Financial Performance - Net loss for the six months ended June 30, 2024, was $33,930,000, compared to a net loss of $27,798,000 for the same period in 2023, representing an increase in losses of about 22%[15] - The company reported a loss from operations of $14,281,000 for the three months ended June 30, 2024, compared to a loss of $11,567,000 for the same period in 2023, indicating a worsening of approximately 23%[15] - Basic loss per share for the six months ended June 30, 2024, was $1.55, compared to $1.39 for the same period in 2023, an increase of approximately 11%[15] - The Company reported a net loss of $20.7 million for the three months ended March 31, 2024, and a net loss of $13.2 million for the three months ended June 30, 2024[18] - The Company reported a net loss of $13,180,000 for the three months ended June 30, 2024, compared to a net loss of $13,889,000 for the same period in 2023, indicating a decrease in losses of approximately 5.1%[70] - For the six months ended June 30, 2024, the net loss was $33,930,000, compared to $27,798,000 for the same period in 2023, representing an increase in losses of approximately 22.1%[70] Assets and Liabilities - Total assets decreased from $201,693,000 in December 2023 to $155,459,000 in June 2024, a decline of approximately 23%[13] - Total liabilities decreased from $189,037,000 in December 2023 to $165,190,000 in June 2024, a decline of about 13%[13] - As of June 30, 2024, the total stockholders' equity was $37.6 million, down from $63.3 million at the beginning of 2023, primarily due to net losses[18] - The total balance of other liabilities decreased to $1.459 million as of June 30, 2024, from $3.063 million as of December 31, 2023[53] - The Company’s total liabilities decreased to $165.190 million as of June 30, 2024, from $189.037 million as of December 31, 2023[13] Cash Flow and Cash Position - Cash and cash equivalents decreased from $106,210,000 at the end of 2023 to $58,548,000 by June 30, 2024, a reduction of approximately 45%[13] - Cash flows used in operating activities for the six months ended June 30, 2024, were $20,331,000, compared to $22,434,000 for the same period in 2023, showing a decrease of about 9%[17] - As of June 30, 2024, the company had cash, cash equivalents, and restricted cash totaling $85,483,000, down from $151,746,000 at the end of the same period in 2023, a decrease of 43.5%[17] - Cash interest paid for the six months ended June 30, 2024, was $941,000, a decrease from $3.023 million in the same period of 2023[79] Operating Expenses - Operating expenses for the three months ended June 30, 2024, totaled $13,418,000, compared to $12,632,000 for the same period in 2023, reflecting an increase of about 6%[15] - Operating costs for the three months ended June 30, 2024, were $14,281,000, compared to $11,567,000 for the same period in 2023, indicating an increase of 23.5%[73] - Operating expenses for the six months ended June 30, 2024, totaled $27,510,000, an increase of 19.5% compared to $23,100,000 for the same period in 2023[15] Stock and Equity - The company issued common stock, generating proceeds of $10,053,000 during the six months ended June 30, 2024[17] - The company sold 2,474,859 shares of common stock during the three months ended June 30, 2024, generating gross proceeds of $9.2 million[23] - The Company sold 2,992,547 shares of common stock for gross proceeds of $10.4 million during the six months ended June 30, 2024, with $100.0 million available for issuance under the New ATM Program as of June 30, 2024[62] - The stockholders approved an amendment to the HYMC 2020 Performance and Incentive Pay Plan, increasing the number of authorized shares by 900,000 to a total of 2,350,800 shares[65] Debt and Interest - The company reported a non-cash interest expense of $12,396,000 for the six months ended June 30, 2024, compared to $6,000,000 for the same period in 2023, indicating a significant increase[17] - The Company voluntarily prepaid $34.7 million of its first lien loan on January 5, 2024, reducing the outstanding balance to $15.0 million[45] - Total debt, net as of June 30, 2024, was $119.3 million, a decrease from $142.6 million as of December 31, 2023[48] - The Company’s interest expense for the six months ended June 30, 2024, was $13,338,000, an increase of 47.8% compared to $9,023,000 for the same period in 2023[15] - Total interest expense for the three months ended June 30, 2024, was $3.218 million, a decrease from $4.587 million in the same period of 2023, while for the six months ended June 30, 2024, it increased to $13.338 million from $9.023 million in 2023[50] Asset Management - The total property, plant, and equipment, net was $51.96 million as of June 30, 2024, down from $53.09 million at the end of 2023[34] - The company maintained supplies inventories of $1.8 million as of June 30, 2024, consistent with the previous period[32] - As of June 30, 2024, assets held-for-sale included $7.1 million in unused equipment[40] - The Company recognized a change in asset retirement obligation (ARO) expense of $4.0 million year-to-date as of June 30, 2024, due to revised engineering design changes and project acceleration[55] Other Financial Metrics - The effective tax rate for the six months ended June 30, 2024, was Nil, consistent with the previous year, primarily due to changes in the valuation allowance for deferred tax assets[68] - The fair value of the Company's debt instruments was $113.3 million as of June 30, 2024, down from $149.2 million as of December 31, 2023, reflecting a decrease of approximately 24%[78] - The estimated net present value of the Sprott Royalty Agreement was $146.7 million as of June 30, 2024, using a discount rate of 5.0%[87] - The Company received cash consideration of $30.0 million under the Sprott Royalty Agreement, granting a perpetual royalty of 1.5% on net smelter returns from the Hycroft Mine[86]

Financial Performance - The company reported a net loss of $20.7 million for the three months ended March 31, 2024, compared to a net loss of $13.9 million for the same period in 2023, indicating a year-over-year increase in losses of approximately 49.5%[15]. - The company reported a net loss of $20.749 million for the three months ended March 31, 2024, compared to a net loss of $13.909 million for the same period in 2023, representing a 49% increase in net loss year-over-year[78]. - The company reported a basic loss per share of $1.00 for the three months ended March 31, 2024, compared to a loss per share of $0.69 for the same period in 2023[15]. - Basic and diluted loss per share for the three months ended March 31, 2024, was $1.00, compared to $0.69 for the same period in 2023, indicating a 45% increase in loss per share[73]. - Operating expenses for the three months ended March 31, 2024, totaled $12.2 million, compared to $10.5 million for the same period in 2023, reflecting an increase of approximately 16.2%[15]. - Operating costs for the Hycroft Mine were $10.326 million in Q1 2024, up from $8.194 million in Q1 2023, indicating a 26% increase[78]. - The Company incurred a loss from operations of $13.239 million in Q1 2024, compared to a loss of $11.533 million in Q1 2023, marking a 15% increase[78]. Assets and Liabilities - As of March 31, 2024, total assets decreased to $152.6 million from $201.7 million as of December 31, 2023, representing a decline of approximately 24.3%[13]. - Total liabilities decreased to $158.8 million as of March 31, 2024, from $189.0 million as of December 31, 2023, a decline of about 15.9%[13]. - The company’s accumulated deficit increased to $745.9 million as of March 31, 2024, from $725.2 million at the end of 2023, an increase of approximately 2.5%[19]. - The company’s stockholders' equity showed a deficit of $6.3 million as of March 31, 2024, compared to equity of $12.7 million at the end of 2023[13]. - The fair value of the company's debt instruments was estimated at $101.7 million as of March 31, 2024, down from $149.2 million as of December 31, 2023[83]. - The Company’s total debt, net, was $116.4 million as of March 31, 2024, down from $142.6 million as of December 31, 2023, indicating a reduction of 18.4%[49]. Cash Flow and Financing - Cash and cash equivalents decreased to $57.6 million as of March 31, 2024, down from $106.2 million at the end of 2023, a reduction of about 45.8%[13]. - Cash flows used in operating activities amounted to $11.7 million for the three months ended March 31, 2024, compared to $8.8 million for the same period in 2023, indicating an increase of approximately 32.8%[17]. - The Company raised a total of $138.6 million from the sale of 89,553,584 shares under its ATM Program, with approximately $361.4 million remaining available for future issuance[61]. - The company sold 517,688 shares of common stock during the three months ended March 31, 2024, generating gross proceeds of $1.2 million[24]. - The company sold an additional 1,691,055 shares of common stock for gross proceeds of $6.4 million through the ATM Program since the end of Q1 2024[98]. - The Company had $14.8 million available for issuance under the ATM Program as of March 31, 2024, with net proceeds expected to be used for general corporate purposes[65]. Interest and Debt Management - Interest expense for the three months ended March 31, 2024, totaled $10.119 million, significantly higher than $4.436 million for the same period in 2023, indicating a 128.3% increase[52]. - The effective interest rate for the Sprott Credit Agreement was 18.1% as of March 31, 2024, including amortization[52]. - The Company voluntarily prepaid $34.7 million of its first lien loan on January 5, 2024, reducing the outstanding balance to $15.0 million[46]. - Cash interest paid decreased significantly from $1.473 million in Q1 2023 to $502,000 in Q1 2024, a reduction of approximately 66%[84]. - The Company incurred an increase in debt from in-kind interest amounting to $2,541,000 for the three months ended March 31, 2024[84]. Operational Focus and Developments - The company is focusing on exploration drilling and technical studies to optimize processing methods for sulfide ores and recovering gold and silver[23]. - The Company recognized $1.4 million as other income in Q1 2024 due to the termination of a portion of an Equipment Purchase Agreement[42]. - The Company recorded other income of $1.309 million in Q1 2024, primarily from a non-refundable deposit, compared to no other income reported in Q1 2023[80]. - The Company recognized a change in estimate for asset retirement obligations, resulting in an expense of $2.0 million due to revised engineering design requirements and a change in work timing[56]. Compliance and Regulatory - The Company was in compliance with all financial covenants under its debt agreements as of March 31, 2024[48]. - The company incurred no net income tax expense for the three months ended March 31, 2024, maintaining an effective tax rate of Nil[72]. - The company’s public float exceeded $75.0 million on April 11, 2024, allowing it to sell more shares without the limitations of the baby shelf rule[66].

Mining Operations - The company generated no revenues during the year ended December 31, 2023, due to the cessation of active mining operations[20] - The company ceased mining activities in November 2021 and completed processing of gold and silver ore from leach pads as of December 31, 2022[18] - The company completed processing of gold and silver ore previously placed on leach pads as of December 31, 2022, and does not expect to generate revenues from gold and silver sales until further developing the Hycroft Mine[18][22] Mineral Resources - As of December 31, 2023, the Hycroft Mine had measured and indicated mineral resources of 10.6 million ounces of gold and 360.7 million ounces of silver, with inferred mineral resources of 3.4 million ounces of gold and 96.1 million ounces of silver[18] - The 2023 Hycroft Technical Report Summary supersedes the previous report and includes updated exploration drilling results and mineral resource estimates[17] Production Statistics - Gold production from mines increased by 0.9% in 2023 compared to 2022, totaling approximately 3,644 metric tons, representing about 74.4% of the global gold supply[24] - Silver production from mines increased by approximately 2% in 2023 compared to 2022, totaling approximately 842 million troy ounces, representing about 82% of the global silver supply[25] Demand and Pricing - Gold demand in 2023 was approximately 4,448 metric tons, totaling about $277.5 billion in value, with jewelry accounting for 49% of the demand[24] - Silver demand in 2023 was approximately 1,167 million troy ounces, totaling about $24.9 billion in value, with investments comprising 26% of the demand[25] - The average afternoon fix price for gold in 2023 was $1,944 per ounce, while for silver it was $23.33 per ounce[27] - The average price of gold in 2023 was $1,944 per ounce, with a high of $2,150 and a low of $1,907[27] - The average price of silver in 2023 was $23.33 per ounce, with a high of $24.43 and a low of $22.00[27] Employee and Safety Metrics - As of December 31, 2023, the company had 78 employees, with 69 employed at the Hycroft Mine[32] - The company achieved one million workhours without a lost time incident in Q2 2023, maintaining a total recordable injury frequency rate (TRIFR) of Nil (0.00) as of December 31, 2023[34] - The total recordable injury frequency rate (TRIFR) for the trailing 12 months was 0.00, indicating no lost time incidents during the year ended December 31, 2023[34] - The company has mandatory mine safety and health programs in place, including employee and contractor training, risk management, and emergency response[44] Environmental Compliance and Reclamation - The company remains in compliance with applicable mining, health, safety, and environmental statutes and regulations at both state and federal levels[35] - There were no known material environmental incidents during 2023 and 2022, and the company did not incur material capital expenditures for environmental control facilities during these years[39] - The company has not incurred material capital expenditures for environmental control facilities during 2023 and 2022, and does not expect to incur any material expenditures in 2024[39] - The company received a notice of non-compliance from the Nevada Division of Environmental Protection regarding a historical reclamation matter, prompting accelerated reclamation activities[39] - The company expects to continue reclamation activities on its Crofoot leach pad in 2024 and plans to treat and manage solutions in certain ponds from 2024 through 2026[40] - The company’s reclamation obligations are secured by surety bonds that meet the financial assurance requirements of the State of Nevada and the Bureau of Land Management[40] Regulatory and Operational Challenges - The company is subject to various federal and state laws and regulations that could require additional capital expenditures and increase operating costs, potentially impacting profitability[36] - The company relies on numerous governmental permits that are difficult to obtain, which may affect its ability to conduct operations[42] - The company’s operations are regulated by the Mine Safety and Health Administration, which conducts regular inspections and issues citations for violations[45] - The company’s mineral interests in Nevada may be owned by the United States, the State of Nevada, or private parties, requiring various property acquisition agreements[46] - The company has engaged third-party qualified persons to review and approve scientific and technical information concerning its mineral projects[47]

Financial Performance - Revenues for the three months ended September 30, 2023, were $0, compared to $8,758,000 for the same period in 2022, indicating a 100% decrease[16] - Net loss for the nine months ended September 30, 2023, was $43,510,000, a slight improvement from a net loss of $46,891,000 for the same period in 2022[19] - The company reported a net loss of $13,909,000 for the quarter ended March 31, 2023, and a net loss of $13,889,000 for the quarter ended June 30, 2023[22] - The net loss for the three months ended September 30, 2023, was $15,712,000, compared to a net loss of $15,849,000 for the same period in 2022[86] - The net loss for the nine months ended September 30, 2023, was $43,510, compared to a net loss of $46,891 for the same period in 2022, indicating a slight improvement[89] Assets and Liabilities - Total assets decreased from $248,954,000 on December 31, 2022, to $211,813,000 on September 30, 2023, representing a decline of approximately 14.9%[14] - Total liabilities increased from $185,648,000 on December 31, 2022, to $189,234,000 on September 30, 2023, reflecting a rise of about 1.0%[14] - The total stockholders' equity decreased from $63,306,000 on December 31, 2022, to $22,579,000 on September 30, 2023, a decline of approximately 64.3%[14] - As of September 30, 2023, the total stockholders' equity was $22.579 million, a decrease from $76.115 million at the same time in 2022[22] - Total debt, net, increased to $142.4 million as of September 30, 2023, compared to $132.7 million at the end of 2022[60] Cash Flow and Expenses - Cash and cash equivalents decreased from $141,984,000 on December 31, 2022, to $106,911,000 on September 30, 2023, a reduction of approximately 24.8%[14] - Cash flows used in operating activities for the nine months ended September 30, 2023, were $31,931,000, compared to $24,363,000 for the same period in 2022, representing an increase of approximately 31.2%[19] - Operating expenses for the three months ended September 30, 2023, were $13,571,000, compared to $12,624,000 for the same period in 2022, showing an increase of approximately 7.5%[16] - The company incurred cash interest paid of $4,625,000 for the nine months ended September 30, 2023, compared to $3,858,000 for the same period in 2022[94] - The Company incurred interest expense of $4.7 million for the three months ended September 30, 2023, compared to $4.5 million for the same period in 2022, reflecting an increase of approximately 5%[16] Stock and Equity - The total shares of common stock outstanding increased from 200,270,659 on January 1, 2023, to 202,132,839 on September 30, 2023[22] - The Company has 967,091 outstanding 5-Year Private Warrants with an exercise price of $11.50, expiring on May 29, 2025[68] - The total number of outstanding equity classified warrants increased to 89,722,621 as of September 30, 2023, from 81,563,197 at the end of 2022[75] - The Company issued 46,816,480 Private Placement Offering Warrants at an exercise price of $1.068, generating gross proceeds of approximately $55.9 million[71] - The Company has approximately $361.4 million of shares of common stock remaining available for future issuance under the At-the-Market Program[74] Operational Status - The company has not generated revenues or incurred costs of sales during the three and nine months ended September 30, 2023, due to the cessation of mining operations in November 2021[29] - The company completed and filed the 2023 Hycroft Property Initial Assessment Technical Report Summary in March 2023, which included a mineral resource estimate[26] - The company continues to explore higher-grade opportunities identified during 2021 exploration drilling[27] - The Company has been focusing on exploring and developing the Hycroft Mine, with a recent technical report filed in March 2023 that included a mineral resource estimate[26] - The Company plans to continue its exploration efforts, focusing on higher-grade opportunities identified during previous drilling[27] Compliance and Regulations - The Company was in compliance with all financial covenants under its debt agreements as of September 30, 2023[57] - The Company adopted new accounting standards effective January 1, 2023, with no material impact on its financial statements[33] - The Company adopted ASU 2019-04 effective January 1, 2023, with no impact on its financial statements due to the collection of all outstanding accounts receivable[34] - The Company plans to evaluate the impact of adopting ASU 2022-03, effective after December 15, 2023, on its financial statements and related disclosures[36] - The company incurred no net income tax expense for the three and nine months ended September 30, 2023 and 2022, resulting in an effective tax rate of Nil[85]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-38387 HYCROFT MINING HOLDING CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-38387 HYCROFT MINING HOLDING CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorp ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-38387 HYCROFT MINING HOLDING CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporati ...