depreciation DepreciationDepletionAndAmortization $272.00K USD 1 Quarter
Depreciation DepreciationDepletionAndAmortization $239.00K USD 1 Quarter
Accretion of asset retirement obligation AssetRetirementObligationAccretionExpense $101.00K USD 1 Quarter
Accretion of asset retirement obligation AssetRetirementObligationAccretionExpense $124.00K USD 1 Quarter
Accretion of asset retirement obligation AssetRetirementObligationAccretionExpense $429.00K USD Annual
Amortization of mineral property interests and asset retirement obligations MineralPropertyInterestsAndAssetRetirementObligationsAmortization $322.00K USD 1 Quarter
Amortization of mineral property interests and asset retirement obligations MineralPropertyInterestsAndAssetRetirementObligationsAmortization $322.00K USD 1 Quarter
Foreign exchange loss ForeignCurrencyTransactionGainLossUnrealized $102.00K USD 1 Quarter
Foreign exchange loss ForeignCurrencyTransactionGainLossUnrealized $-120.00K USD 1 Quarter
Gain on sale of marketable securities MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments $22.00K USD 1 Quarter
Increase in VAT taxes receivable, net of collection of $4,256 (2014 - $5,049) IncreaseDecreaseInValueAddedTaxReceivable $1.33M USD 1 Quarter
Increase in VAT taxes receivable, net of collection of $4,256 (2014 - $5,049) IncreaseDecreaseInValueAddedTaxReceivable $5.91M USD 1 Quarter
Increase (decrease) in other assets related to operations IncreaseDecreaseInOtherOperatingAssets $-206.00K USD 1 Quarter
Increase (decrease) in other assets related to operations IncreaseDecreaseInOtherOperatingAssets $129.00K USD 1 Quarter
(Decrease) increase in liabilities related to operations IncreaseDecreaseInOperatingLiabilities $-1.34M USD 1 Quarter
(Decrease) increase in liabilities related to operations IncreaseDecreaseInOperatingLiabilities $-1.38M USD 1 Quarter
Dividends received from Minera Santa Cruz S.A. NonCashWorkingCapitalItemsDividendReceivable $2.63M USD 1 Quarter
Cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $14.71M USD 1 Quarter
Cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $5.62M USD 1 Quarter
Stockholders Equity 21 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $441.21M USD Point-in-time
Balance StockholdersEquity $418.29M USD Point-in-time
Balance StockholdersEquity $447.92M USD Point-in-time
Balance StockholdersEquity $429.72M USD Point-in-time
Stock-based compensation StockIssuedDuringPeriodValueShareBasedCompensation $353.00K USD 1 Quarter
Stock-based compensation StockIssuedDuringPeriodValueShareBasedCompensation $409.00K USD 1 Quarter
Return of capital distribution (note 7) StockholdersEquityPaymentsOfCapitalDistribution $1.49M USD 1 Quarter
Shares issued for the settlement of accounts payable IssuanceOfStockAndWarrantsForServicesOrClaimsValue $443.00K USD 1 Quarter
Unrealized gain (loss) on available-for-sale securities, net of taxes AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax $-165.00K USD 1 Quarter
Unrealized gain (loss) on available-for-sale securities, net of taxes AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax $-124.00K USD 1 Quarter
Share repurchase (note 7) TreasuryStockValueAcquiredCostMethod $582.00K USD 1 Quarter
Share repurchase (note 7) TreasuryStockValueAcquiredCostMethod $1.80M USD Annual
Share repurchase (note 7) (in shares) TreasuryStockSharesAcquired 557,991.00 shares 1 Quarter
Share repurchase (note 7) (in shares) TreasuryStockSharesAcquired 1.90M shares Annual
Other-than-temporary impairment on marketable equity securities (note 2) OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForWritedownOfSecuritiesNetOfTax $285.00K USD 1 Quarter
Net loss NetIncomeLossAvailableToCommonStockholdersBasic $12.98M USD 1 Quarter
Net loss NetIncomeLossAvailableToCommonStockholdersBasic $6.02M USD 1 Quarter
Balance StockholdersEquity $441.21M USD Point-in-time
Balance StockholdersEquity $418.29M USD Point-in-time
Balance StockholdersEquity $447.92M USD Point-in-time
Balance StockholdersEquity $429.72M USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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