Note 6 - Investment in Juanicipio (Tables)
|
12 Months Ended |
Dec. 31, 2021 |
|---|
| Statement Line Items [Line Items] |
|
| Disclosure of carrying amount of investments in associates [text block] |
| | | December 31, | | | December 31, | |
| | | 2021 | | | 2020 | |
| Juanicipio Project oversight expenditures incurred 100% by MAG | | $ | 620 | | | $ | 568 | |
| Interest earned, advances to Minera Juanicipio (see Note 14) (1) | | | (1,316 | ) | | | (567 | ) |
| Cash contributions to Minera Juanicipio | | | 73,524 | | | | 63,712 | |
| Total for the year | | | 72,828 | | | | 63,713 | |
| Income from equity accounted Investment in Juanicipio (2) | | | 15,686 | | | | 2,214 | |
| Balance, beginning of year | | | 202,570 | | | | 136,643 | |
| Balance, end of year | | $ | 291,084 | | | $ | 202,570 | |
|
| Disclosure of financial information of investments in associates [text block] |
| | | December 31, | | | December 31, | |
| | | 2021 | | | 2020 | |
| | | | | | | | | |
| Cash and cash equivalents | | $ | 18,972 | | | $ | 51,503 | |
| Value added tax and other receivables | | | 25,580 | | | | 26,055 | |
| Concentrate sales receivable from Fresnillo | | | 18,853 | | | | 5,203 | |
| Inventory | | | 3,234 | | | | 427 | |
| Prepaids and other assets | | | 104 | | | | - | |
| Total current assets | | | 66,743 | | | | 83,188 | |
| Right-of-use assets | | | 2,052 | | | | 18 | |
| Mineral interests, plant and equipment | | | 644,609 | | | | 381,780 | |
| Deferred tax assets | | | 5,254 | | | | - | |
| Total assets | | $ | 718,658 | | | $ | 464,986 | |
| | | | | | | | | |
| Payables to Peñoles and other vendors | | $ | 22,835 | | | $ | 3,713 | |
| Total current liabilities | | | 22,835 | | | | 3,713 | |
| Interest payable to shareholders | | | 4,279 | | | | 1,298 | |
| Lease liabilities | | | 2,053 | | | | 13 | |
| Provisions | | | 4,070 | | | | 1,450 | |
| Deferred tax liabilities | | | 31,266 | | | | 8,406 | |
| Total liabilities | | | 64,503 | | | | 14,880 | |
| Shareholders equity including shareholder advances | | | 654,155 | | | | 450,106 | |
| Total liabilities and equity | | $ | 718,658 | | | $ | 464,986 | |
|
| Disclosure of associate operations [text block] |
| | | Year ended December 31, | |
| | | 2021 | | | 2020 | |
| | | | | | | | | |
| Sales | | $ | 75,393 | | | $ | 15,335 | |
| Cost of sales | | | (15,329 | ) | | | (3,873 | ) |
| Gross profit | | | 60,064 | | | | 11,462 | |
| Consulting and administrative expenses | | | (1,929 | ) | | | (239 | ) |
| Extraordinary mining duty | | | (337 | ) | | | (76 | ) |
| | | | 57,798 | | | | 11,147 | |
| Exchange losses and other | | | (1,363 | ) | | | (623 | ) |
| Income tax expense | | | (20,784 | ) | | | (5,492 | ) |
| | | | | | | | | |
| Income for the year | | $ | 35,651 | | | $ | 5,032 | |
| | | | | | | | | |
| MAG's 44% equity income | | $ | 15,686 | | | $ | 2,214 | |
|
| Disclosure of associate cash flow statements [text block] |
| | | Year ended December 31, | |
| | | 2021 | | | 2020 | |
| Operating activities | | | | | | | | |
| Net income for the year | | $ | 35,651 | | | $ | 5,032 | |
| Items not involving cash | | | | | | | | |
| Deferred income tax expense | | | 17,606 | | | | 5,118 | |
| Other | | | 419 | | | | 1,298 | |
| | | | | | | | | |
| Change in operating assets and liabilities | | | 1,656 | | | | (13,283 | ) |
| Net cash provided from (used in) operating activities | | | 55,332 | | | | (1,835 | ) |
| | | | | | | | | |
| Investing activities | | | | | | | | |
| Capital expenditures including plant, mine development and exploration | | | (254,830 | ) | | | (121,125 | ) |
| Net cash used in investing activities | | | (254,830 | ) | | | (121,125 | ) |
| | | | | | | | | |
| Financing activities | | | | | | | | |
| Shareholder loans and other capital provided by partners | | | 167,100 | | | | 144,800 | |
| Payment of lease obligations | | | (412 | ) | | | (21 | ) |
| Net cash provided from financing activities | | | 166,688 | | | | 144,779 | |
| | | | | | | | | |
| Effects of exchange rate changes on cash and cash equivalents | | | 279 | | | | 83 | |
| | | | | | | | | |
| (Decrease) increase in cash and equivalents | | | (32,810 | ) | | | 21,819 | |
| | | | | | | | | |
| Cash and cash equivalents, beginning of year | | | 51,503 | | | | 29,601 | |
| | | | | | | | | |
| Cash and cash equivalents, end of year | | $ | 18,972 | | | $ | 51,503 | |
|