Resource Highlights - Total Measured and Indicated (M&I) Gold Resources are 106 million ounces [11] - Total Inferred Gold Resources are 34 million ounces [11] - Total M&I Silver Resources are 361 million ounces [11] - Total Inferred Silver Resources are 96 million ounces [11] - Total M&I Gold Equivalent Resources are 152 million ounces [14] - Total Inferred Gold Equivalent Resources are 46 million ounces [14] - The resource area comprises less than 10% of the company's land package [22, 40, 44, 85] Financial Position - Cash position was approximately $397 million as of March 31, 2025 [9, 24] - An additional $277 million was held as restricted cash [24] Exploration and Development - The company has made a new high-grade silver discovery [9, 22, 33] - Average flotation recoveries are 10% higher than previously modeled, with 89% gold and 93% silver recovery [33]

Group 1 - Hycroft Mining Holding Corporation (NYSE: HYMC) is considered a highly speculative investment with potential asymmetric upside related to gold prices [1] - The company possesses significant precious metals deposits located in Nevada, and its current valuations are notably below the intrinsic value of its assets [1] Group 2 - The article indicates that the author may initiate a long position in HYMC through stock purchases or call options within the next 72 hours [2]

Core Viewpoint - Hycroft Mining Holding Corporation has announced an underwritten offering of 12,500,000 units at a price of $3.50 per unit, aiming to raise approximately $43.75 million for exploration and working capital [1][2]. Group 1: Offering Details - Each unit consists of one share of common stock and one-half of a common stock purchase warrant, with each whole warrant exercisable at $4.20 per share for 36 months [1]. - The offering is expected to close on June 13, 2025, subject to customary closing conditions [2]. - The underwriters have a 30-day option to purchase an additional 1,875,000 units at their discretion [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for further exploration, working capital, and general corporate purposes [2]. Group 3: Company Background - Hycroft Mining Holding Corporation is focused on developing the Hycroft Mine, one of the largest precious metals deposits in northern Nevada, transitioning to commercial operations for processing sulfide ore [5]. - The company is also engaged in a robust exploration drill program to expand high-grade silver systems and unlock the full potential of its assets [5].

Core Viewpoint - Hycroft Mining Holding Corporation is proposing a public underwritten offering of units for gross proceeds of approximately $40 million, which will consist of common stock and warrants [1][3]. Group 1: Offering Details - The offering will include units comprised of one share of common stock and one-half of a common stock purchase warrant, with each whole warrant exercisable for one share of common stock [1]. - The net proceeds from the offering will be utilized for further exploration, working capital, and general corporate purposes [2]. - The offering will be priced based on market conditions, with a 30-day option for underwriters to purchase an additional 15% of the base offering [3]. Group 2: Regulatory and Procedural Aspects - The offering is being conducted under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC) [4]. - A preliminary prospectus supplement will be filed with the SEC, detailing the terms of the offering [4]. Group 3: Company Overview - Hycroft Mining Holding Corporation is focused on developing the Hycroft Mine, one of the largest precious metals deposits in northern Nevada, transitioning to commercial operations for processing sulfide ore [6]. - The company is engaged in exploration drilling to expand high-grade silver systems and unlock the full potential of its mining assets [6].

Financial Results - Hycroft Mining Holding Corporation reported its operating and financial results for Q1 2025 on May 14, 2025[5] - The financial results for the quarter ended March 31, 2025, are yet to be detailed in the provided documents[5] Company Information - The company is listed on the Nasdaq Stock Market under the trading symbol HYMC[3] - The report does not indicate any emerging growth company status for Hycroft Mining[4] Press Release - The press release detailing the results is included as Exhibit 99.1 in the current report[5]

Part I - Financial Information [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The company's financial statements for the quarter ended March 31, 2025, reflect a net loss of $11.8 million, an improvement from the $20.7 million loss in the prior-year period, with total assets decreasing to $129.3 million and stockholders' deficit widening to $44.5 million [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2025, the company's total assets were $129.3 million, a decrease from $140.1 million at year-end 2024, primarily due to a reduction in cash and cash equivalents, resulting in an increased total stockholders' deficit of $44.5 million Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 (unaudited) | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $39,688 | $49,560 | | Total current assets | $44,009 | $54,600 | | Total assets | $129,327 | $140,135 | | **Liabilities & Stockholders' Deficit** | | | | Total current liabilities | $2,722 | $5,794 | | Total liabilities | $173,833 | $173,550 | | Total stockholders' deficit | $(44,506) | $(33,415) | | Total liabilities and stockholders' deficit | $129,327 | $140,135 | [Unaudited Condensed Consolidated Statements of Operations](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations) For the three months ended March 31, 2025, the company reported a net loss of $11.8 million, or $(0.47) per share, a significant improvement compared to a net loss of $20.7 million, or $(1.00) per share, for the same period in 2024, driven by lower exploration costs and reduced interest expense Statement of Operations Summary (in thousands, except per share data) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Loss from operations | $(9,222) | $(11,928) | | Interest expense | $(3,387) | $(10,119) | | **Net loss** | **$(11,759)** | **$(20,749)** | | Loss per share (basic and diluted) | $(0.47) | $(1.00) | [Unaudited Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) In Q1 2025, net cash used in operating activities was $9.7 million, with minor investing outflows and $0.2 million from financing activities, resulting in a net decrease of $9.6 million in total cash, cash equivalents, and restricted cash, bringing the end-of-period balance to $67.4 million Cash Flow Summary (in thousands) | Cash Flow Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(9,695) | $(11,733) | | Net cash (used in) provided by investing activities | $(114) | $245 | | Net cash provided by (used in) financing activities | $182 | $(36,863) | | **Net decrease in cash, cash equivalents, and restricted cash** | **$(9,627)** | **$(48,351)** | [Notes to Unaudited Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) The notes disclose critical information, including the company's operational status, financial condition, and accounting policies, highlighting the cessation of mining operations, a going concern warning, debt covenant compliance, and ongoing exploration for its Nevada-based Hycroft Mine - The company discontinued mining operations in November 2021 and is currently focused on exploration, data analysis, and advancing technical studies to determine the optimal processing method for sulfide ores[24](index=24&type=chunk) - The financial statements were prepared on a going concern basis, but management has identified **substantial doubt about the Company's ability to continue as a going concern** due to significant operating losses and dependence on raising additional capital[27](index=27&type=chunk)[29](index=29&type=chunk) - The company is subject to debt covenants under the Sprott Credit Agreement that require it to maintain Unrestricted Cash of at least **$15.0 million** and Working Capital of at least **$10.0 million**[28](index=28&type=chunk) - Through its at-the-market (ATM) program, the company sold **108,072 shares** for net proceeds of **$0.2 million** in Q1 2025, with **$97.5 million** remaining available for issuance under the program[25](index=25&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=21&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's focus on exploration and development following the 2021 cessation of mining, highlighting a reduced net loss in Q1 2025 driven by lower exploration and interest expenses, with liquidity remaining a key concern dependent on existing cash and capital raising efforts to fund operations and meet debt covenants [Executive Summary and Recent Developments](index=21&type=section&id=Executive%20Summary%20and%20Recent%20Developments) In Q1 2025, the company focused on analyzing data from its 2024 drill program and advancing metallurgical test work for its sulfide ore, identifying significant improvements in gold and silver flotation recoveries and new high-potential exploration targets, while continuing to strengthen its balance sheet through strategic initiatives - The company is analyzing results from the 2024 exploration drill program and conducting metallurgical and variability test work to follow up on the 2023 Technical Report Summary (TRS)[95](index=95&type=chunk) - Analysis of the 2024 drill program has led to the understanding that high-grade trends are influenced by structure, identifying new high-potential targets named Manganese and Bay[97](index=97&type=chunk) - Ongoing metallurgical test work has identified significant improvements in gold and silver flotation recoveries compared to the current technical report, potentially increasing economic benefits[98](index=98&type=chunk) [2025 Outlook](index=22&type=section&id=2025%20Outlook) Subject to securing sufficient funding, the company's 2025 plans include assessing a high-grade underground mining scenario, executing a follow-up exploration program budgeted at approximately $4.0 million, and finalizing engineering and trade-off studies aimed at optimizing the process flow sheet, with an updated technical report anticipated in the second half of 2025 - Key 2025 plans, subject to funding, include assessing a high-grade underground mining scenario and executing a follow-up exploration program[99](index=99&type=chunk) - The next exploration program is designed to test high-grade silver trends and new targets, with a budget of approximately **$4.0 million**[100](index=100&type=chunk) - An updated technical report is anticipated in the second half of 2025, following the completion of trade-off studies and alternative analyses[101](index=101&type=chunk) [Results of Operations](index=23&type=section&id=Results%20of%20Operations) The company's loss from operations for Q1 2025 decreased to $9.2 million from $11.9 million in Q1 2024, primarily due to a $1.9 million reduction in exploration costs from cash conservation measures and a $1.9 million decrease in asset retirement obligation expense, with interest expense also falling significantly by $6.7 million due to accelerated amortization related to a debt prepayment in the prior-year period Comparison of Operating Expenses (in thousands) | Expense Category | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Exploration and development costs | $2,999 | $4,903 | | General and administrative costs | $2,933 | $2,913 | | Mine site costs | $2,469 | $2,584 | | Asset retirement obligation adjustments and accretion expense | $333 | $2,223 | | **Total Operating Expenses (Loss from operations)** | **$(9,222)** | **$(11,928)** | - Exploration and development costs decreased by **$1.9 million** due to reduced exploration drilling driven by cash conservation measures[104](index=104&type=chunk) - Interest expense decreased by **$6.7 million**, primarily because the prior year included **$6.9 million** of accelerated amortization of original issue discount and issuance costs related to voluntary debt prepayments[112](index=112&type=chunk) [Liquidity and Capital Resources](index=24&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity position weakened, with unrestricted cash falling to $39.7 million at March 31, 2025, and as it does not expect positive cash flow from operations, it remains dependent on its cash reserves and ability to raise capital, actively managing liquidity through cost controls and evaluating financing alternatives while adhering to debt covenants requiring minimum unrestricted cash of $15.0 million and working capital of $10.0 million - The company's unrestricted cash position was **$39.7 million** at March 31, 2025, down from **$49.6 million** at December 31, 2024[113](index=113&type=chunk) - The company does not expect to generate net positive cash from operations for the foreseeable future and is dependent on its unrestricted cash and other sources to fund the business[113](index=113&type=chunk) - The Sprott Credit Agreement requires the company to maintain, at all times, both Working Capital and Unrestricted Cash of at least **$15.0 million**[130](index=130&type=chunk) Contractual Cash Obligations as of March 31, 2025 (in thousands) | Obligation | Total | Less than 1 Year | 1 - 3 Years | More than 5 Years | | :--- | :--- | :--- | :--- | :--- | | Sprott Royalty Agreement | $241,199 | $— | $— | $241,199 | | Remediation and reclamation | $110,963 | $179 | $9,944 | $100,840 | | Interest payments | $3,822 | $1,764 | $2,058 | $— | | Repayments of debt principal | $164,781 | $28 | $164,753 | $— | | **Total** | **$525,109** | **$1,971** | **$176,755** | **$346,383** | [Quantitative and Qualitative Disclosures about Market Risk](index=28&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) As a smaller reporting company, Hycroft is not required to provide quantitative and qualitative disclosures about market risk, and this information has been omitted from the report - The Company qualifies as a smaller reporting company, and therefore, quantitative and qualitative disclosures about market risk are not required[139](index=139&type=chunk) [Controls and Procedures](index=28&type=section&id=Item%204.%20Controls%20and%20Procedures) Based on an evaluation as of March 31, 2025, the company's management, including the CEO and CFO, concluded that its disclosure controls and procedures were effective, with no significant changes in internal control over financial reporting during the quarter - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective as of March 31, 2025[142](index=142&type=chunk) - There were no significant changes in internal control over financial reporting during the quarter ended March 31, 2025[144](index=144&type=chunk) Part II - Other Information [Legal Proceedings](index=29&type=section&id=Item%201.%20Legal%20Proceedings) The company is a defendant in several pro se lawsuits related to warrant agreements, with one individual action discontinued, and has determined that a loss is not probable nor reasonably estimable, resulting in no recorded liability - The Company is a defendant in four pro se individual and/or putative class/derivative actions related to warrant agreements, with one lawsuit discontinued[78](index=78&type=chunk) - The company has assessed the legal proceedings and determined that a loss was not probable nor reasonably estimable, resulting in no litigation accruals being recorded[79](index=79&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=29&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during the quarter - None reported for the period[147](index=147&type=chunk) [Defaults Upon Senior Securities](index=29&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon its senior securities during the quarter - None reported for the period[148](index=148&type=chunk) [Mine Safety Disclosures](index=29&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) The company maintains a strong focus on mine safety, with a goal of zero workplace injuries, reporting no lost time incidents during Q1 2025 and operating for over 1.2 million man-hours without such an incident, resulting in a trailing 12-month Total Recordable Injury Frequency Rate (TRIFR) of 0.00 as of March 31, 2025 - The company reported no lost time incidents during the three months ended March 31, 2025, and has operated in excess of **1.2 million man-hours** without a lost time incident[94](index=94&type=chunk) - The Hycroft Mine's total recordable injury frequency rate (TRIFR) for the trailing 12 months was **0.00** at March 31, 2025[94](index=94&type=chunk) - Detailed information concerning mine safety violations or other regulatory matters is included in Exhibit 95.1 of the report[150](index=150&type=chunk) [Other Information](index=29&type=section&id=Item%205.%20Other%20Information) The company reported no other material information for the quarter, with no material changes to director nominee recommendation procedures and no directors or officers adopting or terminating a Rule 10b5-1 trading plan - During the quarter, no director or officer of the Company adopted or terminated a Rule 10b5-1(c) trading plan or a non-Rule 10b5-1 trading arrangement[151](index=151&type=chunk) [Exhibits](index=30&type=section&id=Item%206.%20Exhibits) This section provides a list of all exhibits filed with the Quarterly Report on Form 10-Q, including amendments to employment agreements, CEO and CFO certifications, mine safety disclosures, and interactive data files (XBRL) - The report includes exhibits such as amendments to employment agreements, CEO and CFO certifications (Rule 13a-14(a) and Section 1350), Mine Safety Disclosures (Exhibit 95.1), and Inline XBRL documents[152](index=152&type=chunk)

Summary of Hycroft Mining Holding (HYMC) Update / Briefing May 01, 2025 Company Overview - **Company**: Hycroft Mining Holding (HYMC) - **Event**: Update/Briefing on exploration and drilling results Key Points Industry and Company Insights - **Exploration Focus**: The briefing primarily discusses the exploration activities at the Brimstone target within the Hycroft project, emphasizing its geological characteristics and mineralization potential [7][9][10]. - **Geological Findings**: The presence of specific silver minerals such as nomenite and argento tetrahedra indicates a shift in understanding the mineralization system at Brimstone, classifying it as an intermediate sulfidation system rather than an amagmatic epithermal system [7][9][10]. Core Findings and Technical Details - **Drilling Results**: Out of 13 drilled holes at Brimstone, 10 holes reported exceptionally high grades, with one intercept exceeding 80,000 grams per ton of silver, marking it as the highest intercept globally for Q1 2025 [15][16][52]. - **Silver to Gold Ratios**: The silver to gold ratio at Brimstone is reported at over 1,600:1, significantly higher than the 600:1 ratio observed at the Vortex target, indicating a distinct mineralization profile [20][21][22]. - **Structural Insights**: The use of acoustic televiewer (ATV) technology has revealed that the veins at Brimstone are not associated with previously assumed structures, suggesting a more complex geological framework [11][12][13]. Future Exploration and Development - **Metallurgical Challenges**: The company is currently working on metallurgical programs to understand the extraction processes better, with results expected in the second half of 2025 [27][29]. - **Mining Timeline**: Current exploration results are not sufficient to initiate mining operations, as further understanding of the ore body and metallurgical characteristics is required [51][52]. - **Geophysical Methods**: Induced polarization (IP) and magnetic surveys are being employed to better target high-grade zones, with IP being the principal method for understanding subsurface mineralization [53][55]. Additional Insights - **Manganese Target**: The manganese target is still under investigation, with indications of anomalous manganese but no confirmed minable resource yet [71]. - **Gold Exploration**: The company is also exploring gold targets on the east side of the property, with initial drilling showing promising results but requiring deeper exploration [65][66][67]. - **Overall Potential**: The exploration program has revealed significant potential for further discoveries, particularly at Brimstone, which is seen as a paradigm shift in understanding the Hycroft deposit [77][78]. Conclusion - The briefing highlights the exciting developments at Hycroft Mining, particularly at the Brimstone target, with high-grade silver intercepts and a complex geological framework that opens up new opportunities for exploration and potential mining in the future [79][80].

More High-grade at BrimstoneHigh-grade Gold at Bay TargetHigh-grade Silver at Manganese TargetWINNEMUCCA, Nev., April 30, 2025 /PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq: HYMC) ("Hycroft" or "the Company") announces final drill results from its 2024 exploration program (the "Drill Program") at the Hycroft Mine, located in Nevada, a Tier-1 mining jurisdiction.  See Table 1 below for full drill results.WebinarFor additional context on this news release, join President and CEO Diane R. Garrett ...

[Form 8-K Current Report](index=1&type=section&id=Form%208-K%20Current%20Report) This Current Report on Form 8-K by Hycroft Mining Holding Corporation outlines recent financial disclosures and registered securities - This Current Report on Form 8-K was filed by Hycroft Mining Holding Corporation on **March 5, 2025**[2](index=2&type=chunk) Registered Securities | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | :--- | :--- | :--- | | Class A common stock, par value $0.0001 per share | HYMC | The Nasdaq Stock Market LLC | | Warrants to purchase Common Stock | HYMCW | The Nasdaq Stock Market LLC | | Warrants to purchase Common Stock | HYMCL | The Nasdaq Stock Market LLC | [Item 2.02. Results of Operations and Financial Condition](index=2&type=section&id=Item%202.02.%20Results%20of%20Operations%20and%20Financial%20Condition) Hycroft Mining Holding Corporation announced its full-year 2024 financial results and Form 10-K filing via a press release, furnished for legal purposes - The company issued a press release on **March 5, 2025**, announcing its **full-year 2024 results** and the filing of its **Form 10-K** for the year ended December 31, 2024[5](index=5&type=chunk) - The press release containing the financial results is attached to this Current Report on Form 8-K as **Exhibit 99.1**[5](index=5&type=chunk) - The information in this section, including Exhibit 99.1, is **not considered "filed"** for the purposes of Section 18 of the Exchange Act, which limits certain legal liabilities[6](index=6&type=chunk) [Item 9.01 Financial Statements and Exhibits](index=2&type=section&id=Item%209.01%20Financial%20Statements%20and%20Exhibits) This section details the exhibits accompanying the Form 8-K, primarily the press release containing the company's financial results Exhibits Filed | Exhibit Number | Description | | :--- | :--- | | 99.1 | Press release issued by the registrant on March 5, 2025 | | 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

Core Insights - Hycroft Mining achieved significant milestones in 2024, including the best drill hole in its history, with an intercept of 21.2 meters at 2,359.68 g/t silver, surpassing previous records [1] - The exploration program expanded high-grade silver trends at Vortex and Brimstone, with numerous drill holes exceeding 1,000 g/t silver, fundamentally changing the perception of the Hycroft asset from low-grade to high-grade potential [2] - The company maintained a strong financial position, ending 2024 with $49.6 million in unrestricted cash after pre-paying $38.0 million of its first lien debt [4] Corporate Highlights - Hycroft was included in the Solactive Global Silver Miners Total Returns Index in May 2024, enhancing its visibility in the investment community [4] - The company reduced its debt burden by $101 million since the new management team was assembled in Fall 2020 [6] Operational Highlights - The company achieved over 1,500 days without a lost-time incident, earning the 2024 Operator Safety Award from the Nevada Mining Association [3] - The 2024 drilling program consisted of 9,058 meters, successfully extending high-grade mineralization and establishing vertical continuity within the Vortex zone [2][11] Financial Position - As of December 31, 2024, Hycroft reported total debt of $125 million, with ongoing efforts to explore strategic alternatives for restructuring its balance sheet [6][11] - The company is positioned to develop a smaller high-grade mining operation, which would require less initial capital and enhance early cash flows [2] Future Outlook - 2025 is anticipated to be a pivotal year for Hycroft, with plans to complete technical studies for the next phase of operations and refine drill targets [5] - Less than 10% of the company's 64,000-acre property has been explored, indicating substantial exploration potential [5][10]