McEwen Mining Inc
(NYSE:MUX)

McEwen Mining Inc. engages in the exploration, development, production, and sale of gold and silver deposits in the United States, Canada, Mexico, and Argentina. The company also explores for copper deposits. The company primarily owns a 100% interest in the Gold Bar mine in Eureka County, Nevada; t...

Website: http://www.mcewenmining.com

Founded: 1979

Full Time Employees: 448

Sector: Basic Materials

Industry: Other Precious Metals & Mining

Materials

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At a glance:

Bull Thesis:

Bear Thesis:

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Income Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-09-30	2012-06-30	2012-03-31	2011-09-30	2011-06-30	2011-03-31	2010-09-30	2010-06-30	2009-09-30	2009-06-30	2009-03-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31

revenue from gold and silver sales	74,049,000	64,623,000	50,534,000	46,700,000	35,696,000	33,523,000	52,250,000	47,476,000	41,228,000	58,680,000	38,404,000	34,395,000	34,752,000	44,020,000	10,208,000	30,647,000	25,542,000	37,129,000	40,706,000	23,740,000	27,703,000	27,395,000	18,291,000	31,400,000	32,362,000	32,691,000	36,383,000
production costs applicable to sales	-35,644,000	-40,189,000	-35,233,000	-27,733,000	-19,605,000	-26,455,000	-29,682,000	-32,066,000	-25,110,000	-39,187,000	-26,468,000	-29,570,000	-23,413,000	-20,321,000	-20,172,000	-22,943,000	-27,824,000	-30,760,000	-31,132,000	-23,589,000	-34,560,000	-23,526,000	-22,354,000	-28,387,000	-23,848,000	-23,584,000	24,699,000	13,168,000	22,359,000	20,320,000	24,256,000	26,394,000	20,987,000	8,649,000	8,560,000	6,984,000	6,894,000	6,409,000	5,763,000	9,067,000	5,695,000	11,170,000	7,288,000	10,454,000	10,997,000	10,900,000	8,527,000	7,907,000	8,278,000	10,593,000	119,000
depreciation and depletion	-6,910,000	-7,037,000	-7,485,000	-6,686,000	-6,021,000	-6,705,000	-8,765,000	-4,652,000	-10,107,000	-5,851,000	-8,181,000	-8,293,000	-6,896,000	-8,207,000	-4,313,000	-3,469,000	-3,712,000	-6,025,000	-5,515,000	-5,137,000	-6,830,000	-4,570,000	-4,812,000	-6,698,000	-7,252,000	-7,488,000	7,007,000
gross profit	31,495,000	17,397,000	7,816,000	12,281,000	10,070,000	363,000	13,803,000	10,758,000	6,011,000	13,642,000	3,755,000	-3,468,000	4,443,000	-64,000	1,503,000	4,235,000		344,000	4,059,000		-13,687,000	-701,000	-8,875,000	-3,685,000	1,262,000	1,619,000	4,677,000	2,472,000	4,103,000	6,576,000	9,923,000
yoy	212.76%	4692.56%	-43.37%	14.16%	67.53%	-97.34%	267.59%	-410.21%	35.29%	-21415.63%	149.83%	-181.89%		-118.60%	-62.97%			-149.07%	-145.74%		-1184.55%	-143.30%	-289.76%	-249.07%	-69.24%	-75.38%	-52.87%
qoq	81.04%	122.58%	-36.36%	21.96%	2674.10%	-97.37%	28.30%	78.97%	-55.94%	263.30%	-208.28%	-178.06%	-7042.19%	-104.26%	-64.51%			-91.53%			1852.50%	-92.10%	140.84%	-392.00%	-22.05%	-65.38%	89.20%	-39.75%	-37.61%	-33.73%
gross margin %	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	-0.31%	5.78%	Infinity%	NaN%	Infinity%	Infinity%	NaN%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	15.81%	Infinity%	Infinity%	29.03%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%
other operating income
advanced projects	-4,779,000	-3,724,000	-1,658,000	-895,000	-1,684,000												-11,135,000	-4,013,000	-823,000	-1,799,000	-2,217,000	-4,027,000	-2,887,000	-2,550,000	-2,639,000	-2,140,000	2,095,000
exploration	-5,459,000	-6,345,000	-6,778,000	-5,392,000	-3,681,000	-2,362,000	-5,329,000	-4,984,000	-3,871,000	-3,741,000	-4,674,000	-5,852,000	-5,900,000	-3,541,000	-3,929,000	-4,293,000	-3,210,000	-6,245,000	-6,916,000	-4,956,000	-4,100,000	-4,423,000	-3,548,000	-3,790,000	-14,027,000	-13,695,000	5,872,000	3,789,000	6,081,000	8,160,000	9,107,000						2,364,000	2,166,000	1,689,000
general and administrative	-9,464,000	-12,211,000	-6,069,000	-5,046,000	-3,369,000	-6,493,000	-2,138,000	-4,461,000	-4,073,000	-6,238,000	-3,720,000	-2,050,000	-3,441,000	-3,101,000	-4,352,000	-2,456,000	-1,981,000	-3,467,000	-2,834,000	-2,083,000	-2,365,000	-2,532,000	-2,240,000	-2,064,000	-4,707,000	-2,645,000	3,172,000	3,871,000	7,586,000	4,576,000	5,814,000		3,276,250	4,734,000	4,078,000	4,293,000	4,133,000	3,233,000	2,600,000	2,768,000	3,284,000	2,276,000	3,277,000	3,208,000		3,213,000	3,227,000	2,496,000	4,217,000	4,192,000	4,119,000	4,089,000	4,727,000	3,460,000	2,351,000	1,376,000	1,098,000	1,245,000	1,205,306	1,670,482	1,059,702	1,237,000	1,425,269	1,795,350	1,408,959.25	2,423,004	1,452,422	892,724
income from equity method investments	30,338,000
depreciation	-167,000	-145,000	-158,000	-167,000	-150,000	-149,000	-156,000	-158,000	-171,000	-222,000	-325,000	-309,000	-282,000	-239,000	-214,000	-138,000	-142,000	-94,000	-75,000	-75,000	-88,000	-88,000	-114,000	-115,000	-149,000	-96,000	169,000	152,000	266,000	279,000	273,000	360,000	328,000	316,000	482,000	327,000	360,000	312,000	258,000	239,000	251,000	211,000	208,000	272,000	239,000	229,000	225,000	204,000	245,000	282,000	266,000	263,000	221,000	179,000	139,000	120,000	101,000	109,000	163,246	162,183	160,447	156,618	162,708	144,304	49,372.25	77,147	72,926	47,416
reclamation and remediation	-722,000	-707,000	-778,000	-774,000	-758,000	-638,000	-729,000	3,000	-690,000	-663,000	-760,000	-620,000	-630,000	-786,000	-526,000	-1,506,000	-527,000
operating income	41,242,000	22,099,000	-8,431,000	-3,375,000	-7,640,000	-14,546,000	-97,000	-13,947,000	-21,982,000	-47,380,000	-28,840,000	-43,012,000	-42,831,000	-39,182,000	-15,577,000	-16,569,000	-24,109,000	-17,434,000	-8,947,000	-15,384,000	-22,620,000	-10,075,000	-21,134,000	-99,345,000	-24,387,000	-17,780,000	-11,195,000	-10,495,000	-18,206,000	-15,206,000	-8,723,000	-4,407,000	-9,208,000	-6,768,000	-2,618,000	-7,433,000	-4,797,000	3,045,000	6,729,000	10,370,000	-26,706,000	1,891,000		5,168,000
yoy	-639.82%	-251.92%	8591.75%	-75.80%	-65.24%	-69.30%	-99.66%	-67.57%	-48.68%	20.92%	85.14%	159.59%	77.66%	124.74%	74.10%	7.70%	6.58%	73.04%	-57.67%	-84.51%	-7.25%	-43.34%	88.78%	846.59%	33.95%	16.93%	28.34%	138.14%	97.72%	124.67%	233.19%	-40.71%	91.95%	-322.27%	-138.91%	-171.68%	-82.04%	61.03%		100.66%
qoq	86.62%	-362.12%	149.81%	-55.82%	-47.48%	14895.88%	-99.30%	-36.55%	-53.60%	64.29%	-32.95%	0.42%	9.31%	151.54%	-5.99%	-31.27%	38.29%	94.86%	-41.84%	-31.99%	124.52%	-52.33%	-78.73%	307.37%	37.16%	58.82%	6.67%	-42.35%	19.73%	74.32%	97.94%	-52.14%	36.05%	158.52%	-64.78%	54.95%	-257.54%	-54.75%	-35.11%	-138.83%	-1512.27%
operating margin %	Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-190.72%	-59.94%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-67.10%	-Infinity%	-Infinity%	-25.52%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	NaN%	Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%
other income	-6,338,000	-6,231,000	8,328,000	7,050,000	1,577,000	2,515,000	-86,000	310,000		4,586,000	-10,108,000	-21,875,000	-2,579,000	6,938,000	6,328,000	5,802,000	3,871,000	1,264,000	3,795,000	1,412,000	822,000	2,090,000	3,044,000	937,000	857,000	4,773,000	463,000
interest and other finance expenses	-1,537,000	-1,165,000	-1,628,000	-1,746,000	-1,286,000									-2,693,000	-1,817,000	-1,639,000	-1,640,000	-2,072,000	-1,859,000	-509,000
dilution loss from investments in paragon advanced labs inc.	-162,000
total other income	-8,037,000	-7,999,000	6,700,000	5,304,000	291,000	7,385,000	-1,170,000	-1,424,000	-958,000	225,289,000	223,000	-2,298,000	5,885,000	4,245,000	4,511,000	4,163,000	2,231,000	-808,000	1,936,000	903,000	-1,036,000	145,000	1,290,000	-940,000	-2,014,000	4,123,000	-2,320,000	477,000	-662,000	303,000	1,203,000	-1,942,000			1,059,000	1,759,000	-113,000	556,000	768,000	748,000	2,261,000	-877,000	3,236,000			318,000				922,000	1,602,000		1,500,000		254,000	743,000	549,000		852,177	267,260			264,025		572,055.75	1,351,873	372,598	559,217
income before income and mining taxes	33,205,000			1,929,000																							-13,515,000	-10,018,000	-18,868,000	-14,903,000		-6,349,000
income and mining tax recovery	174,000	24,026,000	1,269,000	1,111,000	1,079,000	-1,071,000	-814,000	2,376,000	2,557,000			2,049,000	536,000	334,750	524,000		814,000	841,000	1,022,000	2,015,000	114,000	152,000	30,000	1,094,000	1,269,000	2,192,000	501,000		-2,121,000	1,613,000		1,138,000
net income after income and mining taxes	33,379,000			3,040,000
net income per share
basic	0.56																																0.01	-0.03	-0.01	-0.01	-0.02	0.01	0.03	0.04	-0.05	0.01	-0.05	0.02	-0.04	-0.35	0.06	0.01
diluted	0.47																																0.01	-0.03	-0.01	-0.01	-0.02	0.01	0.03	0.04	-0.005	0.01		0.02	-0.04	-0.35	0.06	0.01
weighted-average common shares outstanding
basic	58,859	54,046		53,968																									337,297				313,887	314,077	308,523	299,575	298,772	298,510	298,237	298,242	300,341	300,530		297,255	297,164	297,164	297,159	297,125
diluted	72,426	65,560		54,022																									337,297				313,887	314,077	308,523	299,575	300,474	301,045	299,791	298,554		300,530		297,266	297,164	297,164	298,410	297,899
other comprehensive income:
change in foreign currency translation adjustments	24
comprehensive income	33,403																															-5,211,000	1,918,000	-9,289,000	-2,788,000	857,000	-4,672,000	4,498,000	10,574,000	12,861,000	-1,647,000	2,154,000		5,856,000	-13,035,000		17,888,000	3,264,000																		-5,871,556
loss from investment in mcewen copper inc.		-5,716,000	-4,275,000	-6,978,000	-8,578,000	-10,297,000	-1,852,000	-16,816,000	-18,012,000
income from investment in minera santa cruz s.a.		33,550,000	3,469,000	3,596,000	510,000	4,270,000	-1,228,000	4,701,000	1,278,000	7,109,000	-2,672,000	-914,000		537,250	758,000	2,511,000		-2,650,000			-284,750	2,582,000					4,137,000	2,310,000	1,862,500	4,973,000
loss before income and mining taxes		-1,787,750	-1,731,000		-7,349,000	-9,894,500	-1,267,000	-15,371,000	-22,940,000	-27,718,250	-28,617,000	-45,310,000	-36,946,000	-34,937,000	-11,066,000	-12,406,000	-21,878,000	-18,242,000	-7,011,000	-14,481,000	-23,656,000	-9,930,000	-19,844,000	-100,285,000	-26,401,000	-13,657,000					-7,520,000
net loss after income and mining taxes		-923,000	-462,000		-6,270,000	-8,864,750	-2,081,000	-12,995,000	-20,383,000	-27,011,000	-28,373,000	-43,261,000	-36,410,000	-42,082,000	-10,542,000	-12,406,000	-21,064,000
net income per share
basic and diluted		-0.018	-0.01	0.06	-0.12	-0.16	-0.04	-0.26	-0.41	2.91	-0.39	-0.46	-0.91	-0.8	-0.21	-0.26	-0.04	-0.04	-0.01	-0.03	-0.06	-0.02	-0.05	-0.25	-0.07	-0.03	-0.04	-0.03	-0.06	-0.04	-0.02	-0.02
weighted-average common shares outstanding
basic and diluted			54,170		53,270	51,021	51,953	49,718	49,440	47,544	47,471	47,428	47,428	47,427	50,778	47,428	464,021	459,187	459,187	441,794	403,457	403,887	400,513	400,370	361,845	362,175	346,998	338,557		337,100	337,087	337,062
other operating expenses:
other operating expenses: - sum					-17,710,000	-14,909,000	-13,900,000	-24,705,000	-27,993,000	-61,022,000	-32,595,000	-39,544,000	-47,274,000			-20,804,000		-17,778,000		-10,398,000	-8,933,000	-9,374,000	-12,259,000
other income:
advanced projects - los azules										2,538,000	-18,478,000	-28,524,000	-31,880,000	-29,688,000	-7,623,000	-14,081,000
advanced projects - other						760,000	-2,468,000	-2,990,000	-2,454,000	-1,984,000	-1,966,000	-1,275,000	-1,680,000	-2,166,000	-1,194,000	-841,000
interest and other finance income						-907,000	-1,084,000	-1,734,000	-870,000																		-2,783,000
net loss attributable to non-controlling interests										-2,768,000	9,922,000	21,634,000	-6,666,000			-46,000	1,737,000
net loss and comprehensive loss attributable to mcewen shareholders						-8,864,750	-2,081,000	-12,995,000	-20,383,000	-20,788,500	-18,451,000	-21,627,000	-43,076,000	-37,363,000	-10,530,000	-12,452,000	-19,327,000
other expense									-88,000
net income attributable to non-controlling interests
interest and other finance income (expenses)										-1,454,000	10,331,000	19,577,000	8,464,000
income and mining tax (expense) recovery										707,250	244,000
loss from investment in minera santa cruz s.a.													-3,461,000				-1,120,000		-1,853,000	-574,000			-1,045,000	-2,676,000	-1,979,000	-328,000					2,265,000
revenue from gold sales to auramet														3,945,000	15,780,000
total revenue														20,544,250	25,988,000													15,640,000			34,179,000
yoy																																																															NaN%	NaN%
qoq														-20.95%																																																	NaN%			NaN%	NaN%
														-38,894,000	-17,080,000		-18,115,000		-13,006,000						-25,649,000	-19,399,000	15,872,000
net gain attributable to non-controlling interests														75,000	12,000
gross loss																	-5,994,000			-4,986,000
revision of estimates and accretion of asset retirement obligations																		-1,309,000	-505,000	-911,000	215,000	-886,000	-457,000	-660,000	-2,148,000	-495,000	427,000
impairment of mineral property interests and plant and equipment																								-83,805,000
other operating																							-1,968,000
net loss and comprehensive loss																		-17,401,000	-5,989,000	-12,466,000					-8,653,750	-11,465,000
interest and other finance expense																					-1,858,000	-1,945,000	-1,754,000	-1,877,000	-2,871,000	-650,000
net income																					-32,195,750	-9,778,000	-19,814,000	-99,191,000					-20,989,000	-13,290,000	-5,380,000	-5,211,000	2,166,000	-8,072,000	-1,712,000	-3,018,000	-4,491,000	4,208,000	8,353,000	12,985,000	-14,988,000	2,633,000		6,021,000			17,887,000	3,264,000												-3,907,531	-4,810,316		-3,752,110	-5,917,269	-5,787,237.75	-6,023,071	-8,362,815
yoy																													-1069.02%	64.64%	214.25%	72.66%	-148.23%	-291.83%	-120.50%	-123.24%	-70.04%	59.82%		115.66%				84.47%																-33.96%	-16.88%		-55.13%
qoq																					229.27%	-50.65%	-80.02%						57.93%	147.03%	3.24%	-340.58%	-126.83%	371.50%	-43.27%	-32.80%	-206.73%	-49.62%	-35.67%	-186.64%	-669.24%						448.01%													-18.77%			-36.59%	2.25%	-3.92%	-27.98%
net income margin %	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	0%	0%	NaN%	NaN%	NaN%	NaN%	NaN%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	NaN%	NaN%	NaN%	0%	-Infinity%	-Infinity%	-15.74%	-Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	NaN%	Infinity%	NaN%	NaN%	Infinity%	Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	-Infinity%	-Infinity%	NaN%	NaN%	NaN%	-Infinity%	NaN%	NaN%	NaN%
shareholders' distribution declared per common share																														0.005		0.005
operating expenses:
net income and comprehensive loss																											-13,014,000	-10,136,000
revenue:
gold and silver sales																												15,583,000	26,432,000	26,896,000	33,806,000	41,041,000	24,092,000	13,430,000	15,110,000	14,833,000	11,162,000	13,423,000	14,613,000	21,190,000	11,411,000	22,503,000	16,160,000	22,882,000	8,853,000	11,637,000	11,130,000	11,778,000	10,459,000	13,498,000	456,000
other revenue																												57,000	30,000		373,000	244,000
costs and expenses:
mine development																												776,000	1,072,000	1,505,000	710,000						918,000	934,000	1,316,000
property holding																												1,608,000	321,000	1,975,000	189,000						239,000	1,892,000	258,000
revision of estimates and accretion of asset reclamation obligations																												461,000	2,568,000	314,000			1,520,000	320,000	116,000	105,000
total other operating expenses																												12,967,000	22,309,000	21,782,000	18,646,000
interest and other income																												-513,000	-1,007,000	-832,000		-134,000					81,000	599,000
gain on investments																												827,000
foreign currency gain																												163,000	354,000	1,159,000	1,482,000	927,000	-105,000	-276,000	1,050,000	25,000	-51,000	130,000	-281,000	783,000	2,272,000	-162,000	8,000			284,000				291,000	423,000	79,000			238,000	221,000	523,000		1,181,388	329,975			131,075		253,694	976,669	33,572
income and mining tax																												-118,000
gain on sale of assets																													22,000		-99,000					11,000		24,000			-3,250																				6,504
gain on sale of marketable equity securities																													-191,750		-33,000				840,000					22,000
unrealized fair value loss on marketable securities																													-448,750	-158,000
other-than-temporary impairment on marketable equity securities																																		-356,000					-597,000	-285,000
unrealized gain on derivatives																													-182,750	134,000		-864,000	-363,000	-933,000	-722,000	1,791,000	-143,000	-197,000	1,719,000
other comprehensive loss:
reclassification of unrealized gain on marketable securities disposed of during the period, net of taxes																																			-840,000
unrealized gain on marketable equity securities, net of taxes																																					447,500	290,000	1,624,000
comprehensive loss																													-5,970,250	-13,290,000													-14,598,000			-104,020,000			-128,681,000	-10,982,000	-2,584,000	-19,876,000	-19,578,000	-23,591,000	-14,617,000	-8,137,000	-8,170,000	-10,711,000	-15,086,919	-3,907,531	-4,810,316	-114,898,936	-3,815,471	-6,011,185
accretion of asset reclamation obligations																															288,000	294,000
interest and other expense																															354,000
unrealized fair value loss on marketable equity securities																															-500,000	-1,137,000
deferred income and mining tax recovery																															2,140,000
comprehensive																															-5,380,000
mine development costs																																380,000	620,000	1,382,000	720,000	1,115,000				698,000	720,000	112,000	163,000	174,000	31,000	155,000	1,568,000	747,000	98,000	471,000
exploration costs																																11,454,000	3,828,000	2,356,000	3,086,000	8,444,000				1,740,000	1,546,000	1,830,000	3,080,000	2,342,000	2,306,000	2,637,000	2,680,000	2,575,000	4,889,000	14,600,000	6,708,000	10,073,000	11,784,000	15,115,000	10,626,000	6,909,000	4,747,000	4,189,000	2,530,859	1,900,116	1,723,926	5,707,845	1,543,475	2,291,361	4,167,973.5	4,446,432	5,241,763	6,689,216
property holding costs																																1,411,000	289,000	1,979,000	423,000	1,188,000				1,147,000	275,000	2,073,000	496,000	1,492,000	2,380,000	734,000	1,454,000	2,384,000	316,000	1,377,000	2,147,000	407,000	1,573,000	2,362,000	155,000	953,000	2,692,000	471,000	1,866,408	308,617	1,485,811	48,488	812,803	1,239,522	641,398.25	317,952	1,678,501	569,140
general and administrative costs																																5,187,000
loss																																212,000											2,652,000
total costs and expenses																																45,692,000	33,559,000	20,198,000	17,728,000	22,266,000	15,959,000	10,378,000	7,884,000	10,820,000	38,117,000	20,612,000	45,833,000	17,714,000	23,602,000	141,011,000	11,692,000	22,663,000	148,562,000	31,628,000	22,321,000	25,538,000	24,173,000	21,239,000	13,408,000	9,477,000	8,719,000	12,005,000	21,010,573	4,174,791	4,562,807	7,559,475	4,016,135	5,709,314	6,456,298.5	7,374,944	9,123,433	9,283,575
loss on sale of marketable equity securities																																-734,000
loss from investment in minera santa cruz s.a., net of amortization																																	-491,000	462,000	263,000		838,000	-4,693,000	-4,133,000		-6,378,000	1,641,000
interest and other income:																																	-460,000	-303,000	-109,000
total other (expense) income																																	238,000	-1,868,000
income before income taxes																																	-3,966,750	-8,636,000	-1,559,000	-5,674,000	-4,910,000	3,601,000	7,497,000	11,118,000				4,858,000
income tax recovery																																	766,750	564,000			832,500	607,000	856,000				12,321,000		8,714,000	25,034,000
unrealized gain on available-for-sale securities, net of taxes																																	516,500	-1,573,000	-236,000	3,875,000					177,000	-479,000	-482,000			2,000	1,000					1,375,000		89,000		597,000
return of capital distribution declared per common share																																		0.005	0.005	0.005		0.005
costs and expenses
income tax																																			-153,000
income from investment in minera santa cruz s.a., net of amortization																																				-190,000				-4,963,000
interest income and other income																																				-68,000			-73,000	228,000	-11,000	-715,000
income taxes recovery																																				2,656,000				1,867,000	3,775,750	1,619,000
accretion of asset retirement obligation																																					95,500	125,000	133,000	124,000	85,500	110,000	131,000	101,000	100,000	108,000	101,000	113,000	121,000	113,000	110,000	120,000	112,000	134,000	137,000	129,000	89,000	116,000	169,067	133,393	132,921	254,540	139,587	140,385	75,750.5	110,409		194,839
impairment of mineral property interests and property and equipment																																									20,860,000	1,198,000	28,542,000			120,398,000		6,287,000	27,729,000
unrealized loss on available-for-sale securities, net of taxes																																								-124,000
mine construction costs																																													567,000	217,000	939,000				4,671,000	6,994,000
registration taxes
gain before income taxes																																									-5,141,250	1,014,000
net interest and other income																																											3,228,000
net income per share
basic	0.56																																0.01	-0.03	-0.01	-0.01	-0.02	0.01	0.03	0.04	-0.05	0.01	-0.05	0.02	-0.04	-0.35	0.06	0.01
weighted average common shares outstanding
basic																																											300,530
net interest income
foreign currency loss																																																														154,984		98,392
recovery of income taxes																																												1,163,000			18,957,000	12,157,000	12,405,000	6,463,000			2,273,000					1,999,000	5,075,213
revenue: - sum																																													8,853,000	11,637,000		13,818,000
general and administrative expenses																																													2,549,000
loss on investment in minera santa cruz s.a., net of amortization																																													4,441,000	2,438,000
impairment of investment in msc																																																	95,878,000
loss on sale of assets																																																	6,791,000
interest income																																													347,000	34,000	75,000	60,000	68,000	71,000	16,000	57,000	125,000	19,000	22,000	9,000	31,000	24,000	20,725	24,921	34,759	168,803	162,511	211,808	342,405	470,821	339,326	559,473
gain on litigation settlement																																																		560,000
gain on sales of gold and silver
unrealized loss on gold and silver bullion
income on investment in minera santa cruz s.a., net of amortization																																																2,040,000
mine operating costs																																																			2,406,000	3,494,000
acquisition costs																																																			8,000	47,000	1,395,000												112,844.75			451,422
impairment of investment in minera santa cruz s.a.
gain on sale of gold and silver bullion																																																51,000
basic and diluted per share data:
net loss - basic and diluted																																																	-0.43			-0.08	-0.08	-0.17	-0.09
weighted-average common shares outstanding:
- basic and diluted																																																	297,097	296,778		268,009	233,994	139,725	139,646		121,996	121,918	121,892,853	108,050,362
income on investment in minera santa cruz s.a., net of amortization - note 5
net income - basic and diluted																																																		-0.04	-0.01					-0.07	-0.07	-0.1	-0.12	-0.04	-0.05
revenue
income on investment in minera santa cruz s.a., net of amortization - note 7																																																			11,311,000
gain on sale of property and equipment
asset impairments																																																			2,902,000	179,000
interest expense																																																						46,000				12,000
gain on sale of gold and silver bullion - note 4																																																			1,233,000	434,000	1,408,000
unrealized loss on silver bullion - note 4
gain on sale of marketable equity securities - note 3
other-than-temporary impairment on marketable equity securities - note 3
recovery of income taxes - note 2																																																			6,369,000	6,277,000
other comprehensive loss
reclassification of unrealized gain on marketable equity securities disposed of during the period, net of taxes
weighted-average common shares outstanding: - basic and diluted																																																			268,373
income on investment in minera santa cruz s.a.																																																				1,595,000	4,002,000
amortization of fair value increments
mine construction and development costs																																																					4,363,000
gain on disposal of assets
write-off of mineral property interests																																																										5,878,000
gain on sale of gold and silver bullion - note 3																																																						1,143,000
unrealized loss on silver bullion - note 3
gain on sale of marketable equity securities - note 2																																																						19,000
comprehensive loss:
gain on sale of gold bullion - note 3																																																								524,000
-basic and diluted																																																								128,914					96,676,186	-1.19	-0.04
(gain) loss on disposal of assets
goodwill impairment
write off of long-lived assets																																																											15,075,687
impairment of goodwill - note 5
provision for income taxes
minority interest share of net loss
unrealized loss on available-for-sale securities																																																															-63,361
unrealized loss on available for-sale securities																																																																-93,916
-basic																																																																-0.06	19,442,796.75	94,107,761
-diluted																																																																-0.06	19,442,796.75	94,107,761	88,259,042
change in value of derivatives
gain on sale of other assets
benefit from income taxes
income before minority interests
minority interests share of loss																																																																	97,005
unrealized gain on available for-sale securities																																																																	37,878.75	151,515
net income - basic																																																																	-0.075	-0.06
- diluted																																																																	-0.075	-0.06	-0.09
stock option expense																																																																			680,067	438,818
net income (loss) before minority interest																																																																			-8,750,835
minority interest share of net																																																																			388,020
weighted-average common shares outstanding-basic																																																																			88,259,042
net income (loss) - basic																																																																			-0.09
operating
(loss) before income taxes
net																																																																				-8,724,358
net (loss) - basic and diluted																																																																				-0.17

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-09-30	2012-06-30	2012-03-31	2011-09-30	2011-06-30	2011-03-31	2010-09-30	2010-06-30	2010-03-31	2009-09-30	2009-06-30	2009-03-31	2008-09-30	2008-06-30	2008-03-31	2007-09-30	2007-06-30	2007-03-31

assets
current assets:
cash and cash equivalents	56,535,000	51,249,000	53,554,000	68,510,000	13,692,000	29,226,000	40,685,000	21,989,000	23,020,000	49,115,000	84,823,000	190,776,000	39,782,000	54,882,000	44,021,000	63,783,000	63,144,000	42,232,000	47,402,000	20,843,000	7,954,000	18,410,000	28,774,000	46,452,000	4,262,000	9,325,000	11,907,000	15,756,000	40,839,000	16,028,000	29,904,000	27,153,000	68,962,000	24,781,000	28,890,000	37,440,000	38,812,000	36,749,000	34,623,000	25,874,000	30,902,000	22,371,000	16,569,000	17,622,000	15,149,000	19,471,000	31,062,000	34,773,000	45,122,000	18,520,000	23,398,000	41,133,000	32,807,000	53,351,000	75,041,000	17,415,000	24,906,000	19,898,000	44,192,107	50,877,789	6,642,176	15,777,258	22,022,549	26,154,185	31,997,453	35,390,321	48,590,717
marketable securities	13,542,000	24,171,000	15,967,000	10,745,000	1,617,000	1,001,000	1,945,000
receivables, prepaids and other current assets	6,447,000	6,303,000	6,771,000	5,363,000	7,486,000	7,411,000	6,385,000	5,838,000	5,578,000
due from mcewen copper inc.	1,934,000	8,137,000	7,242,000	1,044,000	286,000		3,148,000	2,754,000	2,376,000
inventories	31,361,000	29,514,000	24,134,000	20,737,000	18,111,000	21,934,000	19,991,000	19,871,000	10,100,000	27,164,000	24,052,000	23,560,000	31,735,000	30,152,000	18,761,000	16,293,000	19,252,000	25,430,000	27,910,000	26,964,000	34,244,000	33,371,000	38,327,000	38,376,000	34,368,000	32,987,000	30,682,000	22,039,000	27,806,000	27,299,000	29,051,000	31,951,000	19,560,000	20,018,000	29,453,000	26,620,000	22,337,000	19,172,000	15,769,000	14,975,000	12,425,000	13,771,000	12,931,000	9,202,000	10,170,000	9,323,000	7,807,000	7,967,000
total current assets	109,819,000	119,374,000	107,668,000	106,399,000	41,192,000	59,572,000	72,154,000	52,021,000	52,661,000	125,790,000	144,923,000	223,470,000	81,652,000	96,068,000	72,313,000	95,295,000	92,127,000	74,941,000	81,012,000	53,497,000	57,546,000	58,198,000	73,114,000	91,978,000	56,886,000	65,176,000	65,660,000	59,376,000	77,770,000	58,220,000	79,625,000		108,450,000	66,074,000	81,715,000		74,803,000	64,704,000	56,972,000	54,443,000	56,868,000	55,463,000	43,547,000	39,702,000	42,081,000	43,692,000	50,920,000	57,804,000	66,680,000	36,020,000	48,479,000	73,346,000	64,722,000	94,926,000	115,714,000	24,453,000	30,741,000	37,652,000	47,772,155	51,621,844	7,851,363	17,075,858	23,743,282	27,730,407	34,178,003	36,233,082	49,523,577
mineral property interests and plant and equipment	350,539,000	222,381,000	220,488,000	217,554,000	210,922,000	201,205,000	167,828,000	167,149,000	169,950,000	340,009,000	338,893,000	342,516,000	346,281,000	346,501,000	343,141,000	343,034,000	342,695,000	340,353,000	334,866,000	329,112,000	330,202,000	333,764,000	333,651,000	418,791,000	424,837,000	436,120,000
equity method investments	450,006,000
loan receivable from mcewen copper inc.	12,336,000
deferred tax assets	21,345,000
restricted cash	4,378,000	4,002,000	3,996,000	3,946,000	3,772,000	3,062,000	2,524,000	4,429,000	4,490,000	4,227,000	4,227,000	4,227,000				2,850,000	2,550,000	3,625,000	3,625,000	3,595,000	10,193,000				8,764,000	13,112,000	14,762,000	14,685,000		3,621,000	8,837,000	10,000,000
other assets	35,000	36,000	33,000	102,000	102,000	171,000	673,000	672,000	673,000	673,000	757,000	703,000	1,106,000	1,103,000	983,000	620,000	712,000	631,000	910,000	621,000	618,000	667,000	669,000	668,000	757,000	2,564,000	4,173,000	5,872,000	6,881,000	9,707,000	9,659,000	15,257,000	11,227,000	10,348,000	1,316,000	2,199,000	531,000	531,000	537,000	531,000	531,000	531,000	533,000	531,000	91,000	142,000	84,000	54,000	54,000	54,000	54,000	56,000	6,000	4,000	84,000	79,000	77,000	80,000	141,609	137,157	137,930	236,071	213,378	248,869	340,808	395,937	427,338
total assets	972,597,000	747,644,000	735,622,000	730,597,000	664,623,000	667,792,000	645,143,000	638,716,000	657,239,000	572,693,000	593,184,000	677,679,000	528,719,000	545,136,000	520,639,000	535,773,000	539,776,000	520,604,000	528,180,000	499,936,000	506,180,000	504,707,000	523,626,000	631,223,000	607,211,000	623,207,000	628,976,000	616,941,000	620,646,000	585,010,000	588,147,000	592,129,000	571,037,000	531,272,000	499,378,000	498,318,000	499,835,000	493,104,000	479,990,000	475,085,000	504,750,000	506,615,000	526,733,000	783,460,000	796,270,000	924,611,000	973,251,000	982,371,000	1,124,963,000	1,111,205,000	1,137,218,000	1,161,993,000	327,086,000	347,660,000	360,898,000	267,445,000	273,718,000	286,054,000	297,265,712	317,469,753	273,736,044	286,016,876	399,783,992	403,794,235	401,721,978	453,910,965	419,351,978
liabilities and shareholders’ equity
current liabilities:
accounts payable and accrued liabilities	47,728,000	36,226,000	33,905,000	27,004,000	28,448,000	28,832,000	24,780,000	24,732,000	22,656,000	38,814,000	35,105,000	46,155,000	42,521,000	30,508,000	25,822,000	42,435,000	29,285,000	34,561,000	35,542,000	36,055,000	28,852,000	28,121,000	27,805,000	34,070,000	32,110,000	28,726,000	27,292,000	30,817,000	37,608,000	37,637,000	38,268,000		25,082,000	18,388,000	22,836,000		19,057,000	16,849,000	17,072,000	18,429,000	19,227,000	20,219,000	19,875,000	18,310,000	12,238,000	11,930,000	10,041,000	10,694,000	12,645,000	7,181,000	8,223,000	8,678,000	5,673,000	3,581,000	3,546,000		1,570,000	1,738,000				1,511,945	745,729	796,206	2,076,324	4,861,162	9,023,861
consideration payable for canadian gold corp. acquisition	31,230,000
long-term debt, current portion	3,000,000																							5,000,000	2,000,000
reclamation and remediation liabilities	7,321,000	6,824,000	6,875,000	5,847,000	4,988,000	2,795,000	2,280,000	4,235,000	39,916,000	2,434,000	9,922,000	12,797,000	12,576,000	12,889,000	11,239,000	6,532,000
contract liability	1,838,000	9,350,000		1,529,000	3,544,000			1,966,000		10,187,000	4,971,000	2,335,000	6,155,000	4,715,000
flow-through share premium	1,255,000	483,000	2,107,000	3,957,000	5,447,000	6,369,000	6,823,000	1,103,000	1,661,000	405,000	1,220,000	2,703,000	4,056,000	4,414,000	4,966,000	4,804,000	2,581,000	2,581,000	3,736,000	3,827,000	2,058,000				839,000	2,344,000	2,893,000	2,950,000		301,000	1,000,000
tax liabilities	3,476,000	3,058,000	2,237,000	6,152,000	4,478,000	3,050,000	2,455,000	1,979,000	1,603,000	608,000	608,000	8,231,000	7,663,000
lease liabilities	819,000	833,000	727,000	766,000	788,000	890,000	679,000	894,000	488,000	1,014,000	1,070,000	1,167,000	1,215,000	1,534,000	2,171,000	2,484,000
total current liabilities	96,667,000	56,774,000	45,851,000	45,255,000	47,693,000	50,936,000	43,017,000	37,909,000	30,003,000	53,462,000	52,896,000	89,388,000	84,186,000	58,060,000	44,198,000	59,105,000	46,312,000	44,985,000	45,733,000	45,554,000	35,983,000	32,679,000	47,827,000	48,795,000	40,429,000	34,295,000	32,982,000	36,012,000	39,880,000	39,020,000	40,332,000		25,771,000	19,077,000	23,366,000		19,231,000	17,064,000	17,287,000	22,039,000	26,912,000	28,468,000	22,331,000	19,768,000	13,693,000	13,384,000	11,392,000	12,005,000	13,917,000	7,504,000	8,733,000	9,136,000	6,768,000	4,607,000	4,540,000	3,657,000	2,265,000	2,434,000	2,088,417	2,510,512	1,709,365	1,871,302	953,139	998,089	2,168,347	4,977,674	9,162,662
long-term debt	123,367,000	125,968,000	125,772,000	125,528,000	40,000,000	31,000,000	34,000,000	37,000,000	40,000,000															19,758,000	22,718,000	24,678,000	24,640,000	24,603,000	24,566,000
deferred tax liabilities	58,676,000	34,044,000	34,364,000	35,203,000	36,630,000	36,861,000	35,753,000	37,907,000	40,572,000
other liabilities	2,357,000	2,710,000	3,003,000	2,680,000	2,927,000	4,251,000	4,293,000	3,562,000	3,840,000	4,484,000	4,240,000	4,507,000				2,850,000	2,550,000	2,963,000	3,114,000	3,257,000	3,365,000	3,486,000	3,604,000	3,910,000	4,018,000	5,208,000	4,077,000	5,765,000	554,000	593,000	581,000		657,000	686,000	1,705,000		1,261,000	1,270,000			400,000	400,000	400,000	400,000	400,000	400,000	400,000	400,000	400,000	400,000	400,000	400,000	400,000	400,000	400,000	400,000	472,000	472,000	251,271	244,767	287,753	495,805	376,461	348,018	273,304	202,825	203,998
total liabilities	320,637,000	259,080,000	251,143,000	250,760,000	169,648,000	165,688,000	159,934,000	156,208,000	154,819,000	138,719,000	131,107,000	172,397,000	172,445,000	146,811,000	138,658,000	156,393,000	128,911,000	132,632,000	134,431,000	134,608,000	125,379,000	121,995,000	123,188,000	131,744,000	129,503,000	135,193,000	130,779,000	130,995,000	125,990,000	75,181,000	73,528,000		59,786,000	52,727,000	56,603,000		52,623,000	50,801,000	50,272,000	56,793,000	70,136,000	72,945,000	78,810,000	132,622,000	134,897,000	159,576,000	215,554,000	228,296,000	242,576,000	256,834,000	283,856,000	290,107,000	91,476,000	89,399,000	89,264,000	88,689,000	87,341,000	89,419,000	90,410,903	95,816,990	94,968,643	96,147,611	95,204,692	95,120,302	90,621,397	141,412,818	128,877,750
shareholders’ equity:
common shares: 59,188 as at march 31, 2026	1,893,850,000
accumulated deficit	-1,241,914,000	-1,313,419,000	-1,312,957,000	-1,315,997,000	-1,309,727,000	-1,301,495,000	-1,299,414,000	-1,286,419,000	-1,266,036,000	-1,404,490,000	-1,386,039,000	-1,364,412,000	-1,321,336,000	-1,284,144,000	-1,273,614,000	-1,259,759,000	-1,219,404,000	-1,202,003,000	-1,196,014,000	-1,183,548,000	-1,160,006,000	-1,150,228,000	-1,130,414,000	-1,031,223,000	-1,006,091,000	-994,626,000	-981,612,000	-971,476,000	-950,487,000	-937,197,000	-931,817,000		-931,772,000	-923,700,000	-921,990,000		-914,481,000	-918,689,000	-927,042,000	-940,027,000	-925,039,000
accumulated other comprehensive income	24,000																																3,248,000	4,465,000	5,541,000		1,847,000	1,557,000		-825,000	-1,002,000																								151,515
total shareholders’ equity	651,960,000	488,564,000	484,479,000	479,837,000	494,975,000	502,104,000	485,209,000	482,508,000	502,420,000	433,974,000	462,077,000	505,282,000	356,274,000	398,325,000	381,981,000	379,380,000	410,865,000	387,972,000	393,749,000	365,328,000	380,801,000	382,712,000	400,438,000	499,479,000	477,708,000	488,014,000	498,197,000	485,946,000	494,656,000	509,829,000	514,619,000		511,251,000	478,545,000	442,775,000		447,212,000	442,303,000	429,718,000	418,292,000	434,614,000	433,670,000	447,923,000	650,838,000	661,373,000	765,035,000	757,697,000	754,075,000	882,387,000	854,371,000	853,362,000	871,886,000	235,610,000	258,261,000	271,634,000	178,756,000	186,377,000	196,635,000	206,854,809	221,652,763	178,767,401	189,869,265	304,579,300	308,673,933	311,100,581	312,498,147	289,006,524
total liabilities and shareholders’ equity	972,597,000																															592,129,000				498,318,000
investment in mcewen copper inc.		279,116,000	283,391,000	290,369,000	298,947,000	303,467,000	291,319,000	308,135,000	326,147,000
investment in minera santa cruz s.a.		107,183,000	103,714,000	100,118,000	101,854,000	97,586,000	98,814,000	94,496,000	93,218,000	86,109,000	88,781,000	89,990,000	93,451,000	92,824,000	92,066,000	89,841,000	95,688,000	98,338,000	102,768,000	108,326,000	108,762,000	106,180,000	107,507,000	110,183,000	116,994,000	119,347,000	123,484,000	127,814,000	133,254,000	140,356,000	145,001,000	150,064,000	154,590,000	157,320,000	159,985,000	162,320,000	167,626,000	170,807,000	169,444,000	167,107,000	172,506,000	174,147,000	177,347,000	203,614,000	210,425,000	216,031,000	177,080,000	176,282,000
liabilities & shareholders’ equity
common shares: 54,464 as at september 30, 2025		1,801,983,000
total liabilities & shareholders’ equity		747,644,000	735,622,000	730,597,000	664,623,000	667,792,000	645,143,000	638,716,000	657,239,000	572,693,000	593,184,000	677,679,000	528,719,000	545,136,000	520,639,000	535,773,000	539,776,000	520,604,000	528,180,000	499,936,000	506,180,000	504,707,000	523,626,000	631,223,000	607,211,000	623,207,000	628,976,000	616,941,000	620,646,000	585,010,000	588,147,000		571,037,000	531,272,000	499,378,000		499,835,000	493,104,000	479,990,000	475,085,000	504,750,000	506,615,000	526,733,000	783,460,000	796,270,000	924,611,000	973,251,000	982,371,000	1,124,963,000	1,111,205,000	1,137,218,000	1,161,993,000	327,086,000	347,660,000	360,898,000	267,445,000	273,718,000	286,054,000	297,265,712	317,469,753	273,736,044	286,016,876	399,783,992	403,794,235	401,721,978	453,910,965	419,351,978
common shares: 54,098 as at june 30, 2025			1,797,436,000
common shares: 53,935 as at march 31, 2025				1,795,834,000
common shares: 53,054 as at december 31, 2024, and 49,440 as at december 31, 2023 issued and outstanding					1,804,702,000
current portion of long-term debt						9,000,000	6,000,000	3,000,000
common shares: 52,925 as at september 30, 2024						1,803,599,000
common shares: 51,073 as at june 30, 2024							1,784,623,000
investments								1,569,000	1,743,000	40,833,000	29,188,000	1,591,000	1,295,000	1,431,000	2,395,000	2,424,000	1,798,000	1,777,000					875,000	1,885,000	3,224,000	5,147,000	4,222,000	3,131,000	3,162,000	2,312,000	2,573,000	7,971,000	9,225,000	11,096,000	15,329,000		7,056,000	4,692,000	460,000	1,032,000	855,000	1,334,000	1,945,000
common shares: 49,440 as at march 31, 2024								1,768,927,000
inventories, current portion									19,944,000
reclamation and remediation liabilities, current portion									3,105,000
lease liabilities, current portion									978,000								3,002,000	2,960,000	2,638,000	2,440,000	2,213,000	2,175,000	2,117,000	2,115,000	2,045,000	2,007,000
common shares: 49,440 as of december 31, 2023, and 47,428 as of december 31, 2022 issued and outstanding									1,768,456,000
non-controlling interests										84,052,000	93,974,000	115,608,000	33,465,000	38,184,000	22,082,000	13,040,000	14,914,000
receivables, prepaids and other assets										8,678,000	6,860,000	7,543,000	8,840,000	9,603,000	7,136,000	9,945,000	5,383,000	5,502,000	5,700,000	5,690,000	5,155,000	6,417,000	5,138,000
debt, current portion												16,000,000	10,000,000	4,000,000			2,000,000						8,000,000
debt										40,000,000	40,000,000	48,124,000	53,979,000	59,834,000	63,693,000	63,553,000	22,340,000	24,250,000	24,163,000	24,080,000	23,997,000	23,904,000	16,799,000
common shares: 47,492 as of september 30, 2023 and 47,428 as of december 31, 2022 issued and outstanding										1,754,412,000
common shares: 47,474 as of june 30, 2023 and 47,428 as of december 31, 2022 issued and outstanding											1,754,142,000
common shares: 47,428 as of march 31, 2023 issued and outstanding												1,754,086,000

common shares: 47,428 as of december 31, 2022 and 45,919 as of december 31, 2021 issued and outstanding													1,644,145,000
common shares: 47,428 as of september 30, 2022 and 45,919 as of december 31, 2021 issued and outstanding														1,644,285,000
common shares: 47,428 as of june 30, 2022 and 45,919 as of december 31, 2021 issued and outstanding															1,633,513,000
common shares: 473,688 as of march 31, 2022 and 459,188 as of december 31, 2021 issued and outstanding																1,626,099,000
inventories, long-term																	4,929,000	2,716,000	4,999,000	4,785,000	5,457,000	5,898,000	8,685,000	9,603,000	7,737,000
debt to related party, current portion																	2,000,000						8,000,000
asset retirement obligation, current portion																	4,894,000	4,883,000	3,817,000	3,232,000	2,860,000	2,383,000	1,905,000	2,610,000	1,435,000	1,218,000
lease liabilities, long-term																	2,102,000	2,849,000	2,850,000	3,056,000	3,408,000	3,904,000	4,356,000	5,018,000	5,465,000	6,001,000
debt to related party																	22,340,000	24,250,000	24,163,000	24,080,000	23,997,000	23,904,000	16,799,000
asset retirement obligation, long-term																	29,686,000	30,001,000	31,167,000	30,768,000	30,932,000	30,355,000	29,998,000	29,591,000	28,319,000	33,771,000
deferred income and mining tax liability																	3,193,000	3,334,000	3,241,000	3,813,000	3,697,000	3,763,000	3,805,000	4,914,000	5,836,000	6,562,000	6,449,000	6,426,000	5,286,000	6,744,000	8,176,000	8,430,000
common shares: 459,188 as of september 30, 2021 and 416,587 as of december 31, 2020 issued and outstanding																	1,615,355,000
common shares: 459,188 as of june 30, 2021 and 416,587 as of december 31, 2020 issued and outstanding																		1,589,975,000
common shares: 459,188 as of march 31, 2021 and 416,587 as of december 31, 2020 issued and outstanding																			1,589,763,000
common shares: 416,587 as of december 31, 2020 and 400,339 as of december 31, 2019 issued and outstanding																				1,548,876,000
common shares: 408,842 as of september 30, 2020 and 400,339 as of december 31, 2019 issued and outstanding																					1,540,807,000
common shares: 402,491 as of june 30, 2020 and 400,339 as of december 31, 2019 issued and outstanding																						1,532,940,000
common shares, ...
common: 400,399 as of march 31, 2020 and 400,339 as of december 31, 2019 issued and outstanding																							1,530,852,000
receivables and other current assets																								5,265,000	6,268,000	4,605,000
long-term debt to related party, current portion																								5,000,000
long-term debt to related party																								19,758,000
common: 400,339 as of december 31, 2019 and 344,560 as of december 31, 2018 issued and outstanding																								1,530,702,000
long-term debt from related party, current portion																									2,000,000
long-term debt from related party																									22,718,000	24,678,000	24,640,000	24,603,000	24,566,000
common: 362,458 as of september 30, 2019 and 344,560 as of december 31, 2018 issued and outstanding																									1,483,799,000
common: 361,957 as of june 30, 2019 and 344,560 as of december 31, 2018 issued and outstanding																										1,480,006,000
warrants																										2,634,000	2,467,000			3,823,000	3,823,000		3,822,000
value added taxes receivable																											1,204,000	1,058,000	2,751,000	4,934,000	5,099,000		7,913,000	8,283,000	6,340,000		3,275,000	2,455,000	4,126,000	10,032,000	10,855,000
other current assets																											2,883,000	2,707,000	3,212,000	4,026,000	4,161,000		2,790,000	1,896,000	1,703,000		3,323,000	1,636,000	1,994,000	2,530,000	1,831,000	7,532,000	1,697,000	2,005,000	2,279,000	1,817,000	1,922,000	4,617,000	5,289,000				3,054,000	3,645,000	2,410,000	1,497,000	1,280,000	1,159,000	841,203	744,055	1,209,187	1,298,600	1,720,733	1,576,222	2,180,550	842,761	932,860
mineral property interests, plant and equipment and construction in progress																											435,659,000
current portion of lease liabilities																											1,710,000
current portion of asset retirement obligation																											1,087,000	734,000	1,233,000	834,000	743,000		689,000	689,000	530,000		174,000	215,000	215,000	215,000	2,514,000	2,485,000	2,456,000	1,458,000	1,455,000	1,454,000	1,351,000	1,311,000													253,713			135,117
asset retirement obligation, less current portion																											32,380,000	28,668,000	28,060,000	28,824,000	24,399,000		9,995,000	9,663,000	9,411,000		7,951,000	7,826,000	7,693,000	7,569,000	5,654,000	5,572,000	5,116,000	5,976,000	5,940,000	5,894,000	5,265,000	5,237,000													5,630,922			5,587,395
lease liabilities, less current portion																											5,611,000
common: 359,986 as of march 31, 2019 and 344,560 as of december 31, 2018 issued and outstanding																											1,477,342,000
mineral property interests																												309,145,000	301,704,000	302,540,000	296,034,000	293,437,000	282,721,000	283,170,000	242,107,000	242,640,000	242,350,000	243,051,000	237,373,000	237,245,000	257,106,000	258,625,000	287,490,000	521,526,000	521,884,000	642,646,000	724,841,000	731,449,000												255,812,460	251,192,034		253,689,374	253,689,374	236,974,753	375,339,846	327,113,212
plant and equipment and construction in progress																												114,734,000
current portion of capital lease liabilities																												1,511,000	1,039,000	248,000	321,000
capital lease liabilities, less current portion																												4,918,000	3,078,000		40,000	81,000
common: 344,560 as of december 31, 2018 and 337,051 as of december 31, 2017 issued and outstanding																												1,457,422,000
plant and equipment, mine development and construction in progress																													101,037,000	74,187,000	57,828,000
common: 337,286 as of september 30, 2018 and 337,051 as of december 31, 2017 issued and outstanding																													1,445,143,000
common stock																																												1,357,934,000			1,354,279,000										502,518,000								287,066,574	252,961,195	163,869,055
common: 337,268 as of june 30, 2018 and 337,051 as of december 31, 2017 issued and outstanding																														1,443,203,000
common: 337,086 as of march 31, 2018 and 337,051 as of december 31, 2017 issued and outstanding																															1,442,613,000
operating data
revenue																																67,724,000				60,388,000
income on investment in minera santa cruz s.a.																																-44,000				12,951,000
operating income																																-26,027,000				15,347,000
other income																																24,000				1,959,000
net income																																-10,634,000				21,055,000
basic income per share																																-30				70
diluted income per share																																-30				70
balance sheet data
iva taxes receivable																																5,250,000				4,304,000						10,455,000	10,405,000	10,873,000	14,483,000	13,081,000	10,129,000	9,031,000	7,887,000	8,139,000	6,068,000	3,962,000
property and equipment																																51,046,000	14,049,000	14,360,000	14,255,000	14,252,000	14,525,000	14,011,000	15,664,000	15,759,000	17,739,000	17,849,000	17,816,000	18,085,000	16,972,000	16,917,000	15,143,000	11,599,000	12,660,000											4,938,835	4,277,744			4,668,892	5,041,267	9,441,208	10,639,031
current liabilities																																37,639,000				20,581,000
other long‑term liabilities																																24,706,000				11,033,000
shareholders’ equity																																521,273,000				443,039,000
deferred income tax liability																																	23,363,000	23,301,000	22,121,000	23,665,000	24,180,000	24,641,000	25,014,000	26,899,000	36,875,000	38,201,000	50,652,000	106,150,000	114,864,000	139,898,000	198,497,000	210,654,000							78,573,000	78,573,000	78,573,000	80,572,000	82,265,390	87,340,603	87,340,603	88,186,800	88,186,800	88,186,800	82,912,765	130,960,309	114,101,166
332,977 as of september 30, 2017 and 299,570 as of december 31, 2016 issued and outstanding																																	1,435,953,000
312,277 as of june 30, 2017 and 299,570 as of december 31, 2016 issued and outstanding																																		1,397,780,000
common: 299,590 as of march 31, 2017 and 299,570 as of december 31, 2016 issued and outstanding																																			1,359,224,000
available-for-sale investments																																				8,543,000
gold and silver bullion
short-term bank indebtedness																																								3,395,000	5,171,000	5,764,000
common: 299,453 as of september 30, 2016 and 274,421 as of december 31, 2015 issued and outstanding
exchangeable: nil shares as of september 30, 2016 and 24,213 shares as of december 31, 2015 issued and outstanding																																					1,359,846,000
common: 278,239 as of june 30, 2016 and 274,421 as of december 31, 2015 issued and outstanding
exchangeable: 20,648 shares as of june 30, 2016 and 24,213 shares as of december 31, 2015 issued and outstanding																																						1,359,435,000
deferred rent expense																																							278,000	286,000	295,000			328,000
common: 277,022 as of march 31, 2016 and 274,421 as of december 31, 2015 issued and outstanding
exchangeable: 21,054 shares as of march 31, 2016 and 24,213 shares as of december 31, 2015 issued and outstanding																																							1,357,424,000
accumulated other comprehensive loss																																							-664,000																854,000
common: 274,421 as of december 31, 2015 and 271,579 as of december 31, 2014 issued and outstanding
exchangeable: 24,213 shares as of december 31, 2015 and 28,521 shares as of december 31, 2014 issued and outstanding																																								1,359,144,000
common: 274,254 as of september 30, 2015 and 271,579 as of december 31, 2014 issued and outstanding
exchangeable: 26,277 shares as of september 30, 2015 and 28,521 shares as of december 31, 2014 issued and outstanding																																									1,360,655,000
deferred lease inducement																																										304,000	311,000
common: 273,381 as of june 30, 2015 and 271,579 shares as of december 31, 2014 issued and outstanding
exchangeable: 27,149 shares as of june 30, 2015 and 28,521 shares as of december 31, 2014 issued and outstanding																																										1,361,865,000
common: 272,956 as of march 31, 2015 and 271,579 shares as of december 31, 2014 issued and outstanding
exchangeable: 27,574 shares as of march 31, 2015 and 28,521 shares as of december 31, 2014 issued and outstanding																																											1,361,520,000
restricted time deposits for reclamation bonding																																												2,000															4,824,850	4,959,457	4,878,728
commitments and contingencies
restrictive time deposits for reclamation bonding																																													4,817,000	5,183,000	5,183,000	5,183,000															5,031,107	5,041,165	4,974,417	4,310,857	3,458,784
exchangeable: 30,623 shares as of june 30, 2014 and 32,246 shares as of december 31, 2013 issued and outstanding																																													1,355,434,000
common: 265,317 as of march 31, 2014 and 264,913 shares as of december 31, 2013 issued and outstanding
exchangeable: 31,842 shares as of march 31, 2014 and 32,246 shares as of december 31, 2013 issued and outstanding																																														1,355,076,000
investment in gold and silver bullion																																																1,416,000	1,690,000
litigation settlement liability
common: 261,302 shares as of june 30, 2013 and 212,646 shares as of december 31, 2012 issued and outstanding
exchangeable: 35,812 shares as of june 30, 2013 and 83,379 shares as of december 31, 2012 issued and outstanding																																																1,353,924,000
inventories - note 3																																																	6,692,000
mineral property interests - note 4																																																	766,675,000				245,453,000	236,224,000	235,669,000
restrictive time deposits for reclamation bonding - note 4																																																	5,183,000				5,190,000	5,190,000	4,777,000
investment in minera santa cruz s.a. - note 5																																																	273,711,000
current portion of asset retirement obligation - note 4																																																	1,272,000				624,000	509,000	482,000
asset retirement obligation, less current portion - note 4																																																	5,200,000				5,735,000	5,819,000	5,751,000
deferred income tax liability - note 2																																																	223,059,000	242,761,000	268,615,000	274,630,000
common: 215,337 shares as of march 31, 2013 and 212,646 shares as of december 31, 2012 issued and outstanding
exchangeable: 81,749 shares as of march 31, 2013 and 83,379 shares as of december 31, 2012 issued and outstanding																																																	1,353,555,000
short-term investments																																																				3,095,000				972,000	939,000	12,979,000
marketable equity securities - note 3																																																		6,000	486,000	1,104,000
gold and silver bullion (market value - 2012 - 2,273; 2011 - 24,483) - note 4																																																		1,690,000
inventories - note 5																																																		2,783,000
prepaid and other current assets																																																		4,882,000	2,967,000	3,751,000
mineral property interests - note 6																																																		785,278,000
restrictive time deposits for reclamation bonding - note 6																																																		5,190,000
investment in minera santa cruz s.a. - note 7																																																		271,180,000
property and equipment, net - note 8																																																		13,483,000
current portion of asset retirement obligation - note 6																																																		323,000
asset retirement obligation, less current portion - note 6																																																		6,169,000
common: 189,610 shares as of september 30, 2012 and 136,572 shares as of december 31, 2011 issued and outstanding
exchangeable: (2012) 78,886 shares as of september 30, 2012 and nil shares as of december 31, 2011 issued and outstanding
exchangeable: (2007) nil shares as of september 30, 2012 and 3,181 shares as of december 31, 2011 issued and outstanding																																																		1,288,478,000
gold and silver bullion (market value - 2012 - 13,994; 2011 - 24,483) - note 4																																																			12,963,000
other inventories																																																			834,000	2,379,000
assets held for sale - note 7																																																			1,763,000
mineral property interests - note 5																																																			843,764,000	842,732,000
restrictive time deposits for reclamation bonding - note 5																																																			5,190,000	5,190,000
investment in minera santa cruz s.a. - note 6																																																			225,989,000	226,197,000
property and equipment, net - note 7																																																			13,742,000	14,472,000
current portion of asset retirement obligation - note 5																																																			510,000	458,000
asset retirement obligation, less current portion - note 5																																																			6,108,000	5,941,000
common: 183,207 shares as of june 30, 2012 and 136,572 shares as of december 31, 2011 issued and outstanding
exchangeable: 2012: 85,088 shares as of june 30, 2012 and nil shares as of december 31, 2011 issued and outstanding
exchangeable: 2007: nil shares as of june 30, 2012 and 3,181 shares as of december 31, 2011 issued and outstanding																																																			1,287,343,000
gold and silver bullion (market value - 2012 - 21,397; 2011 - 24,483) - note 4																																																				17,922,000
common: 161,839 shares as of march 31, 2012 and 136,572 shares as of december 31, 2011 issued and outstanding
exchangeable: series b: 103,523 shares as of march 31, 2012 and nil shares as of december 31, 2011 issued and outstanding
exchangeable: series a: 2,528 shares as of march 31, 2012 and 3,181 shares as of december 31, 2011 issued and outstanding																																																				1,285,991,000
marketable equity securities - note 2																																																					2,248,000	3,710,000	5,174,000
gold and silver bullion (market value - 28,819) - note 3																																																					26,613,000
property and equipment, net - note 5																																																					11,715,000	11,316,000
current deferred income tax liability																																																					393,000	393,000	393,000	393,000	393,000	393,000
other current liabilities																																																					78,000	124,000	119,000	102,000	98,000	110,000
deferred income tax liability - note 4																																																					78,573,000	78,573,000
common: 136,474 shares as of september 30, 2011 and 117,717 shares as of december 31, 2010 issued and outstanding
exchangeable: 3,279 shares as of september 30, 2011 and 4,469 shares as of december 31, 2010 issued and outstanding																																																					613,064,000
gold and silver bullion (market value - 36,766) - note 3																																																						34,220,000
common: 136,332 shares as of june 30, 2011 and 117,717 shares as of december 31, 2010 issued and outstanding
exchangeable: 3,379 shares as of june 30, 2011 and 4,469 shares as of december 31, 2010 issued and outstanding																																																						612,124,000
gold and silver bullion (market value - 37,182) - note 3																																																							33,089,000
property and equipment, net - note 6																																																							4,654,000
common: 135,444 shares as of march 31, 2011 and 117,717 shares as of december 31, 2010 issued and outstanding
exchangeable: 4,096 shares as of march 31, 2011 and 4,469 shares as of december 31, 2010 issued and outstanding																																																							610,880,000
gold bullion - note 2																																																								4,569,000	3,616,000	3,616,000	2,738,845
mineral property interests - note 3																																																								233,981,000	233,981,000	239,858,000	240,751,307
restrictive time deposits for reclamation bonding - note 3																																																								4,777,000	4,777,000	4,777,000				5,030,254
property and equipment, net - note 4																																																								4,155,000	4,142,000	3,687,000	3,678,291			4,587,074	4,691,323
accounts payable																																																								1,686,000			787,775	1,185,180	207,650
accrued liabilities																																																								1,221,000			1,110,940	1,030,307	1,248,002
current portion of asset retirement obligation - note 3																																																								255,000	204,000	193,000	189,702			292,591	140,644
asset retirement obligation, less current portion - note 3																																																								6,059,000	6,031,000	5,941,000	5,805,825			5,593,704	5,688,292
common: 117,065 shares as of september 30, 2010 and 106,538 shares as of december 31, 2009 issued and outstanding
exchangeable: 4,952 shares as of september 30, 2010 and 15,355 shares as of december 31, 2009 issued and outstanding																																																								503,067,000
common: 115,838 shares as of march 31, 2010 and 106,538 shares as of december 31, 2009 issued and outstanding
exchangeable: 6,070 shares as of march 31, 2010 and 15,355 shares as of december 31, 2009 issued and outstanding																																																										502,065,000
assets held for sale																																																											97,500
income tax liability																																																														66,766	66,766	66,766
common stock: no par value, 250,000,000 shares authorized; 106,342,526 shares issued and outstanding as of september 30, 2009 and 79,853,990 shares issued and outstanding as of december 31, 2008
exchangeable: 15,550,327 shares issued and outstanding as of september 30, 2009 and 16,822,196 shares issued and outstanding as of december 31, 2008																																																											501,517,709
current portion of asset retirement obligation - note 2																																																												295,025
asset retirement obligation, less current portion - note 2																																																												5,721,108
common stock: no par value, 250,000,000 shares authorized; 105,966,811 shares issued and outstanding as of june 30, 2009 and 79,853,990 shares issued and outstanding as of december 31, 2008																																																												501,228,744
exchangeable: 15,926,042 shares issued and outstanding as of june 30, 2009 and 16,822,196 shares issued and outstanding as of december 31, 2008
capitalized asset retirement cost																																																													4,620,426		4,620,426	4,620,426
inactive milling equipment																																																													777,819	777,819	777,819	777,819	777,819	777,819	777,819
common stock: no par value, 250,000,000 shares authorized; 80,450,815 shares issued and outstanding as of march 31, 2009 and 79,853,990 shares issued and outstanding as of december 31, 2008																																																													454,435,851
exchangeable: 16,225,371 shares issued and outstanding as of march 31, 2009 and 16,822,196 shares issued and outstanding as of december 31, 2008
mineral property interests - note 2																																																														253,689,374
capitalized asset retirement cost - note 3																																																														4,620,426
goodwill - note 5
common stock: no par value, 250,000,000 shares authorized; 77,964,325 issued and outstanding as of september 30, 2008 and 73,703,363 issued and outstanding as of december 31, 2007																																																														454,079,258
exchangeable: 18,711,861 shares issued and outstanding as of september 30, 2008 and 22,749,690 shares issued and outstanding as of december 31, 2007
warrants for stock purchase																																																																6,171,812
goodwill																																																															107,017,283	107,017,283	114,865,763	24,112,001	24,112,001
common stock: no par value, 250,000,000 shares authorized; 75,624,281 issued and outstanding as of june 30, 2008 and 73,703,363 issued and outstanding as of december 31, 2007																																																															453,890,357
exchangeable: 21,051,905 shares issued and outstanding as of june 30, 2008 and 22,749,692 shares issued and outstanding as of december 31, 2007
common stock: no par value, 250,000,000 shares authorized; 75,008,947 issued and outstanding as of march 31, 2008 and 73,703,363 issued and outstanding as of december 31, 2007																																																																447,997,707
exchangeable: 21,667,239 shares issued and outstanding as of march 31, 2008 and 22,749,692 shares issued and outstanding as of december 31, 2007
capitalized asset-asset retirement cost																																																																	4,569,148
other assets:
total other assets																																																																	1,118,627	4,473,971	4,505,373
asset retirement obligation																																																																	92,023
canadian acquisition exchangeable shares, no par value, unlimited shares authorized; 23,310,977 shares issued and outstanding as of september 30, 2007, none issued and outstanding as of december 31, 2006																																																																	157,951,583
accumulated
long-lived asset-asset retirement																																																																		3,300,215	3,300,216
retirement obligation																																																																		116,512	138,801
canadian acquisition exchangeable shares, no par value, unlimited shares authorized; 27,961,286 shares issued and outstanding as of june 30, 2007, none issued and outstanding as of december 31, 2006																																																																		187,582,973
minority interest in subsidiaries																																																																			1,467,704
canadian acquisition exchangeable shares, no par value, unlimited shares authorized; 38,027,674 shares issued and outstanding as of march 31, 2007, none issued and outstanding as of december 31, 2006																																																																			244,782,045

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-09-30	2012-06-30	2012-03-31	2011-09-30	2011-06-30	2011-03-31	2010-09-30	2010-06-30	2010-03-31	2009-09-30	2009-06-30	2009-03-31	2008-09-30	2008-06-30	2008-03-31	2007-06-30

cash flows from operating activities:
net income	33,379,000																									-13,014,000	-10,136,000	-20,989,000			-5,211,000	12,789,366	-8,072,000	-1,710,000	-3,018,000	-4,491,000	4,208,000	8,353,000	12,985,000				6,021,000			17,887,000			-10,982,000						-8,734,000	-8,170,000	-10,703,000	-6,878,000	-15,083,183	-3,907,531	-4,810,316
adjustments to reconcile net income from operating activities:
loss from equity method investments	-30,338,000
dividends received from minera santa cruz s.a.	8,835,000	0	0	2,246,000		0			0	0			0	0			0	2,577,000	4,984,000	58,000	0										4,851,000	-7,182,788	2,268,000	2,402,000	2,525,000	4,468,000	7,873,000	2,771,000	2,626,000	0	0			2,370,000	3,168,000	3,945,000
depreciation, amortization and depletion	7,077,000	7,643,000	6,853,000	6,171,000	6,854,000	8,921,000	7,652,000	7,436,000
loss on marketable securities	5,189,000
reclamation accretion and adjustments to estimate	364,000	430,000	1,655,000	794,000	-262,000	910,000	-145,000	361,000	2,154,000	-996,000	904,000	631,000
deferred income and mining tax	140,000
flow-through premium amortization	-812,000
other	2,509,000
changes in non-cash working capital items:
change in inventories	-7,095,000	-5,960,000	-8,000,000	-5,170,000
change in other assets related to operations	-1,036,000	938,000	-2,481,000	1,364,000			-1,220,000	-2,277,000	11,237,000	-4,311,000	2,354,000	-2,732,000
change in accounts payable and accrued liabilities	171,000	2,321,000	6,901,000	-1,444,000
change in contract liability	-5,712,000
change in other liabilities related to operations	-568,000	-4,250,000	1,979,000	-1,105,000
cash from operating activities	12,103,000	5,215,000	478,000	-1,932,000	-1,212,000	23,179,000	3,606,000	3,881,000	16,405,000	-2,280,000	-25,154,000	-28,608,000	-8,057,000	-6,197,000	-28,735,000	-15,620,000	-11,003,000	2,070,000	-10,143,000	-2,600,000	-5,174,000	-8,191,000	-11,908,000	-17,611,000	-12,764,000	1,669,000	-10,821,000	1,321,000	-1,455,000	-10,467,000	11,088,000	9,207,566	2,429,000	-4,802,000	-6,850,000	775,000	4,858,000	4,845,000	14,708,000	-1,039,000	10,669,000	352,000	5,615,000	-2,317,000	-3,212,000	-3,884,000		-10,191,000	-24,994,000	-20,825,000	-26,269,000	-16,387,000	-17,852,000	-13,096,000	-9,245,000	-7,003,000	-5,804,000	-6,527,000	-8,507,368	-2,410,184	-3,402,420	-5,916,920	-4,087,629	-4,548,275
cash flows from investing activities:
additions to mineral property interests and plant and equipment	-14,551,000	-10,829,000	-9,649,000	-14,534,000	-12,749,000	-19,140,000	-6,684,000	-4,522,000	-7,822,000								-8,111,000	-10,287,000	-10,085,000	-4,069,000	-801,000	-3,000,000	-5,503,000	-2,680,000	-2,543,000
loan receivable from mcewen copper inc.	-7,500,000
investment in marketable securities		-157,000	-598,000	-1,399,000	-287,000
cash from investing activities	-21,038,000	-10,957,000	-15,229,000	-13,593,000	-12,903,000	-34,019,000	-6,549,000	-4,575,000	-47,748,000	-16,371,000	-30,568,000	-4,950,000	-7,047,000	-8,888,000	-3,921,000	-4,045,000	-8,111,000	-7,218,000	-5,101,000	-4,011,000	160,000	-2,525,000	-5,391,000	4,717,000	3,686,000	-7,972,000	-14,492,000	-27,756,000	-24,568,000	-8,848,000	-8,169,000	-438,472	-6,000	724,000	-314,000		-2,921,000	-4,574,000	-595,000	-242,000										15,745,000	7,625,000	41,807,000				-1,068,000					29,764				1,243,868
cash flows from financing activities:
issuance of flow-through common shares, net of issuance costs	14,831,000				0	0
proceeds from senior convertible notes		0	0	110,000,000
purchase of capped call options		0	0	-15,114,000
convertible notes financing costs		0	53,000	-4,176,000
principal repayment on long-term debt		0	0	-20,000,000
payment of finance lease obligations	-296,000	-252,000	-316,000	-197,000	-335,000	-502,000	-245,000	-149,000	-126,000	-562,000	-540,000	-408,000	0	-817,000	-1,306,000	-215,000	26,000	-22,000	-8,000	-578,000	-569,000	-502,000	-555,000
cash from financing activities	14,535,000	3,451,000	-263,000	70,513,000	-334,000	-502,000	20,180,000	-142,000	13,302,000	-562,000	-25,540,000	184,982,000	4,000	25,946,000	10,044,000	29,461,000	42,576,000	-22,000	41,833,000	9,318,000	9,256,000	-503,000	-493,000	46,399,000	-387,000	2,117,000	21,878,000	15,049,000						0	-1,451,000				-5,466,000	-3,546,000				1,253,000			76,000	61,000	34,000	260,000	789,000	2,515,000	0	493,000	105,695,000	190,000	75,000	14,000	0			0	0	257,181	1,205,694
effect of exchange rate change on cash and cash equivalents	52,000	-8,000	108,000	4,000	-375,000	421,000	-446,000	-256,000	-7,791,000	-16,495,000											-958,000	855,000	114,000	-79,000	54,000	-46,000	-337,000	987,000	183,000	266,000	314,000	-131,108	97,000	-31,000	65,000	-353,000	-4,000	-18,000	102,000	-201,000														-178,000	368,000			505,000	1,181,388						527,387
increase in cash, cash equivalents and restricted cash	5,652,000	-2,299,000	-14,906,000	54,992,000		-10,921,000	16,791,000	-1,092,000	-25,832,000	-35,708,000	-105,953,000	151,424,000		10,861,000	-22,612,000	9,796,000	23,462,000	-5,170,000	26,589,000					33,426,000			-3,772,000	-10,399,000			1,588,000
cash, cash equivalents and restricted cash, beginning of period	55,261,000	0	0	17,464,000		0	0	27,510,000		0	0	43,579,000		0	0	60,634,000	0	0	24,438,000		0	0	46,500,000	0	0	0	30,489,000	0	0	0	37,153,000
cash, cash equivalents and restricted cash, end of period	60,913,000	-2,299,000	-14,906,000	72,456,000		-10,921,000	16,791,000	26,418,000		-35,708,000	-105,953,000	195,003,000		10,861,000	-22,612,000	70,430,000	23,462,000	-5,170,000	51,027,000		3,284,000	-10,364,000	28,822,000	33,426,000	-9,411,000	-4,232,000	26,717,000	-10,399,000	21,191,000	-19,044,000	38,741,000
net loss		-462,000	3,040,000	-6,270,000		-2,081,000	-12,995,000	-20,383,000		-28,373,000	-43,261,000	-36,410,000	-42,082,000	-10,542,000	-12,406,000	-21,064,000	-17,401,000	-5,989,000	-12,466,000	-23,542,000	-9,778,000	-19,814,000	-99,191,000	-25,132,000																-14,988,000	2,633,000			-13,033,000			3,264,000				-21,251,000	-19,202,000	-23,680,000											-5,917,269
adjustments to reconcile net loss from operating activities:
loss from investment in mcewen copper inc.		4,275,000	6,978,000	8,578,000		1,852,000	16,816,000	18,012,000
income from investment in minera santa cruz s.a.		-3,469,000	-3,596,000	-510,000
unrealized loss on marketable securities				-1,755,000
foreign exchange loss		8,000	-108,000	-4,000	375,000	-421,000	446,000	256,000	7,791,000	16,495,000											958,000	-101,000	-868,000													353,000	4,000	18,000	-102,000	201,000	-46,000	73,000	120,000	410,000	-289,000	595,000	-374,000	679,000	514,000	58,000	-120,000	218,000									285,109	276,856	-131,075	372,412
income and mining tax recovery		-2,096,000	-2,733,000	-2,917,000		-481,000	-2,688,000	-3,128,000		-244,000	-2,049,000	-536,000		-524,000										-1,269,000	-2,192,000			2,121,000
stock-based compensation		844,000	1,202,000	178,000	1,102,000	357,000	1,321,000	464,000	617,000	270,000	56,000	28,000	27,000	123,000	7,000	183,000	293,000	212,000	227,000	280,000	30,000	214,000	88,000	213,000	284,000	136,000	61,000	87,000	-214,000	193,000	203,000	-1,080,691	337,000	415,000	330,000	269,000	279,000	138,000	353,000	258,000	293,000	345,000	409,000	243,000	229,000	380,000	279,000	308,000	378,000	710,000	562,000	1,573,000	683,000	751,000	471,000	359,000	378,000	265,000
non-cash interest expense		381,000	370,000	158,000
change in deferred revenue		9,349,000
advances to related parties - mcewen copper inc.
investment in mcewen copper inc.					0
notes receivable from timberline
cash and restricted cash received from acquisition of timberline
costs to acquire timberline
proceeds from sale of marketable securities		29,000	74,000	94,000		0
proceeds from exercise of stock options																																				230,000	1,627,000
proceeds from exercise of warrants					1,000	0	1,000	7,000
unrealized gain on marketable securities
change in flow-through premium liability
advances to related parties
supplemental disclosure of cash flow information:
cash received during the period:
interest paid			-384,000	-759,000	-983,000	-983,000	-973,000	-972,000		-1,125,000	-853,000	-1,253,000		-1,476,000	-1,627,000	-1,202,000	-1,227,000	-1,234,000	-1,215,000	-1,281,000	-1,280,000	-1,281,000	-1,289,000	-1,307,000	-1,313,000	-1,282,000	-1,316,000	-1,228,000
interest received			332,000	361,000	-101,000	108,000	510,000	119,000		11,783,000	21,738,000	9,044,000		-11,000	15,000	6,000	-2,000	6,000	7,000	1,000	7,000	16,000	135,000	73,000	0	57,000	3,000	96,000	180,000	46,000	50,000	-111,499	-6,000	84,000	34,000	54,000	2,000	0	220,000	277,000	-77,000	-11,000	98,000	347,000	34,000	75,000	0	68,000	71,000	0	0	125,000	19,000	22,000	9,000	31,000						132,895	100,504	210,706	1,033,079
taxes paid			-1,729,000	-211,000	-311,000	0
change in non-cash working capital items:
cash received during the period for:
income from investment in mcewen copper inc.
unrealized
foreign exchange loss on marketable securities
income and mining tax (recovery) expense																							-1,094,000
dilution gain from investments in mcewen copper inc.
gain on deconsolidation of mcewen copper inc.
change in assets related to operations					-2,827,000
change in liabilities related to operations					2,590,000	3,754,000	-752,000	4,304,000	-16,199,000	8,294,000	-16,376,000	-17,000
notes receivable acquired
cash and restricted cash received from acquisition of timberline resources corporation					-1,000
proceeds from sale of investment in mcewen copper inc.
cash outflow on mcewen copper inc. deconsolidation
proceeds from mcewen copper inc. financing
proceeds from promissory note													0	0	0	15,000,000
subscription proceeds received in advance													0	0	-3,150,000	300,000
decrease in cash, cash equivalents and restricted cash
cash, cash equivalents and restricted cash, beginning of year
cash, cash equivalents and restricted cash, end of year
cash received (paid) during the year for:
loss from investment in minera santa cruz s.a.						1,228,000	-4,701,000	-1,278,000	-7,109,000	2,672,000	914,000	3,461,000	-627,000	-758,000
gain on disposal of property and equipment						0	0	-113,000

costs to acquire timberline resources corporation
unrealized loss on investments								227,000	-4,891,000
investment in marketable equity securities								-53,000	-250,000	-7,052,000																			-874,000											0
gain on sale of mineral property interests																	0
foreign exchange loss on investments									0	8,048,000
income and mining tax expense																											118,000
proceeds from disposal of property and equipment																	0															-32,967	0	-3,000	36,000									8,000						3,090,000	51,000	2,000	13,000	0	23,000
depreciation and amortization										8,506,000	8,517,000	7,263,000	7,366,000	4,674,000	3,886,000	3,606,000	5,396,000	5,344,000	4,662,000	6,858,000	4,603,000	4,872,000	6,757,000	7,385,000	11,390,000																																								120,342
proceeds from mcewen copper financing										0	0	185,390,000
principal repayment on debt										0
cash received during period for:
unrealized gain on investments											-2,714,000	-296,000
net additions to mineral property interests and plant and equipment											-4,008,000	-4,950,000		-8,888,000	-4,207,000	-4,045,000
tax paid
impairment loss on mineral property interests and plant and equipment
unrealized foreign exchange gain and adjustment to estimate													5,813,000
deferred income and mining tax recovery
accretion of reclamation and remediation liability
increase in assets related to operations
increase in liabilities related to operations																				7,115,000	771,000			1,579,000	1,956,000	4,492,000	-757,000	2,018,000	-1,521,000	-6,236,000	1,199,000	-3,384,185			2,756,000	889,000				-1,771,000				5,115,000	1,936,000	504,000							2,007,000	11,000	824,000	1,259,000	-196,000	595,000	-499,941	937,915	352,890			43,311
proceeds from sale of investments																						193,000	112,000	2,055,000				-772,000	0	1,004,000	2,663,000	-2,152,845	0			0	0
proceeds from sale of subsidiary shares, net of issuance costs
sale of flow-through common shares, net of issuance costs													0	0	0	14,376,000	0	0	11,966,000	9,819,000
loss on investments																				0	-1,000	-278,000	898,000	-287,000
reclamation and remediation														722,000	2,760,000	527,000
decrease in other assets related to operations														-9,340,000			3,834,000	5,209,000	-1,562,000	6,124,000	-133,000	5,471,000	1,234,000	-4,345,000											-3,655,000																									334,771	107,583	342,768	-110,300	162,970	443,378
decrease in liabilities related to operations														9,268,000			-5,881,000																					-239,000	-1,383,000
proceeds from sale of shares, net of issuance costs														26,763,000			0	0	29,875,000
gain on investments															29,000	-618,000											-827,000
unrealized foreign exchange loss and adjustment to estimate															-410,000	195,000	-342,000	182,000	152,000
loss from investment in minera santa cruz s.a., net of amortization																1,120,000	2,650,000	1,853,000	574,000	378,000	-2,582,000	1,045,000	2,676,000	1,979,000								-534,956	462,000			838,000	-4,693,000
income and mining tax																-814,000	-841,000	-1,022,000	-2,015,000	-114,000	-152,000
increase in other assets related to operations																-763,000										2,834,000	-5,729,000						-1,317,000			-3,000,000	-4,852,000	-3,510,000	206,000	-3,247,000
(decrease) in liabilities related to operations																2,008,000			-626,000				-6,873,000
impairment of mineral property interests and plant and equipment																				0	0	0	83,805,000
revision of estimates and accretion of asset retirement obligations																	1,309,000	505,000	911,000	12,000	1,110,000	6,000	660,000	2,148,000	495,000
proceeds from sale of investments, net of investments																				0
proceeds from sale of shares in subsidiary
total cash, cash equivalents, and restricted cash																	-1,229,000
proceeds of exercise of stock options																				77,000	0	-1,000	62,000	133,000	151,000	37,000	223,000
loss on disposal of fixed assets																								-38,000												0
proceeds from sale of units, net of issuance costs
proceeds of loan from related party																												0
proceeds of loan																												0
debt issuance costs and lender fees																												0
proceeds of at-the-market share sale
shareholders' distribution																												0	-1,687,000	0	-1,685,000
cash received during year for:
(decrease) in cash, cash equivalents and restricted cash																					3,284,000	-10,364,000	-17,678,000
proceeds from sale of units, net of share issue costs
proceeds of at-the-market common stock sale
proceeds of at-the-market common stock issuance
impairment of property and equipment
acquisition of lexam vg gold, net of cash and cash equivalents acquired
acquisition of black fox, net of cash and cash equivalents acquired
sale of flow-through common stock, net of share issue costs
cash paid to suppliers and employees																									-45,436,000	-32,138,000	-25,148,000	-24,009,000	-27,836,000	-39,841,000	-35,098,000	59,807,129	-13,263,000	-22,398,000	-24,242,000	-14,904,000	-16,440,000	-12,539,000	-8,457,000	-12,092,000	-10,789,000	-15,911,000	-16,468,000	-14,215,000	-18,051,000	-19,034,000	-15,838,000	-20,328,000	-38,193,000	-22,979,000	-26,269,000	-16,512,000	-17,871,000	-13,118,000	-9,254,000	-7,034,000	-5,844,000	-6,527,000	-8,507,368	-2,410,184	-3,402,420	-6,049,815	-4,188,133	-4,758,981	-19,541,028
cash flow from revenues																									33,985,000	35,032,000	15,640,000
return of investment received from minera santa cruz s.a.																									2,025,000	0	2,020,000	1,025,000	2,129,000
net proceeds from equity registered direct offering																									0
proceeds of at-the-market common share issuance																									0	0	1,851,000
payment of lease obligations																									-538,000
reconciliation of net loss to cash from operating activities:
unrealized foreign exchange loss
effect of exchange rate changes on cash and cash equivalents																									-54,000
reconciliation of net income to cash from operating activities:
income from investment in minera santa cruz s.a., net of amortization																										4,137,000	2,310,000								-190,000				-4,963,000
unrealized foreign exchange gain
additions to mineral property interests, plant and equipment and construction in progress																											-16,512,000
principal repayments on leases																											-448,000
proceeds from equity issued																											19,320,000
proceeds from warrants issued																											2,680,000
share and warrant issuance costs																											-1,748,000					3,349,647
revision of estimates and accretion of asset reclamation obligations																											461,000	2,568,000	314,000	288,000	294,000	-538,939
adjustment to the asset retirement obligation estimate																											301,000	-1,492,000	218,000	-270,000	-359,000
depreciation and amortizations																											3,186,000
foreign exchange gain																											337,000	-987,000	-183,000	-266,000	-314,000	131,108	-97,000	31,000	-65,000
increase in vat taxes receivable, net of collection of 126																											-146,000
additions to mineral property interests																												-10,012,000	-1,661,000	-3,226,000	-4,084,000
additions to property and equipment																												-18,081,000	-24,162,000	-13,347,000	-6,748,000	938,923	-6,000	-588,000	-350,000	-88,000	-834,000	-107,000	-145,000	-242,000
additions to investments
principal repayments on capital leases																												-93,000
proceeds from equity sale
proceeds from warrants sale
sale of flow-through common shares
flow-through common share issuance costs
repayment of short-term bank indebtedness																																				0	0	0	-3,395,000
share repurchase																																				0	0	0	-582,000
loss																															212,000																		237,000
gain on disposal of fixed assets																												-22,000	0				0	0	-11,000
depreciation																												2,330,000	2,275,000	2,237,000	2,327,000	-1,121,622	316,000	482,000	327,000	360,000	312,000	258,000	239,000	251,000	211,000	208,000	272,000	239,000	229,000	225,000	204,000	245,000	282,000	266,000	263,000	221,000	179,000	139,000	120,000	101,000	109,000	130,000	163,246	162,183	160,447	156,618	162,708	144,304
amortization of mineral property interests and asset retirement obligations																												1,819,000	1,813,000	1,824,000	1,800,000	-1,509,802	448,000	532,000	533,000	568,000	701,000	822,000	322,000	322,000	322,000	322,000	322,000	297,000	304,000	322,000	288,000	287,000	669,000
increase in vat taxes receivable, net of collection of 8,274
cash flow from gold and silver sales
proceeds of the exercise of stock options
proceeds from equity issuance																																-42,410,547
proceeds from warrants issuance																																-4,117,878
adjustments to reconcile net (loss) from operating activities:
other-than-temporary impairment on marketable equity securities																																-355,644				0	0	597,000	285,000											0
gain
unrealized gain on derivative investments																															864,000		933,000	722,000	-1,791,000
decrease																															151,000											-50,000	1,334,000
decrease (increase) in other assets related to operations																															4,337,000
cash received from revenue																														34,179,000	41,285,000
proceeds from the exercise of stock options																														5,000	40,000	-46,879	0	0	47,000
cash (used) in financing activities																														5,000	-1,645,000
recovery of deferred income taxes																														-2,141,000	-1,137,000	3,051,325	-564,000	153,000	-2,656,000	-419,000	-607,000	-856,000	-1,867,000	-9,457,000
gain on sale of marketable securities																																	0			0	0	0	-22,000
unrealized loss on derivative investments
decrease in vat taxes receivable, net of collection of 2,937
loss on sale of marketable securities																															1,871,000
issuance of flow-through common shares
proceeds from short-term bank indebtedness
return of capital distribution																																3,055,941	-1,561,000	0	-1,498,000	0	-1,497,000	0	-1,489,000
cash from (used) in financing activities																																-40,160,273
impairment of investment in minera santa cruz s.a.
impairment of mineral property interests and property and equipment																																								20,860,000	1,198,000			0			6,287,000
shares issued to supplier for settlement of accounts payable
decrease in vat taxes receivable, net of collection of 5,864
(increase) in other assets related to operations
cash received from gold and silver sales																																	13,430,000	15,110,000	14,833,000	11,162,000	13,423,000	14,613,000	20,319,000	10,932,000	21,535,000	15,726,000	21,985,000	8,853,000	11,637,000	11,130,000	11,514,000	10,069,000	13,128,000
acquisition of mineral property interests																																				-35,000	0	-5,500,000	-450,000
acquisition costs of lexam vg gold, net of cash and cash equivalents acquired																																	0
acquisition of investments																																				-1,901,000	-2,120,000
increase in cash and cash equivalents																																	44,181,000	-4,109,000	-8,550,000	-1,372,000	2,063,000	2,126,000	8,749,000	-5,028,000			4,189,000							-4,878,000	-17,735,000	27,717,000	-20,544,000	-21,690,000	68,223,000				-6,685,682
cash and cash equivalents, beginning of period																																	0	0	37,440,000	0	0	0	25,874,000	0	0	0	12,380,000	0	0	24,321,000	0	0	70,921,000	0	0	13,416,000	0	0	6,818,000	0	0	27,690,000	0	0	10,299,941	0	0	30,929,227	50,921,877
cash and cash equivalents, end of period																																	44,181,000	-4,109,000	28,890,000	-1,372,000	2,063,000	2,126,000	34,623,000	-5,028,000	8,531,000	5,802,000	16,569,000	2,473,000	-4,322,000	19,471,000	-3,711,000	-10,349,000	45,122,000	-4,878,000	-17,735,000	41,133,000	-20,544,000	-21,690,000	75,041,000	-7,491,000	5,008,000	19,898,000	-6,685,682	44,235,613	6,642,176	-6,245,291	-4,131,636	26,154,185	35,390,321
decrease in vat taxes receivable, net of collection of 1,610
proceeds from reimbursement of equipment deposit
loss on reimbursement of equipment deposit
accretion of asset retirement obligation																																		116,000	105,000		125,000	133,000	124,000	-268,000	106,000	490,000	101,000	100,000	108,000	101,000	113,000	121,000	113,000	110,000	120,000	112,000	134,000	137,000	129,000	89,000	116,000	71,000	169,067	133,393	132,921	254,540	139,587	140,385	192,593
decrease in vat taxes receivable, net of collection of 448																																		-1,939,000	-2,040,000
lease incentive received
decrease in restricted time deposits for reclamation bonding
deposits for surety bonds for reclamation bonding
cash from (used) in investing activities
cash from provided from financing activities
impairment of investment in minera santa cruz s.a., net of amortization
lease incentive
revision of estimates and accretion of reclamation obligations
unrealized gain on derivative instrument																																				143,000	197,000
decrease in vat taxes receivable, net of collection of 9,523																																				-946,000	-818,000
shares issued to terminate back-in-right
cash (used in) provided from financing activities																																					130,000
withdrawal of short-term bank indebtedness
investment marketable equity securities
decrease in vat taxes receivable, net of collection of 6,771																																							5,905,000
dividends received from miners santa cruz s.a																																							2,626,000
proceeds from sale of gold and silver bullion held as investments
proceeds from disposal of mineral property interests and property and equipment																																								0
short-term bank indebtedness withdrawal
short-term bank indebtedness paid
return of capital distribution paid																																								-1,000
exercise of stock options																																												1,253,000			76,000	61,000	34,000	260,000			0	493,000	280,000	190,000	75,000	14,000							1,209,554
loss on investment in minera santa cruz s.a., net of amortization																																								-6,378,000
loss on sale of assets																																															-50,000
gain on litigation settlement
loss on sale of gold and silver bullion held as investments
proceeds on sale of gold and silver bullion held as investments
decrease in vat taxes receivable, net of collection of 6,025
shares issued to tnr gold corp. to terminate back-in-right
dividends received from minera santa cruz s.a
short-term bank indebtedness																																									-593,000
gain on sale of assets
increase in vat taxes receivable, net of collection of 4,256
investment in available-for-sale securities
decrease to restrictive time deposits for reclamation bonding
cash used in investing activities
cash provided by financing activities
increase (decrease) in cash and cash equivalents
adjustments to reconcile net income to operating activities:
loss (income) on investment in minera santa cruz s.a., net of amortization
recovery of income taxes
(decrease) increase in liabilities related to operations
proceeds from sale of gold and silver bullion																																																		12,506,000	5,034,000	6,296,000
decrease to restricted time deposits for reclamation bonding
deposit for surety bonds for reclamation bonding
decrease in cash and cash equivalents
income on investment in minera santa cruz s.a., net of amortization
impairment of investment in msc
income tax recovery
unrealized loss on gold and silver bullion
proceeds on sale of gold and silver bullion
decrease in iva taxes receivable, net of collection of 5,049
(income) loss on investment in minera santa cruz s.a., net of amortization
cash flows (used in) from operating activities:
dividend received from minera santa cruz s.a.
cash and short-term investments received from acquisition of minera andes inc.																																																		0	0	36,337,000
short-term investments																																																		0	3,095,000	838,000
loss on sale of gold and silver bullion
unrealized loss on silver bullion																																																		0
dividend receivable obtained from acquisition of minera andes inc.																																																		0	0	9,363,000
dividend receivable from minera santa cruz s.a
cash used in operating activities
loss on investment in minera santa cruz s.a.
gain on sale of gold and silver bullion
deferred income taxes
investment in gold and silver bullion
proceeds from sale of marketable equity securities
increase in restricted investments securing reclamation
sale of common stock for cash, net of issuance costs																																																					0	0	105,415,000				0
income on investment in minera santa cruz s.a.
gain on sale of marketable equity securities
gain on sale of property and equipment
asset impairments																																																		2,902,000
dividend receivable from minera santa cruz s.a.
exercise of stock options and warrants																																																				2,515,000							0			0	0	257,181
loss on disposal of property and equipment
cash proceeds from short-term investments																																																								-33,000
write-off of mineral property interests																																																								0
proceeds from sale of gold bullion																																																						0	2,173,000
increase in restriced investments securing reclamation
gain on sale of gold bullion
cash flows used in operating activities:
cash flows from (used in) investing activities:
investment in gold bullion
increase to restricted investments securing reclamation
(gain) loss on disposal of property and equipment
change in interest receivable																																																																	134,280
other operating adjustments and write-downs
(gain) loss on disposal of asset
decrease to restricted investments securing reclamation
increase in short-term investments
cash flows (used in) from investing activities:
decrease (increase) to restricted investments securing reclamation
stock option expense																																																											288,965	350,887	383,799	188,895	-279,157	506,714	1,118,885
foreign exchange (gain) loss
goodwill impairment
write off of long-lived assets
cash flows used in investing activities:
capital expenditures	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-18,081,000	-24,162,000	-13,347,000	-6,748,000	938,923	-6,000	-588,000	-350,000	-88,000	-834,000	-107,000	-145,000	-242,000	0	0	0	0	0	0		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
free cash flows	12,103,000	5,215,000	478,000	-1,932,000	-1,212,000	23,179,000	3,606,000	3,881,000	16,405,000	-2,280,000	-25,154,000	-28,608,000	-8,057,000	-6,197,000	-28,735,000	-15,620,000	-11,003,000	2,070,000	-10,143,000	-2,600,000	-5,174,000	-8,191,000	-11,908,000	-17,611,000	-12,764,000	1,669,000	-10,821,000	-16,760,000	-25,617,000	-23,814,000	4,340,000	10,146,489	2,423,000	-5,390,000	-7,200,000	687,000	4,024,000	4,738,000	14,563,000	-1,281,000	10,669,000	352,000	5,615,000	-2,317,000	-3,212,000	-3,884,000		-10,191,000	-24,994,000	-20,825,000	-26,269,000	-16,387,000	-17,852,000	-13,096,000	-9,245,000	-7,003,000	-5,804,000	-6,527,000	-8,507,368	-2,410,184	-3,402,420	-5,916,920	-4,087,629	-4,548,275
decrease (increase) in restricted investments securing reclamation																																																													58,511
cash from acquisitions																																																																	6,133,471
acquisition costs for mineral property interests
payments on installment purchase contracts
impairment of goodwill
minority interest
decrease in other assets
income taxes paid
sale of subscription receipts for cash, net of issuance costs
reconciliation of net (loss) to cash from operating activities:
change in value of derivative
minority interests
cash (used in) operating activities																																																																	-18,508,505
net																																																																	-17,125,880
items not providing/requiring cash:
(payments on) installment purchase contracts
reconciliation of net (loss) to cash (used in) operating activities:

McEwen Mining Inc(NYSE:MUX)

McEwen Mining Inc
(NYSE:MUX)