Hycroft Mining Holding Corp (HYMC)

[NolsRgold]

Let me help both of you guys out.

We are entitled to buy 17.5% of equity above the adjusted equity value. Since there is anti dilution the amount of shares is moot for warrant holders- they will adjust the factor.

You can find the adjusted equity in the warrant agreement then dig through the quarterly reports and make your own assumptions to what the number is.

After that estimate the value of any sale and subtract the adjusted equity value. Once you estimate the value of any liquidity event subtract the adjusted equity value then divide by 5.7 (17.5%) to get the warrant holders slice of pie. Take that number divide by the amount of warrants initially issued -somewhere around 12.5 million and you get the value of the warrants minus time value.

For my math it works out to around .14 per warrant for every 10 million above the adjusted equity value. With the amount of leverage ten million is nothing. IMO the warrants will be worth either zero or a multiple of where it currently trades. Basically just a leveraged play on the price of gold/silver ozs in the ground.