Hycroft Mining Holding Corporation
NASDAQ:HYMC
Hycroft Mining Holding Corporation
Hycroft Mining Holding Corp. engages in the exploration, mining, and development of gold and silver properties. The company is headquartered in Winnemucca, Nevada and currently employs 95 full-time employees. The company went IPO on 2018-02-12. The firm is engaged in the operations, development and exploration activities of Hycroft Mine. The Company’s Hycroft Mine, is an open-pit heap leach operation. The Company’s Hycroft Mine is located approximately 54 miles west of Winnemucca, Nevada. The firm covers an approximately 70,671 acres of patented and unpatented claims. The Hycroft Mine is located on the western flank of the Kamma Mountains.
Hycroft Mining Holding Corp. engages in the exploration, mining, and development of gold and silver properties. The company is headquartered in Winnemucca, Nevada and currently employs 95 full-time employees. The company went IPO on 2018-02-12. The firm is engaged in the operations, development and exploration activities of Hycroft Mine. The Company’s Hycroft Mine, is an open-pit heap leach operation. The Company’s Hycroft Mine is located approximately 54 miles west of Winnemucca, Nevada. The firm covers an approximately 70,671 acres of patented and unpatented claims. The Hycroft Mine is located on the western flank of the Kamma Mountains.
Mining Halted: Hycroft announced it is ceasing mining operations at its mine effective immediately to focus on de-risking and development work.
Processing Continues: Metal inventory on leach pads will continue to be processed until it becomes uneconomic.
Strategic Shift: The company is pivoting from a novel sulphide process to pursuing a milling operation using pressure oxidation (POX), which is seen as lower risk and more economic for the ore body.
PFS in Progress: Technical studies and a pre-feasibility study (PFS) on the POX milling option are underway, with completion expected in Q1 2022.
Exploration Focus: Recent drilling returned high-grade gold and silver intercepts, prompting plans for targeted exploration of prospective zones.
Cost Control: Management highlighted ongoing cost control and operational efficiency improvements, especially in safety metrics.
