McEwen Mining (MUX) 10-Q18 May 202020 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2020	May 18, 2020
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-33190
Entity Registrant Name	MCEWEN MINING INC.
Entity Incorporation, State or Country Code	CO
Entity Tax Identification Number	84-0796160
Entity Address, Address Line One	150 King Street West
Entity Address, Address Line Two	Suite 2800
Entity Address, City or Town	Toronto
Entity Address, State or Province	ON
Entity Address, Country	CA
Entity Address, Postal Zip Code	M5H 1J9
City Area Code	866
Local Phone Number	441-0690
Title of 12(b) Security	Common stock, no par value
Trading Symbol	MUX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		400,398,425
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000314203
Amendment Flag	false

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
REVENUE:
Revenue	$ 31,400	$ 15,583
OPERATING EXPENSES:
Production costs applicable to sales	(28,387)	(11,148)
Depreciation and depletion	(6,698)	(3,006)
Gross (loss) profit	(3,685)	1,429
OTHER OPERATING EXPENSES:
Advanced projects	(2,550)	(2,647)
Exploration	(3,790)	(4,150)
General and administrative	(2,064)	(2,261)
Loss from investment in Minera Santa Cruz S.A. (note 9)	(2,676)	(2,310)
Depreciation	(115)	(152)
Revision of estimates and accretion of asset retirement obligations (note 11)	(660)	(461)
Impairment of mineral property interests and plant and equipment (note 8)	(83,805)
Operating loss	(99,345)	(10,552)
OTHER INCOME (EXPENSE):
Interest and other finance expense, net	(1,877)	(513)
Other income (note 4)	937	1,047
Total other income (expense)	(940)	534
Loss before income and mining taxes	(100,285)	(10,018)
Income and mining tax recovery (expense)	1,094	(118)
Net loss	$ (99,191)	$ (10,136)
Net loss per share (note 13):
Basic and Diluted (in dollars per share)	$ (0.25)	$ (0.03)
Weighted average common shares outstanding (thousands) (note 13):
Basic and Diluted (in shares)	400,370	338,557
Gold and silver sales
REVENUE:
Revenue	$ 31,400	$ 15,583
Production costs applicable to sales
OPERATING EXPENSES:
Production costs applicable to sales	$ (28,387)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 28,774	$ 46,452
Investments (note 5)	875	1,885
Receivables, prepaids and other assets (note 6)	5,138	5,265
Inventories (note 7)	38,327	38,376
Total current assets	73,114	91,978
Mineral property interests and plant and equipment, net (note 8)	333,651	418,791
Investment in Minera Santa Cruz S.A. (note 8)	107,507	110,183
Inventories, long-term (note 7)	8,685	9,603
Other assets	669	668
TOTAL ASSETS	523,626	631,223
Current liabilities:
Accounts payable and accrued liabilities	27,805	34,070
Debt, current portion (note 10)	8,000	5,000
Debt to related party, current portion (note 10)	8,000	5,000
Lease liabilities, current portion	2,117	2,115
Asset retirement obligation, current portion (note 11)	1,905	2,610
Total current liabilities	47,827	48,795
Lease liabilities, long-term	4,356	5,018
Debt (note 10)	16,799	19,758
Debt to related party (note 10)	16,799	19,758
Asset retirement obligation, long-term (note 11)	29,998	29,591
Other liabilities	3,604	3,910
Deferred income and mining tax liability	3,805	4,914
Total liabilities	123,188	131,744
Shareholders' equity:
Common stock and additional paid-in capital, no par value, 500,000 shares authorized (in thousands); Common: 400,399 as of March 31, 2020 and 400,339 as of December 31, 2019 issued and outstanding (in thousands) (note 12)	1,530,852	1,530,702
Accumulated deficit	(1,130,414)	(1,031,223)
Total shareholders' equity	400,438	499,479
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY	$ 523,626	$ 631,223

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Mar. 31, 2020	Dec. 31, 2019
CONSOLIDATED BALANCE SHEETS
Common stock, par value	$ 0	$ 0
Common stock, shares authorized	500,000	500,000
Common, shares issued	400,399	400,339
Common, shares outstanding	400,399	400,339

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock and Additional Paid-in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2018	$ 1,457,422	$ (971,476)	$ 485,946
Balance (in shares) at Dec. 31, 2018	344,560,000
Increase (Decrease) in Shareholders' Equity
Stock-based compensation	$ 61		61
Exercise of stock options	$ 223		$ 223
Exercise of stock options (in shares)	222,000		221,500
Units Issued for cash, net of share issue cost	$ 20,252		$ 20,252
Units Issued for cash, net of share issue cost (in shares)	14,194,000
Shares issued for acquisition of mineral property interests	$ 1,851		1,851
Shares issued for acquisition of mineral property interests (in shares)	1,010,000
Net loss		(10,136)	(10,136)
Balance at Mar. 31, 2019	$ 1,479,809	(981,612)	498,197
Balance (in shares) at Mar. 31, 2019	359,986,000
Balance at Dec. 31, 2019	$ 1,530,702	(1,031,223)	499,479
Balance (in shares) at Dec. 31, 2019	400,339,000
Increase (Decrease) in Shareholders' Equity
Stock-based compensation	$ 88		88
Exercise of stock options	$ 62		$ 62
Exercise of stock options (in shares)	60,000		60,000
Net loss		(99,191)	$ (99,191)
Balance at Mar. 31, 2020	$ 1,530,852	$ (1,130,414)	$ 400,438
Balance (in shares) at Mar. 31, 2020	400,399,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net loss	$ (99,191)	$ (10,136)
Adjustments to reconcile net loss from operating activities:
Impairment of mineral property interests and plant and equipment (note 8)	83,805
Loss from investment in Minera Santa Cruz S.A., net of amortization (note 9)	2,676	2,310
Depreciation and amortization	6,757	3,186
Loss (gain) on investments (note 5)	898	(827)
Income and mining tax (recovery) expense	(1,094)	118
Stock-based compensation	88	61
Revision of estimates and accretion of asset retirement obligations (note 11)	660	461
Foreign exchange (gain) loss	(868)	301
Change in non-cash working capital items:
Decrease (increase) in other assets related to operations	1,234	(5,875)
(Decrease) in liabilities related to operations	(6,873)	(420)
Cash used in operating activities	(11,908)	(10,821)
Cash flows from investing activities:
Additions to mineral property interests and plant and equipment	(5,503)	(16,512)
Proceeds from sale of investments (note 5)	112
Dividends received from Minera Santa Cruz S.A. (note 9)		2,020
Cash used in investing activities	(5,391)	(14,492)
Cash flows from financing activities:
Proceeds from sale of units, net of share issue costs (note 12)		20,252
Proceeds of at-the-market common stock issuance (note 12)		1,851
Proceeds of exercise of stock options	62	223
Payment of finance lease obligations	(555)	(448)
Cash (used in) provided by financing activities	(493)	21,878
Effect of exchange rate change on cash and cash equivalents	114	(337)
(Decrease) in cash, cash equivalents and restricted cash	(17,678)	(3,772)
Cash, cash equivalents and restricted cash, beginning of period	46,500	30,489
Cash, cash equivalents and restricted cash, end of period (note 17)	28,822	26,717
Supplemental disclosure of cash flow information:
Interest paid	(1,289)	(1,316)
Interest received	$ 135	$ 3

NATURE OF OPERATIONS AND BASIS

NATURE OF OPERATIONS AND BASIS OF PRESENTATION	3 Months Ended
NATURE OF OPERATIONS AND BASIS OF PRESENTATION	Mar. 31, 2020
NATURE OF OPERATIONS AND BASIS OF PRESENTATION
NATURE OF OPERATIONS AND BASIS OF PRESENTATION	NOTE 1 NATURE OF OPERATIONS AND BASIS OF PRESENTATION McEwen Mining Inc. (the “Company”) was organized under the laws of the State of Colorado on July 24, 1979. The Company is engaged in the exploration, development, production and sale of gold and silver and exploration for copper. The Company operates in the United States, Canada, Mexico and Argentina. The Company owns a 100% interest in the Gold Bar gold mine in Nevada, the Black Fox gold mine in Ontario, Canada, the El Gallo Project and the Fenix silver-gold project in Sinaloa, Mexico, the Los Azules copper deposit in San Juan, Argentina and a portfolio of exploration properties in Nevada, Canada, Mexico and Argentina. It also owns a 49% interest in Minera Santa Cruz S.A. (“MSC”), owner of the producing San José silver-gold mine in Santa Cruz, Argentina, which is operated by the joint venture majority owner, Hochschild Mining plc. The interim consolidated financial statements included herein have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and are unaudited. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures included are adequate to make the information presented not misleading. In management’s opinion, the unaudited Consolidated Statements of Operations and Comprehensive Loss Statement of Operations Consolidated Balance Sheets Consolidated Statement of Changes in Shareholders’ Equity Consolidated Statements of Cash Flows

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 SIGNIFICANT ACCOUNTING POLICIES Risks and Uncertainties COVID-19 On March 11, the World Health Organization (“WHO”) declared the COVID-19 virus a global pandemic. As a result of the pandemic, many jurisdictions, including the United States (“US”), some of its political subdivisions, Canada, Mexico and Argentina, instituted restrictions on travel, public gatherings and certain business operations. This lead to significant adverse effects on the Company’s operations. During late March and early April, all the Company’s operations were disrupted by temporary shutdowns to protect its workforce from the spread of the virus. During the shutdowns, rigorous policies and procedures were implemented at each site to minimize potential health and safety risks to the workforce. The temporary shutdowns will adversely impact the Company’s operations, cash flow, and liquidity in the second quarter of 2020. However, the full impact of the COVID normal capacity can be sustained and whether ongoing operating costs will be adversely affected. Depending on the length and severity of the outbreak, the Company’s liquidity and financial condition may be adversely affected and the Company may be at an increased risk of default under its debt agreements. Achieving normal operating capacity is also dependant on the continued availability of supplies, which is out of the Company’s control. Management is actively monitoring the global situation on its financial condition, liquidity, operations, suppliers, industry and workforce . As of May 18, 2020, the date on which these financial statements were authorized for issuance, the global situation remains uncertain. The governments of the US, Canada, Mexico and Argentina have enacted or proposed legislation to provide relief to companies and/or individuals affected by the enforced reduction in operations. The Company is in the process of applying for available relief. It is highly uncertain if the Company would qualify for funding under these relief programs, and if the Company does qualify, how much funding would be available. Going Concern In the preparation of the interim financial statements, management is required to identify when events or conditions indicate that substantial doubt may exist about the Company’s ability to continue as a going concern. Substantial doubt about the Company’s ability to continue as a going concern would exist when relevant conditions and events, considered in aggregate, indicate that the Company may not be able to meet its obligations as they become due for a period of at least, but not limited to, 12 months from the balance sheet date. When the Company identifies conditions or events that raise potential for substantial doubt about its ability to continue as a going concern, the Company considers whether its plans that are intended to mitigate those relevant conditions or events will alleviate the potential substantial doubt. The Company is in full compliance with financial covenants under its outstanding credit agreement as at March 31, 2020. However, as a result of the expected significant resource reduction at the Gold Bar mine, resulting in an initial revised mine plan which yields less cash flow coupled with the disruptions to operations caused by the COVID-19 pandemic, there is uncertainty about the Company’s ability to remain in compliance with certain of these financial covenants over the next twelve months. Non-compliance with these covenants would result in a breach under the Company’s debt agreement and the lender’s right to accelerate the balance due under the agreement. In response to this uncertainty, the Company is in discussions with its lenders to seek relief from certain of these financial covenants and evaluating options to re-finance the debt, raise additional equity, and curtail discretionary expenditures. The Company’s ability to continue as a going concern is dependent on the successful completion of one or more of these initiatives to ensure that it has sufficient liquidity available to satisfy these financial covenants and in order to fund its operations. After considering these plans, management has concluded that it has mitigated the risk of material uncertainties relating to events or conditions that may cast substantial doubt upon the Company’s ability to continue as a going concern for a period of 12 months from the consolidated balance sheet date. The estimates used by management in reaching this conclusion are based on information available as at the date these financial statements were authorized for issuance, and include internally generated cash flow forecasts. Accordingly, actual results could differ from these estimates and resulting variances may be material to management’s assessment. Recently Adopted Accounting Pronouncements Changes to the Disclosure Requirements for Fair Value Measurement: Recently Issued Accounting Pronouncements Income Taxes: is effective for the Company for the fiscal years beginning after December 15, 2020, with early adoption permitted. The Company is currently evaluating the effect of this amendment and the impact it may have on the Company’s consolidated financial statements. Reclassifications Certain amounts in the comparative Statement of Operations Advanced projects Statement of Operations Exploration Statement of Operations General and Administrative Statement of Operations

OPERATING SEGMENT REPORTING

OPERATING SEGMENT REPORTING	3 Months Ended
OPERATING SEGMENT REPORTING	Mar. 31, 2020
OPERATING SEGMENT REPORTING
OPERATING SEGMENT REPORTING	NOTE 3 OPERATING SEGMENT REPORTING McEwen Mining Inc. is engaged in the exploration, development, production and sale of gold and silver and exploration for copper, with operations located in the United States, Canada, Mexico and Argentina. The Company’s chief operating decisions maker (“CODM”) reviews the operating results, assesses performance and makes decisions about allocation of resources to these segments at the geographic region level or major mine/project where the economic characteristics of the individual mines or projects are not alike. As a result, these operating segments also represent the Company’s reportable segments. The Company’s business activities that are not considered operating segments are included in General and Administrative and other The CODM reviews segment income (loss) defined as gold and silver sales less production costs applicable to sales, depreciation and depletion, advanced projects and exploration costs for all segments except for the MSC segment which is evaluated based on the attributable equity income or loss. Gold and silver sales and production costs applicable to sales for the reportable segments are reported net of intercompany transactions. Production costs applicable to sales for the El Gallo project of $4.2 million for the three months ended March 31, 2020 (same period in 2019 - $4.5 million) include $1.7 million of residual leaching spending in the period, net of $1.1 million capitalized on inventory (same period in 2019 - $1.8 million, net of $1.1 million capitalized on inventory) with the rest representing costs recorded in the leach pad inventory balances in prior periods. Capital expenditures include costs capitalized in mineral property interests and plant and equipment in the respective periods. Significant information relating to the Company’s reportable operating segments is summarized in the tables below: Three months ended March 31, 2020 USA Canada Mexico MSC Los Azules Total Revenue from gold and silver sales $ 14,317 $ 12,739 $ 4,344 $ — $ — $ 31,400 Production costs applicable to sales (17,032) (7,207) (4,148) — — (28,387) Depreciation and depletion (3,862) (2,748) (88) — — (6,698) Gross (loss) profit (6,577) 2,784 108 — — (3,685) Advanced projects (366) (1,066) (1,118) — — (2,550) Exploration (809) (2,405) — — (576) (3,790) Loss from investment in Minera Santa Cruz S.A. — — — (2,676) — (2,676) Impairment of mineral property interests and plant and equipment (note 8) (83,805) — — — — (83,805) Segment loss $ (91,557) $ (687) $ (1,010) $ (2,676) $ (576) $ (96,506) General and Administrative and other (3,779) Loss before income and mining taxes $ (100,285) Capital expenditures $ 1,807 3,729 — — — $ 5,536 Three months ended March 31, 2019 USA Canada Mexico MSC Los Azules Total Revenue from gold and silver sales $ 842 $ 8,943 $ 5,798 $ — $ — $ 15,583 Production costs applicable to sales (808) (5,835) (4,505) — — (11,148) Depreciation and depletion (152) (2,710) (144) — — (3,006) Gross (loss) profit (118) 398 1,149 — — 1,429 Advanced projects (195) — (2,452) — — (2,647) Exploration (613) (2,420) — — (1,117) (4,150) Loss from investment in Minera Santa Cruz S.A. — — — (2,310) — (2,310) Segment (loss) $ (926) $ (2,022) $ (1,303) $ (2,310) $ (1,117) $ (7,678) General and Administrative and other (2,340) Loss before income and mining taxes $ (10,018) Capital expenditures $ 13,008 $ 3,343 $ — $ — $ — $ 16,351 Geographic information Geographic information includes the long-lived assets balance and revenues presented for the Company’s operating segments, as follows: Long-lived Assets Revenue (1) March 31, December 31, Three months ended March 31, 2020 2019 2020 2019 USA $ 50,599 $ 135,854 $ 14,317 $ 842 Canada 78,505 77,147 12,739 8,943 Mexico 21,457 23,551 4,344 5,798 Argentina (2) 298,997 302,598 — — Total consolidated (3) $ 449,558 $ 539,150 $ 31,400 $ 15,583 (1) Presented based on the location from which the product originated. (2) Includes Investment in MSC of $107.5 million as of March 31, 2020 (December 31, 2019 – $110.2 million). (3) Total excludes $0.9 million related to the Company's office lease asset as the business activities related to corporate are not considered to be a part of the operating segments .

OTHER INCOME

OTHER INCOME	3 Months Ended
OTHER INCOME	Mar. 31, 2020
OTHER INCOME
OTHER INCOME	NOTE 4 OTHER INCOME The following is a summary of other income for the three months ended and 2019 : Three months ended March 31, 2020 2019 Unrealized and realized (loss) gain on investments (note 5) $ (898) $ 827 Foreign currency gain 1,808 163 Other income, net 27 57 Total other income $ 937 $ 1,047

INVESTMENTS

INVESTMENTS	3 Months Ended
INVESTMENTS	Mar. 31, 2020
INVESTMENTS
INVESTMENTS	NOTE 5 INVESTMENTS The following is a summary of the activity in investments for the three months ended March 31, 2020 and 2019: As at Additions/ Disposals/ Unrealized Fair value December 31, transfers during Net (loss) on transfers during (loss) on March 31, 2019 period securities sold period securities held 2020 Marketable equity securities $ 1,885 $ — $ (16) $ (112) $ (882) $ 875 As at Additions/ Net gain Disposals/ Unrealized Fair value December 31, transfers during (loss) on transfers during gain on March 31, 2018 period securities sold period securities held 2019 Marketable equity securities $ 2,718 $ 264 $ — $ — $ 605 $ 3,587 Warrants 413 — — — 222 635 Investments $ 3,131 $ 264 $ — $ — $ 827 $ 4,222 During the three months ended March 31, 2020, the Company sold marketable equity securities for proceeds of $0.1 million (2019 - $nil The cost of marketable equity securities at March 31, 2020 was $1.2 million (December 31, 2019 – $1.3 million).

RECEIVABLES, PREPAIDS AND OTHER

RECEIVABLES, PREPAIDS AND OTHER ASSETS	3 Months Ended
RECEIVABLES, PREPAIDS AND OTHER ASSETS	Mar. 31, 2020
RECEIVABLES, PREPAIDS AND OTHER ASSETS
RECEIVABLES, PREPAIDS AND OTHER ASSETS	NOTE 6 RECEIVABLES, PREPAIDS AND OTHER ASSETS The following is a breakdown of balances in receivables, prepaids and other assets as at and December 31, 2019: March 31, 2020 December 31, 2019 Government sales tax receivable $ 1,468 $ 2,658 Prepaids and other assets 3,670 2,607 Receivables and other current assets $ 5,138 $ 5,265 Government sales tax receivable includes $0.5 million of Mexican value added tax (“VAT”) at March 31, 2020 (December 31, 2019 – $0.7 million). The Company collected $0.4 million of VAT during the three months ended March 31, 2020 (March 31, 2019 – $0.1 million).

INVENTORIES

INVENTORIES	3 Months Ended
INVENTORIES	Mar. 31, 2020
INVENTORIES
INVENTORIES	NOTE 7 INVENTORIES Inventories at and December 31, 2019 consisted of the following: March 31, 2020 December 31, 2019 Material on leach pads $ 36,627 $ 37,328 In-process inventory 2,806 3,847 Stockpiles 1,620 1,384 Precious metals 1,486 1,038 Materials and supplies 4,473 4,382 Inventories $ 47,012 $ 47,979 Less current portion 38,327 38,376 Long-term portion $ 8,685 $ 9,603 During the three months ended March 31, 2020 the inventory of Gold Bar Mine was written down to its net realizable value; of this amount, $1.2 million was included in production costs applicable to sales (March 31, 2019 - $nil).

MINERAL PROPERTY INTERESTS AND

MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT	3 Months Ended
MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT	Mar. 31, 2020
MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT
MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT	NOTE 8 MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT The definition of proven and probable reserves is set forth in the SEC Industry Guide 7. If proven and probable reserves exist at the Company’s properties, the relevant capitalized mineral property interests and asset retirement costs are charged to expense based on the units of production method upon commencement of production. The Company’s Gold Bar, Black Fox and San José properties have proven and probable reserves estimated in accordance with SEC Industry Guide 7. The Company reviews and evaluates its long-lived assets for impairment on a quarterly basis or when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Once it is determined that impairment exists, an impairment loss is measured as the amount by which the asset carrying value exceeds its fair value. As part of the analysis, the Company determined during the quarterly period ended March 31, 2020 that indicators of impairment existed for the long-lived assets at the Gold Bar mine and that the long-lived assets at the Gold Bar mine were not recoverable on an undiscounted basis. The fair value of the Gold Bar mine was determined using the discounted cash flow method, coupled with an in-situ resource multiple for mineralized material not included in the life of mine plan. Future cash flows were estimated based on estimated quantities of recoverable mineralized material, expected gold prices, estimated production levels, operating costs, capital requirements and reclamation costs, all based on the life-of-mine plan using the preliminary estimated resources. The in-situ resource multiple applied to the mineralized material not included in the life-of-mine plan was estimated by evaluating observable market transactions. The Company concluded that the carrying value of the long-lived assets at the Gold Bar mine was impaired and recorded a non-cash impairment charge reducing plant and equipment and mineral property interests by the amount of $83.8 million as at March 31, 2020. The following table sets forth a summary of the quantitative and qualitative information related to the unobservable inputs used in the calculation of the Company’s non-recurring Level 3 fair value measurement for the three months ended March 31, 2020: As at March 31, 2020 Date of Fair Value Measurement Valuation Technique Unobservable Input Range/ Weighted Average Gold Bar Mine March 31, 2020 Discounted Cash Flow Discount Rate 9% Long Term Gold Price $1,430/oz United States Inflation Index 2% The future cash flows are based on numerous assumptions and uncertainties. It is possible that actual future cash flows will be significantly different than the estimates, as actual future quantities of recoverable minerals, gold prices, production levels and costs of capital are each subject to significant risks and uncertainties.

INVESTMENT IN MINERA SANTA CRUZ

INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE	3 Months Ended
	Mar. 31, 2020
INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE
INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE	NOTE 9 INVESTMENT IN MINERA SANTA CRUZ S.A. (“MSC”) – SAN JOSÉ MINE The Company accounts for investments over which it exerts significant influence but does not control through majority ownership using the equity method of accounting. In applying the equity method of accounting to the Company’s investment in MSC, MSC’s financial statements, which are originally prepared by MSC in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board, have been adjusted to conform with U.S. GAAP. As such, the summarized financial data presented under this heading is in accordance with U.S. GAAP. A summary of the operating results from MSC for the three months ended March 31, 2020 and 2019 is as follows: Three months ended March 31, 2020 2019 Minera Santa Cruz S.A. (100%) Revenue from gold and silver sales $ 37,390 $ 47,885 Production costs applicable to sales (28,316) (29,533) Depreciation and depletion (7,327) (15,380) Gross profit 1,747 2,972 Exploration (2,866) (3,338) Other expenses (2,217) (1,617) Net (loss) before tax $ (3,336) $ (1,983) Current and deferred tax expense 49 (789) Net loss $ (3,287) $ (2,772) Portion attributable to McEwen Mining Inc. (49%) Net loss $ (1,611) $ (1,358) Amortization of fair value increments (1,385) (1,913) Income tax recovery 320 961 Loss from investment in MSC, net of amortization $ (2,676) $ (2,310) The loss from investment in MSC attributable to the Company includes the amortization of the fair value increments arising from the initial purchase price allocation and related income tax recovery. The income tax recovery reflects the impact of devaluation of the Argentine peso against the U.S. dollar on the peso-denominated deferred tax liability recognized at the time of acquisition. Changes in the Company’s investment in MSC for the three months ended March 31, 2020 and year ended December 31, 2019 are as follows: March 31, 2020 December 31, 2019 Investment in MSC, beginning of period $ 110,183 $ 127,814 Attributable net loss from MSC (1,611) (2,097) Amortization of fair value increments (1,385) (9,448) Income tax recovery 320 2,791 Dividend distribution received — (8,877) Investment in MSC, end of period $ 107,507 $ 110,183 During the three months ended March 31, 2020, the Company received $nil A summary of the key assets and liabilities of MSC as at March 31, 2020, before and after adjustments to fair value on acquisition and amortization of the fair value increments arising from the purchase price allocation, are as follows: As at March 31, 2020 Balance excluding FV increments Adjustments Balance including FV increments Current assets $ 86,238 $ 1,102 $ 87,340 Total assets $ 185,137 $ 116,609 $ 301,746 Current liabilities $ (46,692) $ — $ (46,692) Total liabilities $ (76,759) $ (5,585) $ (82,344)

DEBT

DEBT	3 Months Ended
DEBT	Mar. 31, 2020
DEBT
DEBT	NOTE 10 DEBT On August 10, 2018, the Company finalized a $50.0 million senior secured three year term loan facility with Royal Capital Management Corp., an administrative agent, and the lenders party thereto (“Lenders”). An affiliate of Robert McEwen, Chairman and Chief Executive Officer and the beneficial owner of 20% of the Company’s current outstanding common stock, contributed $25.0 million of the $50.0 million total term loan. The loan bears interest at 9.75% per annum with interest due monthly and is secured by a lien on certain of the Company’s and its subsidiaries’ assets. Scheduled payments on the loan are as follows: $2.0 million monthly payments starting in August 2020 for 12 months and a final $26.0 million payment on August 10, 2021. A reconciliation of the Company’s long-term debt for the three months ended March 31, 2020 and for the year ended December 31, 2019 is as follows: Three months ending March 31, 2020 Year ending December 31, 2019 Balance, beginning of period 49,516 49,206 Interest expense 1,297 5,185 Interest payments (1,215) (4,875) Balance, end of period $ 49,598 $ 49,516 Less current portion 16,000 10,000 Long-term portion $ 33,598 $ 39,516 During the three months ended March 31, 2020; $nil (March 31, 2019 – $0.6 million) of interest was capitalized in plant and equipment as construction costs for the Gold Bar mine. The scheduled remaining minimum interest payments are $3.5 million in 2020 and $2.0 million in 2021.

ASSET RETIREMENT OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS	3 Months Ended
ASSET RETIREMENT OBLIGATIONS	Mar. 31, 2020
ASSET RETIREMENT OBLIGATIONS
ASSET RETIREMENT OBLIGATIONS	NOTE 11 ASSET RETIREMENT OBLIGATIONS The Company is responsible for reclamation of certain past and future disturbances at its properties. The most significant properties subject to these obligations are the Gold Bar and Tonkin properties in Nevada, the Timmins properties in Canada and the El Gallo Project in Mexico. A reconciliation of the Company’s asset retirement obligations for the three months ended March 31, 2020 and for the year ended December 31, 2019 are as follows: March 31, 2020 December 31, 2019 Asset retirement obligation liability, beginning balance $ 32,201 $ 29,402 Settlements (90) (513) Accretion of liability 457 1,680 Adjustment reflecting updated estimates 262 1,012 Foreign exchange revaluation (927) 620 Asset retirement obligation liability, ending balance $ 31,903 $ 32,201 Less current portion 1,905 2,610 Long-term portion $ 29,998 $ 29,591 The Company’s reclamation expenses consisted of the following: Three months ended March 31, 2020 2019 Reclamation adjustment reflecting updated estimates $ 203 $ 64 Reclamation accretion 457 397 Total $ 660 $ 461

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	3 Months Ended
SHAREHOLDERS' EQUITY	Mar. 31, 2020
SHAREHOLDERS' EQUITY
SHAREHOLDERS' EQUITY	NOTE 12 SHAREHOLDERS’ EQUITY Equity Issuances March 2019 Registered Offering On March 29, 2019, the Company issued 14,193,548 Units at $1.55 per Unit, for net proceeds of $20.3 million (net of issuance costs of $1.7 million). Each Unit consisted of one common share and one On March 29, 2019, the Company also issued 1,935,484 Subscription Receipts at $1.55 per Subscription Receipt to certain of our executive officers, directors, employees and consultants. Upon shareholder and NYSE approval on May 23, 2019, the Subscription Receipts were converted into 1,935,484 Units for net proceeds of $2.6 million (net of issuance costs of $0.4 million). All Units issued under the offering have consistent terms. At-the-market (“ATM”) Offering Pursuant to an equity distribution agreement dated November 8, 2018, the Company was permitted to offer and sell from time to time shares of its common stock having an aggregate offering price of up to $90.0 million, with the net proceeds to fund working capital and general corporate purposes. During the three months ended March 31, 2019, the Company issued an aggregate of 1,010,545 common shares for gross and net proceeds of $1.9 million. The Company terminated the agreement on March 13, 2019. Stock Options During the three months ended March 31, 2020, the Company issued 60,000 common shares for proceeds of $0.1 million upon the exercise of the same number of stock options at a weighted average exercise price of $1.06 per share. During the same period in 2019, the Company issued 221,500 common shares for proceeds of $0.2 million upon the exercise of the same number of stock options at a weighted average exercise price of $1.00 per share. Shareholders’ Distributions No distributions were paid during the three months ended March 31, 2020 or 2019. Pursuant to the term loan facility dated August 10, 2018 ( Note 10

NET LOSS PER SHARE

NET LOSS PER SHARE	3 Months Ended
NET LOSS PER SHARE	Mar. 31, 2020
NET LOSS PER SHARE
NET LOSS PER SHARE	NOTE 13 NET LOSS PER SHARE Basic net loss per share is computed by dividing the net loss attributable to common shareholders by the weighted average number of common shares outstanding during the period. Potentially dilutive instruments are not included in the calculation of diluted net loss per share for the three months ended March 31, 2020 and 2019, as they would be anti-dilutive. For the three months ended March 31, 2020, all of the outstanding options (4,430,784) and all of the outstanding warrants (29,770,766) were excluded from the computation of diluted loss per share (March 31, 2019 – 3,838,317 outstanding options and 7,096,744 outstanding warrants).

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
RELATED PARTY TRANSACTIONS	Mar. 31, 2020
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 14 RELATED PARTY TRANSACTIONS The Company recorded the following expense in respect to the related parties outlined below during the periods presented: Three months ended March 31, 2020 2019 Lexam L.P. $ 76 $ 61 REVlaw 38 41 The Company has the following outstanding accounts payable balances in respect to the related parties outlined below: March 31, 2020 December 31, 2019 Lexam L.P. $ 76 $ 65 REVlaw $ 20 $ 12 An aircraft owned by Lexam L.P. which is controlled by Robert R. McEwen, limited partner and beneficiary of Lexam L.P. and the Company’s Chairman and Chief Executive Officer, has been made available to the Company in order to expedite business travel. In his role as Chairman and Chief Executive Officer of the Company, Mr. McEwen must travel extensively and frequently on short notice. Mr. McEwen is able to charter the aircraft from Lexam L.P. at a preferential rate approved by the Company’s independent board members under a policy whereby only the variable expenses of operating this aircraft for business related travel are eligible for reimbursement by the Company. REVlaw is a company owned by Ms. Carmen Diges, General Counsel of the Company. The legal services of Ms. Diges as General Counsel and other support staff, as needed, are provided by REVlaw in the normal course of business and have been recorded at their exchange amount. An affiliate of Mr. McEwen participated as a lender in the $50.0 million term loan by providing $25.0 million of the total $50.0 million funding. During the three months ended March 31, 2020, the Company paid $0.6 million (three months ended March 31, 2019 – $0.6 million) in interest to this affiliate . Note 10

FAIR VALUE ACCOUNTING

FAIR VALUE ACCOUNTING	3 Months Ended
FAIR VALUE ACCOUNTING	Mar. 31, 2020
FAIR VALUE ACCOUNTING
FAIR VALUE ACCOUNTING	NOTE 15 FAIR VALUE ACCOUNTING As required by accounting guidance, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Assets and liabilities measured at fair value on a recurring basis. The following table identifies the Company’s assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy as at March 31, 2020 and December 31, 2019, as reported in the Consolidated Balance Sheets Fair value as at March 31, 2020 Fair value as at December 31, 2019 Level 1 Level 2 Total Level 1 Level 2 Total Marketable equity securities $ 875 $ — $ 875 $ 1,885 $ — $ 1,885 The Company’s investments consist of marketable equity securities which are exchange-traded and are valued using quoted market prices in active markets and as such are classified within Level 1 of the fair value hierarchy. The fair value of the investments is calculated as the quoted market price of the marketable equity security multiplied by the quantity of shares held by the Company. During the three months ended March 31, 2020, the Company recorded an impairment of long-lived assets at the Gold Bar Mine totaling $83.8 million based on Level 3 inputs. See Note 8 Debt is recorded at amortized cost of $49.6 million (December 31, 2019 – $49.5 million). The debt is not traded on quoted markets. Based on Level 3 inputs, the fair market value of the debt approximates its carrying value due to its short maturity of 17 months. The fair value of other financial assets and liabilities were assumed to approximate their carrying values due to their short-term nature and historically negligible credit losses.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2020
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 16 COMMITMENTS AND CONTINGENCIES In addition to the commitments for payments on operating and finance leases and the repayment of long-term debt (Note 10), as at March 31, 2020, the Company has the following commitments and contingencies: Reclamation Obligations As part of its ongoing business and operations, the Company is required to provide bonding for its environmental reclamation obligations of $20.1 million (Nevada, United States) pertaining primarily to the Tonkin and the Gold Bar properties and $10.5 million (C$14.9 million) in Canada with respect to the Black Fox Complex. In addition, under Canadian regulations, the Company was required to deposit approximately $0.1 million with respect to its Lexam properties in Timmins, which is recorded as restricted cash in other assets ( Note 17) Surety Bonds As at March 31, 2020, the Company has a surety facility in place to cover all its bonding obligations, which include $20.1 million of bonding in Nevada and $10.5 million (C$14.9 million) of bonding in Canada. The terms of the facility carry an annual financing fee of 2% and no deposit requirements. The surety bonds are available for draw down by the beneficiary in the event the Company does not perform its reclamation obligations. If the specific reclamation requirements are met, the beneficiary of the surety bonds will release the instrument to the issuing entity. The Company believes it is in compliance with all applicable bonding obligations and will be able to satisfy future bonding requirements, through existing or alternative means, as they arise. Streaming Agreement As part of the acquisition of the Black Fox Complex in 2017, the Company assumed a gold purchase agreement (streaming contract) related to production from certain land claims. The Company is obligated to sell 8% of gold production from the Black Fox mine and 6.3% from the adjoining Pike River property (Black Fox extension) to Sandstorm Gold Ltd. at the lesser of market price or $561 per ounce (with inflation adjustments of up to 2% per year) until 2090. The Company records the revenue from these shipments based on the contract price at the time of delivery to the customer. During the three months ended March 31, 2020, the Company recorded revenue of $0.5 million (March 31, 2019 – $0.4 million) related to the gold stream sales.

CASH AND CASH EQUIVALENTS AND R

CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	3 Months Ended
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	Mar. 31, 2020
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	NOTE 17 CASH, CASH EQUIVALENTS AND RESTRICTED CASH The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported in the Consolidated Balance Sheets Consolidated Statements of Cash flows March 31, 2020 December 31, 2019 Cash and cash equivalents $ 28,774 $ 46,452 Restricted cash included in other assets 48 48 Total cash, cash equivalents, and restricted cash $ 28,822 $ 46,500

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Mar. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES.
Risks and Uncertainties	Risks and Uncertainties COVID-19 On March 11, the World Health Organization (“WHO”) declared the COVID-19 virus a global pandemic. As a result of the pandemic, many jurisdictions, including the United States (“US”), some of its political subdivisions, Canada, Mexico and Argentina, instituted restrictions on travel, public gatherings and certain business operations. This lead to significant adverse effects on the Company’s operations. During late March and early April, all the Company’s operations were disrupted by temporary shutdowns to protect its workforce from the spread of the virus. During the shutdowns, rigorous policies and procedures were implemented at each site to minimize potential health and safety risks to the workforce. The temporary shutdowns will adversely impact the Company’s operations, cash flow, and liquidity in the second quarter of 2020. However, the full impact of the COVID normal capacity can be sustained and whether ongoing operating costs will be adversely affected. Depending on the length and severity of the outbreak, the Company’s liquidity and financial condition may be adversely affected and the Company may be at an increased risk of default under its debt agreements. Achieving normal operating capacity is also dependant on the continued availability of supplies, which is out of the Company’s control. Management is actively monitoring the global situation on its financial condition, liquidity, operations, suppliers, industry and workforce . As of May 18, 2020, the date on which these financial statements were authorized for issuance, the global situation remains uncertain. The governments of the US, Canada, Mexico and Argentina have enacted or proposed legislation to provide relief to companies and/or individuals affected by the enforced reduction in operations. The Company is in the process of applying for available relief. It is highly uncertain if the Company would qualify for funding under these relief programs, and if the Company does qualify, how much funding would be available. Going Concern In the preparation of the interim financial statements, management is required to identify when events or conditions indicate that substantial doubt may exist about the Company’s ability to continue as a going concern. Substantial doubt about the Company’s ability to continue as a going concern would exist when relevant conditions and events, considered in aggregate, indicate that the Company may not be able to meet its obligations as they become due for a period of at least, but not limited to, 12 months from the balance sheet date. When the Company identifies conditions or events that raise potential for substantial doubt about its ability to continue as a going concern, the Company considers whether its plans that are intended to mitigate those relevant conditions or events will alleviate the potential substantial doubt. The Company is in full compliance with financial covenants under its outstanding credit agreement as at March 31, 2020. However, as a result of the expected significant resource reduction at the Gold Bar mine, resulting in an initial revised mine plan which yields less cash flow coupled with the disruptions to operations caused by the COVID-19 pandemic, there is uncertainty about the Company’s ability to remain in compliance with certain of these financial covenants over the next twelve months. Non-compliance with these covenants would result in a breach under the Company’s debt agreement and the lender’s right to accelerate the balance due under the agreement. In response to this uncertainty, the Company is in discussions with its lenders to seek relief from certain of these financial covenants and evaluating options to re-finance the debt, raise additional equity, and curtail discretionary expenditures. The Company’s ability to continue as a going concern is dependent on the successful completion of one or more of these initiatives to ensure that it has sufficient liquidity available to satisfy these financial covenants and in order to fund its operations. After considering these plans, management has concluded that it has mitigated the risk of material uncertainties relating to events or conditions that may cast substantial doubt upon the Company’s ability to continue as a going concern for a period of 12 months from the consolidated balance sheet date. The estimates used by management in reaching this conclusion are based on information available as at the date these financial statements were authorized for issuance, and include internally generated cash flow forecasts. Accordingly, actual results could differ from these estimates and resulting variances may be material to management’s assessment.
Recently Adopted And Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements Changes to the Disclosure Requirements for Fair Value Measurement: Recently Issued Accounting Pronouncements Income Taxes: is effective for the Company for the fiscal years beginning after December 15, 2020, with early adoption permitted. The Company is currently evaluating the effect of this amendment and the impact it may have on the Company’s consolidated financial statements.
Reclassifications	Reclassifications Certain amounts in the comparative Statement of Operations Advanced projects Statement of Operations Exploration Statement of Operations General and Administrative Statement of Operations

OPERATING SEGMENT REPORTING (Ta

OPERATING SEGMENT REPORTING (Tables)	3 Months Ended
OPERATING SEGMENT REPORTING (Tables)	Mar. 31, 2020
OPERATING SEGMENT REPORTING
Schedule of the financial information relating to the Company's segments	Three months ended March 31, 2020 USA Canada Mexico MSC Los Azules Total Revenue from gold and silver sales $ 14,317 $ 12,739 $ 4,344 $ — $ — $ 31,400 Production costs applicable to sales (17,032) (7,207) (4,148) — — (28,387) Depreciation and depletion (3,862) (2,748) (88) — — (6,698) Gross (loss) profit (6,577) 2,784 108 — — (3,685) Advanced projects (366) (1,066) (1,118) — — (2,550) Exploration (809) (2,405) — — (576) (3,790) Loss from investment in Minera Santa Cruz S.A. — — — (2,676) — (2,676) Impairment of mineral property interests and plant and equipment (note 8) (83,805) — — — — (83,805) Segment loss $ (91,557) $ (687) $ (1,010) $ (2,676) $ (576) $ (96,506) General and Administrative and other (3,779) Loss before income and mining taxes $ (100,285) Capital expenditures $ 1,807 3,729 — — — $ 5,536 Three months ended March 31, 2019 USA Canada Mexico MSC Los Azules Total Revenue from gold and silver sales $ 842 $ 8,943 $ 5,798 $ — $ — $ 15,583 Production costs applicable to sales (808) (5,835) (4,505) — — (11,148) Depreciation and depletion (152) (2,710) (144) — — (3,006) Gross (loss) profit (118) 398 1,149 — — 1,429 Advanced projects (195) — (2,452) — — (2,647) Exploration (613) (2,420) — — (1,117) (4,150) Loss from investment in Minera Santa Cruz S.A. — — — (2,310) — (2,310) Segment (loss) $ (926) $ (2,022) $ (1,303) $ (2,310) $ (1,117) $ (7,678) General and Administrative and other (2,340) Loss before income and mining taxes $ (10,018) Capital expenditures $ 13,008 $ 3,343 $ — $ — $ — $ 16,351
Schedule Of Geographic Information	Geographic information Geographic information includes the long-lived assets balance and revenues presented for the Company’s operating segments, as follows: Long-lived Assets Revenue (1) March 31, December 31, Three months ended March 31, 2020 2019 2020 2019 USA $ 50,599 $ 135,854 $ 14,317 $ 842 Canada 78,505 77,147 12,739 8,943 Mexico 21,457 23,551 4,344 5,798 Argentina (2) 298,997 302,598 — — Total consolidated (3) $ 449,558 $ 539,150 $ 31,400 $ 15,583 (1) Presented based on the location from which the product originated. (2) Includes Investment in MSC of $107.5 million as of March 31, 2020 (December 31, 2019 – $110.2 million). (3) Total excludes $0.9 million related to the Company's office lease asset as the business activities related to corporate are not considered to be a part of the operating segments .

OTHER INCOME (Tables)

OTHER INCOME (Tables)	3 Months Ended
OTHER INCOME (Tables)	Mar. 31, 2020
OTHER INCOME
Schedule of other income (expense)	Three months ended March 31, 2020 2019 Unrealized and realized (loss) gain on investments (note 5) $ (898) $ 827 Foreign currency gain 1,808 163 Other income, net 27 57 Total other income $ 937 $ 1,047

INVESTMENTS (Tables)

INVESTMENTS (Tables)	3 Months Ended
INVESTMENTS (Tables)	Mar. 31, 2020
INVESTMENTS
Summary of investment portfolio	As at Additions/ Disposals/ Unrealized Fair value December 31, transfers during Net (loss) on transfers during (loss) on March 31, 2019 period securities sold period securities held 2020 Marketable equity securities $ 1,885 $ — $ (16) $ (112) $ (882) $ 875 As at Additions/ Net gain Disposals/ Unrealized Fair value December 31, transfers during (loss) on transfers during gain on March 31, 2018 period securities sold period securities held 2019 Marketable equity securities $ 2,718 $ 264 $ — $ — $ 605 $ 3,587 Warrants 413 — — — 222 635 Investments $ 3,131 $ 264 $ — $ — $ 827 $ 4,222

RECEIVABLES, PREPAIDS AND OTH_2

RECEIVABLES, PREPAIDS AND OTHER ASSETS (Tables)	3 Months Ended
RECEIVABLES, PREPAIDS AND OTHER ASSETS (Tables)	Mar. 31, 2020
RECEIVABLES, PREPAIDS AND OTHER ASSETS
Schedule of balances in receivables and other current assets	March 31, 2020 December 31, 2019 Government sales tax receivable $ 1,468 $ 2,658 Prepaids and other assets 3,670 2,607 Receivables and other current assets $ 5,138 $ 5,265

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
INVENTORIES (Tables)	Mar. 31, 2020
INVENTORIES
Schedule of inventories	March 31, 2020 December 31, 2019 Material on leach pads $ 36,627 $ 37,328 In-process inventory 2,806 3,847 Stockpiles 1,620 1,384 Precious metals 1,486 1,038 Materials and supplies 4,473 4,382 Inventories $ 47,012 $ 47,979 Less current portion 38,327 38,376 Long-term portion $ 8,685 $ 9,603

MINERAL PROPERTY INTERESTS AN_2

MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT (Tables)	3 Months Ended
MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT (Tables)	Mar. 31, 2020
MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT
Summary of the quantitative and qualitative information related to the unobservable inputs used in the calculation of the Company's non-recurring Level 3 fair value measurements	As at March 31, 2020 Date of Fair Value Measurement Valuation Technique Unobservable Input Range/ Weighted Average Gold Bar Mine March 31, 2020 Discounted Cash Flow Discount Rate 9% Long Term Gold Price $1,430/oz United States Inflation Index 2%

INVESTMENT IN MINERA SANTA CR_2

INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE (Tables)	3 Months Ended
	Mar. 31, 2020
INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE
Summary of MSC's financial information from operations	Three months ended March 31, 2020 2019 Minera Santa Cruz S.A. (100%) Revenue from gold and silver sales $ 37,390 $ 47,885 Production costs applicable to sales (28,316) (29,533) Depreciation and depletion (7,327) (15,380) Gross profit 1,747 2,972 Exploration (2,866) (3,338) Other expenses (2,217) (1,617) Net (loss) before tax $ (3,336) $ (1,983) Current and deferred tax expense 49 (789) Net loss $ (3,287) $ (2,772) Portion attributable to McEwen Mining Inc. (49%) Net loss $ (1,611) $ (1,358) Amortization of fair value increments (1,385) (1,913) Income tax recovery 320 961 Loss from investment in MSC, net of amortization $ (2,676) $ (2,310)
Schedule of change in the entity's investment in MSC	March 31, 2020 December 31, 2019 Investment in MSC, beginning of period $ 110,183 $ 127,814 Attributable net loss from MSC (1,611) (2,097) Amortization of fair value increments (1,385) (9,448) Income tax recovery 320 2,791 Dividend distribution received — (8,877) Investment in MSC, end of period $ 107,507 $ 110,183
Summary of key assets and liabilities, before and after adjustments to fair value	As at March 31, 2020 Balance excluding FV increments Adjustments Balance including FV increments Current assets $ 86,238 $ 1,102 $ 87,340 Total assets $ 185,137 $ 116,609 $ 301,746 Current liabilities $ (46,692) $ — $ (46,692) Total liabilities $ (76,759) $ (5,585) $ (82,344)

DEBT (Tables)

DEBT (Tables)	3 Months Ended
DEBT (Tables)	Mar. 31, 2020
DEBT
Schedule of Movements In Debt	Three months ending March 31, 2020 Year ending December 31, 2019 Balance, beginning of period 49,516 49,206 Interest expense 1,297 5,185 Interest payments (1,215) (4,875) Balance, end of period $ 49,598 $ 49,516 Less current portion 16,000 10,000 Long-term portion $ 33,598 $ 39,516

ASSET RETIREMENT OBLIGATIONS (T

ASSET RETIREMENT OBLIGATIONS (Tables)	3 Months Ended
ASSET RETIREMENT OBLIGATIONS (Tables)	Mar. 31, 2020
ASSET RETIREMENT OBLIGATIONS
Schedule of reconciliation of asset retirement obligations	March 31, 2020 December 31, 2019 Asset retirement obligation liability, beginning balance $ 32,201 $ 29,402 Settlements (90) (513) Accretion of liability 457 1,680 Adjustment reflecting updated estimates 262 1,012 Foreign exchange revaluation (927) 620 Asset retirement obligation liability, ending balance $ 31,903 $ 32,201 Less current portion 1,905 2,610 Long-term portion $ 29,998 $ 29,591
Schedule of reclamation expense	The Company’s reclamation expenses consisted of the following: Three months ended March 31, 2020 2019 Reclamation adjustment reflecting updated estimates $ 203 $ 64 Reclamation accretion 457 397 Total $ 660 $ 461

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
RELATED PARTY TRANSACTIONS (Tables)	Mar. 31, 2020
RELATED PARTY TRANSACTIONS
Schedule of related party expense and outstanding accounts payable	The Company recorded the following expense in respect to the related parties outlined below during the periods presented: Three months ended March 31, 2020 2019 Lexam L.P. $ 76 $ 61 REVlaw 38 41 The Company has the following outstanding accounts payable balances in respect to the related parties outlined below: March 31, 2020 December 31, 2019 Lexam L.P. $ 76 $ 65 REVlaw $ 20 $ 12

FAIR VALUE ACCOUNTING (Tables)

FAIR VALUE ACCOUNTING (Tables)	3 Months Ended
FAIR VALUE ACCOUNTING (Tables)	Mar. 31, 2020
FAIR VALUE ACCOUNTING
Schedule of assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy	Fair value as at March 31, 2020 Fair value as at December 31, 2019 Level 1 Level 2 Total Level 1 Level 2 Total Marketable equity securities $ 875 $ — $ 875 $ 1,885 $ — $ 1,885

CASH AND CASH EQUIVALENTS AND_2

CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (Tables)	3 Months Ended
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (Tables)	Mar. 31, 2020
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
Reconciliation of cash and cash equivalents and restricted cash	March 31, 2020 December 31, 2019 Cash and cash equivalents $ 28,774 $ 46,452 Restricted cash included in other assets 48 48 Total cash, cash equivalents, and restricted cash $ 28,822 $ 46,500

NATURE OF OPERATIONS AND RECENT

NATURE OF OPERATIONS AND RECENT ACCOUNTING PRONOUNCEMENTS (Details)	3 Months Ended
	Mar. 31, 2020
Ownership interest (as a percent)	49.00%
Subsidiary (as a percent)	100.00%
MSC
Ownership interest (as a percent)	49.00%

OPERATING SEGMENT REPORTING (De

OPERATING SEGMENT REPORTING (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Operating Segment Reporting
Inventory	$ 38,327		$ 38,376
Revenue from gold and silver sales	31,400	$ 15,583
Production costs applicable to sales	(28,387)	(11,148)
Depreciation and depletion	(6,698)	(3,006)
Gross profit	(3,685)	1,429
Advanced projects	(2,550)	(2,647)
Loss from investment in Minera Santa Cruz S.A. (note 8)	(2,676)	(2,310)
Impairment of mineral property interests and plant and equipment (note 8)	(83,805)
Segment (loss) income	(96,506)	(7,678)
General and Administrative and other	(3,779)	(2,340)
Loss before income and mining taxes	(100,285)	(10,018)
Capital expenditures	5,536	16,351
El Gallo Project
Operating Segment Reporting
Inventory	1,100	1,800
Production costs applicable to sales	(4,200)	(4,500)
Sunk costs	1,700
U.S.
Operating Segment Reporting
Depreciation and depletion	(3,862)	(152)
Gross profit	(6,577)	(118)
Advanced projects	(366)	(195)
Impairment of mineral property interests and plant and equipment (note 8)	(83,805)
Segment (loss) income	(91,557)	(926)
Capital expenditures	1,807	13,008
Canada
Operating Segment Reporting
Depreciation and depletion	(2,748)	(2,710)
Gross profit	2,784	398
Advanced projects	(1,066)
Segment (loss) income	(687)	(2,022)
Capital expenditures	3,729	3,343
Mexico
Operating Segment Reporting
Depreciation and depletion	(88)	(144)
Gross profit	108	1,149
Advanced projects	(1,118)	(2,452)
Segment (loss) income	(1,010)	(1,303)
MSC
Operating Segment Reporting
Loss from investment in Minera Santa Cruz S.A. (note 8)	(2,676)	(2,310)
Segment (loss) income	(2,676)	(2,310)
Los Azules
Operating Segment Reporting
Segment (loss) income	(576)	(1,117)
MSC
Operating Segment Reporting
Revenue from gold and silver sales	37,390	47,885
Production costs applicable to sales	(28,316)	(29,533)
Depreciation and depletion	(7,327)	(15,380)
Gross profit	1,747	2,972
Loss from investment in Minera Santa Cruz S.A. (note 8)	(2,676)	(2,310)
Loss before income and mining taxes	(3,336)	(1,983)
Gold and silver sales
Operating Segment Reporting
Revenue from gold and silver sales	31,400	15,583
Gold and silver sales \| U.S.
Operating Segment Reporting
Revenue from gold and silver sales	14,317	842
Gold and silver sales \| Canada
Operating Segment Reporting
Revenue from gold and silver sales	12,739	8,943
Gold and silver sales \| Mexico
Operating Segment Reporting
Revenue from gold and silver sales	4,344	5,798
Production costs applicable to sales
Operating Segment Reporting
Production costs applicable to sales	(28,387)
Production costs applicable to sales		(11,148)
Production costs applicable to sales \| U.S.
Operating Segment Reporting
Production costs applicable to sales	(17,032)
Production costs applicable to sales		(808)
Production costs applicable to sales \| Canada
Operating Segment Reporting
Production costs applicable to sales	(7,207)
Production costs applicable to sales		(5,835)
Production costs applicable to sales \| Mexico
Operating Segment Reporting
Production costs applicable to sales	(4,148)
Production costs applicable to sales		(4,505)
Exploration
Operating Segment Reporting
Production costs applicable to sales	(3,790)	(4,150)
Exploration \| U.S.
Operating Segment Reporting
Production costs applicable to sales	(809)	(613)
Exploration \| Canada
Operating Segment Reporting
Production costs applicable to sales	(2,405)	(2,420)
Exploration \| Los Azules
Operating Segment Reporting
Production costs applicable to sales	$ (576)	$ (1,117)

OPERATING SEGMENT REPORTING - G

OPERATING SEGMENT REPORTING - Geographic information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Operating Segment Reporting
Revenue from gold and silver sales	$ 31,400	$ 15,583
Long-lived Assets	449,558		$ 539,150
Investment in MSC	107,507		110,183
Lease assets	900
MSC
Operating Segment Reporting
Revenue from gold and silver sales	37,390	47,885
Investment in MSC	107,507		110,183	$ 127,814
United States
Operating Segment Reporting
Revenue from gold and silver sales	14,317	842
Long-lived Assets	50,599		135,854
Canada
Operating Segment Reporting
Revenue from gold and silver sales	12,739	8,943
Long-lived Assets	78,505		77,147
Mexico
Operating Segment Reporting
Revenue from gold and silver sales	4,344	$ 5,798
Long-lived Assets	21,457		23,551
Argentina
Operating Segment Reporting
Long-lived Assets	298,997		302,598
Argentina \| MSC
Operating Segment Reporting
Investment in MSC	$ 107,500		$ 110,200

OTHER INCOME (Details)

OTHER INCOME (Details) - USD ($) $ in Thousands	3 Months Ended
OTHER INCOME (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
OTHER INCOME
Unrealized and realized (loss) gain on investments (note 5)	$ (898)	$ 827
Foreign currency gain	1,808	163
Other income, net	27	57
Total other income	$ 937	$ 1,047

INVESTMENTS (Details)

INVESTMENTS (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
INVESTMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Investments rollforward
Opening balance	$ 1,885	$ 3,131	$ 3,131
Additions/transfers during the period		264
Unrealized (loss) on securities held		827
Fair Value end of the period	875	4,222	1,885
Proceeds from sale of investments	112
Cost of purchase of marketable equity securities	1,200		1,300
Marketable equity securities
Investments rollforward
Opening balance	1,885	2,718	2,718
Additions/transfers during the period		264
Net (loss) on securities sold	(16)
Disposals/transfers during period	(112)
Unrealized (loss) on securities held	(882)	605
Fair Value end of the period	875	3,587	1,885
Proceeds from sale of investments	$ 100	0
Warrants
Investments rollforward
Opening balance		413	$ 413
Unrealized (loss) on securities held		222
Fair Value end of the period		$ 635

RECEIVABLES, PREPAIDS AND OTH_3

RECEIVABLES, PREPAIDS AND OTHER ASSETS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Receivables, prepaids and other assets
Government sales tax receivable	$ 1,468		$ 2,658
Other current assets	3,670		2,607
Receivables and other current assets	5,138		5,265
VAT collected	400	$ 100
Mexican Tax Authority
Receivables, prepaids and other assets
Government sales tax receivable	$ 500		$ 700

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	3 Months Ended
INVENTORIES (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
INVENTORIES
Material on leach pads	$ 36,627		$ 37,328
In-process inventory	2,806		3,847
Stockpiles	1,620		1,384
Precious metals	1,486		1,038
Materials and supplies	4,473		4,382
Inventories	47,012		47,979
Less current portion	38,327		38,376
Long-term portion	8,685		$ 9,603
Inventory write-down	$ 1,200

MINERAL PROPERTY INTERESTS AN_3

MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)$ / oz
Mineral property interests and plant and equipment
Impairment charges \| $	$ 83,805
Nonrecurring \| Level 3 \| Gold Bar mine \| Discounted Cash Flow \| Weighted Average
Mineral property interests and plant and equipment
Discount Rate (as a percent)	9.00%
Long term gold price (in dollars per ounce) \| $ / oz	1,430
Nonrecurring \| Level 3 \| Gold Bar mine \| Discounted Cash Flow \| United States \| Weighted Average
Mineral property interests and plant and equipment
Inflation index (as a percent)	2.00%

INVESTMENT IN MINERA SANTA CR_3

INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE - Summary of Operating Results from MSC (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE
Revenue from gold and silver sales	$ 31,400	$ 15,583
Production costs applicable to sales	(28,387)	(11,148)
Depreciation and depletion	(6,698)	(3,006)
Gross Profit	(3,685)	1,429
Net income (loss) before tax	(100,285)	(10,018)
Net loss	(99,191)	(10,136)
Income and mining tax recovery (note 19)	(1,094)	118
(Loss) from investment in MSC, net of amortization	$ (2,676)	(2,310)
Subsidiary (as a percent)	100.00%
Ownership interest (as a percent)	49.00%
MSC
INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE
Revenue from gold and silver sales	$ 37,390	47,885
Production costs applicable to sales	(28,316)	(29,533)
Depreciation and depletion	(7,327)	(15,380)
Gross Profit	1,747	2,972
Exploration	(2,866)	(3,338)
Other expenses	(2,217)	(1,617)
Net income (loss) before tax	(3,336)	(1,983)
Current and deferred tax expense	49	(789)
Net loss	(3,287)	(2,772)
Net income (loss)	(1,611)	(1,358)	$ (2,097)
Amortization of fair value increments	(1,385)	(1,913)	(9,448)
Income and mining tax recovery (note 19)	320	961	$ 2,791
(Loss) from investment in MSC, net of amortization	$ (2,676)	$ (2,310)
Ownership interest (as a percent)	49.00%

INVESTMENT IN MINERA SANTA CR_4

INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE - Changes in Company's Investment in MSC (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Change in the investment in MSC
Investment in MSC, beginning of period	$ 110,183
Income and mining tax recovery (note 19)	(1,094)	$ 118
Dividend distribution received		(2,020)
Investment in MSC, end of period	107,507		$ 110,183
MSC
Change in the investment in MSC
Investment in MSC, beginning of period	110,183	127,814	127,814
Attributable net loss from MSC	(1,611)	(1,358)	(2,097)
Amortization of fair value increments	(1,385)	(1,913)	(9,448)
Income and mining tax recovery (note 19)	320	961	2,791
Dividend distribution received			(8,877)
Investment in MSC, end of period	$ 107,507		$ 110,183
Proceeds from Dividends Received		$ 2,000

INVESTMENT IN MINERA SANTA CR_5

INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE - Assets and Liabilities Associated with MSC (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE
Current assets	$ 73,114	$ 91,978
Total assets	523,626	631,223
Current liabilities	(47,827)	(48,795)
Total liabilities	(123,188)	$ (131,744)
Balance excluding FV increments \| MSC
INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE
Current assets	86,238
Total assets	185,137
Current liabilities	(46,692)
Total liabilities	(76,759)
Adjustments \| MSC
INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE
Current assets	1,102
Total assets	116,609
Total liabilities	(5,585)
Balance including FV increments \| MSC
INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE
Current assets	87,340
Total assets	301,746
Current liabilities	(46,692)
Total liabilities	$ (82,344)

DEBT (Details)

DEBT (Details) - USD ($) $ in Thousands	Aug. 10, 2018	Aug. 31, 2020	Mar. 31, 2019	Aug. 10, 2021	Mar. 31, 2020	Dec. 31, 2019
LONG-TERM DEBT
Long-term debt from related party					$ 16,799	$ 19,758
2020					3,500
2021					$ 2,000
Gold Bar mine \| Construction in process
LONG-TERM DEBT
Interest costs capitalized			$ 600
Term Loan
LONG-TERM DEBT
Face amount	$ 50,000
Term Loan \| Gold Bar Complex
LONG-TERM DEBT
Stated interest rate (as a percent)	9.75%
Principal repayments		$ 2,000
Term loan retirement period		12 months
Final payment				$ 26,000
Term Loan \| Robert McEwen
LONG-TERM DEBT
Face amount	$ 50,000
Term of debt instrument	3 years
Long-term debt from related party	$ 25,000
Term Loan \| Affiliate of Robert McEwen
LONG-TERM DEBT
Percentage of ownership of the Company's common stock	20.00%
Long-term debt from related party	$ 25,000

DEBT- Rollforward (Details)

DEBT- Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
DEBT- Rollforward (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Long-term debt
Balance, initial recognition	$ 49,600	$ 49,500
Long-term portion	16,799	19,758
Term Loan \| Gold Bar Complex
Long-term debt
Balance, beginning of year	49,516	49,206
Interest expense	1,297	5,185
Interest payments	(1,215)	(4,875)
Balance, end of year	49,598	49,516
Less current portion	16,000	10,000
Long-term portion	$ 33,598	$ 39,516

ASSET RETIREMENT OBLIGATIONS -

ASSET RETIREMENT OBLIGATIONS - Retirement obligation rollforward (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Changes in the asset retirement obligations
Asset retirement obligation, beginning of the period	$ 32,201	$ 29,402	$ 29,402
Settlements	(90)		(513)
Accretion of liability	457		1,680
Adjustment reflecting updated estimates	262		1,012
Foreign exchange revaluation	(927)		620
Asset retirement obligation, ending balance	31,903		32,201
Less current portion	1,905		2,610
Long-term portion	29,998		$ 29,591
Reclamation obligations
Reclamation adjustment reflecting updated estimates	203	64
Remediation Accretion	457	397
Total	$ 660	$ 461

SHAREHOLDERS' EQUITY (Details)

SHAREHOLDERS' EQUITY (Details) - USD ($) $ / shares in Units, $ in Thousands	May 23, 2019	Mar. 29, 2019	Nov. 08, 2018	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2017
Number of units issued	1,935,484	14,193,548
Price per unit		$ 1.55
Net proceeds	$ 2,600	$ 20,300			$ 20,252
Issuance costs	$ 400	$ 1,700
Number of shares of common stock		1
Number of warrants received for each share of common stock share sold		0.5
Sale of common stock for cash, net of issuance costs					$ 20,252
Shares of common stock issued upon exercise of stock options				60,000	221,500
Proceeds from exercise of stock options				$ 62	$ 223
Weighted average exercise price of stock options (in dollars per share)				$ 1.06	$ 1
Shareholders' distribution declared per common share (note 13)				0	0
Annual return of capital declared (in dollars per share)						$ 0.01
Maximum
Proceeds from exercise of stock options					$ 200
Common Stock and Additional Paid-in Capital
Number of units issued					14,194,000
Net proceeds		$ 17,800			$ 20,252
Shares of common stock issued upon exercise of stock options				60,000	222,000
Warrants
Net proceeds		$ 2,500
Number of shares of common stock		1
Price per common share for each warrant		$ 2
Warrant expiration term		3 years
Subscription Receipts \| Officers, directors and certain employees
Number of units issued		1,935,484
Price per unit		$ 1.55
ATM offering
Number of units issued					1,010,545
Aggregate offering price			$ 90,000
Sale of common stock for cash, net of issuance costs					$ 1,900

NET LOSS PER SHARE (Details)

NET LOSS PER SHARE (Details) - shares	3 Months Ended
NET LOSS PER SHARE (Details) - shares	Mar. 31, 2020	Mar. 31, 2019
Options
Antidilutive Securities Excluded from Computation of Earnings Per Share
Options and warrants outstanding not included in the computation of diluted weighted average shares because their effect would have been anti-dilutive (in shares)	4,430,784	3,838,317
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share
Options and warrants outstanding not included in the computation of diluted weighted average shares because their effect would have been anti-dilutive (in shares)	29,770,766	7,096,744

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Aug. 10, 2018
RELATED PARTY TRANSACTIONS
Long-term debt from related party (note 18)	$ 16,799		$ 19,758
Term Loan
RELATED PARTY TRANSACTIONS
Face amount				$ 50,000
Robert McEwen \| Term Loan
RELATED PARTY TRANSACTIONS
Face amount				50,000
Long-term debt from related party (note 18)				25,000
Affiliate of Robert McEwen
RELATED PARTY TRANSACTIONS
Debt interest expense	600	$ 600
Affiliate of Robert McEwen \| Term Loan
RELATED PARTY TRANSACTIONS
Long-term debt from related party (note 18)				$ 25,000
Entity Affiliated With Related Party \| Lexam L.P.
RELATED PARTY TRANSACTIONS
Expense	76	61
Related party outstanding accounts payable	76		65
Entity Affiliated With Related Party \| REVlaw
RELATED PARTY TRANSACTIONS
Expense	38	$ 41
Related party outstanding accounts payable	$ 20		$ 12

FAIR VALUE ACCOUNTING (Details)

FAIR VALUE ACCOUNTING (Details) - USD ($) $ in Thousands	3 Months Ended
FAIR VALUE ACCOUNTING (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets:
Long term debt	$ 49,600	$ 49,500
Debt term	17 months
Gold Bar mine
Assets:
Impairment of long-lived assets	$ 83,800
Marketable equity securities. \| Recurring
Assets:
Investments	875	1,885
Marketable equity securities. \| Recurring \| Level 1
Assets:
Investments	$ 875	$ 1,885

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Reclamation Bonds, surety bonds (Details) $ in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2020CAD ($)	Mar. 31, 2020USD ($)
Timmins
Reclamation Bonds
Restrictive time deposits for reclamation bonding		$ 100
Surety Bonds
Reclamation Bonds
Percentage of annual fees on surety bonds	2.00%	2.00%
Surety bonds upfront deposit amount		$ 0
Surety bonding obligation		20,100
Surety Bonds \| Canada
Reclamation Bonds
Surety bonding obligation	$ 14.9	10,500
Reclamation Bonds \| Tonkin and Gold Bar Properties
Reclamation Bonds
Reclamation bonding obligation		20,100
Black Fox \| Reclamation Bonds
Reclamation Bonds
Reclamation bonding obligation	$ 14.9	$ 10,500

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Streaming Agreement (Details) $ in Millions	Aug. 25, 2017$ / oz	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)
Black Fox
Other commitments
Obligation to sell (as a percent)	8.00%
Long term gold price (in dollars per ounce) \| $ / oz	561
Revenue of acquiree since acquisition date and implementation of streaming agreement \| $		$ 0.5	$ 0.4
Black Fox \| Maximum
Other commitments
Inflation adjustment (as a percent)	2.00%
Pike River property
Other commitments
Obligation to sell (as a percent)	6.30%

CASH AND CASH EQUIVALENTS AND_3

CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
Cash and cash equivalents	$ 28,774	$ 46,452
Restricted cash included in other assets	48	48
Total cash, cash equivalents, and restricted cash	$ 28,822	$ 46,500	$ 26,717	$ 30,489