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10-Q Filing

MCEWEN INC. CIK: 314203 Q1 2017
Filing Information
Form Type 10-Q
Accession Number 0001558370-17-003444
Period End Date 20170331
Filing Date 20170504
Fiscal Year 2017
Fiscal Period Q1
XBRL Instance mux-20170331.xml
Filing Contents
Balance Sheet 58 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
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $34.62M USD Point-in-time
Common, shares issued CommonStockSharesIssued 299.59M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $37.44M USD Point-in-time
Common, shares issued CommonStockSharesIssued 299.57M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $28.89M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $25.87M USD Point-in-time
Common, shares outstanding CommonStockSharesOutstanding 299.59M shares Point-in-time
Investments (note 2) AvailableForSaleSecuritiesEquitySecurities $15.33M USD Point-in-time
Investments (note 2) AvailableForSaleSecuritiesEquitySecurities $8.54M USD Point-in-time
Common, shares outstanding CommonStockSharesOutstanding 299.57M shares Point-in-time
Value added taxes receivable ValueAddedTaxReceivableCurrent $6.34M USD Point-in-time
Value added taxes receivable ValueAddedTaxReceivableCurrent $4.30M USD Point-in-time
Inventories (note 3) InventoryNet $29.45M USD Point-in-time
Inventories (note 3) InventoryNet $26.62M USD Point-in-time
Other current assets OtherAssetsCurrent $1.67M USD Point-in-time
Other current assets OtherAssetsCurrent $1.70M USD Point-in-time
Total current assets AssetsCurrent $78.57M USD Point-in-time
Total current assets AssetsCurrent $81.72M USD Point-in-time
Mineral property interests (note 4) MineralPropertiesNet $242.11M USD Point-in-time
Mineral property interests (note 4) MineralPropertiesNet $242.64M USD Point-in-time
Investment in Minera Santa Cruz S.A. (note 5) InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures $159.99M USD Point-in-time
Investment in Minera Santa Cruz S.A. (note 5) InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures $162.32M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $14.26M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $14.25M USD Point-in-time
Other assets (note 13) OtherAssetsNoncurrent $1.32M USD Point-in-time
Other assets (note 13) OtherAssetsNoncurrent $532.00K USD Point-in-time
TOTAL ASSETS Assets $499.38M USD Point-in-time
TOTAL ASSETS Assets $498.32M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $22.84M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $20.04M USD Point-in-time
Current portion of asset retirement obligation (note 6) AssetRetirementObligationCurrent $537.00K USD Point-in-time
Current portion of asset retirement obligation (note 6) AssetRetirementObligationCurrent $530.00K USD Point-in-time
Total current liabilities LiabilitiesCurrent $20.58M USD Point-in-time
Total current liabilities LiabilitiesCurrent $23.37M USD Point-in-time
Asset retirement obligation, less current portion (note 6) AssetRetirementObligationsNoncurrent $9.31M USD Point-in-time
Asset retirement obligation, less current portion (note 6) AssetRetirementObligationsNoncurrent $9.41M USD Point-in-time
Deferred income tax liability (note 7) DeferredTaxLiabilitiesNoncurrent $22.12M USD Point-in-time
Deferred income tax liability (note 7) DeferredTaxLiabilitiesNoncurrent $23.66M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $1.73M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $1.71M USD Point-in-time
Total liabilities Liabilities $56.60M USD Point-in-time
Total liabilities Liabilities $55.28M USD Point-in-time
Common stock, no par value, 500,000 shares authorized (in thousands); Common: 299,590 as of March 31, 2017 and 299,570 as of December 31, 2016 issued and outstanding (in thousands) CommonStockValue $1.36B USD Point-in-time
Common stock, no par value, 500,000 shares authorized (in thousands); Common: 299,590 as of March 31, 2017 and 299,570 as of December 31, 2016 issued and outstanding (in thousands) CommonStockValue $1.36B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-918.97M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-921.99M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $1.67M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $5.54M USD Point-in-time
Total shareholders' equity StockholdersEquity $429.72M USD Point-in-time
Total shareholders' equity StockholdersEquity $442.77M USD Point-in-time
Total shareholders' equity StockholdersEquity $443.04M USD Point-in-time
Total shareholders' equity StockholdersEquity $418.29M USD Point-in-time
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $499.38M USD Point-in-time
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $498.32M USD Point-in-time
Income Statement 54 line items
Line Item Tag Value Unit Period
Gold and silver sales RevenueMineralSales $21.19M USD 1 Quarter
Gold and silver sales RevenueMineralSales $14.83M USD 1 Quarter
Total Revenue Revenues $14.83M USD 1 Quarter
Total Revenue Revenues $21.19M USD 1 Quarter
Production costs applicable to sales CostOfGoodsSold $6.98M USD 1 Quarter
Production costs applicable to sales CostOfGoodsSold $9.07M USD 1 Quarter
Mine development costs ConstructionAndDevelopmentCosts $1.11M USD 1 Quarter
Mine development costs ConstructionAndDevelopmentCosts $698.00K USD 1 Quarter
Exploration costs ExplorationExpenseMining $1.74M USD 1 Quarter
Exploration costs ExplorationExpenseMining $8.44M USD 1 Quarter
Property holding costs CarryingCostsPropertyAndExplorationRights $1.19M USD 1 Quarter
Property holding costs CarryingCostsPropertyAndExplorationRights $1.15M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $2.77M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $4.29M USD 1 Quarter
Depreciation DepreciationDepletionAndAmortization $327.00K USD 1 Quarter
Depreciation DepreciationDepletionAndAmortization $239.00K USD 1 Quarter
Revision of estimates and accretion of as reclamation obligations (note 6) AssetRetirementObligationReclamationGross $124.00K USD 1 Quarter
Revision of estimates and accretion of as reclamation obligations (note 6) AssetRetirementObligationReclamationGross $105.00K USD 1 Quarter
Income from investment in Minera Santa Cruz S.A., net of amortization (note 5) IncomeLossFromEquityMethodInvestments $190.00K USD 1 Quarter
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 $22.27M USD 1 Quarter
Operating (loss) income OperatingIncomeLoss $-7.43M USD 1 Quarter
Operating (loss) income OperatingIncomeLoss $10.37M USD 1 Quarter
Interest income (expense) and other income (expense) InterestIncomeExpenseNet $-68.00K USD 1 Quarter
Interest income (expense) and other income (expense) InterestIncomeExpenseNet $228.00K USD 1 Quarter
Gain on sale of assets GainLossOnDispositionOfAssets1 $11.00K 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
Unrealized gain on derivatives (note 2) DerivativeGainOnDerivative $1.79M USD 1 Quarter
Foreign currency gain ForeignCurrencyTransactionGainLossBeforeTax $783.00K USD 1 Quarter
Foreign currency gain ForeignCurrencyTransactionGainLossBeforeTax $25.00K USD 1 Quarter
Total other income NonoperatingIncomeExpense $748.00K USD 1 Quarter
Total other income NonoperatingIncomeExpense $1.76M USD 1 Quarter
(Loss) Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $11.12M USD 1 Quarter
(Loss) Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-5.67M USD 1 Quarter
Income taxes recovery (note 7) IncomeTaxExpenseBenefit $-1.87M USD 1 Quarter
Income taxes recovery (note 7) IncomeTaxExpenseBenefit $-2.66M USD 1 Quarter
Net (loss) income NetIncomeLossAvailableToCommonStockholdersBasic $12.98M USD 1 Quarter
Net (loss) income NetIncomeLossAvailableToCommonStockholdersBasic $-3.02M USD 1 Quarter
Unrealized gain (loss) on available-for-sale securities, net of taxes OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent $3.88M USD 1 Quarter
Unrealized gain (loss) on available-for-sale securities, net of taxes OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent $-124.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $12.86M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $857.00K USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-0.01 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.04 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $-0.01 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.04 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 299.57M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 298.24M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 298.55M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 299.57M shares 1 Quarter
Return of capital distribution declared per common share (note 8) ReturnOfCapitalDistributionDeclaredPerCommonShare $0.01 USD 1 Quarter
Return of capital distribution declared per common share (note 8) ReturnOfCapitalDistributionDeclaredPerCommonShare $0.01 USD 1 Quarter
Cash Flow Statement 67 line items
Line Item Tag Value Unit Period
Collection of VAT taxes receivable CollectionOfValueAddedTaxesReceivable $448.00K USD 1 Quarter
Collection of VAT taxes receivable CollectionOfValueAddedTaxesReceivable $6.77M USD 1 Quarter
Cash paid to suppliers and employees PaymentsToSuppliersAndEmployees $8.46M USD 1 Quarter
Cash paid to suppliers and employees PaymentsToSuppliersAndEmployees $24.24M USD 1 Quarter
Cash received from gold and silver sales ProceedsFromCustomers $20.32M USD 1 Quarter
Cash received from gold and silver sales ProceedsFromCustomers $14.83M USD 1 Quarter
Dividends received from Miners Santa Cruz S.A (note 5) ProceedsFromDividendsReceived $2.63M USD 1 Quarter
Dividends received from Miners Santa Cruz S.A (note 5) ProceedsFromDividendsReceived $2.52M USD 1 Quarter
Interest received ProceedsFromInterestReceived $34.00K USD 1 Quarter
Interest received ProceedsFromInterestReceived $220.00K USD 1 Quarter
Cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $14.71M USD 1 Quarter
Cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $-6.85M USD 1 Quarter
Acquisition of mineral property interests PaymentsToAcquireMiningAssets $450.00K USD 1 Quarter
Additions to property and equipment PaymentsToAcquirePropertyPlantAndEquipment $145.00K USD 1 Quarter
Additions to property and equipment PaymentsToAcquirePropertyPlantAndEquipment $350.00K USD 1 Quarter
Proceeds from disposal of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $36.00K USD 1 Quarter
Cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-314.00K USD 1 Quarter
Cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-595.00K USD 1 Quarter
Repayment of short-term bank indebtedness ProceedsFromRepaymentsOfLinesOfCredit $-3.40M USD 1 Quarter
Return of capital distribution (note 8) PaymentsOfCapitalDistribution $1.50M USD 1 Quarter
Return of capital distribution (note 8) PaymentsOfCapitalDistribution $1.49M USD 1 Quarter
Share repurchase PaymentsForRepurchaseOfCommonStock $582.00K USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $47.00K USD 1 Quarter
Cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-5.47M USD 1 Quarter
Cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-1.45M USD 1 Quarter
Effect of exchange rate change on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations $102.00K USD 1 Quarter
Effect of exchange rate change on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations $65.00K USD 1 Quarter
(Decrease) increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-8.55M USD 1 Quarter
(Decrease) increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $8.75M 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 $37.44M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $28.89M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $25.87M 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 $37.44M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $28.89M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $25.87M USD Point-in-time
Net income (loss) NetIncomeLossAvailableToCommonStockholdersBasic $12.98M USD 1 Quarter
Net income (loss) NetIncomeLossAvailableToCommonStockholdersBasic $-3.02M USD 1 Quarter
Income from investment in Minera Santa Cruz S.A., net of amortization (note 5) IncomeLossFromEquityMethodInvestments $190.00K USD 1 Quarter
Income from investment in Minera Santa Cruz S.A., net of amortization (note 5) IncomeLossFromEquityMethodInvestments $4.96M USD 1 Quarter
Other-than-temporary impairment on marketable equity securities (note 2) OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities $285.00K USD 1 Quarter
Gain on disposal of fixed assets GainLossOnSaleOfPropertyPlantEquipment $-11.00K USD 1 Quarter
Recovery of deferred income taxes (note 7) DeferredIncomeTaxExpenseBenefit $-1.87M USD 1 Quarter
Recovery of deferred income taxes (note 7) DeferredIncomeTaxExpenseBenefit $-2.66M USD 1 Quarter
Gain on sale of marketable securities MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments $22.00K USD 1 Quarter
Stock-based compensation StockOptionPlanExpense $353.00K USD 1 Quarter
Stock-based compensation StockOptionPlanExpense $330.00K USD 1 Quarter
Depreciation DepreciationDepletionAndAmortization $327.00K USD 1 Quarter
Depreciation DepreciationDepletionAndAmortization $239.00K USD 1 Quarter
Accretion of asset retirement obligation AssetRetirementObligationReclamationGross $124.00K USD 1 Quarter
Accretion of asset retirement obligation AssetRetirementObligationReclamationGross $105.00K USD 1 Quarter
Amortization of mineral property interests and asset retirement obligations MineralPropertyInterestsAndAssetRetirementObligationsAmortization $533.00K USD 1 Quarter
Amortization of mineral property interests and asset retirement obligations MineralPropertyInterestsAndAssetRetirementObligationsAmortization $322.00K USD 1 Quarter
Foreign exchange gain ForeignCurrencyTransactionGainLossUnrealized $102.00K USD 1 Quarter
Foreign exchange gain ForeignCurrencyTransactionGainLossUnrealized $65.00K USD 1 Quarter
Unrealized gain on derivative instruments (note 2) DerivativeGainOnDerivative $1.79M USD 1 Quarter
(Increase) decrease in VAT taxes receivable, net of collection of $448 (2016 - $6,771) IncreaseDecreaseInValueAddedTaxReceivable $-2.04M USD 1 Quarter
(Increase) decrease in VAT taxes receivable, net of collection of $448 (2016 - $6,771) 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 $3.65M USD 1 Quarter
Increase (decrease) in liabilities related to operations IncreaseDecreaseInOperatingLiabilities $2.76M USD 1 Quarter
Increase (decrease) in liabilities related to operations IncreaseDecreaseInOperatingLiabilities $-1.38M USD 1 Quarter
Dividends received from Minera Santa Cruz S.A ProceedsFromDividendsReceived $2.63M USD 1 Quarter
Dividends received from Minera Santa Cruz S.A ProceedsFromDividendsReceived $2.52M USD 1 Quarter
Cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $14.71M USD 1 Quarter
Cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $-6.85M USD 1 Quarter
Stockholders Equity 19 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $429.72M USD Point-in-time
Balance StockholdersEquity $442.77M USD Point-in-time
Balance StockholdersEquity $443.04M USD Point-in-time
Balance StockholdersEquity $418.29M USD Point-in-time
Stock-based compensation StockIssuedDuringPeriodValueShareBasedCompensation $353.00K USD 1 Quarter
Stock-based compensation StockIssuedDuringPeriodValueShareBasedCompensation $330.00K USD 1 Quarter
Return of capital distribution (note 8) StockholdersEquityPaymentsOfCapitalDistribution $1.49M USD 1 Quarter
Return of capital distribution (note 8) StockholdersEquityPaymentsOfCapitalDistribution $1.50M USD 1 Quarter
Exercise of stock options (note 8) StockIssuedDuringPeriodValueStockOptionsExercised $47.00K USD 1 Quarter
Share repurchase TreasuryStockValueAcquiredCostMethod $582.00K USD 1 Quarter
Other-than-temporary impairment on marketable equity securities (note 2) OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForWritedownOfSecuritiesNetOfTax $285.00K USD 1 Quarter
Unrealized gain (loss) on available-for-sale securities, net of taxes (note 2) AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax $3.88M USD 1 Quarter
Unrealized gain (loss) on available-for-sale securities, net of taxes (note 2) AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax $-124.00K USD 1 Quarter
Net income NetIncomeLossAvailableToCommonStockholdersBasic $12.98M USD 1 Quarter
Net income NetIncomeLossAvailableToCommonStockholdersBasic $-3.02M USD 1 Quarter
Balance StockholdersEquity $429.72M USD Point-in-time
Balance StockholdersEquity $442.77M USD Point-in-time
Balance StockholdersEquity $443.04M USD Point-in-time
Balance StockholdersEquity $418.29M USD Point-in-time

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

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