McEwen Mining Inc
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
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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.
Jun 30, 2024 · Filed Aug 7, 2024
MUX$16.23+4.8%Stored close · as of Nov 9, 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 LOSS**(UNAUDITED)**
(in thousands of U.S. dollars, except per share)
| | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| · Three months ended June 30, · · Six months ended June 30, | |||||||||||
| · 2024 · 2023 · 2024 · 2023 | |||||||||||
| Revenue from gold and silver sales | $47,476 | | $34,395 | | $88,704 | | $69,147 | ||||
| Production costs applicable to sales | (32,066) | | (29,570) | | (57,176) | | (52,983) | ||||
| Depreciation and depletion | | (4,652) | | | (8,293) | | | (14,759) | | | (15,189) |
| Gross profit (loss) | | 10,758 | | | (3,468) | | | 16,769 | | | 975 |
| | | | | | | | | | | | |
| OTHER OPERATING EXPENSES: | | | | | | | | | | | |
| Advanced projects - Los Azules | — | | | (28,524) | | | — | | | (60,405) | |
| Advanced projects - Other | | (2,990) | | | (1,275) | | | (5,444) | | | (2,954) |
| Exploration | | (4,984) | | | (5,852) | | | (8,855) | | | (11,752) |
| General and administrative | (4,461) | | (2,050) | | (8,534) | | (5,491) | ||||
| Loss from investment in McEwen Copper Inc. (Note 9) | | (16,816) | | | — | | | (34,828) | | | — |
| Income (loss) from investment in Minera Santa Cruz S.A. (Note 9) | 4,701 | | (914) | | 5,979 | | (4,375) | ||||
| Depreciation | (158) | | (309) | | (329) | | (591) | ||||
| Reclamation and remediation (Note 11) | 3 | | | (620) | | (687) | | | (1,250) | ||
| | (24,705) | | | (39,544) | | | (52,698) | | (86,818) | ||
| Operating loss | (13,947) | | | (43,012) | | (35,929) | | (85,843) | |||
| | | | | | | | | | | | |
| OTHER INCOME (EXPENSE): | | | | | | | | | | | |
| Interest and other finance income (expense), net | (1,734) | | 19,577 | | (2,604) | | 28,041 | ||||
| Other income (expense) (Note 3) | | 310 | | (21,875) | | 222 | | (24,454) | |||
| Total other income (expense) | (1,424) | | (2,298) | | (2,382) | | 3,587 | ||||
| Loss before income and mining taxes | | (15,371) | | | (45,310) | | | (38,311) | | | (82,256) |
| Income and mining tax recovery | | 2,376 | | | 2,049 | | | 4,933 | | | 2,585 |
| Net loss after income and mining taxes | | (12,995) | | | (43,261) | | | (33,378) | | | (79,671) |
| Net loss attributable to non-controlling interests | | — | | | 21,634 | | | — | | | 14,968 |
| Net loss and comprehensive loss attributable to McEwen shareholders | $(12,995) | | $(21,627) | | $(33,378) | | $(64,703) | ||||
| | | | | | | | | | | | |
| Net loss per share (Note 13): | | | | | | | | | | | |
| Basic and diluted | $(0.26) | | $(0.46) | | $(0.67) | | $(1.36) | ||||
| Weighted average common shares outstanding (thousands) (Note 13): | | | | | | | | | | | |
| Basic and diluted | | 49,718 | | | 47,428 | | | 49,580 | | | 47,428 |
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