2020 Q4 Form 10-K Financial Statement

#000155837021002708 Filed on March 10, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2019 Q4 2019 Q3
Revenue $27.70M $32.36M $32.69M
YoY Change -14.4% 22.44% 21.55%
Cost Of Revenue $41.39M $31.10M $31.07M
YoY Change 33.09% 31.33% 48.8%
Gross Profit -$13.69M $1.261M $1.619M
YoY Change -1185.41% -54.13% -73.08%
Gross Profit Margin -49.41% 3.9% 4.95%
Selling, General & Admin $4.580M $7.350M $4.790M
YoY Change -37.69% 6.83% -35.44%
% of Gross Profit 582.87% 295.86%
Research & Development $4.100M $14.03M $13.70M
YoY Change -70.78% 104.52% 66.46%
% of Gross Profit 1112.61% 846.2%
Depreciation & Amortization $6.860M $150.0K $100.0K
YoY Change 4473.33% -44.44% -64.29%
% of Gross Profit 11.9% 6.18%
Operating Expenses $8.550M $23.67M $19.07M
YoY Change -63.88% 42.85% 17.35%
Operating Profit -$22.24M -$22.41M -$17.78M
YoY Change -0.77% 62.14% 16.93%
Interest Expense -$2.520M -$2.130M $4.190M
YoY Change 18.31% 213.24% 1296.67%
% of Operating Profit
Other Income/Expense, Net $380.0K -$20.00K $4.123M
YoY Change -2000.0% -60.0% 1260.73%
Pretax Income -$23.66M -$26.40M -$13.66M
YoY Change -10.38% 39.9% -8.36%
Income Tax -$110.0K -$1.270M -$2.192M
% Of Pretax Income
Net Earnings -$23.54M -$25.13M -$11.47M
YoY Change -6.33% 19.74% -13.73%
Net Earnings / Revenue -84.99% -77.66% -35.07%
Basic Earnings Per Share
Diluted Earnings Per Share -$57.55K -$66.35K -$31.67K
COMMON SHARES
Basic Shares Outstanding 408.8M 362.5M 362.2M
Diluted Shares Outstanding 362.2M

Balance Sheet

Concept 2020 Q4 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.80M $48.30M $7.500M
YoY Change -56.94% 155.56% -82.95%
Cash & Equivalents $20.84M $46.45M $4.262M
Short-Term Investments $1.900M $3.200M
Other Short-Term Assets $3.900M $2.607M $2.872M
YoY Change 49.6% 54.63%
Inventory $26.96M $38.38M $34.37M
Prepaid Expenses
Receivables $5.300M
Other Receivables $0.00
Total Short-Term Assets $53.50M $91.98M $56.89M
YoY Change -41.84% 54.91% -26.88%
LONG-TERM ASSETS
Property, Plant & Equipment $48.99M $107.6M $424.8M
YoY Change -54.45% -6.24% 5.5%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $108.3M $110.2M $117.0M
YoY Change -1.72% -13.77% -12.23%
Other Assets $621.0K $620.0K $757.0K
YoY Change 0.16% -51.6% -89.03%
Total Long-Term Assets $446.4M $539.2M $550.3M
YoY Change -17.21% -3.29% 1.39%
TOTAL ASSETS
Total Short-Term Assets $53.50M $91.98M $56.89M
Total Long-Term Assets $446.4M $539.2M $550.3M
Total Assets $499.9M $631.2M $607.2M
YoY Change -20.8% 2.31% -2.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $36.10M $34.10M $32.10M
YoY Change 5.87% 10.71% -14.63%
Accrued Expenses $2.400M $2.100M $2.000M
YoY Change 14.29%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $5.000M $2.000M
YoY Change -100.0%
Long-Term Debt Due $0.00 $10.00M $4.000M
YoY Change -100.0% 566.67% 300.0%
Total Short-Term Liabilities $45.55M $48.80M $40.43M
YoY Change -6.64% 35.5% 1.33%
LONG-TERM LIABILITIES
Long-Term Debt $48.16M $39.50M $45.40M
YoY Change 21.92% -26.99% -13.03%
Other Long-Term Liabilities $3.257M $3.910M $4.018M
YoY Change -16.7% -32.18% -85.95%
Total Long-Term Liabilities $51.42M $3.910M $4.018M
YoY Change 1215.01% -32.18% -95.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.55M $48.80M $40.43M
Total Long-Term Liabilities $51.42M $3.910M $4.018M
Total Liabilities $134.6M $131.7M $129.5M
YoY Change 2.17% 0.57% 2.78%
SHAREHOLDERS EQUITY
Retained Earnings -$1.184B -$1.031B -$1.006B
YoY Change 14.77% 6.15%
Common Stock $1.549B $1.531B $1.484B
YoY Change 1.19% 5.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $365.3M $499.5M $477.7M
YoY Change
Total Liabilities & Shareholders Equity $499.9M $631.2M $607.2M
YoY Change -20.8% 2.31% -2.16%

Cashflow Statement

Concept 2020 Q4 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income -$23.54M -$25.13M -$11.47M
YoY Change -6.33% 19.74% -13.73%
Depreciation, Depletion And Amortization $6.860M $150.0K $100.0K
YoY Change 4473.33% -44.44% -64.29%
Cash From Operating Activities -$2.600M -$17.61M -$12.77M
YoY Change -85.24% -1434.09% 780.69%
INVESTING ACTIVITIES
Capital Expenditures -$4.070M -$2.680M -$2.550M
YoY Change 51.87% -90.46% -90.12%
Acquisitions
YoY Change
Other Investing Activities $60.00K $7.400M $6.230M
YoY Change -99.19% 2076.47% 398.4%
Cash From Investing Activities -$4.010M $4.720M $3.680M
YoY Change -184.96% -117.01% -114.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.320M 46.40M -390.0K
YoY Change -79.91% 208.31% -100.83%
NET CHANGE
Cash From Operating Activities -2.600M -17.61M -12.77M
Cash From Investing Activities -4.010M 4.720M 3.680M
Cash From Financing Activities 9.320M 46.40M -390.0K
Net Change In Cash 2.710M 33.51M -9.480M
YoY Change -91.91% -394.46% -145.12%
FREE CASH FLOW
Cash From Operating Activities -$2.600M -$17.61M -$12.77M
Capital Expenditures -$4.070M -$2.680M -$2.550M
Free Cash Flow $1.470M -$14.93M -$10.22M
YoY Change -109.85% -150.77% -141.94%

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 10pt 0pt;"><b style="font-weight:bold;">NOTE 1 NATURE OF OPERATIONS</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;">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.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The Company operates in the United States, Canada, Mexico and Argentina. The Company owns a 100% interest in the Gold Bar mine in Nevada, the Black Fox gold mine in Ontario, Canada, the El Gallo Project in Sinaloa, Mexico, the Fenix silver-gold project in Sinaloa, Mexico, the Los Azules copper deposit in San Juan, Argentina, and a portfolio of exploration properties in Nevada, Canada, Mexico and Argentina.  It also owns a 49% interest in Minera Santa Cruz S.A. (“MSC”), owner of the producing San José silver-gold mine in Santa Cruz, Argentina, which is operated by the joint venture majority owner, Hochschild Mining plc.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">During the year (Note 14) and subsequent to year end (Note 23) the Company closed on $64.4 million in gross proceeds from equity financings. As a result of this, the Company believes it has sufficient liquidity along with funds generated from ongoing operations, to fund anticipated cash requirements for operations, capital expenditures and working capital purposes. As a result, the previously disclosed going concern note has been removed, as substantial doubt no longer exists regarding the Company’s ability to meet its obligations as they become due within one year after the date that the financial statements are issued.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p>
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Basis of Presentation and Use of Estimates:</b>  </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;">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 and relief funds 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. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 10pt 0pt;">References to “C$” refer to Canadian currency.</p>
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3464000
CY2020 us-gaap Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
53600
CY2020 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
100000
CY2019 us-gaap Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
353570
CY2019Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
1935484
CY2019Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2600000
CY2019Q2 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
400000
CY2020Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
17500000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Maximum Number Of Shares Per Employee
ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee
1000000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
2308550
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
4221023
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4906000
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.45
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y7M6D
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2564000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
375000
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.90
CY2018 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
171000
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.02
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
195000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
405000
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.99
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
462000
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
2.27
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4243000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.33
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1475000
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
3050000
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.73
CY2019 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
535000
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.01
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
419000
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
700000
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.56
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
789000
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
2.90
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5269000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.00
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
364000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
5097000
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.22
CY2020 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
135000
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.02
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
10000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1968000
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.18
CY2020 mux Share Based Compensation Arrangement By Share Based Payment Award Options Forfeited In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeitedInPeriodIntrinsicValue
2000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
1251000
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
1.19
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7012000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.55
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y2M12D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
53000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
919000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.02
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y7M6D
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.00157
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.00322
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0145
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0187
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0267
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0289
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.59
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.58
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.58
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.63
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.64
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y6M
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y6M
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y6M
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.22
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.73
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.90
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
600000
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
700000
CY2018 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
300000
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
100000
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
400000
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
700000
CY2020Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
1400000
CY2019Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
1000000.0
CY2018Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
400000
CY2020 mux Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options Number
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptionsNumber
6100000
CY2019 mux Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options Number
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptionsNumber
3000000.0
CY2018 mux Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options Number
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptionsNumber
700000
CY2020 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y7M6D
CY2019 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y6M
CY2018 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y4M24D
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-152325000
CY2019 us-gaap Net Income Loss
NetIncomeLoss
-59747000
CY2018 us-gaap Net Income Loss
NetIncomeLoss
-44870000
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
403457000
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
361845000
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
337297000
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
403457000
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
361845000
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
337297000
CY2020 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.38
CY2019 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.17
CY2018 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.13
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-47640000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-153715000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-63591000
CY2020Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
48200000
CY2019Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
49500000
CY2020Q4 mux Operating Leases Future Minimum Payments Due Mining And Surface Rights Due In Next Twelve Months
OperatingLeasesFutureMinimumPaymentsDueMiningAndSurfaceRightsDueInNextTwelveMonths
2233000
CY2020Q4 mux Operating Leases Future Minimum Payments Due Mining And Surface Rights Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueMiningAndSurfaceRightsDueInTwoYears
492000
CY2020Q4 mux Operating Leases Future Minimum Payments Due Mining And Surface Rights Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueMiningAndSurfaceRightsDueInThreeYears
488000
CY2020Q4 mux Operating Leases Future Minimum Payments Due Mining And Surface Rights Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueMiningAndSurfaceRightsDueInFourYears
470000
CY2020Q4 mux Operating Leases Future Minimum Payments Due Mining And Surface Rights Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueMiningAndSurfaceRightsDueThereafter
443000
CY2020Q4 mux Operating Leases Future Minimum Payments Due Mining And Surface Rights Due
OperatingLeasesFutureMinimumPaymentsDueMiningAndSurfaceRightsDue
4126000
CY2020Q4 mux Reclamation Costs Due In Next Twelve Months
ReclamationCostsDueInNextTwelveMonths
2819000
CY2020Q4 mux Reclamation Costs Due In Second Year
ReclamationCostsDueInSecondYear
5363000
CY2020Q4 mux Reclamation Costs Due In Third Year
ReclamationCostsDueInThirdYear
5510000
CY2020Q4 mux Reclamation Costs Due In Fourth Year
ReclamationCostsDueInFourthYear
564000
CY2020Q4 mux Reclamation Costs Due Thereafter
ReclamationCostsDueThereafter
27428000
CY2020Q4 mux Reclamation Costs
ReclamationCosts
41684000
CY2020Q4 mux Long Term Debt Obligations In Next Twelve Months
LongTermDebtObligationsInNextTwelveMonths
4875000
CY2020Q4 mux Long Term Debt Obligations In Second Year
LongTermDebtObligationsInSecondYear
14712000
CY2020Q4 mux Long Term Debt Obligations In Third Year
LongTermDebtObligationsInThirdYear
42139000
CY2020Q4 mux Long Term Debt Obligations
LongTermDebtObligations
61726000
CY2020Q4 mux Lease Liability Payments Due Next Twelve Months
LeaseLiabilityPaymentsDueNextTwelveMonths
2695000
CY2020Q4 mux Lease Liability Payments Due Year Two
LeaseLiabilityPaymentsDueYearTwo
2416000
CY2020Q4 mux Lease Liability Payments Due Year Three
LeaseLiabilityPaymentsDueYearThree
508000
CY2020Q4 mux Lease Liability Payments Due Year Four
LeaseLiabilityPaymentsDueYearFour
180000
CY2020Q4 mux Lease Liability Payments Due
LeaseLiabilityPaymentsDue
5799000
CY2020Q4 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
12622000
CY2020Q4 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
22983000
CY2020Q4 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
48645000
CY2020Q4 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
1214000
CY2020Q4 us-gaap Contractual Obligation Due After Fifth Year
ContractualObligationDueAfterFifthYear
27871000
CY2020Q4 us-gaap Contractual Obligation
ContractualObligation
113335000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-127524000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-22319000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-27001000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-26191000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-41272000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-20639000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
20843000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
46452000
CY2020Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
3595000
CY2019Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
48000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
24438000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
46500000
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-817000
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-2420000
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-2185000
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-573000
CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-1424000
CY2018 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-585000
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1390000
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-3844000
CY2018 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-2770000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-47640000
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-32280000
CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-13354000
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-10004000
CY2020 us-gaap Income Tax Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
IncomeTaxReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
-374000
CY2019 us-gaap Income Tax Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
IncomeTaxReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
-2626000
CY2018 us-gaap Income Tax Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
IncomeTaxReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
-2966000
CY2020 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
795000
CY2019 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
598000
CY2018 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
5963000
CY2020 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
496000
CY2019 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
3150000
CY2018 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
2100000
CY2020 mux Income Tax Reconciliation Realized Flow Through Premium
IncomeTaxReconciliationRealizedFlowThroughPremium
-338000
CY2019 mux Income Tax Reconciliation Realized Flow Through Premium
IncomeTaxReconciliationRealizedFlowThroughPremium
-2954000
CY2018 mux Income Tax Reconciliation Realized Flow Through Premium
IncomeTaxReconciliationRealizedFlowThroughPremium
-1675000
CY2020 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-147000
CY2019 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 10pt 0pt;"><b style="font-weight:bold;">NOTE 22 COMPARATIVE FIGURES</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;">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. <i style="font-style:italic;">Advanced projects </i>in the <i style="font-style:italic;">Statement of Operations </i>includes mine development costs, property holding and general and administrative costs associated with advanced stage projects. <i style="font-style:italic;">Exploration </i>in the <i style="font-style:italic;">Statement of Operations </i>includes exploration expenses, property holding and general and administrative costs associated with exploration stage projects. <i style="font-style:italic;">General and</i> <i style="font-style:italic;">Administrative </i>in the <i style="font-style:italic;">Statement of Operations </i>include corporate (head office) general and administrative costs.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;"><span style="visibility:hidden;">​</span></p>

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