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This is all because of Mudrick's Love with Buffington ..
I believe Buffington is one big con man and master of the art ...
That is exactly why we should not be owning this company .. or try to get out of this piece of shit. Or wait for this carp to loose additional 90% of its value, while Gold & Mining sector go to moon. That is the time we should buy this .. It will come sometime early next year.
Read below report:
https://finance.yahoo.com/news/hycroft-provides-business-2021-third-120500888.html
As a result of current and expected ongoing cost pressures for many of the reagents and consumables used at the Hycroft Mine, and the timeline for completing its updated technical studies in early 2022, effective immediately the Company is discontinuing pre-commercial scale mining at its run-of-mine ("ROM") operation.
Company is not producing since Bufington took over the CEO position.. Why to blame Hedge fund..
These stupid management should be thrown out...
Thy have to raise money from the market, it is no brainer Share will fall significantly below, here are the reason.
-- Delisting pressure below $1 .. it is coming very soon
-- They have to raise more fund
-- Tax Loss Sale
ANV Share holders have 17.5%, current HYMC share holder might be lucky to get similar percentage.
How many see HYMC to go below .25 cents by the time they get funding done ?
Hycroft has to start over .. the SPAC guys are all doomed ..
I am not sorting HYMC, but expecting HYMC to go below HYMCZ.
You are so right ...
These bunch of Excel and power point people ruling the companies .. have no clue about technology...
REAGAN you are so much right.. I think HYMC might go below quarter .. more like .15 cents ..
Huge tax loss sale is coming, that will move the stock to below $! and it will add additional listing pressure ..
Hycroft is a public company, they have shareholder and BOD. They will need shareholder approval prior to making any change to share structure.
BOD/Management will not make any change without brining them to court.
Other option we have is: If company is being acquired by other big company (percent of this happening is very low) and the purchasing company needs ANV issues to be resolved.
Thank you Nick for bringing this document out.
Page 2 is where I see clear violation, we should take help of Brian to bring Hycroft to Court.
Page 2:
* Actual number of shares outstanding upon dissolution: All Second lien Convertible Notes were converted to shares of common stock prior to dissolution.
ANV warrants has non-dilution factor based on court rule as of 2015. MUDS lawyers did not use non-dilution from the date it was issued. This is clear violation of law.
Jordan,
Only approach of waiting for SEC to take some action is possibly not wise for us, unless we have some insider connection with SEC to move our file through.
We certainly have to come up with Plan B and/or Plan C.
Any thoughts ?
Thanks,
Thank you Jordan for the update!
These management are literally making everyone's life miserable by not having proper discipline and Mining knowledge.
Hycroft has by far largest (when you combine gold and silver) open pit deposits ready to mine. It is possible to make money with the current grade (look at DRD Gold) with 343 years of mine life.
Plus Hycroft has very large land package, they can start drilling and put the resource out and increase the resource. It is no brainer that Hycroft's resource estimate will go much higher plus going dipper they are going to get higher grades (they have Epithermal system) than what they have lying on the ground. One 100 g/t gold zone will take Hycroft multibillion, Off course they must treat and recognize ANV shareholders.
Hycroft had drill result of 51.8 meter 2.47 g/t Gold, 25.5 g/t Silver ..
https://finance.yahoo.com/news/hycroft-drills-higher-grades-vortex-113500312.html
On top right corner you have a link to Hide Sticky, that should do the trick.
Can you see if you still see the Sticky ?
Sticky post can be posted by Moderator(s) and each Moderate can post one and only one sticky and these stickies can only be removed by the moderator who has posted the sticky.
Current Sticky post #11076 was posted by REAGAN, only REAGAN can remove this Sticky or may be some someone from InvesterHub might have more access to remove the sticky.
Nick has raised this issue earlier. If you feel this as annoyance, you may have to write to InvestorHub get attention on this subject.
As ANV Share Holders we have anti dilution in our favor since 2015.
By Mudrick's
-- Denial/ignorance of ANV shareholders during taking it public
-- Subsequently trying to add DEBT (post court order) into consideration to calculate Strike price
-- Publicly recognizing Anti-Dilution from a later date
All above are (I guess) rookie mistake by Mudrick & Co, which is why ANV share holders will rebound and will proof to be bigger than what was invested during entire SPAC drama.
Mudrick's main goal was to bring the company to operational and turn around and sell Hycroft, to bigger player like Barick/Newmont with 5 to 10x.
Without providing proper recognization to ANV shareholder Barick/Newmont or any other real company will not look at Hycroft for next ten years, let alone past 2022.
Plus additional capital necessary (500 million) - I believe this is a game being played by BOD to provide smooth transition of ANV share holders to Hycroft.
Z shares have anti dilution clause since 2015. Z share strike price was fixed by judge on the order, some one can put that order here, I can also find it and post it if you like. Based on what I remember Z had strike price was $8.40.
Mudrick did not know about Z warrants and did not recognize when they took HYMC to public through SPAC. It was recognized, given strike and anti-dilution since later part of 2020.
Current calculation what Mudrick has done around strike price (around 40$) is flawed, as he is taking Debt that was taken post 2015 to calculate strike price for Z shares. Strike price of Z shares should be close to below $8 or below.
Now consider additional 500 million equity dilution, on a conservative side it will be additional 250 million shares to be added to current 60 million shares.
Applying anti-dilution:
Pre equity sale: 60 Million holds 82.5% Z share has 17.5%
Post equity sale: 310 Million holds 82.5% and Z share hols 17.5%
To provide equal weight: Z shares will have to split into multiple shares and its strike will go down to proportion to HYMC dilution. Which will be around 1/sixth of current recalculated strike price.
True..
FYI: I am not Brian :- )
True.
Catch is..
HYMCZ per share ownership percentage of the company does not change by issuance of new shares by company.
HYMC per share ownership percentage of the company changes with amount of new shares issued by company.
Anti Dilution detail from Investopedia
https://www.investopedia.com/terms/a/anti-dilutionprovision.asp
Anti-Dilution for ANV Shareholders: Since 2015 (by court ruling) ANV Shareholders % ownership of the company will remain and cannot be change by Hycroft & its board. Which means current warrant holders (holding 12 + millions of warrants) will hold 17.5% of Hycroft. By multiplying or dividing the number of warrants does not change % ownership.
In other hand HYMC/HYMCW/HYMCL does not hold any anti-dilution, which means any further addition of shares to Hycroft (which is what is being done based on last quarterly release) will dilute % ownership of HYMC share holders.
Hycroft and its board has no right to issue HYMCZ warrants.
Hope this answers your question.
Thanks
HYMC has big volume with higher price.. Don't see any news yet..
Here is the basic requirement to file 13F
https://globaldisclosures.com/5-key-features-of-section-13f-reporting/
Institutional investment managers that use the United States mail in the course of their business and that exercise investment discretion over USD100 million or more in Section 13(f) securities must file a Form 13.
fintel is partial does not have all details big players.
fintel pulls data from SEC fillings, that may be where the gap is. I don't see anyone is obligated to file to SEC on HYMCZ as it has way out of money strike price.
Nick,
I am referring to
Dec 17 2020 one day spike with 3.37 Millions of volume
June 22nd (1.5 Million of volume) and 23rd (1.6 Million of volume)
which makes it about 6.5 plus millions of warrants. Plus they must be buying in other smaller volume days as well.
True Rich/Nick.. (Post 500 million dilution) I believe someone has quite a bit of HYMCZ shares who has more control than current HYMC/HYMCW/HYMCL (all Mudrick & Co shares) combination. This individual/group (who has majority of HYMCZ) will have say on how we can get our return on multi year ANV investment.
Nick, I have removed my sticky post. Sorry for the inconvenience.
I have a reason to hold HYMCZ warrants, I am holding these based on my personal due diligence (like any other investment) and understanding that I have Reward which is far greater than the Risk. I have put those reasoning in this board to share with our follow ANV Shareholders who are going through similar pain for many years.
Here is my reasoning why I am holding Hycroft ANV Warrants (as I have said earlier, I am not insider or have any clue, these are my logical hypothesis – may entirely come false)
1. HYMCZ Warrants has underlying assets that holds value fixed value of the company based on court order (it is precisely 17.5%) and the strike price of these warrants are fixed from 2015 by the court. These are anti-dilution in nature.
2. Current market cap of Hycroft is close to 100 million (which was 100 million days back). They are trying to raise 500 million through equity. There is no way shape or form 500 million (in dollar terms) can be raised through open market. This cannot be unknown to the planner in first place. Which means there are other bigger players involved in this decision making, may be other companies to take it over.
3. This new 500 million additional investment will substantially reduce Mudrick’s and all other SPAC investors overall holding percentage. Mudrick will overnight become minority holder from a majority holder, not sure how and why he has voted to increase number of shares, may by without the approval, his investment would have gone totally under.
4. During the same time when Mudrick & Co becomes majority to minority shareholder, HYMCZ still holds 17.5% of the Hycroft, as it was the day Hycroft went public. Reason why HYMCZ has been strong last year, where are other instruments are weak precisely due to this fact.
5. I believe someone got hold of majority of the HYMCZ during those two days spike and subsequent market manipulation. They will be holding the bargain power on the Hycoroft management table and get fair share for rest of us.
6. I don’t believe HYMC is going to $.40, it will probably go up from here and some of the guys will bail out and most likely pricing will be greater than $2. Reason being, Hycroft already have revenue of $100 plus million and someone who is going to bring in 500 million, most likely have timeframe and resource to execute the project and make it profitable.
So many of ANV shareholders have contribution on raising and bringing these to the Court/media/SEC/Hycroft management. No one here doing any paid service which will be 100% perfect all that time that one can demand accountability. I am sure, you are wise enough to understand and not take any misleading suggestion and buy HYMCZ.
Question is, why are you holding HYMCZ (if any), what is your due diligence. If you see that Oct 2022 is coming faster than you can take and too risky for you. Please bail out, no one is forcing you to hold this piece of junk.
Thank you.. All of us here know about Oct 2022 deadline..
If you believe this is dead, please take your action .. Sell .. we are not advocating anyone to buy or keep the position.
Investment is super hard.
Investment into Gold Mining much harder..
Investment into Hycroft super harder.. (where crooks lead the company).
It is everyones individual decision to invest and take risk. I don't see any point on repeating Oct 2022..
HYMC is having big reversal with mega volume.. Z(ANV share) holders will have potential big % compare to HYMC, HYMCW and HYMCL combine..
These are the folks who invested into MUDS/HYMC during taking Hycroft public and subsequently secondary offering
Here is on the the litigation:
https://www.businesswire.com/news/home/20210803005995/en/ScottScott-Attorneys-at-Law-LLP-Investigates-Mudrick-Capital-Acquisition-Corporation%E2%80%99s-Directors-and-Officers-for-Breach-of-Fiduciary-Duties-%E2%80%93-MUDS-HYMC
IMO, taking Hycroft to public is one of the best event happened for ANV Shareholders.
All current Hycroft instruments initiated post SPAC HYMC, HYMCW, HYMCL holds: 82.7% stake
ANV Share holders: 17.5% stake
Post 500 Million $ dilution, with assumption of 400 millions of total shares (adding shares needed to accommodate HYMCZ shares)..
Current share holds will hold: % of 59,977,318 by 400,000,000 = 14.99%
ANV Shareholders will hold 17.5% of Hycroft.
This is why we see SPAC guys are crying out loud and suing the Company.
ANV Share holders having 17.5% of the Hycroft is not up to Hycroft current or future management, it was mandated by court with Anti-Dilution until Oct 2022.
The fund with majority of (Z) shares holds the key and major decision making to do during this transition of 500 Million $ additional investment.
Looks like this Dilution game is being played to eliminate Mudrick & Co out of Hycroft.
Post 500 Million Dollar Dilution, here is how control will switch from Mudrick & Co control board to this new entity (who puts 500 million $ of equity).
Current shares: 59.9 Millions
Mudrick & Co: 37.7 Millions
Mudrick: 63% of Hycroft
ANV Shareholder: 17.5% of Hycroft
Post 500 Million dollar equity sale, let us assume we will get to 400 millions total shares (this is in low side)
Mudrick will become: 9.43% of Hycroft
ANV Shareholder will still have: 17.5% of Hycroft
ANV share holder will become close to double the stake of Mudrick & Co.
Someone who is buying and got majority of HYMCZ holds the key to this bargain.
Mine are just hypothesis based on amount of dilution they re doing.. These are well crafted and planned well ahead of time. It is impossible to sell the stocks on open market after doing announcement publicly. We have no idea until it is all done and signed.. Let us wait and see ...
Certainly Hycroft is a cursed investment.. It is in one of the greatest jurisdiction and have huge pile of deposit. It is just going south with so many ill minded people involved in this company.
I also see that Randy is going GAGA on Low Cost Sulphide operation with Chesapeake Gold Corp, which means either
-- He is genius & can fool anyone anytime. OR
-- Technology Works - Not sure how can be use the same technology outside of Hycroft (there was no IP agreement signed between Hycroft & Mr Buffington)
https://www.bloomberg.com/press-releases/2020-12-10/chesapeake-gold-announces-acquisition-of-alderley-gold-corp-creating-a-platform-for-future-growth-and-mining-innovation-alan