McEwen Inc.
For the period ended Dec 31, 2024. Filed Mar 14, 2025.
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FY2024 · Filed Mar 14, 2025
Contents
Commitments and Contingencies
As of December 31, 2024, we have the following consolidated contractual obligations:
| | | | | | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · · · · Payments due by period | ||||||||||||||||||
| · · 2025 · · 2026 · · 2027 · · 2028 · · Thereafter · · · Total | ||||||||||||||||||
| Mining and surface rights | | $1,711 | | $1,705 | | $1,669 | | $536 | | $539 | | $6,160 | ||||||
| Reclamation costs(1) | | | 4,556 | | | 5,748 | | | 11,342 | | | 9,174 | | | 26,646 | | | 57,466 |
| Lease obligations (Note 10) | | | 973 | | | 781 | | | 307 | | | 275 | | | 183 | | | 2,519 |
| Total | | $7,240 | | $8,234 | | $13,318 | | $9,985 | | $27,368 | | $66,145 | ||||||
| (1) | Amounts presented represent the undiscounted uninflated future payments. |
With respect to reclamation cost commitments disclosed above, we have surety bonds outstanding to provide bonding for our obligations in the United States and Canada. These surety bonds are available for draw down in the event we do not perform our reclamation obligations. If the bond is drawn, we would be obligated to reimburse the surety. When the specific reclamation requirements are met, the beneficiary of the surety bonds will cancel and/or return the instrument to the issuing entity. As of December 31, 2024, no additional liability has been recognized for our surety bonds of $44.8 million.
Lease obligations disclosed above include long term leases covering office space, exploration expenditures, option payments and option payments on properties.
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