McEwen Mining (MUX) 10-K 4 Mar 22 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 04, 2022	Jun. 30, 2021
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2021
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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
ICFR Auditor Attestation Flag	true
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 633,678,600
Entity Common Stock, Shares Outstanding		473,687,391
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Central Index Key	0000314203
Amendment Flag	false
Auditor Firm ID	1263
Auditor Name	Ernst & Young LLP
Auditor Location	Toronto, Canada

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
REVENUE:
Revenue	$ 136,541	$ 104,789	$ 117,019
OPERATING EXPENSES:
Depreciation and depletion	(23,798)	(22,910)	(24,753)
Gross profit (loss)	(6,480)	(26,948)	8,986
OTHER OPERATING EXPENSES:
Advanced projects	(12,439)	(11,681)	(9,520)
Exploration	(22,604)	(15,861)	(37,744)
General and administrative	(11,435)	(9,201)	(12,785)
Loss from investment in Minera Santa Cruz S.A. (Note 9)	(7,533)	(1,517)	(8,754)
Depreciation	(339)	(405)	(566)
Reclamation and remediation (Note 12)	(3,450)	(1,788)	(3,531)
Impairment loss on mineral property interests and plant and equipment (Note 8)	0	(83,805)
Other operating		(1,968)
Total other operating expenses	(57,800)	(126,226)	(72,900)
Operating loss	(64,280)	(153,174)	(63,914)
OTHER INCOME (EXPENSE):
Interest and other finance expenses, net	(6,200)	(7,434)	(6,817)
Other income (Note 4)	6,281	6,893	7,140
Total other income (expense)	81	(541)	323
Loss before income and mining taxes	(64,199)	(153,715)	(63,591)
Income and mining tax recovery	7,315	1,390	3,844
Net loss after income and mining taxes	(56,884)	(152,325)	(59,747)
Net Income (Loss) Attributable to Noncontrolling Interest	172
Net loss and comprehensive loss attributable to McEwen shareholders	$ (56,712)	$ (152,325)	$ (59,747)
Net loss per share (Note 13):
Basic and Diluted (in dollars per share)	$ (0.12)	$ (0.38)	$ (0.17)
Weighted average common shares outstanding (thousands) (Note 13):
Basic and Diluted (in shares)	454,899	403,457	361,845
Gold and silver sales
REVENUE:
Revenue	$ 136,541	$ 104,789	$ 117,019
Production costs applicable to sales
OPERATING EXPENSES:
Production costs applicable to sales	$ (119,223)	$ (108,827)	$ (83,280)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents (Note 18)	$ 54,287	$ 20,843
Restricted cash (Note 18)	2,550
Investments (Note 5)	1,806
Receivables, prepaids and other assets (Note 6)	10,591	5,690
Inventories (Note 7)	15,792	26,964
Total current assets	85,026	53,497
Mineral property interests and plant and equipment, net (Note 8)	342,303	329,112
Investment in Minera Santa Cruz S.A. (Note 9)	90,961	108,326
Inventories, long-term (Note 7)	2,543	4,785
Restricted cash (Note 18)	3,797	3,595
Other assets	711	621
TOTAL ASSETS	525,341	499,936
Current liabilities:
Accounts payable and accrued liabilities	39,615	36,055
Flow-through share premium (Note 13)	1,572	3,827
Lease liabilities	2,901	2,440
Reclamation and remediation liabilities (Note 12)	5,761	3,232
Other liabilities	2,550
Total current liabilities	52,399	45,554
Lease liabilities	1,515	3,056
Debt (Note 11 and 15)	48,866	48,160
Reclamation and remediation liabilities (Note 12)	29,691	30,768
Other liabilities	2,929	3,257
Deferred income and mining tax liability		3,813
Total liabilities	135,400	134,608
Shareholders' equity:
Common shares: 459,188 as of December 31, 2021 and 416,587 as of December 31, 2020 issued and outstanding (in thousands) (Note 13)	1,615,596	1,548,876
Non-controlling interests (Note 20)	14,777
Accumulated deficit	(1,240,432)	(1,183,548)
Total stockholders' equity	389,941	365,328
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY	$ 525,341	$ 499,936

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares shares in Thousands	Dec. 31, 2021	Dec. 31, 2020
CONSOLIDATED BALANCE SHEETS
Common, shares issued	459,188	416,587
Common, shares outstanding	459,188	416,587

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Shares and Additional Paid-in CapitalFlow-through common shares	Common Shares and Additional Paid-in Capital	Accumulated Deficit	Noncontrolling Interest	Flow-through common shares	Total
Balance at Dec. 31, 2018		$ 1,457,422	$ (971,476)			$ 485,946
Balance (in shares) at Dec. 31, 2018		344,560
Increase (Decrease) in Shareholders' Equity
Stock-based compensation		$ 694				694
Exercise of stock options		$ 544				$ 544
Exercise of stock options (in shares)		535				535
Units Issued for cash, net of share issue costs		$ 69,467				$ 69,467
Units Issued for cash, net of share issue costs (in shares)		53,880
Stock issued during the period		$ 1,851				1,851
Stock issued during the period (in shares)		1,010
Shares issued for acquisition of mineral property interests		$ 724				724
Shares issued for acquisition of mineral property interests (in shares)		354
Net loss			(59,747)			(59,747)
Balance at Dec. 31, 2019		$ 1,530,702	(1,031,223)			499,479
Balance (in shares) at Dec. 31, 2019		400,339
Increase (Decrease) in Shareholders' Equity
Stock-based compensation		$ 613				613
Exercise of stock options		$ 138				$ 138
Exercise of stock options (in shares)		135				135
Stock issued during the period	$ 15,478				$ 15,478
Stock issued during the period (in shares)	13,968
Shares issued for debt refinancing		$ (1,875)				$ (1,875)
Shares issued for debt refinancing (in shares)		2,092
Shares issued for acquisition of mineral property interests		$ 70				70
Shares issued for acquisition of mineral property interests (in shares)		53
Net loss			(152,325)			(152,325)
Balance at Dec. 31, 2020		$ 1,548,876	(1,183,548)			365,328
Balance (in shares) at Dec. 31, 2020		416,587
Increase (Decrease) in Shareholders' Equity
Stock-based compensation		$ 837				837
Units Issued for cash, net of share issue costs		$ 29,875				29,875
Units Issued for cash, net of share issue costs (in shares)		30,000
Stock issued during the period	$ 10,785				$ 10,785
Stock issued during the period (in shares)	12,601
Issuance of equity by subsidiary (Note 20)		$ 25,223		$ 14,605		39,828
Net loss			(56,884)	172		(56,712)
Balance at Dec. 31, 2021		$ 1,615,596	$ (1,240,432)	$ 14,777		$ 389,941
Balance (in shares) at Dec. 31, 2021		459,188

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net loss attributable to McEwen shareholders	$ (56,884)	$ (152,325)	$ (59,747)
Adjustments to reconcile net loss from operating activities:
Impairment loss on mineral property interests and plant and equipment (Note 8)	0	83,805
Loss from investment in Minera Santa Cruz S.A., net of amortization (Note 9)	7,533	1,517	8,754
(Gain) loss on sale of mineral property interests (Note 4)	(2,270)		96
Depreciation and amortization	25,549	23,090	25,543
(Gain) loss on investments (Note 4)	(28)	619	(5,259)
Unrealized foreign exchange loss (gain) and adjustment to estimate (Note 12)	15	278	919
Income and mining tax (recovery)	(7,315)	(1,390)	(3,844)
Stock-based compensation	837	612	694
Reclamation and remediation (Note 12)	3,450	1,788	3,531
Change in non-cash working capital items:
Decrease (increase) in other assets related to operations	7,887	12,696	(17,484)
(Decrease) increase in liabilities related to operations	1,003	1,437	7,270
Cash used in operating activities	(20,223)	(27,873)	(39,527)
Cash flows from investing activities:
Additions to mineral property interests and plant and equipment	(34,888)	(13,373)	(29,707)
Proceeds from disposal of property and equipment (Note 4)	492
Proceeds from sale of investments, net of investments		1,266	6,769
Dividends received from Minera Santa Cruz S.A. (Note 9)	9,832	340	8,877
Cash used in investing activities	(24,564)	(11,767)	(14,061)
Cash flows from financing activities:
Proceeds from sale of shares, net of issuance costs (Note 13)	29,875		69,467
Sale of flow-through common shares, net of issuance costs (Note 13)	11,966	19,644
Subscription proceeds received in advance (Note 18)	2,550
Proceeds from loan from related party (Note 12 and 16)	40,000
Proceeds of at-the-market share sale (Note 13)			1,851
Proceeds of exercise of stock options		138	544
Payment of finance lease obligations	(3,408)	(2,204)	(1,855)
Cash provided by financing activities	80,983	17,578	70,007
Effect of exchange rate change on cash and cash equivalents			(408)
Increase (decrease) in cash, cash equivalents and restricted cash	36,196	(22,062)	16,011
Cash, cash equivalents and restricted cash, beginning of period	24,438	46,500	30,489
Cash, cash equivalents and restricted cash, end of period (Note 18)	$ 60,634	$ 24,438	$ 46,500

NATURE OF OPERATIONS

NATURE OF OPERATIONS	12 Months Ended
	Dec. 31, 2021
NATURE OF OPERATIONS
NATURE OF OPERATIONS	NOTE 1 NATURE OF OPERATIONS 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 Fox Complex in Ontario, Canada, the El Gallo gold project and the Fenix silver-gold project in Sinaloa, Mexico, and a portfolio of exploration properties in Nevada, Canada, Mexico, and Argentina. As of December 31, 2021, Minera Andes Inc., a wholly owned subsidiary of the Company, owns an 81.4% of McEwen Copper which holds a 100% interest in the Los Azules copper deposit in San Juan, Argentina, and the Elder Creek exploration property in Nevada. 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.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Use of Estimates: ​ The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of the Company’s consolidated financial statements requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions relate to environmental reclamation and closure obligations; asset useful lives utilized for depletion, depreciation, amortization and accretion calculations; fair value of equity investment and the impairment test; recoverable gold in leach pad inventory; current and long-term inventory; mine development capitalization costs; the collectability of value added taxes receivable; reserves; valuation allowances for deferred tax assets; income and mining tax provisions; reserves for contingencies and litigation and costs related to COVID-19. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results may differ significantly from these estimates. References to “C$” refer to Canadian currency. COVID-19: The Company continues to closely monitor and respond, as possible, to the ongoing COVID-19 pandemic. As the global situation continues to change rapidly, ensuring the health and safety of the Company’s employees and contractors is one of the Company’s top priorities. Many jurisdictions including the United States, Canada, Mexico, and Argentina have varied but continued restrictions to travel, public gatherings, and certain business operations. Unlike the year 2020, during 2021 there were no mandated suspensions for the Company’s operations. In addition, vaccination rates in countries where the Company operates continue to increase The Company’s results of operations, financial position, and cash flows were adversely affected in both 2020 and 2021 due to COVID-19. The continuing impact of the COVID-19 pandemic on the Company’s results of operations, financial position and cash flows will depend on future developments, including the duration and spread of the outbreak, variants of the COVID-19 virus, the availability, ongoing effectiveness, development and distribution of vaccinations and treatments and on government advisories, restrictions, and financial assistance offered. To ensure a safe working environment for the Company’s employees and contractors and to prevent the spread of COVID-19, the Company continues to reinforce safety measures at all sites and offices including contact tracing, restricting non-essential travel, and complying with public health orders. The impact of COVID-19 on the global financial markets, the overall economy and the Company are highly uncertain and cannot be predicted. Maintaining normal operating capacity is also dependent on the continued availability of supplies and contractors, which are out of the Company’s control. If the financial markets and/or the overall economy continue to be impacted, the Company’s results of operations, financial position and cash flows may be further affected. As the situation continues to evolve, the Company will continue to monitor market conditions closely and respond accordingly. During 2021, the Company raised $12.7 million and $31.5 million through a Canadian Development Expenses (“CDE”) flow-through common share issuance and an equity financing and a subsidiary of the Company secured an additional $40.0 million for its Los Azules project in Argentina. See Item 8 . Financial Statements and Supplementary Data Note 13 Shareholders’ Equity . Continuation of COVID-19 in 2022 and beyond could impact employee health, workforce productivity, insurance premiums, ability to travel, the availability of industry experts, personnel and equipment, restrictions or delays to field work, studies, and assay results, impeding access to capital markets when needed on acceptable term and other factors that will depend on future developments that may be beyond our control. The Company has completed various scenario planning analyses to consider the potential impacts of COVID-19 on its business, including volatility in commodity prices, temporary disruptions and/or curtailments of operating activities (voluntary or involuntary). However, there is no assurance that these measures will prevent adverse effects from COVID-19 in the future. Basis of Consolidation: The consolidated financial statements include the accounts of the Company and its wholly-owned and majority-owned subsidiaries. Intercompany accounts and transactions have been eliminated. Investments over which the Company exerts significant influence but does not control through majority ownership are accounted for using the equity method, as described in Investments, Cash and Cash Equivalents and Restricted Cash: The Company considers cash in banks, deposits in transit, and highly liquid term deposits with remaining maturities of three months or less at the date of acquisition to be cash and cash equivalents. Because of the short maturity of these instruments, the carrying amounts approximate their fair value. The Company classifies Restricted cash between short term and long term based on the restrictions. Investments: The Company accounts for investments over which the Company exerts significant influence but does not control through majority ownership using the equity method of accounting pursuant to ASC Topic 323, Investments – Equity Method and Joint Ventures Consolidated Balance Sheet Consolidated Statements of Operations and Comprehensive (Loss) Statement of Operations Impairment of Long-lived Assets The Company’s investments in marketable equity securities and warrants are measured at fair value at each period end with changes in fair value recognized in net (loss) income in the Statement of Operations Value Added Taxes Receivable: In Mexico, Argentina, and Canada, value added taxes (“VAT” and “HST”, respectively) are assessed on purchases of materials and services and sales of products. Businesses are generally entitled to recover the taxes they have paid related to purchases of materials and services, either as a refund or as a credit against future taxes payable. Stockpiles, Material on Leach Pads, In-process Inventory, Precious Metals Inventory and Materials and Supplies: Stockpiles represent mineralized material extracted from the mine and available for processing. Stockpiles are measured by estimating the number of tonnes added and removed from the stockpile, an estimate of the contained metals (based on assay data) and the estimated metallurgical recovery rates. Costs are allocated to stockpiles based on current mining costs incurred including applicable overhead relating to mining operations. Material is removed from the stockpile at an average cost per tonne. Mineralized material on leach pads is the material that is placed on pads where it is treated with a chemical solution that dissolves the gold contained in the mineralized material over a period of time. Costs are attributed to the mineralized material on leach pads based on current mining costs and processing costs incurred related to the ore on the pad. Costs are removed from the leach pad inventory based on the average cost per estimated recoverable ounce of gold on the leach pad as the gold is recovered. The estimates of recoverable gold on the leach pads are calculated from the quantities of mineralized material placed on the leach pads (measured tonnes added to the leach pads), the grade of mineralized material placed on the leach pads (based on assay data) and a recovery percentage. While the quantities of recoverable gold placed on the leach pads are periodically reconciled by comparing the grades of ore placed on the pads to the quantities of gold actually recovered (metallurgical balancing), the nature of the leaching process inherently limits the ability to precisely monitor inventory levels. As a result, the metallurgical balancing process is constantly monitored, and the engineering estimates are refined based on actual results over time. In-process inventories represent materials that are currently in the process of being converted to a saleable product. In-process material is measured based on assays of the material from the various stages of processing. Costs are allocated to in-process inventories based on the costs of the material fed into the process attributable to the source material coming from the mines, stockpiles and/or leach pads plus the in-process conversion costs incurred to that point in the process. Precious metal inventories include gold and silver doré and bullion that is unsold and held at the Company’s or the refinery’s facilities. Costs are allocated to precious metal inventories based on costs of the respective in-process inventories incurred prior to the refining process plus applicable refining costs. Materials and supplies inventories are comprised of chemicals, reagents, spare parts and consumable parts used in operating and other activities. Cost includes applicable taxes and freight. Proven and Probable Reserves: The definition of proven and probable reserves is set forth in S-K 1300. Proven mineral reserves are the economically mineable part of a measured mineral resource. For a proven mineral reserve, the qualified person has a high degree of confidence in the results obtained from the application of modifying factors and in the estimates of tonnage and grade or quality. A proven mineral reserve can only result from the conversion of a mineral resource. Probable mineral reserves are the economically mineable part of an indicated and, in some cases, measured mineral resource. For a probable mineral reserve, the qualified person’s confidence in the results obtained from the application of the modifying factors and in the estimates of tonnage and grade or quality is lower than what is sufficient for a classification as a proven mineral reserve, but is still sufficient to demonstrate that, at the time of reporting, extraction of the mineral reserve is economically viable under reasonable investment and market assumptions. The lower level of confidence is due to higher geologic uncertainty when the qualified person converts an indicated mineral resource to a probable reserve or higher risk in the results of the application of modifying factors at the time when the qualified person converts a measured mineral resource to a probable mineral reserve. A qualified person must classify a measured mineral resource as a probable mineral reserve when his or her confidence in the results obtained from the application of the modifying factors to the measured mineral resource is lower than what is sufficient for a proven mineral reserve. Mineral Property Interests and Plant and Equipment: Mineral property interests: Development costs include engineering and metallurgical studies, drilling and other related costs to delineate an ore body, and the removal of overburden to initially expose an ore body at open pit surface mines (“pre-stripping”) and building of access paths and other infrastructure to gain access to the ore body at underground mines. Development costs are charged to operations in the year incurred as Advanced Projects During the production phase of a mine, costs incurred to provide access to reserves and resources that will be produced in future periods that would not have otherwise been accessible are capitalized and included in the carrying amount of the related mineral property interest. Drilling and related costs are capitalized for an ore body where proven and probable reserves exist and the activities are directed at obtaining additional information, providing greater definition of the ore body or converting non-reserve mineralization to proven and probable reserves and the benefit is expected to be realized over a period beyond one year. All other drilling and related costs are expensed as incurred as Exploration Advanced Projects Mineral property interests are amortized upon commencement of production on a unit-of-production basis over proven and probable reserves, as defined by S-K 1300. When a property does not contain mineralized material that satisfies the definition of proven and probable reserves, the amortization of the capitalized costs is charged to expense based on the most appropriate method, which includes straight-line method and units-of-production method over the estimated useful life of the mine, as determined by internal mine plans. Plant and Equipment: For properties where the Company did not establish proven and probable reserves as defined by S-K 1300, substantially all costs, including design, engineering, construction, and installation of equipment are expensed as incurred, unless the equipment has alternative uses or significant salvage value, in which case the equipment is capitalized at cost. Construction-in-progress (“CIP”) costs: Impairment of Long-Lived Assets: 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 estimated fair value. For the purpose of recognition and measurement of impairment, the Company groups its long-lived assets by specific mine or project, as this represents the lowest level for which identifiable cash flows exist. For asset groups where an impairment indicator is identified, an impairment loss is determined if the carrying amount of the asset group exceeds the recoverable amount as determined using the undiscounted future net cash flows. An impairment loss, if any, is the amount by which the carrying amount exceeds the discounted future net cash flows. It is possible that actual future cash flows will be significantly different than the estimates, as actual future quantities of recoverable minerals, gold, silver and other commodity prices, production levels and costs of capital are each subject to significant risks and uncertainties. For asset groups where the Company is unable to determine a reliable estimate of future net cash flows, the Company adopts a market approach to estimate fair value by using a combination of observed market value per square mile and observed market value per ounce or pound of estimated mineralized material based on comparable transactions. Reclamation and Remediation Liabilities: Provisions for environmental rehabilitation are made in respect of the estimated future costs of closure and restoration and rehabilitation costs (which include the dismantling and demolition of infrastructure, removal of residual materials and remediation of disturbed areas) in the accounting period when the related environmental disturbance occurs. The associated asset retirement costs, including periodic adjustments, if any, are capitalized as part of the carrying amount of the long-lived asset when proven or probable reserves exist or if they relate to an acquired mineral property interest; otherwise, the costs are charged to the operations. Periodic accretion is recorded to reclamation and remediation liabilities and charged to operations. The fair value of reclamation and remediation liabilities is measured by discounting the expected cash flows adjusted for inflation, using a credit-adjusted risk free rate of interest. The Company prepares estimates of the timing and amounts of expected cash flows when an reclamation and remediation liabilities is incurred, which are updated to reflect changes in facts and circumstances. Estimation of the fair value of reclamation and remediation liabilities requires significant judgment, including amount of cash flows, timing of reclamation, inflation rate and credit risk. Lease Accounting: Contracts are analyzed to identify whether the contract contains an operating or financing lease according to ASC 842. If a contract is determined to contain a lease, the Company will include lease payments (the lease liability) and the right-of-use asset (“ROU”) representing the right to the underlying asset for the lease term within the Consolidated Balance Sheets Consolidated Balance Sheets Statement of Operations. ROU asset balances and lease liabilities are recognized at the commencement date of the lease based on the present value of the future lease payments over the lease term. The Company utilizes the incremental borrowing rate (“IBR”) in determining the present value of the future lease payments. IBR represents the rate of interest that a lessee would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term in a similar economic environment. Each lease’s IBR is determined by using the average bond yield ratings for comparable companies. Revenue Recognition: Revenue consists of proceeds received and expected to be received for the Company’s principal products, gold and silver. Revenue is recognized when title to gold and silver passes to the buyer and when collectability is reasonably assured. Title passes to the buyer based on terms of the sales contract, usually upon delivery of the product. Product pricing is determined under the sales agreements which are referenced against active and freely traded commodity markets, for example, the London Bullion Market for both gold and silver, in an identical form to the product sold. Gold and silver doré produced from the San José mine is sold at the prevailing spot market price based on the London A.M. fix, while concentrates are sold at the prevailing spot market price based on either the London P.M. fix or average of the London A.M. and London P.M. fix depending on the sales contract. Concentrates are provisionally priced, whereby the selling price is subject to final adjustments at the end of a period ranging from 30 to 90 days after delivery to the customer. The final price is based on the market price of the precious metal content at the relevant quotation point stipulated in the contract. Due to the time elapsed between shipment and the final settlement with the buyer, MSC must estimate the prices at which sales of metals will be settled. At the end of each financial reporting period, previously recorded provisional sales are adjusted to estimated settlement metals prices based on relevant forward market prices until final settlement with the buyer. In addition to selling refined bullion at spot, the Company has doré purchase agreements in place with financial institutions and refineries. Under the agreements, the Company has the option to sell approximately 90% of the gold and silver contained in doré bars prior to the completion of refining by the third party refiner. Revenue is recognized when the Company has provided irrevocable instructions to the refiner to transfer to the purchaser the refined ounces sold upon final processing outturn, and when payment of the purchase price for the purchased doré or bullion has been made in full by the purchaser. There is no judgement involved in revenue recognition as revenue is recognized when payment has been made by the purchaser and the product has been delivered. Foreign Currency: The functional currency for the Company’s operations is the U.S. dollar. All monetary assets and liabilities denominated in a currency which is not the U.S. dollar are translated at current exchange rates at each balance sheet date and the resulting adjustments are included in a separate line item under other income (expense). Revenues and expenses in foreign currencies are translated at the average monthly exchange rates for the corresponding period. Stock-Based Compensation: The Company accounts for stock options at fair value as prescribed in ASC 718. The Company estimates the fair value of each stock option at the grant date by using the Black-Scholes option-pricing model and provides for expense recognition over the service period, if any, of the stock option. The Company’s estimates may be impacted by certain variables including, but not limited to, stock price volatility, employee stock option exercise behavior and estimates of forfeitures. Flow-Through Common Shares: Current Canadian tax legislation permits mining entities to issue flow-through common shares to investors by which the deductions for tax purposes related to resource exploration and evaluation expenditures may be claimed by investors instead of the entity, subject to a renouncement process. Under ASC 740, proceeds from the issuance of flow-through common shares are allocated first to the common stock based on the underlying quoted price of shares and the residual amount is allocated to the sale of tax benefits, which is classified as a liability. In the future, as the Company incurs qualifying exploration and evaluation expenditures to fulfill its obligation, the liability is drawn down and the sale of tax benefits is recognized in the Statement of Operations as a reduction of deferred tax expense. Income and Mining Taxes: The Company accounts for income and mining taxes under ASC 740 using the liability method, recognizing certain temporary differences between the financial reporting basis of liabilities and assets and the related tax basis for such liabilities and assets. This method generates either a net deferred income and mining tax liability or asset for the Company, as measured by the statutory tax rates in effect. The Company derives the deferred income and mining tax charge or benefit by recording the change in either the net deferred income and mining tax liability or asset balance for the year. The Company records a valuation allowance against any portion of those deferred income and mining tax assets when it believes, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred income and mining tax asset will not be realized. Comprehensive (Loss) Income: In addition to net income or loss, comprehensive income or loss is included in changes in equity during a period. Per Share Amounts: Basic income or loss per share is computed by dividing income or loss available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted income per share reflects the potential dilution of securities that could share in the earnings of the Company and is computed in accordance with the treasury stock method based on the average number of common shares and dilutive common share equivalents outstanding. Only those instruments that result in a reduction in income per share are included in the calculation of diluted (loss) income per share. Loans and Borrowings: Borrowings are recognized initially at fair value, net of financing costs incurred, and subsequently measured at amortized cost. Any difference between the amounts originally received and the redemption value of the debt is recognized in the Statements of Operations Fair Value of Financial Instruments: Fair value accounting establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below: ​ Loans and borrowings: Consolidated Statement of Operations and Comprehensive (Loss) Income Fair Value of Financial Instruments: ​ Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3 Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). ​

OPERATING SEGMENT REPORTING

OPERATING SEGMENT REPORTING	12 Months Ended
	Dec. 31, 2021
OPERATING SEGMENT REPORTING
OPERATING SEGMENT REPORTING	NOTE 3 OPERATING SEGMENT REPORTING McEwen Mining is a mining and minerals production and exploration company focused on precious metals in the United States, Canada, Mexico, and Argentina. The Company’s chief operating decision 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 within a geographic region 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 or 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 pickup. Gold and silver sales and production costs applicable to sales for the reportable segments are reported net of intercompany transactions. 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 for the periods presented is summarized in the tables below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2021 USA ​ Canada ​ Mexico ​ MSC Los Azules Total Revenue from gold and silver sales ​ $ 79,205 ​ $ 50,704 ​ $ 6,632 ​ $ — ​ $ — ​ $ 136,541 Production costs applicable to sales ​ ​ (73,991) ​ ​ (32,961) ​ ​ (12,272) ​ ​ — ​ ​ — ​ (119,224) Depreciation and depletion ​ ​ (8,502) ​ ​ (15,296) ​ ​ — ​ ​ — ​ ​ — ​ ​ (23,798) Gross profit (loss) ​ ​ (3,288) ​ ​ 2,447 ​ ​ (5,640) ​ ​ — ​ ​ — ​ ​ (6,481) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Advanced projects ​ ​ (440) ​ ​ (2,635) ​ ​ (4,345) ​ ​ — ​ $ (5,019) ​ (12,439) Exploration ​ ​ (5,875) ​ ​ (15,017) ​ ​ (14) ​ ​ — ​ ​ (1,698) ​ (22,604) Impairment of mineral property interests and plant and equipment (Note 8) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loss from investment in Minera Santa Cruz S.A. ​ ​ — ​ ​ — ​ ​ — ​ ​ (7,533) ​ ​ — ​ (7,533) Other operating ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Segment loss ​ $ (9,603) ​ $ (15,205) ​ $ (9,999) ​ $ (7,533) ​ $ (6,717) ​ $ (49,056) General and Administrative and other ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (15,143) Loss before income and mining taxes ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ $ (64,199) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital expenditures ​ $ 2,416 ​ $ 33,617 ​ $ — ​ $ — ​ $ — ​ $ 36,033 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2020 USA Canada Mexico MSC Los Azules Total Revenue from gold and silver sales ​ $ 48,884 ​ $ 41,452 ​ $ 14,453 ​ $ — ​ $ — ​ $ 104,789 Production costs applicable to sales ​ ​ (58,465) ​ ​ (34,639) ​ ​ (15,723) ​ ​ — ​ ​ — ​ ​ (108,827) Depreciation and depletion ​ ​ (11,785) ​ ​ (10,883) ​ ​ (242) ​ ​ — ​ ​ — ​ ​ (22,910) Gross (loss) profit ​ ​ (21,366) ​ ​ (4,070) ​ ​ (1,512) ​ ​ — ​ ​ — ​ ​ (26,948) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Advanced projects ​ ​ (1,071) ​ ​ (6,088) ​ ​ (4,522) ​ ​ — ​ ​ — ​ ​ (11,681) Exploration ​ ​ (6,777) ​ ​ (6,450) ​ ​ (513) ​ ​ — ​ ​ (2,121) ​ ​ (15,861) Impairment of mineral property interests and plant and equipment (Note 8) ​ ​ (83,805) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (83,805) Loss from investment in Minera Santa Cruz S.A. ​ ​ — ​ ​ — ​ ​ — ​ ​ (1,517) ​ ​ — ​ ​ (1,517) Other operating ​ ​ (1,390) ​ ​ (578) ​ ​ — ​ ​ — ​ ​ — ​ ​ (1,968) Segment loss ​ $ (114,409) ​ $ (17,186) ​ $ (6,547) ​ $ (1,517) ​ $ (2,121) ​ $ (141,780) General and Administrative and other ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (11,935) Loss before income and mining taxes ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ $ (153,715) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital expenditures ​ $ 4,821 ​ $ 9,104 ​ $ — ​ $ — ​ $ — ​ $ 13,925 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2019 USA Canada Mexico MSC Los Azules Total Revenue from gold and silver sales ​ $ 43,847 ​ $ 50,058 ​ $ 23,114 ​ $ — ​ $ — ​ $ 117,019 Production costs applicable to sales ​ ​ (33,614) ​ ​ (31,121) ​ ​ (18,545) ​ ​ — ​ ​ — ​ ​ (83,280) Depreciation and depletion ​ ​ (10,934) ​ ​ (13,271) ​ ​ (548) ​ ​ — ​ ​ — ​ ​ (24,753) Gross profit ​ ​ (701) ​ ​ 5,666 ​ ​ 4,021 ​ ​ — ​ ​ — ​ ​ 8,986 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Advanced projects ​ ​ (649) ​ ​ (1,636) ​ ​ (7,235) ​ ​ — ​ ​ — ​ ​ (9,520) Exploration ​ ​ (8,554) ​ ​ (25,779) ​ ​ — ​ ​ — ​ ​ (3,411) ​ ​ (37,744) Loss from investment in Minera Santa Cruz S.A. ​ ​ — ​ ​ — ​ ​ — ​ ​ (8,754) ​ ​ — ​ ​ (8,754) Segment (loss) income ​ $ (9,904) ​ $ (21,749) ​ $ (3,214) ​ $ (8,754) ​ $ (3,411) ​ $ (47,032) General and Administrative and other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (16,559) Loss before income and mining taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (63,591) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital expenditures ​ $ 18,806 ​ $ 11,464 ​ $ — ​ $ — ​ $ — ​ $ 30,270 ​ Geographic information Geographic information includes the following long-lived assets balances and revenues presented for the Company’s operating segments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-lived Assets ​ Revenue (1) ​ ​ December 31, ​ December 31, ​ Year ended December 31, ​ 2021 2020 2021 ​ 2020 ​ 2019 USA ​ $ 37,878 ​ $ 46,801 ​ $ 79,205 ​ $ 48,884 ​ $ 43,847 Canada ​ ​ 93,294 ​ ​ 78,986 ​ ​ 50,704 ​ ​ 41,452 ​ ​ 50,058 Mexico ​ ​ 26,561 ​ ​ 20,021 ​ ​ 6,632 ​ ​ 14,453 ​ ​ 23,114 Argentina (2) ​ ​ 282,583 ​ ​ 299,816 ​ ​ — ​ ​ — ​ ​ — Total consolidated ​ $ 440,316 ​ $ 445,624 ​ $ 136,541 ​ $ 104,789 ​ $ 117,019 (1) Presented based on the location from which the product originated. (2) Includes Investment in MSC of $90.9 million as of December 31, 2021 (December 31, 2020 - $108.3 million). (3) Total excludes $0.4 million (December 31, 2020 - $0.6 million) related to the Company’s ROU office lease asset as the business activities related to corporate are not considered to be a part of the operating segments. As gold and silver can be sold through numerous gold and silver market traders worldwide, the Company is not economically dependent on a limited number of customers for the sale of its product. In 2021, 2020 and 2019, sales to Bank of Nova Scotia and Asahi Refining Inc. were $nil and $134.7 million (98.8%), $33.0 million (32%) and $67.0 million (64%), and $103.6 million (89%) and $4.9 million (4%), respectively, of the total gold and silver sales.

OTHER INCOME

OTHER INCOME	12 Months Ended
	Dec. 31, 2021
OTHER INCOME
OTHER INCOME	NOTE 4 OTHER INCOME The following is a summary of other income (expense) for the years ended December 31, 2021, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2021 2020 ​ 2019 COVID-19 relief $ 3,541 ​ $ 6,420 ​ $ — Unrealized and realized gain (loss) on investments (Note 5) ​ 28 ​ ​ (619) ​ ​ 5,259 Foreign currency gain ​ 513 ​ ​ 1,078 ​ ​ 1,697 Other income, net ​ 2,199 ​ ​ 14 ​ ​ 184 Total other income $ 6,281 ​ $ 6,893 ​ $ 7,140 ​

INVESTMENTS

INVESTMENTS	12 Months Ended
	Dec. 31, 2021
INVESTMENTS
INVESTMENTS	NOTE 5 INVESTMENTS The Company’s investment portfolio consisted of marketable equity securities and warrants of certain publicly-traded companies. The following is a summary of the activity in investments for the years ended December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at ​ Additions/ ​ ​ ​ Disposals/ ​ Unrealized ​ Fair value ​ ​ December 31, ​ transfers during ​ Net gain (loss) on ​ transfers during ​ gain on ​ December 31, ​ 2020 period securities sold year securities held 2021 Marketable equity securities ​ $ — ​ $ 1,616 ​ $ — ​ $ — ​ $ 28 ​ $ 1,644 Warrants ​ — ​ 162 ​ — ​ — ​ — ​ 162 Investments ​ $ — ​ $ 1,777 ​ $ — ​ $ — ​ $ 28 ​ $ 1,806 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at ​ Additions/ ​ Net ​ Disposals/ ​ Unrealized ​ Fair value ​ ​ December 31, ​ transfers during ​ (loss) on ​ transfers during ​ (loss) on ​ December 31, ​ 2019 period securities sold ​ year ​ securities held ​ 2020 Marketable equity securities ​ $ 1,885 ​ $ — ​ $ (619) ​ $ (1,266) ​ $ — ​ $ — ​ On June 23, 2021, the Company closed the sale of two projects in Nevada, Limousine Butte and Cedar Wash, with Nevgold Corp. (“Nevgold”, formerly Silver Mountain Mines Inc.). In addition to $0.5 million of cash received as part of the consideration, the Company received 4,963,455 common shares and 2,481,727 warrants of Nevgold. Upon issuance, the common shares received by the Company represented 10% of the issued and outstanding shares of Nevgold. The warrants have an exercise price of $0.60 per share and are exercisable until June 23, 2023. The common shares trade on the TSX Venture Exchange. During the years ended December 31, 2021, 2020 and 2019, the Company sold marketable equity securities for $nil, $1.3 million and $6.8 million, respectively.

RECEIVABLES AND OTHER CURRENT A

RECEIVABLES AND OTHER CURRENT ASSETS	12 Months Ended
	Dec. 31, 2021
RECEIVABLES AND OTHER CURRENT ASSETS
RECEIVABLES AND OTHER CURRENT ASSETS	NOTE 6 RECEIVABLES AND OTHER CURRENT ASSETS Receivables and other current assets as at December 31, 2021 and 2020 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 December 31, 2020 Government sales tax receivable ​ ​ 3,708 ​ $ 1,810 Prepaids and other assets ​ ​ 6,883 ​ ​ 3,880 Receivables and other current assets ​ $ 10,591 ​ $ 5,690 ​ ​ Included in government sales tax receivable for the year ended December 31, 2021 is $2.2 million HST receivable from our operations in Black Fox (December 31, 2020 - $0.4 million). The timing of receipt of these funds is uncertain due to ongoing review conducted by tax local authorities.

INVENTORIES

INVENTORIES	12 Months Ended
	Dec. 31, 2021
INVENTORIES
INVENTORIES	NOTE 7 INVENTORIES Inventories at December 31, 2021 and 2020 consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 December 31, 2020 Material on leach pads ​ $ 4,660 ​ $ 21,003 In-process inventory ​ 3,049 ​ 3,922 Stockpiles ​ 5,105 ​ 635 Precious metals ​ 1,819 ​ 1,344 Materials and supplies ​ 3,702 ​ 4,845 ​ ​ $ 18,335 ​ $ 31,749 Less long-term portion ​ ​ (2,543) ​ ​ (4,785) ​ ​ ​ 15,792 ​ ​ 26,964 ​ During the year ended December 31, 2021, the inventory of Black Fox, Gold Bar and El Gallo were written down to their net realizable value by $2.1 million, $1.4 million, and $3.3 million Statement of Operations

MINERAL PROPERTY INTERESTS AND

MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT	12 Months Ended
	Dec. 31, 2021
MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT
MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT	NOTE 8 MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT The cost and carrying value of mineral property interests and plant and equipment at December 31, 2021 and 2020 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 December 31, 2020 Mineral property interests, cost ​ $ 344,529 ​ $ 314,719 Less: accumulated depletion ​ ​ (47,197) ​ ​ (34,601) Mineral property interests, carrying value ​ $ 297,332 ​ $ 280,118 ​ ​ ​ ​ ​ ​ ​ Plant and equipment, cost ​ ​ ​ ​ ​ ​ Land ​ $ 8,949 ​ $ 8,804 Construction in progress ​ ​ 4,078 ​ ​ 2,945 Plant and equipment ​ ​ 76,887 ​ ​ 72,188 Subtotal ​ $ 89,914 ​ $ 83,937 Less: accumulated depreciation ​ (44,942) ​ ​ (34,943) Plant and equipment, carrying value ​ $ 44,972 ​ $ 48,994 ​ ​ ​ ​ ​ ​ ​ Mineral property interests and plant and equipment, carrying value ​ $ 342,303 ​ $ 329,112 ​ Mineral property interest carrying value at December 31, 2021 and 2020 includes the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Name of Property/Complex State/Province Country 2021 2020 Fox Complex ​ Ontario ​ Canada ​ $ 37,678 ​ $ 17,580 ​ Lexam ​ Ontario ​ Canada ​ ​ 41,595 ​ ​ 41,595 ​ Los Azules Copper Project San Juan Argentina ​ ​ 191,490 ​ ​ 191,490 ​ Tonkin Properties Nevada United States ​ 4,833 ​ 4,833 ​ Gold Bar Project Nevada United States ​ 11,790 ​ 14,675 ​ Battle Mountain Complex Nevada United States ​ 785 ​ 785 ​ El Gallo Project Sinaloa Mexico ​ 3,353 ​ 3,353 ​ Fenix Project Properties Sinaloa Mexico ​ 5,807 ​ 5,807 ​ Total mineral property interests ​ ​ ​ ​ ​ $ 297,332 ​ $ 280,118 ​ ​ Black Fox and Gold Bar mineral property interest are depleted based on the units of production method from production commencement date over the estimated proven and probable reserves. The El Gallo Project is depleted and depreciated using the straight line or units-of-production method over the stated mine life, as the project does not have proven and probable reserves compliant with S-K 1300 . The definition of proven and probable reserves is set forth in the S-K 1300. 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 S-K 1300. The Company conducts a review of potential triggering events for impairment for all its mineral projects on a quarterly basis or when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. During the year ended December 31, 2021, no indicators of impairment have been noted for any of the Company’s mineral property interests. The Company’s evaluation resulted in an impairment charge of $83.8 million for the year ended December 31, 2020.

INVESTMENT IN MINERA SANTA CRUZ

INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE	12 Months Ended
	Dec. 31, 2021
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 of MSC for the year ended December 31, 2021, 2020, and 2019, is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ ​ ​ 2021 ​ 2020 ​ ​ 2019 Minera Santa Cruz S.A. ( 100% ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue from gold and silver sales ​ $ 271,863 ​ $ 219,020 ​ $ 263,887 ​ Production costs applicable to sales ​ ​ (196,033) ​ ​ (138,182) ​ ​ (159,915) ​ Depreciation and depletion ​ ​ (39,948) ​ ​ (29,809) ​ ​ (69,995) ​ Gross profit ​ ​ 35,882 ​ ​ 51,029 ​ ​ 33,977 ​ Exploration ​ ​ (10,602) ​ ​ (10,446) ​ ​ (10,635) ​ Other expenses (1) ​ ​ (17,077) ​ ​ (30,515) ​ ​ (13,065) ​ Net income before tax ​ $ 8,203 ​ $ 10,068 ​ $ 10,277 ​ Current and deferred tax expense ​ ​ (7,934) ​ ​ (4,466) ​ ​ (14,556) ​ Net income (loss) ​ $ 269 ​ $ 5,602 ​ $ (4,279) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Portion attributable to McEwen Mining Inc. ( 49% ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) ​ $ 132 ​ $ 2,745 ​ $ (2,097) ​ Amortization of fair value increments ​ (8,331) ​ (5,390) ​ (9,448) ​ Income tax recovery ​ ​ 666 ​ ​ 1,128 ​ ​ 2,791 ​ (Loss) income from investment in MSC, net of amortization ​ $ (7,533) ​ $ (1,517) ​ $ (8,754) ​ (1) Other expenses include foreign exchange, accretion of asset retirement obligations and other finance related expenses. Costs related to the COVID-19 pandemic for MSC were recognized in cost of sales and totaled $19.3 million for the year ended December 31, 2021. During the year ended December 31, 2020, shutdown costs related to COVID-19 totaled $11.4 million and were recognized in other expenses. The loss from investment in MSC attributable to the Company includes 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, as well as income tax rate changes over the periods. Changes in the Company’s investment in MSC for the year ended December 31, 2021 and 2020 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 December 31, 2020 Investment in MSC, beginning of period $ 108,326 ​ $ 110,183 Attributable net income from MSC ​ 132 ​ ​ 2,745 Amortization of fair value increments (8,331) ​ (5,390) Income tax recovery ​ 666 ​ ​ 1,128 Dividend distribution received (9,832) ​ (340) Investment in MSC, end of period $ 90,961 ​ $ 108,326 ​ A summary of the key assets and liabilities of MSC as at December 31, 2021 and 2020, before and after adjustments for fair value increments arising from the purchase price allocation, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2021 ​ Balance excluding FV increments ​ Adjustments ​ Balance including FV increments Current assets ​ $ 89,876 ​ $ 469 ​ $ 90,345 Total assets ​ $ 180,302 ​ $ 89,975 ​ $ 270,277 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities ​ $ (51,244) ​ $ — ​ $ (51,244) Total liabilities ​ $ (82,075) ​ $ (2,577) ​ $ (84,652) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2020 ​ Balance excluding FV increments ​ Adjustments ​ Balance including FV increments Current assets ​ $ 94,965 ​ $ 362 ​ $ 95,327 Total assets ​ $ 186,438 ​ $ 107,821 ​ $ 294,259 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities ​ $ (40,396) ​ $ — ​ $ (40,396) Total liabilities ​ $ (69,255) ​ $ (3,936) ​ $ (73,191) ​

LEASE LIABILITIES

LEASE LIABILITIES	12 Months Ended
	Dec. 31, 2021
LEASE LIABILITIES
LEASE LIABILITIES	NOTE 10 LEASE LIABILITIES The Company’s lease obligations include equipment, vehicles and office space. Leased assets are included in plant and equipment ( Note 8 Lease liabilities as at December 31, 2021 and 2020 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total discounted lease liabilities ​ ​ December 31, 2021 ​ December 31, 2020 Finance leases ​ $ 3,833 ​ $ 4,735 Operating lease ​ ​ 583 ​ ​ 761 Lease liabilities ​ $ 4,416 ​ $ 5,496 Current portion ​ ​ (2,901) ​ ​ (2,440) Long-term portion ​ $ 1,515 ​ $ 3,056 ​ Lease liabilities as at December 31, 2021 are recorded using a weighted average discount rate of 6.67% and 8.73%, respectively, for finance and operating leases and have average remaining lease terms of 1 year and three years, respectively. During the year ended December 31, 2021, the Company recorded $2.0 million (December 31, 2020 – $1.3 million) in interest and other finance costs related to leases. A breakdown of the lease related costs for the year ended December 31, 2021 and 2020 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ December 31, 2020 Finance leases: ​ ​ ​ ​ ​ ​ Amortization of ROU assets ​ $ 1,659 ​ $ 878 Interest expense ​ ​ 329 ​ ​ 392 Total ​ $ 1,988 ​ $ 1,270 ​ ​ ​ ​ ​ ​ ​ Operating lease: ​ ​ ​ ​ ​ ​ Rent expense ​ $ 135 ​ $ 194 ​ Future minimum undiscounted lease payments as at December 31, 2021 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Payments due by period ​ 2022 2023 2024 2025 2026 Total Operating lease obligation ​ $ 246 ​ $ 250 ​ $ 167 ​ $ — ​ $ — ​ $ 663 Finance lease obligations ​ 2,704 ​ 808 ​ 274 ​ — ​ — ​ 3,785 Total future minimum lease payments ​ $ 2,949 ​ $ 1,058 ​ $ 441 ​ $ — ​ $ — ​ $ 4,448 Less: Imputed interest ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (32) Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4,416 ​

LONG-TERM DEBT

LONG-TERM DEBT	12 Months Ended
	Dec. 31, 2021
LONG-TERM DEBT
LONG-TERM DEBT	NOTE 11 LONG-TERM DEBT On August 10, 2018, the Company finalized a $50.0 million senior secured three year term loan facility with Royal Capital Management Corp., as administrative agent, and the lenders party thereto. Interest on the loan accrued at the rate of 9.75% per annum with interest due monthly and the loan was collateralized by a lien on certain of the Company’s and its subsidiaries’ assets. On June 25, 2020, the Company entered into an Amended and Restated Credit Agreement (“ARCA”) which refinanced the outstanding $50 million and which terms differed in material respects from the original loan as follows: ● Sprott Private Resource Lending II (Collector), LP replaced Royal Capital Management Corp. as the administrative agent. ● Sprott Private Resource Lending II (Collector), LP replaced certain lenders. An affiliate of Robert McEwen remains as a lender. ● Scheduled repayments of the principal are extended by two years . Monthly repayments of principal in the amount of $2.0 million are due beginning on August 31, 2022, and continuing for 12 months , followed by a final principal payment of $26.0 million plus any accrued interest on August 31, 2023. Subsequent to year end, we have come to terms in implementing an agreement with our lenders to defer the principal repayments to August 31, 2023. ● The minimum working capital maintenance requirement was reduced from $10.0 million under the original term loan to $nil at June 30, 2020 to December 31, 2020 and from $10.0 million to $2.5 million at March 31, 2021 to December 31, 2021. The minimum working capital maintenance requirement increases to $5.0 million for March 31, 2022, $7.0 million for June 30, 2022, and $10.0 million for September 30, 2022 and thereafter. Subsequent to year end, the minimum working capital maintenance requirement has been reduced to $5.0 million. ● The Company issued 2,091,700 shares valued at $1,875,000 to the lenders as bonus interest, accounted for as a financing cost. The value of the shares plus the unamortized costs of the original term loan will be amortized over the modified term of the loan. A reconciliation of the Company’s long-term debt for the year ended December 31, 2021 and 2020 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2021 Year ended Balance, beginning of period ​ $ 48,160 ​ $ 49,516 Interest expense ​ 5,581 ​ 5,394 Interest payments ​ (4,875) ​ (4,875) Bonus Interest - Equity based financing fee ​ ​ — ​ ​ (1,875) Balance, end of period ​ $ 48,866 ​ $ 48,160 ​

RECLAMATION AND REMEDIATION LIA

RECLAMATION AND REMEDIATION LIABILITIES	12 Months Ended
	Dec. 31, 2021
RECLAMATION AND REMEDIATION LIABILITIES
RECLAMATION AND REMEDIATION LIABILITIES	NOTE 12 RECLAMATION AND REMEDIATION LIABILITIES 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 years ended December 31, 2021 and 2020 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 December 31, 2020 Reclamation and remediation liability, beginning balance $ 34,000 ​ $ 32,201 ​ Settlements (2,225) ​ (267) ​ Accretion of liability 2,405 ​ 1,901 ​ Revisions to estimates and discount rate 1,257 ​ (54) ​ Foreign exchange revaluation ​ 15 ​ ​ 219 ​ Reclamation and remediation liability, ending balance $ 35,452 ​ $ 34,000 ​ Less current portion ​ 5,761 ​ ​ 3,232 ​ Long-term portion $ 29,691 ​ $ 30,768 ​ ​ The adjustment reflecting updated estimates during the year ended December 31, 2021 primarily relates to a $0.5 million increase in obligations in Nevada, $0.6 million increase in the estimated environmental obligations for the Black Fox, and $0.1 million increase in obligations in Tonkin Springs LLC (2020 – related to $0.1 million increase in obligations in Nevada) Reclamation expense in the Statement of Operations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2021 ​ 2020 ​ 2019 Reclamation adjustment reflecting updated estimates $ 1,045 ​ $ (113) ​ $ 1,851 Reclamation accretion ​ 2,405 ​ ​ 1,901 ​ ​ 1,680 Total $ 3,450 ​ ​ 1,788 ​ $ 3,531 ​

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2021
SHAREHOLDERS' EQUITY
SHAREHOLDERS' EQUITY	NOTE 13 SHAREHOLDERS’ EQUITY Amendment to the Articles of Incorporation On June 30, 2021, the Company filed Articles of Amendment to its Amended and Restated Articles of Incorporation with the Colorado Secretary of State providing for an increase in its authorized capital to increase the number of shares of common stock that the Company can issue from 500,000,000 to 675,000,000. The Amendment was approved by the Company’s shareholders at the annual meeting held on June 28, 2021. Equity Issuances Equity Financing On February 9, 2021, the Company completed a registered direct offering of common stock with several existing and new institutional investors and issued 30,000,000 shares priced at $1.05 per share for gross proceeds of $31.5 million. The purpose of this financing was to fund the continued development of the Froome deposit, which is part of the Fox Complex in Timmins, Ontario, and to strengthen the Company’s balance sheet and working capital position. Total issuance costs amounted to $1.7 million for net proceeds of $29.9 million. Flow-Through Shares Issuance – Canadian Development Expenses (“CDE”) On January 29, 2021, the Company issued 12,600,600 flow-through common shares priced at $1.01 per share for gross proceeds of $12.7 million. The purpose of this offering was also to fund the continued development of the Froome deposit. The total proceeds were allocated between the sale of tax benefits and the sale of common shares. The total issuance costs related to the issuance of the flow-through shares were $0.7 million, which were accounted for as a reduction to the common shares. The net proceeds of $12.0 million were allocated between the sale of tax benefits in the amount of $1.2 million and the sale of common shares in the amount of $10.8 million. The Company is required to spend these flow-through share proceeds on flow-through eligible CDE as defined by subsection 66.2(5) of the Income Tax Act (Canada). As of December 31, 2021, the Company had reached the total $12.7 million CDE spend requirement. Flow-Through Shares Issuance – Canadian Exploration Expenditures (“CEE”) On December 31, 2020, the Company issued an additional 7,669,900 flow-through common shares priced at $1.28 per share for gross proceeds of $9.8 million. The purpose of this offering was to fund exploration activities on the Company’s properties in the Timmins region of Canada. The total proceeds were allocated between the sale of tax benefits and the sale of common shares. No issuance costs were incurred as part of this issuance. Proceeds of $9.8 million were allocated between the sale of tax benefits in the amount of $2.1 million and the sale of common shares in the amount of $7.7 million. On September 10, 2020, the Company issued 6,298,166 flow-through common shares priced at $1.65 per share for gross proceeds of $10.4 million. The purpose of this offering was to fund exploration activities on the Company’s properties in the Timmins region of Canada. The total proceeds were allocated between the sale of tax benefits and the sale of common shares. The total issuance costs related to the issuance of the flow-through shares was $0.6 million, which are accounted for as a reduction to the common shares. The net proceeds of $9.8 million were allocated between the sale of tax benefits in the amount of $2.0 million and the sale of common shares in the amount of $7.8 million. The Company is required to spend flow-through share proceeds on flow-through eligible Canadian exploration expenditures (“CEE”) as defined by subsection 66(15) of the Income Tax Act (Canada). To date, the Company has incurred a total of $12.7 million in eligible CEE. The Company expects to fulfill its CEE commitments by the end of 2022. June 2020 Amended and Restated Credit Agreement Pursuant to the ARCA executed on June 25, 2020, the Company issued 2,091,700 shares of common stock to the lenders as consideration for the maintenance, continuation, and the extension of the maturity date of the loan. The Company valued the shares at $1.9 million. Shares Issued for Acquisition of Mineral Property Interests The Company did not issue any shares toward the acquisition of mineral property interests during the year ended December 31, 2021. During the year ended December 31, 2020, the Company issued a total of 53,600 shares of common stock for the acquisition of mineral interests adjacent to Gold Bar, valued at $0.1 million. During the year ended December 31, 2019 the Company issued 353,570 shares of common stock for the acquisition of mineral interests adjacent to Gold Bar. November 2019 Offering On November 20, 2019 (the “November Offering”), the Company issued 37,750,000 Units at $1.325 per Unit, for net proceeds of $46.6 million (net of issuance costs of $3.5 million). Each Unit consisted of one share of common stock and one The Company concluded that both common stock and warrants are equity-linked financial instruments and should be accounted for permanently in the shareholders’ equity section in the Consolidated Balance Sheets, with no requirement to subsequently revalue any of the instruments. Of the net proceeds of $46.6 million, $37.3 million was allocated to common stock and $9.3 million was allocated to warrants, based on their relative fair values at issuance. The Company used the Black-Scholes pricing model to determine the fair value of warrants issued in connection with the November Offering using the following assumptions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ November 20, 2019 ​ Risk-free interest rate ​ ​ ​ ​ ​ 1.55 % Dividend yield ​ ​ ​ ​ ​ 0.00 % Volatility factor of the expected market price of common stock ​ ​ ​ ​ ​ 60 % Weighted-average expected life ​ ​ ​ ​ ​ 5 years ​ Weighted-average grant date fair value ​ ​ ​ ​ $ 0.52 ​ ​ All 21,706,250 warrants issued under the November Offering remain outstanding and unexercised as at December 31, 2021. March 2019 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 share of common stock and one On March 29, 2019, the Company also issued 1,935,484 Subscription Receipts at $1.55 per Subscription Receipt to certain 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 identical 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 shares of common stock for proceeds of $1.9 million. The Company terminated the agreement on March 13, 2019. Stock Options The Company’s Amended and Restated Equity Incentive Plan (“Plan”) allows for equity awards to be granted to employees, consultants, advisors, and directors. The Plan is administered by the Compensation Committee of the Board of Directors (“Committee”), which determines the terms pursuant to which any award is granted. The Committee may delegate to certain officers the authority to grant awards to certain employees (other than such officers), consultants and advisors. During the year ended December 31, 2021, 950,000 stock options were granted to officers, directors, and certain employees at a weighted average exercise price of $1.22. As at December 31, 2021, 6,171,167 options were outstanding under the plan (December 31, 2020 – 7,012,334) During the year ended December 31, 2021, no stock options were exercised under the Plan and no shares were issued. During the year ended December 31, 2020, 135,000 shares were issued upon the exercise of stock options at a weighted average exercise price of $1.02 per share for proceeds of $0.1 million. Shareholder Distributions During the year ended December 31, 2021 and December 31, 2020 the Company did not make any shareholder distributions. Pursuant to the ARCA ( Note 11 Stock-Based Compensation The following table summarizes information about stock options outstanding under the Plan at December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ ​ ​ Average ​ Remaining ​ ​ ​ ​ ​ Number of ​ Exercise ​ Contractual ​ Intrinsic ​ ​ Shares ​ Price ​ Life (Years) ​ Value ​ ​ (in thousands, except per share and year data) Balance at December 31, 2018 4,243 ​ $ 2.33 2.0 ​ $ 1,475 ​ Granted 3,050 ​ ​ 1.73 ​ — ​ ​ — ​ Exercised (535) ​ ​ 1.01 ​ — ​ ​ 419 ​ Forfeited ​ (700) ​ ​ 2.56 ​ — ​ ​ — ​ Expired ​ (789) ​ ​ 2.90 ​ — ​ ​ — ​ Balance at December 31, 2019 5,269 ​ $ 2.00 3.0 ​ $ 364 ​ Granted 5,097 ​ ​ 1.22 ​ — ​ ​ — ​ Exercised (135) ​ ​ 1.02 ​ — ​ ​ 10 ​ Forfeited (1,968) ​ ​ 2.18 ​ — ​ ​ 2 ​ Expired (1,251) ​ ​ 1.19 ​ — ​ ​ — ​ Balance at December 31, 2020 7,012 ​ $ 1.55 4.2 ​ $ 53 ​ Granted 950 ​ ​ 1.22 ​ — ​ ​ — ​ Exercised — ​ ​ — ​ — ​ ​ 10 ​ Forfeited (1,589) ​ ​ 1.46 ​ — ​ ​ 2 ​ Expired ​ (202) ​ ​ 7.10 ​ — ​ ​ — ​ Balance at December 31, 2021 6,171 ​ $ 1.34 4.2 ​ $ 53 ​ Exercisable at December 31, 2021 2,265 ​ $ 1.47 2.6 ​ $ — ​ ​ Stock options have been granted to key employees, directors and consultants under the Plan. Options to purchase shares under the Plan were granted at or above market value of the common stock as of the date of the grant. During the year ended December 31, 2021, the Company granted stock options to certain employees and directors for an aggregate of 1.0 million shares of common stock (2020 – 5.1 million, 2019 – 3.1 million) at a weighted average exercise price of $1.22 per share (2020 – $1.22, 2019 – $1.73). The options vest equally over a three-year period if the individuals remain affiliated with the Company (subject to acceleration of vesting in certain events) and are exercisable for a period of five years from the date of grant. The fair value of the options granted under the Plan was estimated at the date of grant, using the Black-Scholes option-pricing model, with the following weighted-average assumptions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ 2019 Risk-free interest rate ​ ​ 0.519% to 0.873% ​ ​ 0.157% to 0.322% ​ ​ 1.45% to 1.87% Dividend yield ​ ​ 0.00% ​ ​ 0.00% ​ ​ 0.00% Volatility factor of the expected market price of common stock ​ ​ 63% ​ ​ 59% ​ ​ 58% Weighted-average expected life of option ​ ​ 3.5 years ​ ​ 3.5 years ​ ​ 3.5 years Weighted-average grant date fair value ​ $ 1.22 ​ $ 1.22 ​ $ 1.73 ​ During the year ended December 31, 2021, the Company recorded stock option expense of $0.84 million (2020 – $0.6 million, 2019 – $0.7 million) while the corresponding fair value of awards vesting in the period was $0.8 million (2020 – $0.1 million and 2019 – $0.4 million). At December 31, 2021, there was $0.6 million (2020 – $1.4 million, 2019 - $1.0 million) of unrecognized compensation expense related to 3.9 million (2020 – 6.1 million, 2019 – 3.0 million) unvested stock options outstanding. This cost is expected to be recognized over a weighted-average period of approximately 1.4 years (2020 – 1.6 years, 2019 – 1.5 years). The following table summarizes the status and activity of non-vested stock options for the year ended December 31, 2021, for the Company’s Plan and the replacement options from the acquisition of Lexam: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ Grant Date ​ ​ Number of ​ Fair Value ​ Shares Per Share ​ ​ (in thousands, except per share amounts) Non-vested, beginning of year ​ 6,093 ​ $ 0.44 Granted ​ 950 ​ $ 0.44 Cancelled/Forfeited ​ (1,339) ​ $ 0.46 Vested ​ (1,799) ​ $ 0.45 Non-vested, end of year ​ 3,906 ​ $ 0.43 ​

NET LOSS PER SHARE

NET LOSS PER SHARE	12 Months Ended
	Dec. 31, 2021
NET LOSS PER SHARE
NET LOSS PER SHARE	NOTE 14 NET LOSS PER SHARE Basic net income (loss) per share is computed by dividing the net income or (loss) available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted net income per share is computed similarly except that the weighted average number of common shares is increased to reflect all dilutive instruments. Diluted net income per share is calculated using the treasury stock method. In applying the treasury stock method, employee stock options with an exercise price greater than the average quoted market price of the common shares for the period outstanding are not included in the calculation of diluted net income per share as the impact is anti-dilutive. Potentially dilutive instruments are not considered in calculating the diluted loss per share, as their effect would be anti-dilutive. Below is a reconciliation of the basic and diluted weighted average number of common shares and the computations for basic and diluted net (loss) per share for the years ended December 31, 2021, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ ​ 2021 2020 2019 ​ ​ ​ ​ (amounts in thousands, unless otherwise noted) ​ Net loss ​ ​ $ (56,712) ​ $ (152,325) ​ $ (59,747) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding: ​ ​ ​ 454,899 ​ ​ 403,457 ​ ​ 361,845 ​ Diluted shares outstanding: ​ ​ ​ 454,899 ​ ​ 403,457 ​ ​ 361,845 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss per share - basic and diluted ​ ​ $ (0.12) ​ $ (0.38) ​ $ (0.17) ​ ​ For the years ended December 31, 2021, 2020 and 2019, all outstanding options to purchase shares of common stock and share purchase warrants were excluded from the respective computations of diluted loss per share, as the Company was in a loss position, and all potentially dilutive instruments were anti-dilutive and therefore not included in the calculation of diluted net loss per share.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2021
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 15 RELATED PARTY TRANSACTIONS The Company incurred the following expense in respect to the related parties outlined below during the periods presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2021 2020 2019 Lexam L.P. $ 78 ​ $ 99 ​ $ 133 REVlaw ​ 347 ​ ​ 158 ​ ​ 188 ​ The Company has the following outstanding accounts payable balance in respect to the related parties outlined below: ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ December 31, 2020 Lexam L.P. $ — ​ $ 72 REVlaw ​ 137 ​ ​ 90 ​ 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 and continued as such under the ARCA. During the year ended December 31, 2021, the Company paid $2.8 million (year ended December 31, 2020 – $2.4 million) in interest to this affiliate. Note 11 On August 23, 2021, an affiliate of Mr. McEwen participated in the Series B private placement offering conducted by McEwen Copper Inc. (“McEwen Copper”) (Note 20).

FAIR VALUE ACCOUNTING

FAIR VALUE ACCOUNTING	12 Months Ended
	Dec. 31, 2021
FAIR VALUE ACCOUNTING
FAIR VALUE ACCOUNTING	NOTE 16 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. Warrants Upon initial recognition, the warrants received as part of the asset sale to Nevgold (Note 4) were fair valued using the Black-Scholes valuation model as they are not quoted in an active market. Subsequently, the warrants have been accounted for as equity investment at cost. Average volatility of 94.6% was determined based on a selection of similar junior mining companies. The warrants are exercisable upon receipt and have an exercise price of $0.60 per share and expire June 23, 2023. As of December 31, 2021, no warrants related to the Nevgold transaction have been exercised. Assets and liabilities measured at fair value on a recurring basis The following tables identify 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 December 31, 2021 and 2020, as reported in the Consolidated Balance Sheets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value as at December 31, 2021 Fair value as at December 31, 2020 ​ Level 1 Level 2 Total Level 1 Level 2 Total Marketable equity securities ​ $ 1,644 ​ $ — ​ $ 1,644 ​ $ — ​ $ — ​ $ — Total investments ​ $ 1,644 ​ $ — ​ $ 1,644 ​ $ — ​ $ — ​ $ — ​ The Company's investments as at December 31, 2021 mainly 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. 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	12 Months Ended
	Dec. 31, 2021
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 17 COMMITMENTS AND CONTINGENCIES Commitments The following are minimum commitments of the Company as at December 31, 2021, and related payments due over the following five years: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Payments due by period ​ ​ 2022 ​ 2023 ​ 2024 ​ 2025 ​ Thereafter ​ Total Mining and surface rights ​ $ 492 ​ $ 488 ​ $ 470 ​ $ 443 ​ $ — $ 1,893 Exploration ​ ​ 8,116 ​ ​ 15,080 ​ ​ — ​ ​ — ​ ​ — ​ 23,196 Reclamation costs (1) ​ ​ 6,358 ​ ​ 5,873 ​ ​ 525 ​ ​ 1,186 ​ ​ 29,215 ​ 43,157 Long-term debt ​ ​ 4,875 ​ ​ 14,712 ​ ​ 32,710 ​ ​ 10,027 ​ ​ — ​ 62,324 Lease obligations ​ ​ 2,949 ​ ​ 1,058 ​ ​ 441 ​ ​ — ​ ​ — ​ 4,448 Total ​ $ 22,791 ​ $ 37,210 ​ $ 34,146 ​ $ 11,656 ​ $ 29,215 $ 135,018 (1) Amounts presented represent the undiscounted uninflated future payments. Reclamation Bonds As part of its ongoing business and operations, the Company is required to provide bonding for its environmental reclamation obligations of $25.3 million in Nevada pertaining primarily to the Tonkin and the Gold Bar properties and $12.4 million (C$15.6 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 non-current restricted cash ( Note 18 Surety Bonds As at December 31, 2021, the Company had a surety facility in place to cover all its bonding obligations, which include $25.3 million of bonding in Nevada and $12.4 million (C$15.6 million) of bonding in Canada. The terms of the facility carry an average annual financing fee of 2.3% and require a deposit of 10%. 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. As at December 31, 2021, the Company recorded $3.6 million in restricted cash as a deposit against the surety facility (Note 18) Streaming Agreement As part of the acquisition of the Fox Complex in 2017, the Company assumed a gold purchase agreement (streaming contract) related to production, if any, from certain claims. Under the streaming contract, 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 revenue on these shipments based on the contract price at the time of delivery to the customer. During the year ended December 31, 2021, the Company recorded revenue of $1.3 million (2020 – $1.2 million) related to the gold stream sales. Flow-through Eligible Expenses In January 2021, the Company close a flow-through share issuance to fund the development at the Froome deposit. As of December 31, 2021, the Company incurred the full required spend of $12.7 million in CDE. In 2020, the Company completed two flow-through share issuances. The total proceeds of $18.3 million will be used to incur qualifying CEE in the Timmins region of Ontario by December 31, 2022. As of December 31, 2021, the Company has incurred $12.7 million of the required CEE spend (December 31, 2020 - $1.9 million). Other potential contingencies The Company’s mining and exploration activities are subject to various laws and regulations governing the protection of the environment. These laws and regulations are continually changing and generally becoming more restrictive. The Company conducts its operations so as to protect public health and the environment, and believes its operations are materially in compliance with all applicable laws and regulations. The Company has made, and expects to make in the future, expenditures to comply with such laws and regulations. The Company and its predecessors have transferred their interest in several mining properties to third parties throughout its history. The Company could remain potentially liable for environmental enforcement actions related to its prior ownership of such properties. However, the Company has no reasonable belief that any violation of relevant environmental laws or regulations has occurred regarding these transferred properties.

CASH, CASH EQUIVALENTS AND REST

CASH, CASH EQUIVALENTS AND RESTRICTED CASH	12 Months Ended
	Dec. 31, 2021
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	NOTE 18 CASH AND CASH EQUIVALENTS AND RESTRICTED CASH The following table provides a reconciliation of cash and cash equivalents, and restricted cash reported within the Consolidated Balance Sheets Consolidated Statements of Cash Flows ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ December 31, 2020 Cash and cash equivalents ​ $ 54,287 ​ $ 20,843 Restricted cash - current ​ ​ 2,550 ​ ​ - Restricted cash - non-current ​ ​ 3,797 ​ ​ 3,595 Total cash, cash equivalents, and restricted cash ​ $ 60,634 ​ $ 24,438 ​ Cash and cash equivalents include $37.3 million from the first tranche of private placement for the advancement of the operations of McEwen Copper (Note 15) The current portion of restricted cash are proceeds received as at December 31, 2021 as part of the Company’s ongoing second tranche financing for McEwen Copper. The non-current portion of restricted cash includes deposits related to the Company’s reclamation obligations and surety facility (Note 17).

INCOME AND MINING TAXES

INCOME AND MINING TAXES	12 Months Ended
	Dec. 31, 2021
INCOME AND MINING TAXES.
INCOME AND MINING TAXES	NOTE 19 INCOME AND MINING TAXES The Company’s deferred income and mining tax benefit consisted of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 United States ​ $ 387 ​ $ 817 ​ $ 2,420 Foreign ​ ​ 6,928 ​ ​ 573 ​ ​ 1,424 Deferred tax benefit ​ $ 7,315 ​ $ 1,390 ​ $ 3,844 ​ The Company’s net loss before income and mining tax consisted of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 ​ 2019 United States ​ $ (24,808) ​ $ (127,524) ​ $ (22,319) Foreign ​ ​ (39,391) ​ ​ (26,191) ​ ​ (41,272) Loss before income and mining taxes ​ $ (64,199) ​ $ (153,715) ​ $ (63,591) ​ A reconciliation of the tax provision for 2021, 2020 and 2019 at statutory U.S. Federal and State income tax rates to the actual tax provision recorded in the financial statements is computed as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Expected tax recovery at 2021 2020 2019 Loss before income and mining taxes ​ $ (64,199) ​ $ (153,715) ​ $ (63,591) Statutory tax rate ​ ​ 21% ​ ​ 21% ​ ​ 21% US Federal and State tax expense at statutory rate ​ ​ (13,482) ​ ​ (32,280) ​ ​ (13,354) Reconciling items: ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity pickup in MSC ​ 1,326 ​ 374 ​ 2,626 Deferred foreign income inclusion ​ — ​ 795 ​ 598 Realized flow-through expenditures ​ ​ 6,148 ​ ​ 496 ​ ​ 3,150 Realized flow-through premium ​ ​ (3,486) ​ ​ (338) ​ ​ (2,954) Adjustment for foreign tax rates ​ (3,039) ​ (2,043) ​ (200) Other permanent differences ​ 9,353 ​ (2,546) ​ 8,421 NOL expires and revisions ​ 241 ​ 1,066 ​ 810 Valuation allowance ​ (4,377) ​ 33,086 ​ (2,941) Income and mining tax recovery ​ $ (7,315) ​ $ (1,390) ​ $ (3,844) ​ The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as at December 31, 2021 and 2020 respectively are presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Deferred tax assets: ​ ​ ​ ​ ​ ​ ​ Net operating loss carryforward ​ $ 70,830 ​ $ 66,085 ​ Mineral Properties ​ 59,426 ​ 66,038 ​ Other temporary differences ​ 29,009 ​ 30,999 ​ Total gross deferred tax assets ​ 159,265 ​ 163,122 ​ Less: valuation allowance ​ (149,921) ​ (154,298) ​ Net deferred tax assets ​ $ 9,344 ​ $ 8,824 ​ Deferred tax liabilities: ​ ​ ​ ​ ​ ​ ​ Acquired mineral property interests ​ ​ (9,344) ​ ​ (12,637) ​ Total deferred tax liabilities ​ $ (9,344) ​ $ (12,637) ​ Deferred income and mining tax liability ​ $ — ​ $ (3,813) ​ ​ The Company reviews the measurement of its deferred tax assets at each balance sheet date. On the basis of available information at December 31, 2020, the Company has provided a valuation allowance for certain of its deferred assets where the Company believes it is more likely than not that some portion or all of such assets will not be realized. The table below summarizes changes to the valuation allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, Balance at beginning of year Additions(a) Deductions(b) Balance at end of year 2021 ​ $ 154,298 ​ $ 4,058 ​ $ (8,435) ​ $ 149,921 2020 ​ ​ 121,212 ​ ​ 39,794 ​ ​ (6,708) ​ ​ 154,298 2019 ​ ​ 124,153 ​ ​ 2,104 ​ ​ (5,045) ​ ​ 121,212 (a) The additions to valuation allowance mainly result from the Company and its subsidiaries incurring losses and exploration expenses for tax purposes which do not meet the more-likely-than-not criterion for recognition of deferred tax assets. (b) The reductions to valuation allowance mainly result from release of valuation allowance, expiration of the Company’s tax attributes, foreign exchange reductions of tax attributes in Canada, Mexico and Argentina and inflationary adjustments to tax attributes in Argentina. As at December 31, 2021 and 2020, the Company did not have any income-tax related accrued interest and tax penalties. The following table summarizes the Company’s losses that can be applied against future taxable profit: ​ ​ ​ ​ ​ ​ ​ ​ ​ Country Type of Loss Amount Expiry Period United States (a) ​ Net-operating losses ​ $ 190,271 ​ 2027-Unlimited Mexico ​ Net-operating losses ​ ​ 45,641 ​ 2022-2030 Canada (a) ​ Net-operating losses ​ ​ 30,720 ​ 2025-2040 Argentina (a) ​ Net-operating losses ​ ​ 26,367 ​ 2021-2025 (a) The losses in the United States, Canada, and Argentina are part of multiple consolidating groups, and therefore, may be restricted in use to specific projects. The Company or its subsidiaries file income tax returns in the United States, Canada, Mexico, and Argentina. These tax returns are subject to examination by local taxation authorities provided the tax years remain open to audit under the relevant statute of limitations. The following summarizes the open tax years by major jurisdiction: United States: 2017 to 2020 Canada: 2013 to 2020 Mexico: 2016 to 2020 Argentina: 2016 to 2020

NON-CONTROLLING INTERESTS

NON-CONTROLLING INTERESTS	12 Months Ended
	Dec. 31, 2021
NON-CONTROLLING INTERESTS
NON-CONTROLLING INTERESTS	NOTE 20 NON-CONTROLLING INTERESTS ​ On August 23, 2021, the Company announced that its subsidiary, McEwen Copper, closed the first tranche of Series B private placement offering where McEwen Copper issued 4,000,000 common shares at a price of $10.00 per share for gross proceeds of $40.0 million. An affiliate of Mr. McEwen purchased all the shares pursuant to this first tranche. As of December 31, 2021, the affiliate holds 18.6% ownership of McEwen Copper. As a result of the common shares issued, the Company’s 100% ownership in McEwen Copper was reduced by 18.6%. The Company assessed the 18.6% as non-redeemable non-controlling interests. Consequently, the Company recorded $14.8 million as non-controlling interests and $25.2 million as additional paid-in-capital. ​

UNAUDITED SUPPLEMENTARY QUARTER

UNAUDITED SUPPLEMENTARY QUARTERLY INFORMATION	12 Months Ended
	Dec. 31, 2021
UNAUDITED SUPPLEMENTARY QUARTERLY INFORMATION
UNAUDITED SUPPLEMENTARY QUARTERLY INFORMATION	NOTE 21 UNAUDITED SUPPLEMENTARY QUARTERLY INFORMATION The following table summarizes unaudited supplementary quarterly information for the years ended December 31, 2021 and 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ March 31, 2021 June 30, 2021 September 30, 2021 December 31, 2021 ​ ​ (unaudited) (in thousands, except per share) Revenue from gold and silver sales ​ $ 23,740 ​ $ 40,706 ​ $ 37,129 ​ $ 34,966 Gross (loss) ​ ​ (4,986) ​ ​ 4,059 ​ ​ 344 ​ ​ (5,897) Net loss attributable to McEwen shareholders ​ ​ (12,466) ​ ​ (5,989) ​ ​ (17,401) ​ ​ (21,028) Net loss per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted ​ $ (0.03) ​ $ (0.01) ​ $ (0.04) ​ $ (0.05) Weighted average shares outstanding: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted ​ ​ 441,794 ​ ​ 459,187 ​ ​ 459,187 ​ ​ 454,899 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ March 31, 2020 June 30, 2020 September 30, 2020 December 31, 2020 ​ ​ (unaudited) (in thousands, except per share) Revenue from gold and silver sales ​ $ 31,400 ​ $ 18,291 ​ $ 27,395 ​ $ 27,703 ​ Gross profit ​ ​ (3,685) ​ ​ (8,875) ​ ​ (701) ​ ​ (13,687) ​ Net loss attributable to McEwen shareholders ​ ​ (99,191) ​ ​ (19,814) ​ ​ (9,778) ​ ​ (23,542) ​ Net loss per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted ​ $ (0.25) ​ $ (0.05) ​ $ (0.02) ​ $ (0.06) ​ Weighted average shares outstanding: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted ​ 400,370 ​ ​ 400,513 ​ ​ 403,887 ​ 408,959 ​ ​

COMPARATIVE FIGURES

COMPARATIVE FIGURES	12 Months Ended
	Dec. 31, 2021
COMPARATIVE FIGURES
COMPARATIVE FIGURES	NOTE 22 COMPARATIVE FIGURES Certain amounts in prior years have been reclassified to conform to the current year’s presentation. Reclassified amounts were not material to the financial statements and relate to the presentation of Other Operating Expenses. Advanced projects Statement of Operations Exploration Statement of Operations General and Administrative Statement of Operations

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2021
SUBSEQUENT EVENTS.
SUBSEQUENT EVENTS	NOTE 23 SUBSEQUENT EVENTS Flow-Through Financing On March 2, 2022, the Company closed the private placement offering of 14,500,000 flow-through common shares priced at $1.04, previously announced on February 11, 2022. The gross proceeds of $15.1 million from the financing will be used to fund qualified Canadian Exploration Expenditures at the Fox Complex.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation and Use of Estimates	Basis of Presentation and Use of Estimates: ​ The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of the Company’s consolidated financial statements requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions relate to environmental reclamation and closure obligations; asset useful lives utilized for depletion, depreciation, amortization and accretion calculations; fair value of equity investment and the impairment test; recoverable gold in leach pad inventory; current and long-term inventory; mine development capitalization costs; the collectability of value added taxes receivable; reserves; valuation allowances for deferred tax assets; income and mining tax provisions; reserves for contingencies and litigation and costs related to COVID-19. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results may differ significantly from these estimates. References to “C$” refer to Canadian currency.
COVID-19	COVID-19: The Company continues to closely monitor and respond, as possible, to the ongoing COVID-19 pandemic. As the global situation continues to change rapidly, ensuring the health and safety of the Company’s employees and contractors is one of the Company’s top priorities. Many jurisdictions including the United States, Canada, Mexico, and Argentina have varied but continued restrictions to travel, public gatherings, and certain business operations. Unlike the year 2020, during 2021 there were no mandated suspensions for the Company’s operations. In addition, vaccination rates in countries where the Company operates continue to increase The Company’s results of operations, financial position, and cash flows were adversely affected in both 2020 and 2021 due to COVID-19. The continuing impact of the COVID-19 pandemic on the Company’s results of operations, financial position and cash flows will depend on future developments, including the duration and spread of the outbreak, variants of the COVID-19 virus, the availability, ongoing effectiveness, development and distribution of vaccinations and treatments and on government advisories, restrictions, and financial assistance offered. To ensure a safe working environment for the Company’s employees and contractors and to prevent the spread of COVID-19, the Company continues to reinforce safety measures at all sites and offices including contact tracing, restricting non-essential travel, and complying with public health orders. The impact of COVID-19 on the global financial markets, the overall economy and the Company are highly uncertain and cannot be predicted. Maintaining normal operating capacity is also dependent on the continued availability of supplies and contractors, which are out of the Company’s control. If the financial markets and/or the overall economy continue to be impacted, the Company’s results of operations, financial position and cash flows may be further affected. As the situation continues to evolve, the Company will continue to monitor market conditions closely and respond accordingly. During 2021, the Company raised $12.7 million and $31.5 million through a Canadian Development Expenses (“CDE”) flow-through common share issuance and an equity financing and a subsidiary of the Company secured an additional $40.0 million for its Los Azules project in Argentina. See Item 8 . Financial Statements and Supplementary Data Note 13 Shareholders’ Equity . Continuation of COVID-19 in 2022 and beyond could impact employee health, workforce productivity, insurance premiums, ability to travel, the availability of industry experts, personnel and equipment, restrictions or delays to field work, studies, and assay results, impeding access to capital markets when needed on acceptable term and other factors that will depend on future developments that may be beyond our control. The Company has completed various scenario planning analyses to consider the potential impacts of COVID-19 on its business, including volatility in commodity prices, temporary disruptions and/or curtailments of operating activities (voluntary or involuntary). However, there is no assurance that these measures will prevent adverse effects from COVID-19 in the future.
Basis of Consolidation	Basis of Consolidation: The consolidated financial statements include the accounts of the Company and its wholly-owned and majority-owned subsidiaries. Intercompany accounts and transactions have been eliminated. Investments over which the Company exerts significant influence but does not control through majority ownership are accounted for using the equity method, as described in Investments,
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents and Restricted Cash: The Company considers cash in banks, deposits in transit, and highly liquid term deposits with remaining maturities of three months or less at the date of acquisition to be cash and cash equivalents. Because of the short maturity of these instruments, the carrying amounts approximate their fair value. The Company classifies Restricted cash between short term and long term based on the restrictions.
Investments	Investments: The Company accounts for investments over which the Company exerts significant influence but does not control through majority ownership using the equity method of accounting pursuant to ASC Topic 323, Investments – Equity Method and Joint Ventures Consolidated Balance Sheet Consolidated Statements of Operations and Comprehensive (Loss) Statement of Operations Impairment of Long-lived Assets The Company’s investments in marketable equity securities and warrants are measured at fair value at each period end with changes in fair value recognized in net (loss) income in the Statement of Operations
Value Added Taxes Receivable	Value Added Taxes Receivable: In Mexico, Argentina, and Canada, value added taxes (“VAT” and “HST”, respectively) are assessed on purchases of materials and services and sales of products. Businesses are generally entitled to recover the taxes they have paid related to purchases of materials and services, either as a refund or as a credit against future taxes payable.
Stockpiles, Material on Leach Pads, In-process Inventory, Precious Metals Inventory and Materials and Supplies	Stockpiles, Material on Leach Pads, In-process Inventory, Precious Metals Inventory and Materials and Supplies: Stockpiles represent mineralized material extracted from the mine and available for processing. Stockpiles are measured by estimating the number of tonnes added and removed from the stockpile, an estimate of the contained metals (based on assay data) and the estimated metallurgical recovery rates. Costs are allocated to stockpiles based on current mining costs incurred including applicable overhead relating to mining operations. Material is removed from the stockpile at an average cost per tonne. Mineralized material on leach pads is the material that is placed on pads where it is treated with a chemical solution that dissolves the gold contained in the mineralized material over a period of time. Costs are attributed to the mineralized material on leach pads based on current mining costs and processing costs incurred related to the ore on the pad. Costs are removed from the leach pad inventory based on the average cost per estimated recoverable ounce of gold on the leach pad as the gold is recovered. The estimates of recoverable gold on the leach pads are calculated from the quantities of mineralized material placed on the leach pads (measured tonnes added to the leach pads), the grade of mineralized material placed on the leach pads (based on assay data) and a recovery percentage. While the quantities of recoverable gold placed on the leach pads are periodically reconciled by comparing the grades of ore placed on the pads to the quantities of gold actually recovered (metallurgical balancing), the nature of the leaching process inherently limits the ability to precisely monitor inventory levels. As a result, the metallurgical balancing process is constantly monitored, and the engineering estimates are refined based on actual results over time. In-process inventories represent materials that are currently in the process of being converted to a saleable product. In-process material is measured based on assays of the material from the various stages of processing. Costs are allocated to in-process inventories based on the costs of the material fed into the process attributable to the source material coming from the mines, stockpiles and/or leach pads plus the in-process conversion costs incurred to that point in the process. Precious metal inventories include gold and silver doré and bullion that is unsold and held at the Company’s or the refinery’s facilities. Costs are allocated to precious metal inventories based on costs of the respective in-process inventories incurred prior to the refining process plus applicable refining costs. Materials and supplies inventories are comprised of chemicals, reagents, spare parts and consumable parts used in operating and other activities. Cost includes applicable taxes and freight.
Proven and Probable Reserves	Proven and Probable Reserves: The definition of proven and probable reserves is set forth in S-K 1300. Proven mineral reserves are the economically mineable part of a measured mineral resource. For a proven mineral reserve, the qualified person has a high degree of confidence in the results obtained from the application of modifying factors and in the estimates of tonnage and grade or quality. A proven mineral reserve can only result from the conversion of a mineral resource. Probable mineral reserves are the economically mineable part of an indicated and, in some cases, measured mineral resource. For a probable mineral reserve, the qualified person’s confidence in the results obtained from the application of the modifying factors and in the estimates of tonnage and grade or quality is lower than what is sufficient for a classification as a proven mineral reserve, but is still sufficient to demonstrate that, at the time of reporting, extraction of the mineral reserve is economically viable under reasonable investment and market assumptions. The lower level of confidence is due to higher geologic uncertainty when the qualified person converts an indicated mineral resource to a probable reserve or higher risk in the results of the application of modifying factors at the time when the qualified person converts a measured mineral resource to a probable mineral reserve. A qualified person must classify a measured mineral resource as a probable mineral reserve when his or her confidence in the results obtained from the application of the modifying factors to the measured mineral resource is lower than what is sufficient for a proven mineral reserve.
Mineral Property Interests and Plant and Equipment	Mineral Property Interests and Plant and Equipment: Mineral property interests: Development costs include engineering and metallurgical studies, drilling and other related costs to delineate an ore body, and the removal of overburden to initially expose an ore body at open pit surface mines (“pre-stripping”) and building of access paths and other infrastructure to gain access to the ore body at underground mines. Development costs are charged to operations in the year incurred as Advanced Projects During the production phase of a mine, costs incurred to provide access to reserves and resources that will be produced in future periods that would not have otherwise been accessible are capitalized and included in the carrying amount of the related mineral property interest. Drilling and related costs are capitalized for an ore body where proven and probable reserves exist and the activities are directed at obtaining additional information, providing greater definition of the ore body or converting non-reserve mineralization to proven and probable reserves and the benefit is expected to be realized over a period beyond one year. All other drilling and related costs are expensed as incurred as Exploration Advanced Projects Mineral property interests are amortized upon commencement of production on a unit-of-production basis over proven and probable reserves, as defined by S-K 1300. When a property does not contain mineralized material that satisfies the definition of proven and probable reserves, the amortization of the capitalized costs is charged to expense based on the most appropriate method, which includes straight-line method and units-of-production method over the estimated useful life of the mine, as determined by internal mine plans. Plant and Equipment: For properties where the Company did not establish proven and probable reserves as defined by S-K 1300, substantially all costs, including design, engineering, construction, and installation of equipment are expensed as incurred, unless the equipment has alternative uses or significant salvage value, in which case the equipment is capitalized at cost. Construction-in-progress (“CIP”) costs:
Impairment of Long-lived Assets	Impairment of Long-Lived Assets: 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 estimated fair value. For the purpose of recognition and measurement of impairment, the Company groups its long-lived assets by specific mine or project, as this represents the lowest level for which identifiable cash flows exist. For asset groups where an impairment indicator is identified, an impairment loss is determined if the carrying amount of the asset group exceeds the recoverable amount as determined using the undiscounted future net cash flows. An impairment loss, if any, is the amount by which the carrying amount exceeds the discounted future net cash flows. It is possible that actual future cash flows will be significantly different than the estimates, as actual future quantities of recoverable minerals, gold, silver and other commodity prices, production levels and costs of capital are each subject to significant risks and uncertainties. For asset groups where the Company is unable to determine a reliable estimate of future net cash flows, the Company adopts a market approach to estimate fair value by using a combination of observed market value per square mile and observed market value per ounce or pound of estimated mineralized material based on comparable transactions.
Reclamation and Remediation Liabilities	Reclamation and Remediation Liabilities: Provisions for environmental rehabilitation are made in respect of the estimated future costs of closure and restoration and rehabilitation costs (which include the dismantling and demolition of infrastructure, removal of residual materials and remediation of disturbed areas) in the accounting period when the related environmental disturbance occurs. The associated asset retirement costs, including periodic adjustments, if any, are capitalized as part of the carrying amount of the long-lived asset when proven or probable reserves exist or if they relate to an acquired mineral property interest; otherwise, the costs are charged to the operations. Periodic accretion is recorded to reclamation and remediation liabilities and charged to operations. The fair value of reclamation and remediation liabilities is measured by discounting the expected cash flows adjusted for inflation, using a credit-adjusted risk free rate of interest. The Company prepares estimates of the timing and amounts of expected cash flows when an reclamation and remediation liabilities is incurred, which are updated to reflect changes in facts and circumstances. Estimation of the fair value of reclamation and remediation liabilities requires significant judgment, including amount of cash flows, timing of reclamation, inflation rate and credit risk.
Lease Accounting	Lease Accounting: Contracts are analyzed to identify whether the contract contains an operating or financing lease according to ASC 842. If a contract is determined to contain a lease, the Company will include lease payments (the lease liability) and the right-of-use asset (“ROU”) representing the right to the underlying asset for the lease term within the Consolidated Balance Sheets Consolidated Balance Sheets Statement of Operations. ROU asset balances and lease liabilities are recognized at the commencement date of the lease based on the present value of the future lease payments over the lease term. The Company utilizes the incremental borrowing rate (“IBR”) in determining the present value of the future lease payments. IBR represents the rate of interest that a lessee would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term in a similar economic environment. Each lease’s IBR is determined by using the average bond yield ratings for comparable companies.
Revenue Recognition	Revenue Recognition: Revenue consists of proceeds received and expected to be received for the Company’s principal products, gold and silver. Revenue is recognized when title to gold and silver passes to the buyer and when collectability is reasonably assured. Title passes to the buyer based on terms of the sales contract, usually upon delivery of the product. Product pricing is determined under the sales agreements which are referenced against active and freely traded commodity markets, for example, the London Bullion Market for both gold and silver, in an identical form to the product sold. Gold and silver doré produced from the San José mine is sold at the prevailing spot market price based on the London A.M. fix, while concentrates are sold at the prevailing spot market price based on either the London P.M. fix or average of the London A.M. and London P.M. fix depending on the sales contract. Concentrates are provisionally priced, whereby the selling price is subject to final adjustments at the end of a period ranging from 30 to 90 days after delivery to the customer. The final price is based on the market price of the precious metal content at the relevant quotation point stipulated in the contract. Due to the time elapsed between shipment and the final settlement with the buyer, MSC must estimate the prices at which sales of metals will be settled. At the end of each financial reporting period, previously recorded provisional sales are adjusted to estimated settlement metals prices based on relevant forward market prices until final settlement with the buyer.
Foreign Currency	Foreign Currency: The functional currency for the Company’s operations is the U.S. dollar. All monetary assets and liabilities denominated in a currency which is not the U.S. dollar are translated at current exchange rates at each balance sheet date and the resulting adjustments are included in a separate line item under other income (expense). Revenues and expenses in foreign currencies are translated at the average monthly exchange rates for the corresponding period.
Stock-Based Compensation	Stock-Based Compensation: The Company accounts for stock options at fair value as prescribed in ASC 718. The Company estimates the fair value of each stock option at the grant date by using the Black-Scholes option-pricing model and provides for expense recognition over the service period, if any, of the stock option. The Company’s estimates may be impacted by certain variables including, but not limited to, stock price volatility, employee stock option exercise behavior and estimates of forfeitures.
Flow-Through Common Shares	Flow-Through Common Shares: Current Canadian tax legislation permits mining entities to issue flow-through common shares to investors by which the deductions for tax purposes related to resource exploration and evaluation expenditures may be claimed by investors instead of the entity, subject to a renouncement process. Under ASC 740, proceeds from the issuance of flow-through common shares are allocated first to the common stock based on the underlying quoted price of shares and the residual amount is allocated to the sale of tax benefits, which is classified as a liability. In the future, as the Company incurs qualifying exploration and evaluation expenditures to fulfill its obligation, the liability is drawn down and the sale of tax benefits is recognized in the Statement of Operations as a reduction of deferred tax expense.
Income and Mining Taxes	Income and Mining Taxes: The Company accounts for income and mining taxes under ASC 740 using the liability method, recognizing certain temporary differences between the financial reporting basis of liabilities and assets and the related tax basis for such liabilities and assets. This method generates either a net deferred income and mining tax liability or asset for the Company, as measured by the statutory tax rates in effect. The Company derives the deferred income and mining tax charge or benefit by recording the change in either the net deferred income and mining tax liability or asset balance for the year. The Company records a valuation allowance against any portion of those deferred income and mining tax assets when it believes, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred income and mining tax asset will not be realized.
Comprehensive (Loss) Income	Comprehensive (Loss) Income: In addition to net income or loss, comprehensive income or loss is included in changes in equity during a period.
Per Share Amounts	Per Share Amounts: Basic income or loss per share is computed by dividing income or loss available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted income per share reflects the potential dilution of securities that could share in the earnings of the Company and is computed in accordance with the treasury stock method based on the average number of common shares and dilutive common share equivalents outstanding. Only those instruments that result in a reduction in income per share are included in the calculation of diluted (loss) income per share.
Loans and Borrowings	Loans and Borrowings: Borrowings are recognized initially at fair value, net of financing costs incurred, and subsequently measured at amortized cost. Any difference between the amounts originally received and the redemption value of the debt is recognized in the Statements of Operations
Fair Value of Financial Instruments	Fair Value of Financial Instruments: Fair value accounting establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below: ​ Loans and borrowings: Consolidated Statement of Operations and Comprehensive (Loss) Income Fair Value of Financial Instruments: ​ Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3 Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).

OPERATING SEGMENT REPORTING (Ta

OPERATING SEGMENT REPORTING (Tables)	12 Months Ended
	Dec. 31, 2021
OPERATING SEGMENT REPORTING
Schedule of significant information relating to reportable operating segments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2021 USA ​ Canada ​ Mexico ​ MSC Los Azules Total Revenue from gold and silver sales ​ $ 79,205 ​ $ 50,704 ​ $ 6,632 ​ $ — ​ $ — ​ $ 136,541 Production costs applicable to sales ​ ​ (73,991) ​ ​ (32,961) ​ ​ (12,272) ​ ​ — ​ ​ — ​ (119,224) Depreciation and depletion ​ ​ (8,502) ​ ​ (15,296) ​ ​ — ​ ​ — ​ ​ — ​ ​ (23,798) Gross profit (loss) ​ ​ (3,288) ​ ​ 2,447 ​ ​ (5,640) ​ ​ — ​ ​ — ​ ​ (6,481) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Advanced projects ​ ​ (440) ​ ​ (2,635) ​ ​ (4,345) ​ ​ — ​ $ (5,019) ​ (12,439) Exploration ​ ​ (5,875) ​ ​ (15,017) ​ ​ (14) ​ ​ — ​ ​ (1,698) ​ (22,604) Impairment of mineral property interests and plant and equipment (Note 8) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loss from investment in Minera Santa Cruz S.A. ​ ​ — ​ ​ — ​ ​ — ​ ​ (7,533) ​ ​ — ​ (7,533) Other operating ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Segment loss ​ $ (9,603) ​ $ (15,205) ​ $ (9,999) ​ $ (7,533) ​ $ (6,717) ​ $ (49,056) General and Administrative and other ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (15,143) Loss before income and mining taxes ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ $ (64,199) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital expenditures ​ $ 2,416 ​ $ 33,617 ​ $ — ​ $ — ​ $ — ​ $ 36,033 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2020 USA Canada Mexico MSC Los Azules Total Revenue from gold and silver sales ​ $ 48,884 ​ $ 41,452 ​ $ 14,453 ​ $ — ​ $ — ​ $ 104,789 Production costs applicable to sales ​ ​ (58,465) ​ ​ (34,639) ​ ​ (15,723) ​ ​ — ​ ​ — ​ ​ (108,827) Depreciation and depletion ​ ​ (11,785) ​ ​ (10,883) ​ ​ (242) ​ ​ — ​ ​ — ​ ​ (22,910) Gross (loss) profit ​ ​ (21,366) ​ ​ (4,070) ​ ​ (1,512) ​ ​ — ​ ​ — ​ ​ (26,948) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Advanced projects ​ ​ (1,071) ​ ​ (6,088) ​ ​ (4,522) ​ ​ — ​ ​ — ​ ​ (11,681) Exploration ​ ​ (6,777) ​ ​ (6,450) ​ ​ (513) ​ ​ — ​ ​ (2,121) ​ ​ (15,861) Impairment of mineral property interests and plant and equipment (Note 8) ​ ​ (83,805) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (83,805) Loss from investment in Minera Santa Cruz S.A. ​ ​ — ​ ​ — ​ ​ — ​ ​ (1,517) ​ ​ — ​ ​ (1,517) Other operating ​ ​ (1,390) ​ ​ (578) ​ ​ — ​ ​ — ​ ​ — ​ ​ (1,968) Segment loss ​ $ (114,409) ​ $ (17,186) ​ $ (6,547) ​ $ (1,517) ​ $ (2,121) ​ $ (141,780) General and Administrative and other ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (11,935) Loss before income and mining taxes ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ $ (153,715) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital expenditures ​ $ 4,821 ​ $ 9,104 ​ $ — ​ $ — ​ $ — ​ $ 13,925 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2019 USA Canada Mexico MSC Los Azules Total Revenue from gold and silver sales ​ $ 43,847 ​ $ 50,058 ​ $ 23,114 ​ $ — ​ $ — ​ $ 117,019 Production costs applicable to sales ​ ​ (33,614) ​ ​ (31,121) ​ ​ (18,545) ​ ​ — ​ ​ — ​ ​ (83,280) Depreciation and depletion ​ ​ (10,934) ​ ​ (13,271) ​ ​ (548) ​ ​ — ​ ​ — ​ ​ (24,753) Gross profit ​ ​ (701) ​ ​ 5,666 ​ ​ 4,021 ​ ​ — ​ ​ — ​ ​ 8,986 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Advanced projects ​ ​ (649) ​ ​ (1,636) ​ ​ (7,235) ​ ​ — ​ ​ — ​ ​ (9,520) Exploration ​ ​ (8,554) ​ ​ (25,779) ​ ​ — ​ ​ — ​ ​ (3,411) ​ ​ (37,744) Loss from investment in Minera Santa Cruz S.A. ​ ​ — ​ ​ — ​ ​ — ​ ​ (8,754) ​ ​ — ​ ​ (8,754) Segment (loss) income ​ $ (9,904) ​ $ (21,749) ​ $ (3,214) ​ $ (8,754) ​ $ (3,411) ​ $ (47,032) General and Administrative and other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (16,559) Loss before income and mining taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (63,591) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital expenditures ​ $ 18,806 ​ $ 11,464 ​ $ — ​ $ — ​ $ — ​ $ 30,270
Schedule of geographic information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-lived Assets ​ Revenue (1) ​ ​ December 31, ​ December 31, ​ Year ended December 31, ​ 2021 2020 2021 ​ 2020 ​ 2019 USA ​ $ 37,878 ​ $ 46,801 ​ $ 79,205 ​ $ 48,884 ​ $ 43,847 Canada ​ ​ 93,294 ​ ​ 78,986 ​ ​ 50,704 ​ ​ 41,452 ​ ​ 50,058 Mexico ​ ​ 26,561 ​ ​ 20,021 ​ ​ 6,632 ​ ​ 14,453 ​ ​ 23,114 Argentina (2) ​ ​ 282,583 ​ ​ 299,816 ​ ​ — ​ ​ — ​ ​ — Total consolidated ​ $ 440,316 ​ $ 445,624 ​ $ 136,541 ​ $ 104,789 ​ $ 117,019 (1) Presented based on the location from which the product originated. (2) Includes Investment in MSC of $90.9 million as of December 31, 2021 (December 31, 2020 - $108.3 million). (3) Total excludes $0.4 million (December 31, 2020 - $0.6 million) related to the Company’s ROU 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)	12 Months Ended
	Dec. 31, 2021
OTHER INCOME
Schedule of other income (expense)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2021 2020 ​ 2019 COVID-19 relief $ 3,541 ​ $ 6,420 ​ $ — Unrealized and realized gain (loss) on investments (Note 5) ​ 28 ​ ​ (619) ​ ​ 5,259 Foreign currency gain ​ 513 ​ ​ 1,078 ​ ​ 1,697 Other income, net ​ 2,199 ​ ​ 14 ​ ​ 184 Total other income $ 6,281 ​ $ 6,893 ​ $ 7,140

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2021
INVESTMENTS
Summary of investment portfolio	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at ​ Additions/ ​ ​ ​ Disposals/ ​ Unrealized ​ Fair value ​ ​ December 31, ​ transfers during ​ Net gain (loss) on ​ transfers during ​ gain on ​ December 31, ​ 2020 period securities sold year securities held 2021 Marketable equity securities ​ $ — ​ $ 1,616 ​ $ — ​ $ — ​ $ 28 ​ $ 1,644 Warrants ​ — ​ 162 ​ — ​ — ​ — ​ 162 Investments ​ $ — ​ $ 1,777 ​ $ — ​ $ — ​ $ 28 ​ $ 1,806 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at ​ Additions/ ​ Net ​ Disposals/ ​ Unrealized ​ Fair value ​ ​ December 31, ​ transfers during ​ (loss) on ​ transfers during ​ (loss) on ​ December 31, ​ 2019 period securities sold ​ year ​ securities held ​ 2020 Marketable equity securities ​ $ 1,885 ​ $ — ​ $ (619) ​ $ (1,266) ​ $ — ​ $ —

RECEIVABLES AND OTHER CURRENT_2

RECEIVABLES AND OTHER CURRENT ASSETS (Tables)	12 Months Ended
	Dec. 31, 2021
RECEIVABLES AND OTHER CURRENT ASSETS
Schedule of balances in receivables and other current assets	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 December 31, 2020 Government sales tax receivable ​ ​ 3,708 ​ $ 1,810 Prepaids and other assets ​ ​ 6,883 ​ ​ 3,880 Receivables and other current assets ​ $ 10,591 ​ $ 5,690

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Dec. 31, 2021
INVENTORIES
Schedule of inventories	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 December 31, 2020 Material on leach pads ​ $ 4,660 ​ $ 21,003 In-process inventory ​ 3,049 ​ 3,922 Stockpiles ​ 5,105 ​ 635 Precious metals ​ 1,819 ​ 1,344 Materials and supplies ​ 3,702 ​ 4,845 ​ ​ $ 18,335 ​ $ 31,749 Less long-term portion ​ ​ (2,543) ​ ​ (4,785) ​ ​ ​ 15,792 ​ ​ 26,964

MINERAL PROPERTY INTERESTS AN_2

MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2021
MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT
Schedule of property and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 December 31, 2020 Mineral property interests, cost ​ $ 344,529 ​ $ 314,719 Less: accumulated depletion ​ ​ (47,197) ​ ​ (34,601) Mineral property interests, carrying value ​ $ 297,332 ​ $ 280,118 ​ ​ ​ ​ ​ ​ ​ Plant and equipment, cost ​ ​ ​ ​ ​ ​ Land ​ $ 8,949 ​ $ 8,804 Construction in progress ​ ​ 4,078 ​ ​ 2,945 Plant and equipment ​ ​ 76,887 ​ ​ 72,188 Subtotal ​ $ 89,914 ​ $ 83,937 Less: accumulated depreciation ​ (44,942) ​ ​ (34,943) Plant and equipment, carrying value ​ $ 44,972 ​ $ 48,994 ​ ​ ​ ​ ​ ​ ​ Mineral property interests and plant and equipment, carrying value ​ $ 342,303 ​ $ 329,112
Summary of mineral property interests	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Name of Property/Complex State/Province Country 2021 2020 Fox Complex ​ Ontario ​ Canada ​ $ 37,678 ​ $ 17,580 ​ Lexam ​ Ontario ​ Canada ​ ​ 41,595 ​ ​ 41,595 ​ Los Azules Copper Project San Juan Argentina ​ ​ 191,490 ​ ​ 191,490 ​ Tonkin Properties Nevada United States ​ 4,833 ​ 4,833 ​ Gold Bar Project Nevada United States ​ 11,790 ​ 14,675 ​ Battle Mountain Complex Nevada United States ​ 785 ​ 785 ​ El Gallo Project Sinaloa Mexico ​ 3,353 ​ 3,353 ​ Fenix Project Properties Sinaloa Mexico ​ 5,807 ​ 5,807 ​ Total mineral property interests ​ ​ ​ ​ ​ $ 297,332 ​ $ 280,118 ​

INVESTMENT IN MINERA SANTA CR_2

INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE (Tables)	12 Months Ended
	Dec. 31, 2021
INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE
Summary of MSC's financial information from operations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ ​ ​ 2021 ​ 2020 ​ ​ 2019 Minera Santa Cruz S.A. ( 100% ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue from gold and silver sales ​ $ 271,863 ​ $ 219,020 ​ $ 263,887 ​ Production costs applicable to sales ​ ​ (196,033) ​ ​ (138,182) ​ ​ (159,915) ​ Depreciation and depletion ​ ​ (39,948) ​ ​ (29,809) ​ ​ (69,995) ​ Gross profit ​ ​ 35,882 ​ ​ 51,029 ​ ​ 33,977 ​ Exploration ​ ​ (10,602) ​ ​ (10,446) ​ ​ (10,635) ​ Other expenses (1) ​ ​ (17,077) ​ ​ (30,515) ​ ​ (13,065) ​ Net income before tax ​ $ 8,203 ​ $ 10,068 ​ $ 10,277 ​ Current and deferred tax expense ​ ​ (7,934) ​ ​ (4,466) ​ ​ (14,556) ​ Net income (loss) ​ $ 269 ​ $ 5,602 ​ $ (4,279) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Portion attributable to McEwen Mining Inc. ( 49% ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) ​ $ 132 ​ $ 2,745 ​ $ (2,097) ​ Amortization of fair value increments ​ (8,331) ​ (5,390) ​ (9,448) ​ Income tax recovery ​ ​ 666 ​ ​ 1,128 ​ ​ 2,791 ​ (Loss) income from investment in MSC, net of amortization ​ $ (7,533) ​ $ (1,517) ​ $ (8,754) ​ (1) Other expenses include foreign exchange, accretion of asset retirement obligations and other finance related expenses.
Schedule of change in the entity's investment in MSC	​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 December 31, 2020 Investment in MSC, beginning of period $ 108,326 ​ $ 110,183 Attributable net income from MSC ​ 132 ​ ​ 2,745 Amortization of fair value increments (8,331) ​ (5,390) Income tax recovery ​ 666 ​ ​ 1,128 Dividend distribution received (9,832) ​ (340) Investment in MSC, end of period $ 90,961 ​ $ 108,326
Summary of key assets and liabilities, before and after adjustments to fair value	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2021 ​ Balance excluding FV increments ​ Adjustments ​ Balance including FV increments Current assets ​ $ 89,876 ​ $ 469 ​ $ 90,345 Total assets ​ $ 180,302 ​ $ 89,975 ​ $ 270,277 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities ​ $ (51,244) ​ $ — ​ $ (51,244) Total liabilities ​ $ (82,075) ​ $ (2,577) ​ $ (84,652) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2020 ​ Balance excluding FV increments ​ Adjustments ​ Balance including FV increments Current assets ​ $ 94,965 ​ $ 362 ​ $ 95,327 Total assets ​ $ 186,438 ​ $ 107,821 ​ $ 294,259 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities ​ $ (40,396) ​ $ — ​ $ (40,396) Total liabilities ​ $ (69,255) ​ $ (3,936) ​ $ (73,191)

LEASE LIABILITIES (Tables)

LEASE LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2021
LEASE LIABILITIES
Schedule of lease liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total discounted lease liabilities ​ ​ December 31, 2021 ​ December 31, 2020 Finance leases ​ $ 3,833 ​ $ 4,735 Operating lease ​ ​ 583 ​ ​ 761 Lease liabilities ​ $ 4,416 ​ $ 5,496 Current portion ​ ​ (2,901) ​ ​ (2,440) Long-term portion ​ $ 1,515 ​ $ 3,056
Schedule of lease costs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ December 31, 2020 Finance leases: ​ ​ ​ ​ ​ ​ Amortization of ROU assets ​ $ 1,659 ​ $ 878 Interest expense ​ ​ 329 ​ ​ 392 Total ​ $ 1,988 ​ $ 1,270 ​ ​ ​ ​ ​ ​ ​ Operating lease: ​ ​ ​ ​ ​ ​ Rent expense ​ $ 135 ​ $ 194
Schedule of undiscounted lease payment obligations, operating lease	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Payments due by period ​ 2022 2023 2024 2025 2026 Total Operating lease obligation ​ $ 246 ​ $ 250 ​ $ 167 ​ $ — ​ $ — ​ $ 663 Finance lease obligations ​ 2,704 ​ 808 ​ 274 ​ — ​ — ​ 3,785 Total future minimum lease payments ​ $ 2,949 ​ $ 1,058 ​ $ 441 ​ $ — ​ $ — ​ $ 4,448 Less: Imputed interest ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (32) Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4,416
Schedule of undiscounted lease payment obligations, finance lease	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Payments due by period ​ 2022 2023 2024 2025 2026 Total Operating lease obligation ​ $ 246 ​ $ 250 ​ $ 167 ​ $ — ​ $ — ​ $ 663 Finance lease obligations ​ 2,704 ​ 808 ​ 274 ​ — ​ — ​ 3,785 Total future minimum lease payments ​ $ 2,949 ​ $ 1,058 ​ $ 441 ​ $ — ​ $ — ​ $ 4,448 Less: Imputed interest ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (32) Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4,416

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	12 Months Ended
	Dec. 31, 2021
LONG-TERM DEBT
Schedule of debt activity	​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2021 Year ended Balance, beginning of period ​ $ 48,160 ​ $ 49,516 Interest expense ​ 5,581 ​ 5,394 Interest payments ​ (4,875) ​ (4,875) Bonus Interest - Equity based financing fee ​ ​ — ​ ​ (1,875) Balance, end of period ​ $ 48,866 ​ $ 48,160

RECLAMATION AND REMEDIATION L_2

RECLAMATION AND REMEDIATION LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2021
RECLAMATION AND REMEDIATION LIABILITIES
Schedule of reconciliation of asset retirement obligations	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 December 31, 2020 Reclamation and remediation liability, beginning balance $ 34,000 ​ $ 32,201 ​ Settlements (2,225) ​ (267) ​ Accretion of liability 2,405 ​ 1,901 ​ Revisions to estimates and discount rate 1,257 ​ (54) ​ Foreign exchange revaluation ​ 15 ​ ​ 219 ​ Reclamation and remediation liability, ending balance $ 35,452 ​ $ 34,000 ​ Less current portion ​ 5,761 ​ ​ 3,232 ​ Long-term portion $ 29,691 ​ $ 30,768 ​
Schedule of reclamation expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2021 ​ 2020 ​ 2019 Reclamation adjustment reflecting updated estimates $ 1,045 ​ $ (113) ​ $ 1,851 Reclamation accretion ​ 2,405 ​ ​ 1,901 ​ ​ 1,680 Total $ 3,450 ​ ​ 1,788 ​ $ 3,531

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2021
Summary of information about stock options under the Plan	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ ​ ​ Average ​ Remaining ​ ​ ​ ​ ​ Number of ​ Exercise ​ Contractual ​ Intrinsic ​ ​ Shares ​ Price ​ Life (Years) ​ Value ​ ​ (in thousands, except per share and year data) Balance at December 31, 2018 4,243 ​ $ 2.33 2.0 ​ $ 1,475 ​ Granted 3,050 ​ ​ 1.73 ​ — ​ ​ — ​ Exercised (535) ​ ​ 1.01 ​ — ​ ​ 419 ​ Forfeited ​ (700) ​ ​ 2.56 ​ — ​ ​ — ​ Expired ​ (789) ​ ​ 2.90 ​ — ​ ​ — ​ Balance at December 31, 2019 5,269 ​ $ 2.00 3.0 ​ $ 364 ​ Granted 5,097 ​ ​ 1.22 ​ — ​ ​ — ​ Exercised (135) ​ ​ 1.02 ​ — ​ ​ 10 ​ Forfeited (1,968) ​ ​ 2.18 ​ — ​ ​ 2 ​ Expired (1,251) ​ ​ 1.19 ​ — ​ ​ — ​ Balance at December 31, 2020 7,012 ​ $ 1.55 4.2 ​ $ 53 ​ Granted 950 ​ ​ 1.22 ​ — ​ ​ — ​ Exercised — ​ ​ — ​ — ​ ​ 10 ​ Forfeited (1,589) ​ ​ 1.46 ​ — ​ ​ 2 ​ Expired ​ (202) ​ ​ 7.10 ​ — ​ ​ — ​ Balance at December 31, 2021 6,171 ​ $ 1.34 4.2 ​ $ 53 ​ Exercisable at December 31, 2021 2,265 ​ $ 1.47 2.6 ​ $ — ​
Schedule of weighted-average assumptions used for estimation of the fair value of the options granted under the Plan at the date of grant, using the Black-Scholes Option Valuation Model	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ 2019 Risk-free interest rate ​ ​ 0.519% to 0.873% ​ ​ 0.157% to 0.322% ​ ​ 1.45% to 1.87% Dividend yield ​ ​ 0.00% ​ ​ 0.00% ​ ​ 0.00% Volatility factor of the expected market price of common stock ​ ​ 63% ​ ​ 59% ​ ​ 58% Weighted-average expected life of option ​ ​ 3.5 years ​ ​ 3.5 years ​ ​ 3.5 years Weighted-average grant date fair value ​ $ 1.22 ​ $ 1.22 ​ $ 1.73
Summary of status and activity of non-vested stock options	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ Grant Date ​ ​ Number of ​ Fair Value ​ Shares Per Share ​ ​ (in thousands, except per share amounts) Non-vested, beginning of year ​ 6,093 ​ $ 0.44 Granted ​ 950 ​ $ 0.44 Cancelled/Forfeited ​ (1,339) ​ $ 0.46 Vested ​ (1,799) ​ $ 0.45 Non-vested, end of year ​ 3,906 ​ $ 0.43
November 2019 Offering
Schedule of Black-Scholes pricing model to determine the fair value of warrants	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ November 20, 2019 ​ Risk-free interest rate ​ ​ ​ ​ ​ 1.55 % Dividend yield ​ ​ ​ ​ ​ 0.00 % Volatility factor of the expected market price of common stock ​ ​ ​ ​ ​ 60 % Weighted-average expected life ​ ​ ​ ​ ​ 5 years ​ Weighted-average grant date fair value ​ ​ ​ ​ $ 0.52 ​

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2021
NET LOSS PER SHARE
Schedule of reconciliation of basic and diluted weighted average number of common shares and computations for basic and diluted net (loss) per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ ​ 2021 2020 2019 ​ ​ ​ ​ (amounts in thousands, unless otherwise noted) ​ Net loss ​ ​ $ (56,712) ​ $ (152,325) ​ $ (59,747) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding: ​ ​ ​ 454,899 ​ ​ 403,457 ​ ​ 361,845 ​ Diluted shares outstanding: ​ ​ ​ 454,899 ​ ​ 403,457 ​ ​ 361,845 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss per share - basic and diluted ​ ​ $ (0.12) ​ $ (0.38) ​ $ (0.17) ​

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2021
RELATED PARTY TRANSACTIONS
Schedule of related party expense and outstanding accounts payable	The Company incurred the following expense in respect to the related parties outlined below during the periods presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2021 2020 2019 Lexam L.P. $ 78 ​ $ 99 ​ $ 133 REVlaw ​ 347 ​ ​ 158 ​ ​ 188 ​ The Company has the following outstanding accounts payable balance in respect to the related parties outlined below: ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ December 31, 2020 Lexam L.P. $ — ​ $ 72 REVlaw ​ 137 ​ ​ 90 ​

FAIR VALUE ACCOUNTING (Tables)

FAIR VALUE ACCOUNTING (Tables)	12 Months Ended
	Dec. 31, 2021
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 December 31, 2021 Fair value as at December 31, 2020 ​ Level 1 Level 2 Total Level 1 Level 2 Total Marketable equity securities ​ $ 1,644 ​ $ — ​ $ 1,644 ​ $ — ​ $ — ​ $ — Total investments ​ $ 1,644 ​ $ — ​ $ 1,644 ​ $ — ​ $ — ​ $ —

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2021
COMMITMENTS AND CONTINGENCIES
Schedule of minimum commitments and related payments due	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Payments due by period ​ ​ 2022 ​ 2023 ​ 2024 ​ 2025 ​ Thereafter ​ Total Mining and surface rights ​ $ 492 ​ $ 488 ​ $ 470 ​ $ 443 ​ $ — $ 1,893 Exploration ​ ​ 8,116 ​ ​ 15,080 ​ ​ — ​ ​ — ​ ​ — ​ 23,196 Reclamation costs (1) ​ ​ 6,358 ​ ​ 5,873 ​ ​ 525 ​ ​ 1,186 ​ ​ 29,215 ​ 43,157 Long-term debt ​ ​ 4,875 ​ ​ 14,712 ​ ​ 32,710 ​ ​ 10,027 ​ ​ — ​ 62,324 Lease obligations ​ ​ 2,949 ​ ​ 1,058 ​ ​ 441 ​ ​ — ​ ​ — ​ 4,448 Total ​ $ 22,791 ​ $ 37,210 ​ $ 34,146 ​ $ 11,656 ​ $ 29,215 $ 135,018 (1) Amounts presented represent the undiscounted uninflated future payments.

CASH, CASH EQUIVALENTS AND RE_2

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Tables)	12 Months Ended
	Dec. 31, 2021
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
Schedule of reconciliation of cash and cash equivalents, and restricted cash	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ December 31, 2020 Cash and cash equivalents ​ $ 54,287 ​ $ 20,843 Restricted cash - current ​ ​ 2,550 ​ ​ - Restricted cash - non-current ​ ​ 3,797 ​ ​ 3,595 Total cash, cash equivalents, and restricted cash ​ $ 60,634 ​ $ 24,438

INCOME AND MINING TAXES (Tables

INCOME AND MINING TAXES (Tables)	12 Months Ended
	Dec. 31, 2021
INCOME AND MINING TAXES.
Schedule of deferred income tax recovery (expense)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 United States ​ $ 387 ​ $ 817 ​ $ 2,420 Foreign ​ ​ 6,928 ​ ​ 573 ​ ​ 1,424 Deferred tax benefit ​ $ 7,315 ​ $ 1,390 ​ $ 3,844
Schedule of net income (loss) before tax	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 ​ 2019 United States ​ $ (24,808) ​ $ (127,524) ​ $ (22,319) Foreign ​ ​ (39,391) ​ ​ (26,191) ​ ​ (41,272) Loss before income and mining taxes ​ $ (64,199) ​ $ (153,715) ​ $ (63,591)
Schedule of reconciliation of tax provision at statutory U.S. Federal and State income tax rates to actual tax provision recorded in financial statements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Expected tax recovery at 2021 2020 2019 Loss before income and mining taxes ​ $ (64,199) ​ $ (153,715) ​ $ (63,591) Statutory tax rate ​ ​ 21% ​ ​ 21% ​ ​ 21% US Federal and State tax expense at statutory rate ​ ​ (13,482) ​ ​ (32,280) ​ ​ (13,354) Reconciling items: ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity pickup in MSC ​ 1,326 ​ 374 ​ 2,626 Deferred foreign income inclusion ​ — ​ 795 ​ 598 Realized flow-through expenditures ​ ​ 6,148 ​ ​ 496 ​ ​ 3,150 Realized flow-through premium ​ ​ (3,486) ​ ​ (338) ​ ​ (2,954) Adjustment for foreign tax rates ​ (3,039) ​ (2,043) ​ (200) Other permanent differences ​ 9,353 ​ (2,546) ​ 8,421 NOL expires and revisions ​ 241 ​ 1,066 ​ 810 Valuation allowance ​ (4,377) ​ 33,086 ​ (2,941) Income and mining tax recovery ​ $ (7,315) ​ $ (1,390) ​ $ (3,844)
Schedule of tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Deferred tax assets: ​ ​ ​ ​ ​ ​ ​ Net operating loss carryforward ​ $ 70,830 ​ $ 66,085 ​ Mineral Properties ​ 59,426 ​ 66,038 ​ Other temporary differences ​ 29,009 ​ 30,999 ​ Total gross deferred tax assets ​ 159,265 ​ 163,122 ​ Less: valuation allowance ​ (149,921) ​ (154,298) ​ Net deferred tax assets ​ $ 9,344 ​ $ 8,824 ​ Deferred tax liabilities: ​ ​ ​ ​ ​ ​ ​ Acquired mineral property interests ​ ​ (9,344) ​ ​ (12,637) ​ Total deferred tax liabilities ​ $ (9,344) ​ $ (12,637) ​ Deferred income and mining tax liability ​ $ — ​ $ (3,813) ​
Summary of changes in valuation allowance	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, Balance at beginning of year Additions(a) Deductions(b) Balance at end of year 2021 ​ $ 154,298 ​ $ 4,058 ​ $ (8,435) ​ $ 149,921 2020 ​ ​ 121,212 ​ ​ 39,794 ​ ​ (6,708) ​ ​ 154,298 2019 ​ ​ 124,153 ​ ​ 2,104 ​ ​ (5,045) ​ ​ 121,212 (a) The additions to valuation allowance mainly result from the Company and its subsidiaries incurring losses and exploration expenses for tax purposes which do not meet the more-likely-than-not criterion for recognition of deferred tax assets. (b) The reductions to valuation allowance mainly result from release of valuation allowance, expiration of the Company’s tax attributes, foreign exchange reductions of tax attributes in Canada, Mexico and Argentina and inflationary adjustments to tax attributes in Argentina.
Summary of losses that can be applied against future taxable profit	​ ​ ​ ​ ​ ​ ​ ​ ​ Country Type of Loss Amount Expiry Period United States (a) ​ Net-operating losses ​ $ 190,271 ​ 2027-Unlimited Mexico ​ Net-operating losses ​ ​ 45,641 ​ 2022-2030 Canada (a) ​ Net-operating losses ​ ​ 30,720 ​ 2025-2040 Argentina (a) ​ Net-operating losses ​ ​ 26,367 ​ 2021-2025 (a) The losses in the United States, Canada, and Argentina are part of multiple consolidating groups, and therefore, may be restricted in use to specific projects.

UNAUDITED SUPPLEMENTARY QUART_2

UNAUDITED SUPPLEMENTARY QUARTERLY INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2021
UNAUDITED SUPPLEMENTARY QUARTERLY INFORMATION
Summary of unaudited supplementary quarterly information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ March 31, 2021 June 30, 2021 September 30, 2021 December 31, 2021 ​ ​ (unaudited) (in thousands, except per share) Revenue from gold and silver sales ​ $ 23,740 ​ $ 40,706 ​ $ 37,129 ​ $ 34,966 Gross (loss) ​ ​ (4,986) ​ ​ 4,059 ​ ​ 344 ​ ​ (5,897) Net loss attributable to McEwen shareholders ​ ​ (12,466) ​ ​ (5,989) ​ ​ (17,401) ​ ​ (21,028) Net loss per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted ​ $ (0.03) ​ $ (0.01) ​ $ (0.04) ​ $ (0.05) Weighted average shares outstanding: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted ​ ​ 441,794 ​ ​ 459,187 ​ ​ 459,187 ​ ​ 454,899 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ March 31, 2020 June 30, 2020 September 30, 2020 December 31, 2020 ​ ​ (unaudited) (in thousands, except per share) Revenue from gold and silver sales ​ $ 31,400 ​ $ 18,291 ​ $ 27,395 ​ $ 27,703 ​ Gross profit ​ ​ (3,685) ​ ​ (8,875) ​ ​ (701) ​ ​ (13,687) ​ Net loss attributable to McEwen shareholders ​ ​ (99,191) ​ ​ (19,814) ​ ​ (9,778) ​ ​ (23,542) ​ Net loss per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted ​ $ (0.25) ​ $ (0.05) ​ $ (0.02) ​ $ (0.06) ​ Weighted average shares outstanding: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted ​ 400,370 ​ ​ 400,513 ​ ​ 403,887 ​ 408,959 ​

NATURE OF OPERATIONS (Details)

NATURE OF OPERATIONS (Details)	12 Months Ended
	Dec. 31, 2021
Nature of operations and recent accounting pronouncements
Ownership interests in various mines (as a percent)	100.00%
Ownership interest (as a percent)	49.00%
Minera Andes Inc.
Nature of operations and recent accounting pronouncements
Ownership interest (as a percent)	100.00%
Minera Santa Cruz S.A. [Member] | Equity Method Investment
Nature of operations and recent accounting pronouncements
Ownership interest (as a percent)	49.00%
Los Azules Copper Project | Equity Method Investment
Nature of operations and recent accounting pronouncements
Ownership interest (as a percent)	81.40%

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Risks and Uncertainties (Details) - USD ($) $ in Millions	Feb. 09, 2021	Jan. 29, 2021	Sep. 10, 2020	Dec. 31, 2021
Duration current portion of inventories expected to be processed or recovered				12 months
Duration over which drilling and related costs are capitalized				1 year
Equity Financing In February 2021
Gross proceeds	$ 31.5
Canadian Development Expenses | Equity Financing In February 2021
Gross proceeds				$ 31.5
Canadian Development Expenses | Flow Through Common Shares
Gross proceeds		$ 12.7		12.7
Canadian Development Expenses | Flow Through Common Shares | Los Azules Copper Project
Gross proceeds				$ 40
Canadian Exploration Expenditures | Flow Through Common Shares
Gross proceeds			$ 10.4

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Products, Properties and Production of Minerals (Details)	12 Months Ended
	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES.
Option to sell prior to the completion of refining (as a percent)	90.00%
Minimum [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES.
Period over which concentrates are provisionally priced at the end of a period after delivery to the customer	30 days
Maximum [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES.
Period over which concentrates are provisionally priced at the end of a period after delivery to the customer	90 days

OPERATING SEGMENT REPORTING - S

OPERATING SEGMENT REPORTING - Summary of Reportable Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Segment Reporting
Revenue from gold and silver sales									$ 136,541	$ 104,789	$ 117,019
Depreciation and depletion									(23,798)	(22,910)	(24,753)
Gross profit (loss)	$ (5,897)	$ 344	$ 4,059	$ (4,986)	$ (13,687)	$ (701)	$ (8,875)	$ (3,685)	(6,480)	(26,948)	8,986
Advanced projects									(12,439)	(11,681)	(9,520)
Impairment loss on mineral property interests and plant and equipment (Note 8)									0	(83,805)
Loss from investment in Minera Santa Cruz S.A.									(7,533)	(1,517)	(8,754)
Other operating										(1,968)
Loss before income and mining taxes									(64,199)	(153,715)	(63,591)
Capital expenditures									36,033	13,925	30,270
United States Reportable Segment [Member]
Operating Segment Reporting
Depreciation and depletion									(8,502)	(11,785)	(10,934)
Gross profit (loss)									(3,288)	(21,366)	(701)
Advanced projects									(440)	(1,071)	(649)
Impairment loss on mineral property interests and plant and equipment (Note 8)										(83,805)
Other operating										(1,390)
Segment loss									(9,603)	(114,409)	(9,904)
Capital expenditures									2,416	4,821	18,806
Canada
Operating Segment Reporting
Depreciation and depletion									(15,296)	(10,883)	(13,271)
Gross profit (loss)									2,447	(4,070)	5,666
Advanced projects									(2,635)	(6,088)	(1,636)
Other operating										(578)
Segment loss									(15,205)	(17,186)	(21,749)
Capital expenditures									33,617	9,104	11,464
Mexico Reportable Segment [Member]
Operating Segment Reporting
Depreciation and depletion										(242)	(548)
Gross profit (loss)									(5,640)	(1,512)	4,021
Advanced projects									(4,345)	(4,522)	(7,235)
Segment loss									(9,999)	(6,547)	(3,214)
MSC
Operating Segment Reporting
Loss from investment in Minera Santa Cruz S.A.									(7,533)	(1,517)	(8,754)
Segment loss									(7,533)	(1,517)	(8,754)
Los Azules
Operating Segment Reporting
Advanced projects									(5,019)
Segment loss									(6,717)	(2,121)	(3,411)
Total Segment
Operating Segment Reporting
Depreciation and depletion									(23,798)	(22,910)	(24,753)
Gross profit (loss)									(6,481)	(26,948)	8,986
Advanced projects									(12,439)	(11,681)	(9,520)
Impairment loss on mineral property interests and plant and equipment (Note 8)										(83,805)
Loss from investment in Minera Santa Cruz S.A.									(7,533)	(1,517)	(8,754)
Other operating										(1,968)
Segment loss									(49,056)	(141,780)	(47,032)
General and Administrative and other									(15,143)	(11,935)	(16,559)
Gold and silver sales
Operating Segment Reporting
Revenue from gold and silver sales	$ 34,966	$ 37,129	$ 40,706	$ 23,740	$ 27,703	$ 27,395	$ 18,291	$ 31,400	136,541	104,789	117,019
Gold and silver sales | United States Reportable Segment [Member]
Operating Segment Reporting
Revenue from gold and silver sales									79,205	48,884	43,847
Gold and silver sales | Canada
Operating Segment Reporting
Revenue from gold and silver sales									50,704	41,452	50,058
Gold and silver sales | Mexico Reportable Segment [Member]
Operating Segment Reporting
Revenue from gold and silver sales									6,632	14,453	23,114
Gold and silver sales | Total Segment
Operating Segment Reporting
Revenue from gold and silver sales									136,541	104,789	117,019
Product [Member]
Operating Segment Reporting
Production costs applicable to sales									(119,223)	(108,827)	(83,280)
Product [Member] | United States Reportable Segment [Member]
Operating Segment Reporting
Production costs applicable to sales									(73,991)	(58,465)	(33,614)
Product [Member] | Canada
Operating Segment Reporting
Production costs applicable to sales									(32,961)	(34,639)	(31,121)
Product [Member] | Mexico Reportable Segment [Member]
Operating Segment Reporting
Production costs applicable to sales									(12,272)	(15,723)	(18,545)
Product [Member] | Total Segment
Operating Segment Reporting
Production costs applicable to sales									(119,224)	(108,827)	(83,280)
Exploration | United States Reportable Segment [Member]
Operating Segment Reporting
Production costs applicable to sales									(5,875)	(6,777)	(8,554)
Exploration | Canada
Operating Segment Reporting
Production costs applicable to sales									(15,017)	(6,450)	(25,779)
Exploration | Mexico Reportable Segment [Member]
Operating Segment Reporting
Production costs applicable to sales									(14)	(513)
Exploration | Los Azules
Operating Segment Reporting
Production costs applicable to sales									(1,698)	(2,121)	(3,411)
Exploration | Total Segment
Operating Segment Reporting
Production costs applicable to sales									$ (22,604)	$ (15,861)	$ (37,744)

OPERATING SEGMENT REPORTING - G

OPERATING SEGMENT REPORTING - Geographic information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 30, 2021	Dec. 31, 2020	Dec. 30, 2020	Dec. 31, 2019	Dec. 30, 2019
Operating Segment Reporting
Long-lived Assets	$ 440,316		$ 445,624
Revenue	136,541		104,789		$ 117,019
Investment in MSC	90,961		108,326
Total which excludes Company's ROU office lease asset	400		600
Minera Santa Cruz S.A. [Member]
Operating Segment Reporting
Investment in MSC	90,961		108,326		110,183
Bank of Nova Scotia
Operating Segment Reporting
Revenue		$ 134,700
Bank of Nova Scotia | Customer
Operating Segment Reporting
Revenue			$ 33,000	$ 67,000	$ 103,600	$ 4,900
Bank of Nova Scotia | Customer | Revenue Benchmark
Operating Segment Reporting
Gold and silver sales, percentage		98.80%	32.00%	64.00%	89.00%	4.00%
UNITED STATES
Operating Segment Reporting
Long-lived Assets	37,878		$ 46,801
Revenue	79,205		48,884		$ 43,847
Canada
Operating Segment Reporting
Long-lived Assets	93,294		78,986
Revenue	50,704		41,452		50,058
MEXICO
Operating Segment Reporting
Long-lived Assets	26,561		20,021
Revenue	6,632		14,453		$ 23,114
ARGENTINA
Operating Segment Reporting
Long-lived Assets	282,583		299,816
ARGENTINA | Minera Santa Cruz S.A. [Member]
Operating Segment Reporting
Investment in MSC	$ 90,900		$ 108,300

OTHER INCOME - Summary of Other

OTHER INCOME - Summary of Other Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
OTHER INCOME
COVID-19 relief	$ 3,541	$ 6,420
Unrealized and realized gain (loss) on investments (Note 5)	28	(619)	$ 5,259
Foreign currency gain	513	1,078	1,697
Other income, net	2,199	14	184
Total other income	$ 6,281	$ 6,893	$ 7,140

INVESTMENTS - Activity in Inves

INVESTMENTS - Activity in Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Investments rollforward
Additions/transfers during the period	$ 1,777
Unrealized gain (loss) on securities held	28
Fair Value end of the period	1,806
Marketable equity securities
Investments rollforward
Opening balance		$ 1,885
Additions/transfers during the period	1,616
Net gain (loss) on securities sold		(619)
Disposals/transfers during period		$ (1,266)
Unrealized gain (loss) on securities held	28
Fair Value end of the period	1,644
Warrants
Investments rollforward
Additions/transfers during the period	162
Fair Value end of the period	$ 162

INVESTMENTS (Details)

INVESTMENTS (Details) $ / shares in Units, $ in Thousands	Jun. 23, 2021USD ($)project$ / sharesshares	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Investments
Number of common shares | shares	4,963,455
Warrants received | shares	2,481,727
Proceeds from sale of investments		$ 1,266	$ 6,769
Disposal Group | Projects in Nevada
Investments
Cash consideration received	$ 500
Percentage of common shares received	10.00%
Price per common share for each warrant | $ / shares	$ 0.60
Disposal Group | Projects in Nevada, Limousine Butte and Cedar Wash
Investments
Number of projects sold | project	2
Marketable equity securities
Investments
Proceeds from sale of investments		$ 1,300	$ 6,800

RECEIVABLES AND OTHER CURRENT_3

RECEIVABLES AND OTHER CURRENT ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Receivables, prepaids and other assets
Government sales tax receivable	$ 3,708	$ 1,810
Prepaids and other assets	6,883	3,880
Receivables and other current assets	10,591	5,690
Black Fox Complex
Receivables, prepaids and other assets
Government sales tax receivable	$ 2,200	$ 400

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Inventories
Material on leach pads	$ 4,660	$ 21,003
In-process inventory	3,049	3,922
Stockpiles	5,105	635
Precious metals	1,819	1,344
Materials and supplies	3,702	4,845
Inventories	18,335	31,749
Less long-term portion	(2,543)	(4,785)
Inventories	15,792	26,964
Inventory write-down		13,900
Cost Of Sales [Member]
Inventories
Inventory write-down	6,000
Depreciation and depletion
Inventories
Inventory write-down	800	$ 2,100
Black Fox Complex
Inventories
Inventory write-down	2,100
Gold Bar mine
Inventories
Inventory write-down	1,400
El Gallo Project
Inventories
Inventory write-down	$ 3,300

MINERAL PROPERTY INTERESTS AN_3

MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT - Cost and Carrying Value (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Mineral property interests and plant and equipment
Total mineral property interests and plant and equipment, carrying value	$ 342,303	$ 329,112
Mineral property interests
Mineral property interests and plant and equipment
Mineral property interests and plant and equipment, gross	344,529	314,719
Less: accumulated depreciation	(47,197)	(34,601)
Mineral property interests and plant and equipment, carrying value	297,332	280,118
Land [Member]
Mineral property interests and plant and equipment
Mineral property interests and plant and equipment, gross	8,949	8,804
Construction in Progress [Member]
Mineral property interests and plant and equipment
Mineral property interests and plant and equipment, gross	4,078	2,945
Plant and equipment
Mineral property interests and plant and equipment
Mineral property interests and plant and equipment, gross	76,887	72,188
Land, construction in progress and plant and equipment in aggregate
Mineral property interests and plant and equipment
Mineral property interests and plant and equipment, gross	89,914	83,937
Less: accumulated depreciation	(44,942)	(34,943)
Mineral property interests and plant and equipment, carrying value	$ 44,972	$ 48,994

MINERAL PROPERTY INTERESTS AN_4

MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT - Construction in Progress (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT
Impairment charges	$ 0	$ 83,805

MINERAL PROPERTY INTERESTS AN_5

MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT- Mineral Properties (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Mineral Property Interests
Mineral property interests	$ 297,332	$ 280,118
Black Fox Complex
Mineral Property Interests
Mineral property interests	37,678	17,580
Lexam Vg Gold
Mineral Property Interests
Mineral property interests	41,595	41,595
Los Azules Copper Project
Mineral Property Interests
Mineral property interests	191,490	191,490
Tonkin Properties
Mineral Property Interests
Mineral property interests	4,833	4,833
Gold Bar mine
Mineral Property Interests
Mineral property interests	11,790	14,675
Battle Mountain Complex
Mineral Property Interests
Mineral property interests	785	785
El Gallo Project
Mineral Property Interests
Mineral property interests	3,353	3,353
Fenix Project Properties
Mineral Property Interests
Mineral property interests	$ 5,807	$ 5,807

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
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE
Revenue from gold and silver sales									$ 136,541	$ 104,789	$ 117,019
Depreciation and depletion									(23,798)	(22,910)	(24,753)
Gross Profit	$ (5,897)	$ 344	$ 4,059	$ (4,986)	$ (13,687)	$ (701)	$ (8,875)	$ (3,685)	(6,480)	(26,948)	8,986
Other expenses										(1,968)
Net income before tax									(64,199)	(153,715)	(63,591)
Net income (loss)					$ (23,542)	$ (9,778)	$ (19,814)	$ (99,191)	(56,712)	(152,325)	(59,747)
Income tax recovery									7,315	1,390	3,844
Loss from investment in MSC, net of amortization									$ (7,533)	(1,517)	(8,754)
Subsidiary (as a percent)									100.00%
Ownership interest (as a percent)	49.00%								49.00%
Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE
Net income (loss)									$ 132	2,745	(2,097)
Amortization of fair value increments									(8,331)	(5,390)	(9,448)
Income tax recovery									666	1,128	2,791
Loss from investment in MSC, net of amortization									(7,533)	(1,517)	(8,754)
Minera Santa Cruz S.A. [Member]
INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE
Net income (loss)									132	2,745
Amortization of fair value increments									8,331	5,390
Income tax recovery									(666)	(1,128)
Shutdown costs									19,300	11,400
Minera Santa Cruz S.A. [Member] | Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE
Revenue from gold and silver sales									271,863	219,020	263,887
Production costs applicable to sales									(196,033)	(138,182)	(159,915)
Depreciation and depletion									(39,948)	(29,809)	(69,995)
Gross Profit									35,882	51,029	33,977
Exploration									(10,602)	(10,446)	(10,635)
Other expenses (1)									(17,077)	(30,515)	(13,065)
Net income before tax									8,203	10,068	10,277
Current and deferred tax expense									(7,934)	(4,466)	(14,556)
Net income (loss)									$ 269	$ 5,602	$ (4,279)
Ownership interest (as a percent)	49.00%								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	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Change in the investment in MSC
Investment in MSC, beginning of period	$ 108,326
Income tax recovery	7,315	$ 1,390	$ 3,844
Dividend distribution received	(9,832)	(340)	(8,877)
Investment in MSC, end of period	90,961	108,326
Minera Santa Cruz S.A. [Member]
Change in the investment in MSC
Investment in MSC, beginning of period	108,326	110,183
Attributable net income from MSC	132	2,745
Amortization of fair value increments	8,331	5,390
Income tax recovery	(666)	(1,128)
Dividend distribution received	(9,832)	(340)
Investment in MSC, end of period	$ 90,961	$ 108,326	$ 110,183

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	Dec. 31, 2021	Dec. 31, 2020
INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE
Current assets	$ 85,026	$ 53,497
Total assets	525,341	499,936
Current liabilities	(52,399)	(45,554)
Total liabilities	(135,400)	(134,608)
Balance excluding FV increments | Minera Santa Cruz S.A. [Member]
INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE
Current assets	89,876	94,965
Total assets	180,302	186,438
Current liabilities	(51,244)	(40,396)
Total liabilities	(82,075)	(69,255)
Adjustments | Minera Santa Cruz S.A. [Member]
INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE
Current assets	469	362
Total assets	89,975	107,821
Total liabilities	(2,577)	(3,936)
Balance including FV increments | Minera Santa Cruz S.A. [Member]
INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE
Current assets	90,345	95,327
Total assets	270,277	294,259
Current liabilities	(51,244)	(40,396)
Total liabilities	$ (84,652)	$ (73,191)

LEASE LIABILITIES (Details)

LEASE LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
LEASE LIABILITIES
Finance leases	$ 3,833	$ 4,735
Finance Lease, Liability, Statement of Financial Position [Extensible List]	Less current portion, Long-term portion	Less current portion, Long-term portion
Operating lease	$ 583	$ 761
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Less current portion, Long-term portion	Less current portion, Long-term portion
Lease liabilities	$ 4,416	$ 5,496
Less current portion	(2,901)	(2,440)
Long-term portion	$ 1,515	$ 3,056

LEASE LIABILITIES - Weighted Av

LEASE LIABILITIES - Weighted Average Discount Rate and Lease Terms (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
LEASE LIABILITIES
Operating lease, Weighted average discount rate (as a percent)	6.67%
Finance leases, Weighted average discount rate (as a percent)	8.73%
Operating lease, Weighted average remaining lease term	1 year
Finance leases, Weighted average remaining lease term	3 years
Interest and other finance costs related to leases	$ 2	$ 1.3

LEASE LIABILITIES - Lease Cost

LEASE LIABILITIES - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Lease cost
Amortization of ROU assets	$ 1,659	$ 878
Interest expense	329	392
Total	1,988	1,270
Rental expense	$ 135	$ 194

LEASE LIABILITIES - Maturity (D

LEASE LIABILITIES - Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Operating lease obligations
2022	$ 246
2023	250
2024	167
Total	663
Operating Lease, Liability	583	$ 761
Finance lease obligations
2021	2,704
2022	808
2023	274
Total	3,785
Finance Lease, Liability	3,833	4,735
Lease obligations
2022	2,949
2023	1,058
2024	441
Total	4,448
Less: Imputed interest	(32)
Total	$ 4,416	$ 5,496

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details) - USD ($)	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 25, 2020	May 23, 2019	Aug. 10, 2018	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2019
LONG-TERM DEBT
Shares issued as bonus interest					1,935,484
Stock issued during the period					$ 2,600,000				$ 1,851,000
Term Loan
LONG-TERM DEBT
Working capital covenant							$ 10,000,000
Term Loan | Chairman and Chief Executive Officer [Member]
LONG-TERM DEBT
Face amount						$ 50,000,000
Term of debt instrument						3 years
Stated interest rate (as a percent)						9.75%
Amended loan agreement
LONG-TERM DEBT
Face amount				$ 50,000,000
Extension term for repayment of debt				2 years
Term loan retirement period				12 months
Principal repayments				$ 2,000,000
Final payment				$ 26,000,000
Working capital covenant	$ 10,000,000	$ 7,000,000	$ 5,000,000					$ 2,500,000
Shares issued as bonus interest				2,091,700
Stock issued during the period				$ 1,875,000

LONG-TERM DEBT - Rollforward (D

LONG-TERM DEBT - Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Long-term debt
Balance, beginning of year	$ 48,160	$ 49,516
Interest expense	5,581	5,394
Interest payments	(4,875)	(4,875)
Bonus Interest - Equity based financing fee		(1,875)
Balance, end of year	$ 48,866	$ 48,160

RECLAMATION AND REMEDIATION L_3

RECLAMATION AND REMEDIATION LIABILITIES - Retirement obligation rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Changes in the reclamation and remediation liability
Reclamation and remediation liability, beginning balance	$ 34,000	$ 32,201
Settlements	(2,225)	(267)
Accretion of liability	2,405	1,901
Adjustment reflecting updated estimates	1,257	(54)
Foreign exchange revaluation	15	219
Reclamation and remediation liability, ending balance	35,452	34,000
Less current portion	5,761	3,232
Long-term portion	$ 29,691	$ 30,768

RECLAMATION AND REMEDIATION L_4

RECLAMATION AND REMEDIATION LIABILITIES - Reclamation and Accretion (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reclamation obligations
Reclamation adjustment reflecting updated estimates	$ 1,045	$ (113)	$ 1,851
Reclamation accretion	2,405	1,901	1,680
Total	3,450	1,788	$ 3,531
Projects in Nevada
Reclamation obligations
Reclamation adjustment reflecting updated estimates	500	$ 100
Black Fox Complex
Reclamation obligations
Reclamation adjustment reflecting updated estimates	600
Tonkin Properties
Reclamation obligations
Reclamation adjustment reflecting updated estimates	$ 100

SHAREHOLDERS' EQUITY (Details)

SHAREHOLDERS' EQUITY (Details) - USD ($)	Feb. 09, 2021	Jan. 29, 2021	Dec. 31, 2020	Sep. 10, 2020	Jun. 25, 2020	Nov. 20, 2019	May 23, 2019	Mar. 29, 2019	Nov. 08, 2018	Mar. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2021	Jun. 29, 2021	Dec. 31, 2018
Common stock, shares authorized														675,000,000	500,000,000
Number of units issued							1,935,484
Net proceeds							$ 2,600,000						$ 1,851,000
Issuance costs							$ 400,000
Sale of common stock for cash, net of issuance costs											$ 29,875,000		$ 69,467,000
Weighted average exercise price of stock options (in dollars per share)												$ 1.02	$ 1.01
Outstanding options (in shares)			7,012,334								6,171,167	7,012,334	5,269,000			4,243,000
Stock options exercised (in shares)												135,000	535,000
Stock options issued (in shares)											950,000	5,097,000	3,050,000
Acquisition of Mineral Property Interests
Shares issued in connection with acquisitions (in shares)												53,600	353,570
Shares issued in connection with acquisitions												$ 100,000
November 2019 Offering
Number of units issued						37,750,000
Price per unit						$ 1.325
Net proceeds						$ 46,600,000
Warrant expiration term						5 years
Issuance costs						$ 3,500,000
Outstanding warrants											$ 21,706,250
June 2020 Amended and Restated Credit Agreement
Number of units issued					2,091,700
Net proceeds					$ 1,900,000
March 2019 Offering
Number of units issued								14,193,548
Price per unit								$ 1.55
Net proceeds								$ 20,300,000
Number of shares of common stock								1
Number of warrants received for each share of common stock share sold								0.50
Issuance costs								$ 1,700,000
Equity Incentive Plan
Weighted average exercise price of stock options (in dollars per share)												$ 1.02
Stock options exercised (in shares)											0
Stock options issued (in shares)											0	135,000
Officers Directors And Certain Employees
Stock options granted											$ 950,000
Weighted average exercise price of stock options (in dollars per share)											$ 1.22
Equity Financing In February 2021
Number of units issued	30,000,000
Price per unit	$ 1.05
Gross proceeds	$ 31,500,000
Net proceeds	29,900,000
Issuance costs	$ 1,700,000
Equity Financing In February 2021 | Canadian Development Expenses
Gross proceeds											$ 31,500,000
Subscription Receipts | Officers Directors And Certain Employees
Number of units issued								1,935,484
Price per unit								$ 1.55
Common Stock [Member]
Number of units issued													1,010,000
Net proceeds													$ 1,851,000
Shares issued for acquisition of mineral property interests (in shares)												53,000	354,000
Stock options exercised (in shares)												135,000	535,000
Common Stock [Member] | November 2019 Offering
Net proceeds						37,300,000
Warrant | November 2019 Offering
Net proceeds						$ 9,300,000
Number of shares of common stock						1
Number of warrants received for each share of common stock share sold						0.50
Warrant | March 2019 Offering
Warrant expiration term								3 years
Price per common share for each warrant								$ 2
Warrant at Second Stock Price | November 2019 Offering
Number of shares of common stock						1
Price per common share for each warrant						$ 1.7225
Flow Through Common Shares | Canadian Development Expenses
Number of units issued		12,600,600
Price per unit		$ 1.01
Gross proceeds		$ 12,700,000									12,700,000
Net proceeds		12,000,000
Issuance costs		700,000
Net proceeds allocated to the sale of tax benefits		1,200,000
Sale of common stock for cash, net of issuance costs		$ 10,800,000
Exploration expenditures											12,700,000
Flow Through Common Shares | Canadian Exploration Expenditures
Number of units issued			7,669,900	6,298,166
Price per unit			$ 1.28	$ 1.65								$ 1.28
Gross proceeds				$ 10,400,000
Net proceeds			$ 9,800,000	9,800,000
Issuance costs			0	600,000
Net proceeds allocated to the sale of tax benefits			2,100,000	2,000,000
Sale of common stock for cash, net of issuance costs			$ 7,700,000	$ 7,800,000
Exploration expenditures											$ 12,700,000
At-the-market ("ATM")
Number of units issued										1,010,545
Sale of common stock for cash, net of issuance costs										$ 1,900,000
Aggregate offering price									$ 90,000,000

SHAREHOLDERS' EQUITY - Black-Sc

SHAREHOLDERS' EQUITY - Black-Scholes pricing model (Details) - $ / shares	Nov. 20, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Principal assumptions used in applying the Black-Scholes option pricing model for the awards
Volatility factor of the expected market price of common stock (as a percent)			59.00%
Weighted-average expected life of option		3 years 6 months	3 years 6 months	3 years 6 months
Weighted-average grant date fair value (in dollars per share)		$ 1.22	$ 1.22	$ 1.73
November 2019 Offering | Warrant
Principal assumptions used in applying the Black-Scholes option pricing model for the awards
Risk-free interest rate (as a percent)	1.55%
Dividend yield (as a percent)	0.00%
Volatility factor of the expected market price of common stock (as a percent)	60.00%
Weighted-average expected life of option	5 years
Weighted-average grant date fair value (in dollars per share)	$ 0.52

SHAREHOLDERS' EQUITY - Stock Op

SHAREHOLDERS' EQUITY - Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
STOCK BASED COMPENSATION
Stock options granted (in shares)	950,000	5,097,000	3,050,000
Exercise price of options granted (in dollars per share)	$ 1.22	$ 1.22	$ 1.73
Exercisable period of options	2 years 7 months 6 days
Shares
Balance at the beginning of the period (in shares)	7,012,334	5,269,000	4,243,000
Granted (in shares)	950,000	5,097,000	3,050,000
Shares of common stock issued upon exercise of stock options		135,000	535,000
Forfeited (in shares)	(1,589,000)	(1,968,000)	(700,000)
Expired (in shares)	(202,000)	(1,251,000)	(789,000)
Balance at the end of the period (in shares)	6,171,167	7,012,334	5,269,000	4,243,000
Exercisable at the end of the period (in shares)	2,265,000
Weighted Average Exercise Price
Balance at the beginning of the period (in dollars per share)	$ 1.55	$ 2	$ 2.33
Granted (in dollars per share)	1.22	1.22	1.73
Weighted average exercise price of stock options (in dollars per share)		$ 1.02	$ 1.01
Proceeds from exercise of stock options		$ 138	$ 544
Forfeited (in dollars per share)	1.46	$ 2.18	$ 2.56
Expired (in dollars per share)	7.10	1.19	2.90
Balance at the end of the period (in dollars per share)	1.34	$ 1.55	$ 2	$ 2.33
Exercisable (in dollars per share)	$ 1.47
Weighted Average Remaining Contractual Life
Outstanding at the end of the period	4 years 2 months 12 days	4 years 2 months 12 days	3 years	2 years
Exercisable period of options	2 years 7 months 6 days
Intrinsic Value
Outstanding at the beginning of the period (in dollars)	$ 53	$ 364	$ 1,475
Exercised (in dollars)	10	10	419
Forfeited (in dollars)	2	2
Outstanding at the end of the period (in dollars)	$ 53	$ 53	$ 364	$ 1,475
Granted (in shares)	950,000	5,097,000	3,050,000
Equity Incentive Plan
STOCK BASED COMPENSATION
Stock options granted (in shares)	0	135,000
Number of common stock reserved for issuance	17,500,000
Maximum number of shares that may be subject to grants of options to an individual in a calendar year	1,000,000
Shares
Granted (in shares)	0	135,000
Shares of common stock issued upon exercise of stock options	0
Weighted Average Exercise Price
Weighted average exercise price of stock options (in dollars per share)		$ 1.02
Proceeds from exercise of stock options		$ 100
Intrinsic Value
Granted (in shares)	0	135,000
Employees and Directors [Member]
STOCK BASED COMPENSATION
Stock options granted (in shares)	1,000,000	5,100,000	3,100,000
Exercise price of options granted (in dollars per share)	$ 1.22	$ 1.22	$ 1.73
Shares
Granted (in shares)	1,000,000	5,100,000	3,100,000
Weighted Average Exercise Price
Granted (in dollars per share)	$ 1.22	$ 1.22	$ 1.73
Intrinsic Value
Granted (in shares)	1,000,000	5,100,000	3,100,000
Vesting period of options	3 years
Exercise period of options	5 years
Common Stock [Member]
Shares
Shares of common stock issued upon exercise of stock options		135,000	535,000

SHAREHOLDERS' EQUITY - Summary

SHAREHOLDERS' EQUITY - Summary of Assumptions (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Principal assumptions used in applying the Black-Scholes option pricing model for the awards
Weighted-average expected life of option	3 years 6 months	3 years 6 months	3 years 6 months
Weighted-average grant date fair value (in dollars per share)	$ 1.22	$ 1.22	$ 1.73
Risk-free interest rate, low end of range (as a percent)	0.519%	0.157%	1.45%
Risk-free interest rate, high end of range (as a percent)	0.873%	0.322%	1.87%
Volatility factor of the expected market price of common stock, low end of range (as a percent)	63.00%	59.00%	58.00%
Additional disclosures
Fair value of awards vesting in the period	$ 800	$ 100	$ 400
Unrecognized compensation expense on non-vested stock options (in dollars)	$ 600	$ 1,400	$ 1,000
Non-vested stock options outstanding (in shares)	3.9	6.1	3
Weighted-average period of recognition	1 year 4 months 24 days	1 year 7 months 6 days	1 year 6 months
Stock option expense	$ 840	$ 600	$ 700
Minimum [Member]
Principal assumptions used in applying the Black-Scholes option pricing model for the awards
Dividend yield (as a percent)	0.00%	0.00%	0.00%

SHAREHOLDERS' EQUITY - Non-vest

SHAREHOLDERS' EQUITY - Non-vested Options Outstanding and Exercisable (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares
Stock options granted (in shares)	950,000	5,097,000	3,050,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value
Stock options granted (in dollars per share)	$ 1.22	$ 1.22	$ 1.73
Amended and Restated Equity Incentive Plan and Non-related Plan Options
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares
Balance at the beginning of the period (in shares)	6,093
Stock options granted (in shares)	950
Stock options cancelled/forfeited (in shares)	(1,339)
Stock options vested (in shares)	(1,799)
Balance at the end of the period (in shares)	3,906	6,093
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per share)	$ 0.44
Stock options granted (in dollars per share)	0.44
Stock options cancelled/forfeited (in dollars per share)	0.46
Stock options vested (in dollars per share)	0.45
Balance at the end of the period (in dollars per share)	$ 0.43	$ 0.44

NET LOSS PER SHARE - Reconcilia

NET LOSS PER SHARE - Reconciliation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
NET LOSS PER SHARE
Net loss					$ (23,542)	$ (9,778)	$ (19,814)	$ (99,191)	$ (56,712)	$ (152,325)	$ (59,747)
Weighted average common shares outstanding:									454,899	403,457	361,845
Diluted shares outstanding:									454,899	403,457	361,845
Net loss per share:
Basic and Diluted (in dollars per share)	$ (0.05)	$ (0.04)	$ (0.01)	$ (0.03)	$ (0.06)	$ (0.02)	$ (0.05)	$ (0.25)	$ (0.12)	$ (0.38)	$ (0.17)

RELATED PARTY TRANSACTIONS - Ex

RELATED PARTY TRANSACTIONS - Expense and Payable (Details) - Entity Affiliated With Related Party [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Lexam LP [Member]
RELATED PARTY TRANSACTIONS
Expense	$ 78	$ 99	$ 133
Related party outstanding accounts payable (receivable)		72
REVlaw
RELATED PARTY TRANSACTIONS
Expense	347	158	$ 188
Related party outstanding accounts payable (receivable)	$ 137	$ 90

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	May 23, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Aug. 10, 2018
RELATED PARTY TRANSACTIONS
Stock issued during the period	$ 2,600			$ 1,851
Stock issued during the period (in shares)	1,935,484
Chairman and Chief Executive Officer | Term Loan
RELATED PARTY TRANSACTIONS
Face amount					$ 50,000
Long-term debt from related party					$ 25,000
Affiliate of Robert McEwen
RELATED PARTY TRANSACTIONS
Debt interest expense		$ 2,800	$ 2,400
Stock issued during the period		$ 900
Stock issued during the period (in shares)		1,045,850

FAIR VALUE ACCOUNTING (Details)

FAIR VALUE ACCOUNTING (Details) $ / shares in Units, $ in Thousands	Dec. 31, 2021USD ($)$ / sharesshares	Jun. 23, 2021$ / shares
Disposal Group | Projects in Nevada
Assets:
Price per common share for each warrant | $ / shares		$ 0.60
Fair Value, Measurements, Recurring [Member]
Assets:
Investments	$ 1,644
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Investments	1,644
Marketable equity securities. | Fair Value, Measurements, Recurring [Member]
Assets:
Investments	1,644
Marketable equity securities. | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Investments	$ 1,644
Warrant | Disposal Group | Projects in Nevada
Assets:
Price per common share for each warrant | $ / shares	$ 0.60
Warrants exercised | shares	0
Warrant | Volatility | Disposal Group | Projects in Nevada
Assets:
Average volatility	94.6

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Lease Obligations and Purchase Commitments (Details) $ in Thousands	Dec. 31, 2021USD ($)
Mining and surface rights
2022	$ 492
2023	488
2024	470
2025	443
Total	1,893
Exploration
2022	8,116
2023	15,080
Total	23,196
Reclamation costs
2022	6,358
2023	5,873
2024	525
2025	1,186
Thereafter	29,215
Total	43,157
Long-term debt
2022	4,875
2023	14,712
2024	32,710
2025	10,027
Total	62,324
Lease obligations
2022	2,949
2023	1,058
2024	441
Total	4,448
Total
2022	22,791
2023	37,210
2024	34,146
2025	11,656
Thereafter	29,215
Total	$ 135,018

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Reclamation Bonds and Surety Bonds (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2021CAD ($)
Surety Bonds
Reclamation Bonds
Percentage of annual fees on surety bonds	2.30%	2.30%
Percentage of required deposit on value of surety bonds	10.00%	10.00%
Restricted cash	$ 3.6
Surety Bonds | Nevada
Reclamation Bonds
Surety bonding obligation	25.3
Surety Bonds | Canada [Member]
Reclamation Bonds
Surety bonding obligation	12.4	$ 15.6
Reclamation Bonds | Tonkin and Gold Bar Properties
Reclamation Bonds
Reclamation bonding obligation	25.3
Reclamation Bonds | Timmins
Reclamation Bonds
Restricted cash	0.1
Reclamation Bonds | Black Fox Complex
Reclamation Bonds
Reclamation bonding obligation	$ 12.4	$ 15.6

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Streaming Agreement (Details) $ in Millions	Aug. 25, 2017$ / oz	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Black Fox Complex
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 | $		$ 1.3	$ 1.2
Pike River property
Other commitments
Obligation to sell (as a percent)	6.30%
Maximum [Member] | Black Fox Complex
Other commitments
Inflation adjustment (as a percent)	2.00%

COMMITMENTS AND CONTINGENCIES_4

COMMITMENTS AND CONTINGENCIES - Flow-through Eligible Expenses (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)item
Flow Through CDE
Other commitments
Exploration expenditures	$ 12.7
Flow Through CEE
Other commitments
Number of flow through share issuances | item		2
Exploration expenditures	$ 12.7	$ 1.9
Flow Through CEE | Timmins
Other commitments
Exploration expenditures		$ 18.3

CASH, CASH EQUIVALENTS AND RE_3

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash and cash equivalents	$ 54,287	$ 20,843
Restricted cash - current	2,550
Restricted cash - non-current	3,797	3,595
Total cash, cash equivalents, and restricted cash	60,634	$ 24,438	$ 46,500	$ 30,489
McEwen Copper Inc.
Total cash, cash equivalents, and restricted cash	$ 37,300

INCOME AND MINING TAXES - Defer

INCOME AND MINING TAXES - Deferred Income Tax Recovery (Expense) and Net Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred income tax recovery (expense)
United States	$ 387	$ 817	$ 2,420
Foreign	6,928	573	1,424
Deferred tax benefit	7,315	1,390	3,844
Net income (loss) before tax:
United States	(24,808)	(127,524)	(22,319)
Foreign	(39,391)	(26,191)	(41,272)
Loss before income and mining taxes	$ (64,199)	$ (153,715)	$ (63,591)

INCOME AND MINING TAXES - Recon

INCOME AND MINING TAXES - Reconciliation of Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
INCOME AND MINING TAXES.
Loss before income and mining taxes	$ (64,199)	$ (153,715)	$ (63,591)
Statutory tax rate (as a percent)	21.00%	21.00%	21.00%
US Federal and State tax recovery (expense) at statutory rate	$ (13,482)	$ (32,280)	$ (13,354)
Reconciling items:
Equity pickup in MSC	1,326	374	2,626
Deferred foreign income inclusion		795	598
Realized flow-through expenditures	6,148	496	3,150
Realized flow-through premium	(3,486)	(338)	(2,954)
Adjustment for foreign tax rates	(3,039)	(2,043)	(200)
Other permanent differences	9,353	(2,546)	8,421
NOL expires and revisions	241	1,066	810
Valuation allowance	(4,377)	33,086	(2,941)
Tax benefit	$ (7,315)	$ (1,390)	$ (3,844)

INCOME AND MINING TAXES - Tax E

INCOME AND MINING TAXES - Tax Effects of Temporary Differences (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Net operating loss carryforward	$ 70,830	$ 66,085
Mineral properties	59,426	66,038
Other temporary differences	29,009	30,999
Total gross deferred tax assets	159,265	163,122
Less: valuation allowance	(149,921)	(154,298)	$ (121,212)	$ (124,153)
Net deferred tax assets	9,344	8,824
Deferred tax liabilities:
Acquired mineral property interests	(9,344)	(12,637)
Total deferred tax liabilities	$ (9,344)	(12,637)
Total net deferred tax liability		$ (3,813)

INCOME AND MINING TAXES - Chang

INCOME AND MINING TAXES - Changes to Valuation Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Valuation allowance
Balance at Beginning of Period	$ 154,298	$ 121,212	$ 124,153
Additions	4,058	39,794	2,104
Deductions	(8,435)	(6,708)	(5,045)
Balance at End of Period	$ 149,921	$ 154,298	$ 121,212

INCOME AND MINING TAXES - Non O

INCOME AND MINING TAXES - Non Operating Losses (Details) $ in Thousands	Dec. 31, 2021USD ($)
UNITED STATES
INCOME TAXES
Net-operating losses	$ 190,271
MEXICO
INCOME TAXES
Net-operating losses	45,641
Canada [Member]
INCOME TAXES
Net-operating losses	30,720
ARGENTINA
INCOME TAXES
Net-operating losses	$ 26,367

NON-CONTROLLING INTERESTS (Deta

NON-CONTROLLING INTERESTS (Details) - USD ($) $ / shares in Units, $ in Millions	Aug. 23, 2021	May 23, 2019	Dec. 31, 2021
Noncontrolling Interest
Stock issued during the period (in shares)		1,935,484
McEwen Copper
Noncontrolling Interest
Percentage of ownership by noncontrolling shareholders			18.60%
Percentage of ownership by company before private placement			100.00%
Nonredeemable non-controlling interest			$ 14.8
Contributed Surplus			$ 25.2
Sale To Related Parties | McEwen Copper
Noncontrolling Interest
Stock issued during the period (in shares)	4,000,000
Share price	$ 10
Gross proceeds from private placement offering	$ 40
Percentage of ownership by noncontrolling shareholders			18.60%

UNAUDITED SUPPLEMENTARY QUART_3

UNAUDITED SUPPLEMENTARY QUARTERLY INFORMATION (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Unaudited supplementary quarterly information
Revenues									$ 136,541	$ 104,789	$ 117,019
Gross profit (loss)	$ (5,897)	$ 344	$ 4,059	$ (4,986)	$ (13,687)	$ (701)	$ (8,875)	$ (3,685)	(6,480)	(26,948)	8,986
Net loss					$ (23,542)	$ (9,778)	$ (19,814)	$ (99,191)	(56,712)	(152,325)	(59,747)
Net loss attributable to McEwen shareholders	$ (21,028)	$ (17,401)	$ (5,989)	$ (12,466)					$ (56,884)	$ (152,325)	$ (59,747)
Net (loss) per share:
Basic and diluted (in dollars per share)	$ (0.05)	$ (0.04)	$ (0.01)	$ (0.03)	$ (0.06)	$ (0.02)	$ (0.05)	$ (0.25)	$ (0.12)	$ (0.38)	$ (0.17)
Weighted average shares outstanding:
Basic and diluted (in shares)	454,899	459,187	459,187	441,794	408,959	403,887	400,513	400,370	454,899	403,457	361,845
Gold and silver sales
Unaudited supplementary quarterly information
Revenues	$ 34,966	$ 37,129	$ 40,706	$ 23,740	$ 27,703	$ 27,395	$ 18,291	$ 31,400	$ 136,541	$ 104,789	$ 117,019

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent Event [Member] - Flow Through Common Shares - Private placement offering - Black Fox Complex $ / shares in Units, $ in Millions	Mar. 02, 2022USD ($)$ / sharesshares
Subsequent Event
Gross proceeds | $	$ 15.1
Shares issued | shares	14,500,000
Price per share issued (in dollars per share) | $ / shares	$ 1.04