McEwen Inc.
For the period ended Sep 30, 2025. Filed Nov 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 5, 2025
MUX$13.55-16.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Financial Statements
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)****(UNAUDITED)
(in thousands of U.S. dollars, except per share, and shares)
| | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| · Three months ended September 30, · · Nine months ended September 30, | |||||||||||
| · 2025 · · 2024 · 2025 · 2024 | |||||||||||
| Revenue from gold and silver sales | $50,534 | | $52,250 | | $132,930 | | $140,954 | ||||
| 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 INCOME (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) | ||
| Loss from investment in McEwen Copper Inc. (Note 9) | | (4,275) | | | (1,852) | | | (19,831) | | | (36,680) |
| Income (loss) from investment in Minera Santa Cruz S.A. (Note 9) | | 3,469 | | | (1,228) | | 7,575 | | 4,751 | ||
| Depreciation | | (158) | | | (156) | | (475) | | (485) | ||
| Reclamation and remediation | | (778) | | | (729) | | (2,310) | | | (1,416) | |
| | | (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) | ||
| 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 loss per share (Note 13): | | | | | | | | | | | |
| Basic and diluted | $(0.01) | | $(0.04) | | $(0.07) | | $(0.70) | ||||
| Weighted average common shares outstanding (thousands) (Note 13): | | | | | | | | | | | |
| Basic and diluted | | 54,170 | | | 51,953 | | | 53,808 | | | 50,380 |
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