10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001558370-22-008161 |
| Period End Date | 20220331 |
| Filing Date | 20220510 |
| Fiscal Year | 2022 |
| Fiscal Period | Q1 |
| XBRL Instance | mux-20220331x10q_htm.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
62 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Common, shares issued |
CommonStockSharesIssued
|
473.69M | shares | Point-in-time |
| Common, shares issued |
CommonStockSharesIssued
|
459.19M | shares | Point-in-time |
| Common, shares outstanding |
CommonStockSharesOutstanding
|
473.69M | shares | Point-in-time |
| Common, shares outstanding |
CommonStockSharesOutstanding
|
459.19M | shares | Point-in-time |
| Cash and cash equivalents (Note 17) |
CashAndCashEquivalentsAtCarryingValue
|
$63.78M | USD | Point-in-time |
| Cash and cash equivalents (Note 17) |
CashAndCashEquivalentsAtCarryingValue
|
$54.29M | USD | Point-in-time |
| Restricted cash (Note 17) |
RestrictedCashCurrent
|
$2.55M | USD | Point-in-time |
| Restricted cash (Note 17) |
RestrictedCashCurrent
|
$2.85M | USD | Point-in-time |
| Investments (Note 5) |
EquitySecuritiesFvNi
|
$1.81M | USD | Point-in-time |
| Investments (Note 5) |
EquitySecuritiesFvNi
|
$2.42M | USD | Point-in-time |
| Receivables, prepaids and other assets (Note 6) |
ReceivablesOtherAssetsNetCurrent
|
$9.95M | USD | Point-in-time |
| Receivables, prepaids and other assets (Note 6) |
ReceivablesOtherAssetsNetCurrent
|
$10.59M | USD | Point-in-time |
| Inventories (Note 7) |
InventoryNet
|
$15.79M | USD | Point-in-time |
| Inventories (Note 7) |
InventoryNet
|
$16.29M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$85.03M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$95.30M | USD | Point-in-time |
| Mineral property interests and plant and equipment, net (Note 8) |
MineralPropertyInterestsAndPlantAndEquipmentNet
|
$342.30M | USD | Point-in-time |
| Mineral property interests and plant and equipment, net (Note 8) |
MineralPropertyInterestsAndPlantAndEquipmentNet
|
$343.03M | USD | Point-in-time |
| Investment in Minera Santa Cruz S.A. (Note 9) |
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
|
$90.96M | USD | Point-in-time |
| Investment in Minera Santa Cruz S.A. (Note 9) |
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
|
$89.84M | USD | Point-in-time |
| Inventories, long-term (Note 7) |
InventoryNoncurrent
|
$3.19M | USD | Point-in-time |
| Inventories, long-term (Note 7) |
InventoryNoncurrent
|
$2.54M | USD | Point-in-time |
| Restricted cash (Note 17) |
RestrictedCashNoncurrent
|
$3.80M | USD | Point-in-time |
| Restricted cash (Note 17) |
RestrictedCashNoncurrent
|
$3.80M | USD | Point-in-time |
| Other assets |
OtherAssetsNoncurrent
|
$620.00K | USD | Point-in-time |
| Other assets |
OtherAssetsNoncurrent
|
$711.00K | USD | Point-in-time |
| TOTAL ASSETS |
Assets
|
$535.77M | USD | Point-in-time |
| TOTAL ASSETS |
Assets
|
$525.34M | USD | Point-in-time |
| Accounts payable and accrued liabilities |
AccountsPayableAndAccruedLiabilitiesCurrent
|
$42.44M | USD | Point-in-time |
| Accounts payable and accrued liabilities |
AccountsPayableAndAccruedLiabilitiesCurrent
|
$39.62M | USD | Point-in-time |
| Flow-through share premium (Note 12) |
FlowThroughSharePremiumCurrent
|
$4.80M | USD | Point-in-time |
| Flow-through share premium (Note 12) |
FlowThroughSharePremiumCurrent
|
$1.57M | USD | Point-in-time |
| Lease liabilities |
LeaseLiabilityCurrent
|
$2.48M | USD | Point-in-time |
| Lease liabilities |
LeaseLiabilityCurrent
|
$2.90M | USD | Point-in-time |
| Reclamation and remediation liabilities (Note 11) |
AssetRetirementObligationCurrent
|
$6.53M | USD | Point-in-time |
| Reclamation and remediation liabilities (Note 11) |
AssetRetirementObligationCurrent
|
$5.76M | USD | Point-in-time |
| Other liabilities |
OtherLiabilitiesCurrent
|
$2.55M | USD | Point-in-time |
| Other liabilities |
OtherLiabilitiesCurrent
|
$2.85M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$59.10M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$52.40M | USD | Point-in-time |
| Lease liabilities |
LeaseLiabilityNonCurrent
|
$1.51M | USD | Point-in-time |
| Lease liabilities |
LeaseLiabilityNonCurrent
|
$1.27M | USD | Point-in-time |
| Debt (Note 10) |
LongTermDebt
|
$48.87M | USD | Point-in-time |
| Debt (Note 10) |
LongTermDebt
|
$63.55M | USD | Point-in-time |
| Reclamation and remediation liabilities (Note 11) |
AssetRetirementObligationsNoncurrent
|
$29.69M | USD | Point-in-time |
| Reclamation and remediation liabilities (Note 11) |
AssetRetirementObligationsNoncurrent
|
$29.56M | USD | Point-in-time |
| Other liabilities |
OtherLiabilitiesNoncurrent
|
$2.91M | USD | Point-in-time |
| Other liabilities |
OtherLiabilitiesNoncurrent
|
$2.93M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$135.40M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$156.39M | USD | Point-in-time |
| Common shares: 473,688 as of March 31, 2022 and 459,188 as of December 31, 2021 issued and outstanding (in thousands) (Note 12) |
CommonStockValue
|
$1.63B | USD | Point-in-time |
| Common shares: 473,688 as of March 31, 2022 and 459,188 as of December 31, 2021 issued and outstanding (in thousands) (Note 12) |
CommonStockValue
|
$1.62B | USD | Point-in-time |
| Non-controlling interests (Note 18) |
MinorityInterest
|
$14.78M | USD | Point-in-time |
| Non-controlling interests (Note 18) |
MinorityInterest
|
$13.04M | USD | Point-in-time |
| Accumulated deficit |
RetainedEarningsAccumulatedDeficit
|
$-1.26B | USD | Point-in-time |
| Accumulated deficit |
RetainedEarningsAccumulatedDeficit
|
$-1.24B | USD | Point-in-time |
| Total stockholders' equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$393.75M | USD | Point-in-time |
| Total stockholders' equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$389.94M | USD | Point-in-time |
| Total stockholders' equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$365.33M | USD | Point-in-time |
| Total stockholders' equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$379.38M | USD | Point-in-time |
| TOTAL LIABILITIES & SHAREHOLDERS' EQUITY |
LiabilitiesAndStockholdersEquity
|
$525.34M | USD | Point-in-time |
| TOTAL LIABILITIES & SHAREHOLDERS' EQUITY |
LiabilitiesAndStockholdersEquity
|
$535.77M | USD | Point-in-time |
Income Statement
45 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Revenue |
Revenues
|
$25.54M | USD | 1 Quarter |
| Revenue |
Revenues
|
$23.74M | USD | 1 Quarter |
| Depreciation and depletion |
CostDepreciationAmortizationAndDepletion
|
$3.71M | USD | 1 Quarter |
| Depreciation and depletion |
CostDepreciationAmortizationAndDepletion
|
$5.14M | USD | 1 Quarter |
| Gross loss |
GrossProfit
|
$-4.99M | USD | 1 Quarter |
| Gross loss |
GrossProfit
|
$-5.99M | USD | 1 Quarter |
| Advanced projects |
AdvancedProjectCost
|
$11.13M | USD | 1 Quarter |
| Advanced projects |
AdvancedProjectCost
|
$1.80M | USD | 1 Quarter |
| Exploration |
ExplorationCosts
|
$4.96M | USD | 1 Quarter |
| Exploration |
ExplorationCosts
|
$3.21M | USD | 1 Quarter |
| General and administrative |
GeneralAndAdministrativeExpense
|
$2.08M | USD | 1 Quarter |
| General and administrative |
GeneralAndAdministrativeExpense
|
$1.98M | USD | 1 Quarter |
| Loss from investment in Minera Santa Cruz S.A. (Note 9) |
IncomeLossFromEquityMethodInvestments
|
$-1.12M | USD | 1 Quarter |
| Loss from investment in Minera Santa Cruz S.A. (Note 9) |
IncomeLossFromEquityMethodInvestments
|
$-574.00K | USD | 1 Quarter |
| Depreciation |
DepreciationNonproduction
|
$142.00K | USD | 1 Quarter |
| Depreciation |
DepreciationNonproduction
|
$75.00K | USD | 1 Quarter |
| Reclamation and Remediation (Note 11) |
AssetRetirementObligationReclamationGross
|
$911.00K | USD | 1 Quarter |
| Reclamation and Remediation (Note 11) |
AssetRetirementObligationReclamationGross
|
$527.00K | USD | 1 Quarter |
| Total other operating expenses |
CostsAndExpenses
|
$18.11M | USD | 1 Quarter |
| Total other operating expenses |
CostsAndExpenses
|
$10.40M | USD | 1 Quarter |
| Operating loss |
OperatingIncomeLoss
|
$-24.11M | USD | 1 Quarter |
| Operating loss |
OperatingIncomeLoss
|
$-15.38M | USD | 1 Quarter |
| Interest and other finance expenses, net |
InterestIncomeExpenseNet
|
$-509.00K | USD | 1 Quarter |
| Interest and other finance expenses, net |
InterestIncomeExpenseNet
|
$-1.64M | USD | 1 Quarter |
| Other income (Note 4) |
OtherNonoperatingIncomeExpense
|
$1.41M | USD | 1 Quarter |
| Other income (Note 4) |
OtherNonoperatingIncomeExpense
|
$3.87M | USD | 1 Quarter |
| Total other income |
NonoperatingIncomeExpense
|
$903.00K | USD | 1 Quarter |
| Total other income |
NonoperatingIncomeExpense
|
$2.23M | USD | 1 Quarter |
| Loss before income and mining taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$-21.88M | USD | 1 Quarter |
| Loss before income and mining taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$-14.48M | USD | 1 Quarter |
| Income and mining tax recovery |
IncomeTaxExpenseBenefit
|
$-814.00K | USD | 1 Quarter |
| Income and mining tax recovery |
IncomeTaxExpenseBenefit
|
$-2.02M | USD | 1 Quarter |
| Net loss after income and mining taxes |
ProfitLoss
|
$-12.47M | USD | 1 Quarter |
| Net loss after income and mining taxes |
ProfitLoss
|
$-21.06M | USD | 1 Quarter |
| Net loss attributable to non-controlling interests (Note 18) |
NetIncomeLossAttributableToNoncontrollingInterest
|
$-1.74M | USD | 1 Quarter |
| Net loss and comprehensive loss attributable to McEwen shareholders |
NetIncomeLoss
|
$-12.47M | USD | 1 Quarter |
| Net loss and comprehensive loss attributable to McEwen shareholders |
NetIncomeLoss
|
$-19.33M | USD | 1 Quarter |
| Basic (in dollars per share) |
EarningsPerShareBasic
|
$-0.04 | USD | 1 Quarter |
| Basic (in dollars per share) |
EarningsPerShareBasic
|
$-0.03 | USD | 1 Quarter |
| Diluted (in dollars per share) |
EarningsPerShareDiluted
|
$-0.03 | USD | 1 Quarter |
| Diluted (in dollars per share) |
EarningsPerShareDiluted
|
$-0.04 | USD | 1 Quarter |
| Basic (in shares) |
WeightedAverageNumberOfSharesOutstandingBasic
|
441.79M | shares | 1 Quarter |
| Basic (in shares) |
WeightedAverageNumberOfSharesOutstandingBasic
|
464.02M | shares | 1 Quarter |
| Diluted (in shares) |
WeightedAverageNumberOfDilutedSharesOutstanding
|
464.02M | shares | 1 Quarter |
| Diluted (in shares) |
WeightedAverageNumberOfDilutedSharesOutstanding
|
441.79M | shares | 1 Quarter |
Cash Flow Statement
49 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net loss |
ProfitLoss
|
$-12.47M | USD | 1 Quarter |
| Net loss |
ProfitLoss
|
$-21.06M | USD | 1 Quarter |
| Loss from investment in Minera Santa Cruz S.A., net of amortization (Note 9) |
IncomeLossFromEquityMethodInvestments
|
$-1.12M | USD | 1 Quarter |
| Loss from investment in Minera Santa Cruz S.A., net of amortization (Note 9) |
IncomeLossFromEquityMethodInvestments
|
$-574.00K | USD | 1 Quarter |
| Depreciation and amortization |
MineralPropertyInterestsAndAssetRetirementObligationsAmortization
|
$3.61M | USD | 1 Quarter |
| Depreciation and amortization |
MineralPropertyInterestsAndAssetRetirementObligationsAmortization
|
$4.66M | USD | 1 Quarter |
| Gain on investments (Note 5) |
GainLossOnSaleOfInvestments
|
$618.00K | USD | 1 Quarter |
| Unrealized foreign exchange loss and adjustment to estimate (Note 11) |
UnrealizedForeignExchangeGainLossAssetRetirementObligations
|
$-195.00K | USD | 1 Quarter |
| Unrealized foreign exchange loss and adjustment to estimate (Note 11) |
UnrealizedForeignExchangeGainLossAssetRetirementObligations
|
$-152.00K | USD | 1 Quarter |
| Income and mining tax (recovery) |
IncomeTaxCreditsAndAdjustments
|
$-814.00K | USD | 1 Quarter |
| Income and mining tax (recovery) |
IncomeTaxCreditsAndAdjustments
|
$-2.02M | USD | 1 Quarter |
| Stock-based compensation |
EmployeeBenefitsAndShareBasedCompensationNoncash
|
$183.00K | USD | 1 Quarter |
| Stock-based compensation |
EmployeeBenefitsAndShareBasedCompensationNoncash
|
$227.00K | USD | 1 Quarter |
| Reclamation and remediation (Note 11) |
AccretionExpenseIncludingAssetRetirementObligations
|
$527.00K | USD | 1 Quarter |
| Reclamation and remediation (Note 11) |
AccretionExpenseIncludingAssetRetirementObligations
|
$911.00K | USD | 1 Quarter |
| Increase in other assets related to operations |
IncreaseDecreaseInOtherOperatingAssets
|
$763.00K | USD | 1 Quarter |
| Increase in other assets related to operations |
IncreaseDecreaseInOtherOperatingAssets
|
$1.56M | USD | 1 Quarter |
| (Decrease) in liabilities related to operations |
IncreaseDecreaseInOperatingLiabilities
|
$2.01M | USD | 1 Quarter |
| (Decrease) in liabilities related to operations |
IncreaseDecreaseInOperatingLiabilities
|
$-626.00K | USD | 1 Quarter |
| Cash used in operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$-15.62M | USD | 1 Quarter |
| Cash used in operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$-10.14M | USD | 1 Quarter |
| Net additions to mineral property interests and plant and equipment |
PaymentsToAcquireMiningAssets
|
$4.04M | USD | 1 Quarter |
| Net additions to mineral property interests and plant and equipment |
PaymentsToAcquireMiningAssets
|
$10.09M | USD | 1 Quarter |
| Dividends received from Minera Santa Cruz S.A. (Note 9) |
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
|
$4.98M | USD | 1 Quarter |
| Cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-4.04M | USD | 1 Quarter |
| Cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-5.10M | USD | 1 Quarter |
| Proceeds from sale of shares, net of issuance costs (Note 12) |
ProceedsFromIssuanceOfCommonStock
|
$29.88M | USD | 1 Quarter |
| Sale of flow-through common shares, net of issuance costs (Note 12) |
ProceedsFromIssuanceOfFlowThroughCommonStock
|
$11.97M | USD | 1 Quarter |
| Sale of flow-through common shares, net of issuance costs (Note 12) |
ProceedsFromIssuanceOfFlowThroughCommonStock
|
$14.38M | USD | 1 Quarter |
| Proceeds from promissory note (Note 10 and Note 14) |
ProceedsFromIssuanceOfSubordinatedLongTermDebt
|
$15.00M | USD | 1 Quarter |
| Subscription proceeds received in advance |
SubscriptionProceedsReceivedInAdvance
|
$300.00K | USD | 1 Quarter |
| Payment of finance lease obligations |
FinanceLeasePrincipalPayments
|
$215.00K | USD | 1 Quarter |
| Payment of finance lease obligations |
FinanceLeasePrincipalPayments
|
$8.00K | USD | 1 Quarter |
| Cash provided by financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$41.83M | USD | 1 Quarter |
| Cash provided by financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$29.46M | USD | 1 Quarter |
| Increase in cash, cash equivalents and restricted cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$9.80M | USD | 1 Quarter |
| Increase in cash, cash equivalents and restricted cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$26.59M | USD | 1 Quarter |
| Cash, cash equivalents and restricted cash, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$70.43M | USD | Point-in-time |
| Cash, cash equivalents and restricted cash, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$24.44M | USD | Point-in-time |
| Cash, cash equivalents and restricted cash, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$60.63M | USD | Point-in-time |
| Cash, cash equivalents and restricted cash, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$51.03M | USD | Point-in-time |
| Cash, cash equivalents and restricted cash, end of period (Note 17) |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$70.43M | USD | Point-in-time |
| Cash, cash equivalents and restricted cash, end of period (Note 17) |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$24.44M | USD | Point-in-time |
| Cash, cash equivalents and restricted cash, end of period (Note 17) |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$60.63M | USD | Point-in-time |
| Cash, cash equivalents and restricted cash, end of period (Note 17) |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$51.03M | USD | Point-in-time |
| Interest paid |
InterestPaidNet
|
$1.20M | USD | 1 Quarter |
| Interest paid |
InterestPaidNet
|
$1.22M | USD | 1 Quarter |
| Interest received |
InterestIncomeOther
|
$7.00K | USD | 1 Quarter |
| Interest received |
InterestIncomeOther
|
$6.00K | USD | 1 Quarter |
Stockholders Equity
14 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$393.75M | USD | Point-in-time |
| Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$389.94M | USD | Point-in-time |
| Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$365.33M | USD | Point-in-time |
| Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$379.38M | USD | Point-in-time |
| Stock-based compensation |
StockIssuedDuringPeriodValueShareBasedCompensation
|
$227.00K | USD | 1 Quarter |
| Stock-based compensation |
StockIssuedDuringPeriodValueShareBasedCompensation
|
$183.00K | USD | 1 Quarter |
| Sale of shares for cash |
StockholdersEquityPaymentsOfCapitalDistribution
|
$-29.88M | USD | 1 Quarter |
| Sale of flow-through common stock |
StockIssuedDuringPeriodValueNewIssues
|
$14.40M | USD | Point-in-time |
| Net loss |
ProfitLoss
|
$-12.47M | USD | 1 Quarter |
| Net loss |
ProfitLoss
|
$-21.06M | USD | 1 Quarter |
| Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$393.75M | USD | Point-in-time |
| Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$389.94M | USD | Point-in-time |
| Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$365.33M | USD | Point-in-time |
| Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$379.38M | USD | Point-in-time |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.