Hycroft Files Second Quarter 2025 10-Q and Provides Corporate Update

Core Insights - Hycroft Mining Holding Corporation reported significant advancements in its operations during the second quarter of 2025, focusing on technical studies and exploration drilling to leverage opportunities identified in 2024 [2][5]. Corporate Highlights - The company completed a public offering of Units, raising $40.7 million in cash in June 2025, with total proceeds increasing to approximately $45.0 million after the exercise of the over-allotment option in July 2025 [5]. - Eric Sprott's 2176423 Ontario Ltd. increased its ownership in the company from 7% to 22%, and around 15 new institutions joined the shareholder registry [5]. - The company ended the second quarter with unrestricted cash of $68.8 million, restricted cash of $30.0 million, and total debt of $131.0 million [6]. Operational Highlights - The 2025-2026 Exploration Drill Program will focus on expanding high-grade silver systems, with 14,500 meters of core drilling planned, alongside geophysics and geochemistry programs [5]. - Continued metallurgical and variability test work for pressure oxidation and roasting of sulfide concentrate is ongoing, with results expected mid-summer [5][7]. - The company is evaluating the potential to initiate a heap leach operation as an early-stage development ahead of the planned milling operation due to strong gold and silver prices [5]. Safety and Environmental Performance - Hycroft received the 2025 first place NVMA Operator Safety Award for small surface mines, maintaining a 0.00 TRIFR for over two and a half years [6]. - The company has an impeccable environmental record and has been recognized for successful reclamation efforts [6]. Exploration and Technical Studies - The company advanced its geologic model in the first half of 2025 by incorporating new silver systems and structural data, which will guide the next phase of drilling starting in August 2025 [6]. - Ongoing studies are focused on optimizing processing methods for a potential sulfide milling operation, with a technical study expected to be complete in the fourth quarter of 2025 [7].