Twenty years have passed since the enigmatic disappearance of the legendary outlaw in 1908, and the aging figure returns only to Bolivian soil after living under the alias James Blackthorn in a quiet village. In a quiet moment of news, he learns of Etta Place’s death and decides, with a measured resolve, to set a course back toward the United States. He writes to their son, Ryan, plainly stating his intention to come home, while the rhythms of a solitary life—horses to tend, miles to walk, and a fragile sense of belonging—pull him toward a final reckoning. Before he departs, he confides in his longtime companion, Yana, that a last farewell awaits him, and that he will see her again before he leaves Bolivia.
Momentum carries him to Potosí, where the practical acts of selling horses and withdrawing savings mark the surface of a deeper reckoning. Along the dusty road back to his village, danger suddenly closes in: an ambush leaves him wounded, and his horse, Cinco, bolts away with the money he had hoped to recover. The shooter, Eduardo Apodaca, a Spaniard mining engineer, stumbles into Blackthorn’s path with a plea for help. In exchange for aid, Apodaca offers a chunk of the $50,000 he has stolen from Simón Patiño, the powerful mine owner, with a promise to share the spoils. The two men form a wary alliance as they race across a harsh desert plateau, pursued by Patiño’s posse, and eventually reach the abandoned mine where the money is supposedly hidden.
A tense shootout tests their chances, yet Blackthorn and Apodaca slip away with the money. They shelter at Blackthorn’s cabin, where memories of old friendships—especially the bond with the Sundance Kid and Etta Place—surface in the quiet, wind-burnished spaces of the Bolivian landscape. Yana joins them at the cabin, and Blackthorn offers her a pocket watch he won in a card game—a gift that she initially rejects as a mere “gringo machine” but slowly accepts as a tangible keepsake of his life. He asks her to spend one last night with him, hoping for a moment of peace, but she explains she must return to her own family. In the end, she chooses to stay for a final night, seeking solace in his presence as the past presses in.
Dawn arrives with a new danger: two female members of the posse come to the cabin to question the Spaniard, and a swift gunfight erupts. Blackthorn is wounded, and Yana is killed. The Spaniard and Blackthorn slip away, pursued by the wider posse, crossing into the stark, wind-whipped expanse of the Uyuni salt flats. Midway across, the pursuers close in, forcing the pair to split up and strike back at their pursuers. They endure the salt-flat fever of endurance, and both manage to survive the encounters long enough to reach the protection of the far hills and canyons.
In Tupiza, a doctor treats Blackthorn and alerts the former Pinkerton detective Mackinley to the outlaw’s return. Mackinley, who had long claimed that the San Vincente killings were not the work of Butch Cassidy and the Sundance Kid, contends with a troubling truth when he learns Blackthorn had ridden with the Spaniard. He initially betrays suspicion, but when confronted with the reality that the Spaniard stole money from cooperative miners rather than from a single powerful owner, Mackinley’s sense of justice overrides his earlier deception. He chooses not to discard Blackthorn, even as the truth about the money—stolen from poor Bolivians rather than from the mine bosses—casts a new light on the outlaw’s past misdeeds and memories of battles with the miner’s posse.
Flashbacks to the days when Blackthorn rode with the Sundance Kid reveal a poignant moral complexity. In a moment of crisis, Sundance, wounded and near death, asks Blackthorn to “do it.” With a heavy heart, Blackthorn must take the life of his closest ally, a painful reminder that loyalty and survival can collide with affection and memory.
The narrative threads converge in the present as Blackthorn tracks the Spaniard into the high Andes, with the Bolivian Army somewhere close behind. When he finally confronts the truth—what the money represented and whom it truly belonged to—the Spaniard does not deny the claim, framing it as money belonging to “different owners.” Enraged by the moral signal this sends, Blackthorn shoots the Spaniard in the leg and abandons him with the money for the Bolivian army, who soon arrive and take the thief into custody. Mackinley, spared by the chaos, accompanies the army but faces a form of punishment from the commander for aiding Blackthorn’s escape: he is left without a horse in a harsh, unforgiving landscape.
As the dust settles, Blackthorn moves through the rugged terrain with a wary grace, weighed down by memory and a life spent in flux. The film closes with a quiet image: Blackthorn looking back over his shoulder, a final glimmer of hope or perhaps a final look at the road he has traveled, and the implication that he may have escaped the shadow of his former life, carried forward by a stubborn will to reach the mountains that lie beyond.
