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You did not really answer my question Sir? What is your explanation on the Volume today? I see a lot of institutional Buyers here - Are these Warrants truly worthless as moderator Fred and our friend in Scotland have been telling us?
https://fintel.io/so/us/hymcz
Volume is up HYCT INVESTOR - What is going on Sir?
LOL - Yes Maybe.
They... are the new intelligentsia.
it is certainly not Mudrick and Company.
Corporate update Feb 2022 no mention of the Z-Warrants.
http://archive.fast-edgar.com/20220204/A6ZJN22CG222J2Z2222J22ZJSFUMZ22I9242/
Good Brief - Thanks Brian Please Take them to court.
Send Mr. Sprott your calculations that way he knows what to do once he takes over - The enterprise value I see here on my schwab.com is 165 million so we have 17.5% of that? or the Market Cap of 25.4 million? Thanks and I will text you tonight my friend.
We will have 17.5% of the .4034 cents.
Goldman Sachs is buying them. https://fintel.io/so/us/hymcz
HYMC .40 cents why won't anyone do a hostile takeover?
You think Fred - Zero as in a Big Fat Zero?
Thanks for your private message, however I am not a member so I cannot reply back. GET SPG? is that what you were referring to?
https://sprott.com/investor-relations/board-of-directors/
Sprott's Board of Directors.
https://fintel.io/so/us/hymcz
More HYMCZ Buyers - Sprott Owns some too 36K - Countdown until he takes over.
From Cal Implosion Yahoo board conversation on HYMC
@russ Yes, if they went BK today company would owe approximately $125M to creditor Sprott (debt minus cash on hand). What is the asset worth? A lot more than that in the right hands. The way a liquidation works is the bankruptcy court will allow "stalking horse" bidders. Sprott is only entitled to the debt he is owed. If a stalking horse bids say, $250M, the difference $250M - $125M (extra $125M) goes to the shareholders.
Corvus gold in a different part of Nevada has a similar ore grade, refractory, and they were even interested in this "new oxidation process". The problem is the elements needed skyrocketed in like other commodities making it "infeasible". Traditional ACID pox mining is better at these prices anyway, and the ore grades are higher in some instances as well.
AngloGold Ashanti owned about 20% of Corvus gold, they decided to buy the rest at $380M this summer. The amount of gold/silver ore is a fraction of Hycroft. They have nothing built out, Hycroft has hundreds of millions of infrastructure already built out.
"Sophisticated" investors who bought into SPAC before launch were apparently valuing the company at $500M ie $10/share X's roughly 50M shares (Think they issued more shares to increase to 60M, and warrants, within a year of going public to dilute). That was when PM prices were significantly lower pre covid.
Mudrick's team blew through a ton of money with their bogus "novel process". Now the valuation is $30M, roughly what they have in cash. You take the $158M - $30M cash on hand and liquidation value at about $125M now.
If you believe in their last feasibility report this is a $2B asset, and that was before the spike in PMs. The new study supposedly coming out this quarter should shed more light.
Sprott was probably shorting the stock because he owns the debt. Sprott is the only real hope here though because he is the only one who knows what he is doing amongst this group of hedge funds.
You simply cannot value this company because Mudrick will dilute further it's simply what he does as a distressed debt investor. The asset is great but the puppet master behind the asset wants to trade against you not build shareholder value.
That's why Sprott is having to get involved at this point. Mudrick has failed at so many ventures now his reputation is toast. Our share price reflects Mudrick's 40% ownership, nobody trusts him or wants to do business with him. The other hedge funds don't help either, they bring negative value as they too want to trade against you not build shareholder value.
That is why they have their poison pills, they don't want a major miner to take a stake and help develop the asset. So nobody will touch it except retail who they will trade against.
Is this asset worth more than current liquidation value? Almost certainly. But in the hands of Mudrick + 3 other hedge funds that control 80%, the value is worth 49 cents. Partially because that's the way they want it, they don't want real investors they want to trade against retail. They are lending out shares at 16-18% making money. They don't care about the low share price as much.
Sprott now realizes he's in bed with a bunch of hedge funds that know absolutely nothing about mining. He needs Garrett for the moment. Nevada Gold Mines (Newmont + Barrick assets in Nevada) has the money and resources to build this mine out right. But that's not what Mudrick and the hedge funds want, they don't want a legitimate partner.
So price stays here or they take it even lower. This is not an investable asset given the current ownership structure. They will dilute you, they are the masters of figuring out how to dilute away instead of build shareholder value.
Sprott converting his debt to equity could turn this around and bring in new investment money. But why should he keep Mudrick & company as his hedge fund partners around? Because a stalking horse bid will most likely pay more for the company then debt he is owed, and he loses the asset and gets his cash. They all lose.
But don't underestimate their creativity in trying to dilute or take the mine in a different way. They are good at that, just not at actual operations. It's a problem with finance guys I've encountered during my career. Take operations for granted.
Cal Implosion2 days ago
According to latest 8-K Sprott has Mudrick by the balls. The mystery behind the Chairmans departing makes more sense now. Sprott is a sensible man got caught up with huckster specializing in distressed debt. Sprott will probably end up converting his debt into equity if his horse in the race, Dr. Garrett, can actually perform.
Travesty to see the layoffs and destruction of shareholder value. Agree with Mr. Sprott on Stanton Rideout he is an innocent vitcim in this Mudrick disaster. Garrett trusted Mudrick and his short selling buddies, and chairman's "novel process", and got burned badly. Perhaps she has now seen the light. Sprott holds all the cards, for now, as the mine is economically viable at these PM prices per traditional ACID pox mining in the region. But a BK means liquidation and Sprott knows he will also lose the mine to a stalking horse bid for only $158M.
Sprott is overall a positive for the stock as he is bullish on precious metals, its his primary business. Mudrick's primary business is fleecing retail investors and dealing with meme stocks. The more control Sprott has the better.
Garrett has a second life now but still should not be Chairwoman, and Sprott seems to agree. She oversaw the complete destruction of shareholder value in just one year. She did nothing and said nothing to stop the stock slide.
Hopefully Sprott keeps a short leash on Garrett and ends up finding someone better.
Not sure Mudrick can ever recover from all of these body blows, nobody trusts him or his minions. HYMC stock price is now barometer for Mudrick Capital and stock is at 49 cents.
Good luck Dr. Garrett at least you have a believer in Sprott. Maybe you can prove me wrong too. You lost your fire and sullied your reputation.
Yeah, I am the new CEO of Hycroft.
I agree!
Explanation of Responses:
1. This statement is being filed by the following Reporting Persons: Mudrick Capital Management, L.P. ("Mudrick Capital"); Mudrick Capital Management, LLC ("Mudrick Capital GP"); Jason Mudrick; Mudrick Distressed Senior Secured Fund Global, L.P. ("Mudrick Senior Secured Fund"); and Mudrick Senior Secured Fund GP, LLC ("Mudrick Senior Secured Fund GP").
2. Sold by Mudrick Senior Secured Fund.
3. The price represents the weighted average price of the shares sold. The shares were sold within a range of $0.62 to $0.66, inclusive. The Reporting Persons undertake to provide, upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each separate price within the range.
4. Represents 24,394,846 shares of Class A Common Stock directly held as follows: 22,473 by Mudrick Capital; 10,079,998 by Mudrick Distressed Opportunity Fund Global, L.P. ("Mudrick Opportunity Fund"); 2,594,137 by Mudrick Distressed Opportunity Drawdown Fund, L.P. ("Mudrick Drawdown Fund"); 2,156,395 by Mudrick Distressed Opportunity Drawdown Fund II, L.P. ("Mudrick Drawdown Fund II"); 622,249 by Mudrick Distressed Opportunity Drawdown Fund II SC, L.P. ("Mudrick Drawdown Fund II SC"); 0 by Mudrick Distressed Senior Secured Fund; and 8,919,594 by certain accounts managed by Mudrick Capital (the "Managed Accounts").
5. These warrants expire May 29, 2025 or earlier upon their redemption or the liquidation by the Issuer. These warrants to buy shares of Class A Common Stock may be redeemed, at a price of $0.01 per warrant, if the last sale price of the Class A Common Stock equals or exceeds $18.00 per share for any 20 trading days within a 30 trading day period ending on the third business day before the notice of redemption is sent to the warrant holders; however, for so long as the Sponsor (or a permitted transferee under the applicable warrant agreement) continues to hold the warrants, the warrants may not be redeemed.
6. The price represents the weighted average price of the warrants sold. The warrants were sold within a range of $0.05 to $0.06, inclusive. The Reporting Persons undertake to provide, upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of warrants sold at each separate price within the range.
7. Represents warrants to purchase shares of Class A Common Stock directly held as follows: 3,960,148 by Mudrick Opportunity Fund; 1,530,893 by Mudrick Drawdown Fund; 0 by Mudrick Senior Secured Fund; 213,920 by Mudrick Drawdown Fund II; and 4,381,346 by the Managed Accounts.
8. Mudrick Capital is the investment manager of each of the Mudrick Funds, and has voting and investment discretion with respect to the securities held by the Mudrick Funds. Jason Mudrick is the sole member of each of Mudrick Capital GP, the general partner of Mudrick Capital, Mudrick Distressed Opportunity Drawdown Fund GP, LLC ("Mudrick Drawdown Fund GP"), the general partner of Mudrick Drawdown Fund, Mudrick Distressed Opportunity Drawdown Fund II GP, LLC ("Mudrick Drawdown Fund II GP"), the general partner of Mudrick Drawdown Fund II, and Mudrick Drawdown Fund II SC, Mudrick Senior Secured Fund GP, the general partner of Mudrick Senior Secured Fund, and Mudrick GP, the general partner of Mudrick Opportunity Fund.
9. Mudrick Capital, Mudrick Capital GP and Jason Mudrick may be deemed to have beneficial ownership of the equity securities of the Issuer the Mudrick Funds, Mudrick Drawdown Fund GP may be deemed to have beneficial ownership of the securities owned by Mudrick Drawdown Fund, Mudrick Drawdown Fund II GP may be deemed to have beneficial ownership of the securities owned by Mudrick Drawdown Fund II, Mudrick Senior Secured Fund GP may be deemed to beneficially own the securities owned by Mudrick Senior Secured Fund, and Mudrick GP may be deemed to beneficially own the securities owned by Mudrick Opportunity Fund.
10. The Reporting Persons disclaim any beneficial ownership of the reported securities other than to the extent of any pecuniary interest they may have therein, directly or indirectly. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), this filing shall not be deemed an admission that the Reporting Persons are, for purposes of Section 16 of the Exchange Act or otherwise, the beneficial owners of any equity securities of the Issuer in excess of their respective pecuniary interests.
Remarks:
Exhibit 99.1 (Joint Filer Information) incorporated herein by reference.
http://archive.fast-edgar.com/20220104/ACB2M22C8222T2Z2222322ZZ3TEN72U2D242/
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On December 29, 2021, Hycroft Mining Holding Corporation (the “Company”) received a written notice (the “Bid Price Notice”) from the Listing Qualifications department (the “Nasdaq Staff”) of The Nasdaq Stock Market (“Nasdaq”) indicating that the Company is not in compliance with the $1.00 Minimum Bid Price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market. The notification of noncompliance has no immediate effect on the listing or trading of the Company’s common stock on The Nasdaq Capital Market under the symbol “HYMC,” and the Company is currently monitoring the closing bid price of its common stock and evaluating its alternatives, if appropriate, to resolve the deficiency and regain compliance with this rule.
The Nasdaq Listing Rules require listed securities to maintain a minimum bid price of $1.00 per share and, based upon the closing bid price for the last 30 consecutive business days, the Company no longer meets this requirement. The Bid Price Notice indicated that the Company will be provided 180 calendar days, or until June 27, 2022, in which to regain compliance. If at any time during this period the bid price of the Company’s common stock closes at or above $1.00 per share for a minimum of ten consecutive business days, the Nasdaq Staff will provide the Company with a written confirmation of compliance and the matter will be closed.
Alternatively, if the Company fails to regain compliance with Rule 5550(a)(2) prior to the expiration of the 180 calendar day period, but meets the continued listing requirement for market value of publicly held shares and all of the other applicable standards for initial listing on The Nasdaq Capital Market, with the exception of the minimum bid price, and provides written notice of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary, then the Company may be granted an additional 180 calendar days to regain compliance with Rule 5550(a)(2).
There can be no assurance that the Company will be able to regain compliance with the Bid Price requirement, even if it maintains compliance with the other listing requirements. The Company is considering actions that it may take in response to the Bid Price Notice in order to regain compliance with the continued listing requirements, but no decisions regarding a response have been made at this time.
http://archive.fast-edgar.com/20211230/A6Z2O22CG222J2Z2222J2CZL3DWM222I9232/hymc-20211229.htm
I noticed Sprott of all People took in a position. I thought he was a Conservative Investor, so you are saying that it will catapult to over $3.00 if they get a $250m buyer?
https://fintel.io/so/us/hymcz
Detail on 13F filings are free. Green rows indicate new positions. Red rows indicate closed positions. Click the link icon to see the full transaction history.
Keep telling yourself that Fred....
Will go lower!!! LOL
Hycroft Mining Has A Lot Of Gold But There Are Many Red Flags
Jul. 07, 2021 5:54 AM ETHycroft Mining Holding Corporation (HYMC)21 Comments4 Likes
Summary
The company’s flagship project has reserves of 11.9 million ounces of gold and 478.5 million ounces of silver.
The after-tax net present value is $2.1 billion at $1,300 per ounce of gold and more than $4 billion at today’s gold prices.
However, the grades are very low and most of the remaining material is sulfide, which could lead to a lot of technical issues.
Hycroft Mining also had a $116.8 million net debt as of March 2021 and the red flags seem too many.
I think that the company is heading to a funding shortfall, which likely means stock dilution. I’m bearish.
Gold Bars Sitting on Blue Bar Graph - Stock Market and Finance Concept
MicroStockHub/iStock via Getty Images
Investment thesis
Hycroft Mining (NASDAQ:HYMC) owns a gold and silver project under the same name in the U.S. state of Nevada. At the moment, its reserves stand at 11.9 million ounces of gold and 478.5 million ounces of silver, making it one of the best gold-silver projects in a Tier 1 jurisdiction in the world. Yet, the market values Hycroft at less than 0.1x the project’s after-tax net present value (NPV) and there are several reasons for this. The grades are low and almost all of the material is sulfide, which means that designing a good flow sheet could be tricky and recovery rates could be an issue. It’s an old mine that has been shut down several times in the past and I think the risk is just too high. Best to avoid or sell this one.
Overview of the Hycroft deposit
The project is located near the Florida Canyon gold mine of Argonaut Gold (OTCPK:ARNGF) and started out in 1983 as a small heap leach operation known as the Lewis Mine (page 16 here).
(Source: Hycroft Mining)
The project has historical production of around 2.1 million ounces of gold and 7.5 million ounces of silver and was shut down several times over the years, usually due to low gold prices. The most active period was from 1983 to 1998, when the mine produced 1.2 million ounces of gold and 2.5 million ounces of silver.
According to a 2019 heap leaching feasibility study, there is still a lot of gold and silver left in the Hycroft deposit. Enough, in fact, to rank it among the best low-risk jurisdiction gold and silver deposits in the world in terms of reserves.
(Source: Hycroft Mining)
According to the feasibility study, the initial capital cost for a heap leach operation is estimated to be $230.8 million and the after-tax net present value of the project stands at $2.1 billion at a 5% discount rate. This is a compelling NPV number, especially considering that the study was based on gold prices of just $1,300 per ounce of gold.
The price of gold stands at over $1,800 per ounce as of the time of writing, which means that Hycroft’s NPV should be over $4 billion at the moment.
(Source: Hycroft Mining)
The mine life is expected to be over three decades and the strip ratio stands at just 1.17. Both of those are very good numbers for a gold mine.
(Source: Hycroft Mining)
However, you might’ve already started noticing some of the issues and red flags. The grades are very low and there is barely any oxide material.
(Source: Hycroft Mining)
Leaching gold and silver from oxides is relatively easy, but processing sulfidic ore is challenging. The latter is refractory, which means that the gold particles are ultra-fine and this requires more sophisticated treatment methods in order to achieve oxide-ore recovery rates. According to the feasibility study, Hycroft plans to add iron (as ferric chloride) to the oxidation solutions but even then, there are numerous challenges to achieve adequate gold recovery rates.
(Source: Hycroft Mining)
The company has ideas on how to deal with some of the technical challenges of this operation but I’m skeptical as these are technologies and methods that haven’t been proven on a commercial scale. There are a lot of things that can go wrong here.
(Source: Hycroft Mining)
Another red flag for me is that Hycroft Mining plans to use a significant part of the old mining infrastructure. Sure, such a move can significantly decrease CAPEX, but there are operational risks involved. The nearby Florida Canyon mine used the same approach when it was owned by a company named Rye Patch Gold (the company no longer exists, the SA profile is here). SA contributors including me were optimistic about the prospects of the latter, but some of the refurbished equipment kept breaking down or underdelivering and the project still hasn’t lived up to its potential. The point is that using old equipment is risky and can result in higher costs down the line. At the moment, Hycroft Mining has a mining fleet, a crushing circuit, and a North Merrill-Crowe plant. As you can see, not all of them seem to be in a good condition.
(Source: Hycroft Mining)
Looking at the financials, the picture doesn’t look good as the net debt stood at $116.8 million as of March 2021.
(Source: Hycroft Mining)
The company has decided to direct leach its run-of-mine ore, but this is proving to be unprofitable at the moment. In Q1 2021, Hycroft Mining booked a $14.8 million loss from operations.
(Source: Hycroft Mining)
Still, Hycroft Mining aims to develop a 3-5 year ROM plan to generate positive cash flows. It remains to be seen if this is possible.
Investor takeaway
The Hycroft gold and silver project looks great at first glance thanks to its high reserves and NPV. However, grades are low and most of there is almost no oxide material left to mine. Overall, I doubt that the Hycroft project will be able to reach commercial production without encountering significant technical or operational issues. This is set to lead to a funding shortfall for Hycroft Mining, which likely means stock dilution.
Hycroft Mining is pretty cheap compared to peers at the moment, but I think its valuation could fall lower due to the high debt load as well as the stock dilution risk. It’s possible this one is close to worthless.
(Source: Hycroft Mining)
According to Fintel, the short borrow fee rate stands at 16.37% as of the time of writing. This is relatively high.
In case you prefer to protect the downside, I think long-dated put options are a good idea.
(Source: Seeking Alpha)
Or you could just avoid this one.
This article was written by
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Gold Panda
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I have been investing in stocks for 13 years now, most of the time in my native Bulgaria. I have a bachelor's degree in Finance and a Master's degree in International Business and I like reading Pratchett and Michael Lewis. Regarding the opportunities that I cover, please take into account that I'm an admirer of legendary fund manager Peter Lynch so I tend to follow a lot of his investment philosophy. - Disclosure: I am not a financial adviser. All articles are my opinion - they are not suggestions to buy or sell any securities. Perform your own due diligence and consult a financial professional before trading.
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Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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Comments (21)
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nick1045us profile picture
I
ivnoh
15 Nov. 2021, 1:38 PM
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did they ever complete any of the engineering tasks that they listed out as items that they needed to complete in this article?
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onat profile picture
onat
14 Nov. 2021, 4:00 PM
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What do you think about price ~ 1 USD now?
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Gold Panda profile picture
Gold Panda
15 Nov. 2021, 4:19 AM
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@onat don't like it
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SilverisREALMoney profile picture
SilverisREALMoney
31 Oct. 2021, 3:27 PM
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At the time of this article's publication, I agreed that HYMC was a bad investment idea. Now that it's down another ~45% and trades for just $1.65, I think just the quantity of silver (700M ounces) and the tier one jurisdiction justify taking a small position in this company for the LT investor.
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Omer Altay profile picture
Omer Altay
31 Oct. 2021, 5:39 PM
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@SilverisREALMoney If all you're looking at is reserves/resources, you should save your money and stay away from investing in gold / silver mines. This is likely a zero.
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CashCollateral
20 Jul. 2021, 5:04 PM
Comments (56)
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How much does Mudrick own?
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CashCollateral
17 Nov. 2021, 3:08 PM
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@CashCollateral Mudrick is done here. Disaster. Worst stock I've ever bought.
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Omer Altay profile picture
Omer Altay
12 Jul. 2021, 5:36 AM
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Good article covering the basics here! I wrote about ANV many years ago when I was younger and naive about the industry. The NPV and HUGE resources fooled me when I was a novice. There's a lot more to a mining company than NPV as your article spelled out. The grades on the ore are tiny and the process to mine them hasn't been proven. HYMC is uninvestable unless you're intimately familiar with the technical challenges involved. Looks like no one is willing to fund these guys and the company will likely go bankrupt again.
Everyone in the industry knows about the Hycroft mine and its massive resources. None of the majors are interested in buying or financing it because they understand it may never be viable. Kind of reminds me of the Pebble Mine in Alaska owned by NAK. Huge resources but low grades and in the middle of nowhere with no infrastructure makes it totally uneconomical.
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Charlie's Munger profile picture
Charlie's Munger
12 Jul. 2021, 7:22 AM
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@Omer Altay and if asset is worthless so are stock and both warrants
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DanielTD
08 Jul. 2021, 10:07 AM
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Allied Nevada stuck a lot of money into this company prior to BK. Mudrick is a billionaire who most likely spent a lot of time analyzing this stock before owning 40% of the company. They now have a solid management team. After BK the company was owned by creditors that had little to no experience in mining they also had liquidity problems. Mudrick gave this company access to capital to grow. Do you think they got so involved with this company to lose?
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B
Bojou
08 Jul. 2021, 1:52 PM
Comments (262)
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@DanielTD this is what I thought when I bought at... 10, I ignored the warning about the untested process. Hopefully I finally took my losses at 4 to reinvest in FTCO.
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DanielTD
08 Jul. 2021, 2:13 PM
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@Bojou I brought in 3s and 2s. I think this has a lot of long term potential the stock has been beat like a dog the last year.
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Bojou
08 Jul. 2021, 3:12 PM
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@DanielTD Of course if one enters at a much lower level... why not, it's a gamble.
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T
tonyconnolly
07 Jul. 2021, 7:49 AM
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Think this used to be Allied Nevada…but then went bust? Run by a bunch of financiers and Mudrick Capital…absence of Miners and geologists on the board. High debt, low grade…but high resource. I don’t believe capex will be under 300m to get them into full scale production. Best hope for shareholders is a rising Gold price lifting them enough to make them a buyout candidate. Not one for me,t
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TheCompetentMan profile picture
TheCompetentMan
16 Sep. 2021, 6:30 PM
Comments (678)
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@tonyconnolly Yes, this was ANV, Allied Nevada Gold. It seemed that company even back then was 'cursed'. No matter what they did, they lost money. In the months leading up to their Chap 11 filing they tried to 'hang in', even sold more stock, but they were losing too much too fast so went Chap 11. Even in Chap 11 things did not go well. They had lots of ore in leach pads but as time went on discovered that was not going to recover the amounts they predicted and even in Chap 11 took another write down on work in process on the pads. The common shares did not get wiped out totally, they got warrants but the exercise price on them is something like in the 40s, I think. The reorg company was semi-private for a while as Hycroft Mining, and then did a SPAC to get new financing a while ago at $10/share plus new warrants with a strike price of $18, plus the older warrants are still around, I think or got converted.
One unusual item is that after the reorg I was able to get about a thousand shares for like nothing and sell once the SPAC went through at an ok profit. The problem buying back then was there were no published financials so it was impossible to tell exactly what one was buying into plus the stock really did not trade at all.
While I did not think the company would be great, I didn't think things would go so bad so fast.
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Charlie's Munger profile picture
Charlie's Munger
07 Jul. 2021, 6:57 AM
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Yup probably worth zero or close to it and that includes warrants
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About This Article
Ticker Covered
HYMC
Author's rating at publication
Bearish
Price at publication
$2.80
Change
-75.40%
S&P 500 change
7.30%
Author's Rating History
Chart
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The chart has 1 X axis displaying Time. Range: 2020-12-16 16:00:00 to 2021-12-16 16:00:00.
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Author's full rating history »
About HYMC
Symbol Last Price % Chg
HYMC
Post
0.69
0.70
5.95%
1.64%
1D
5D
1M
6M
1Y
5Y
10Y
Chart
Combination chart with 2 data series.
View as data table, Chart
The chart has 1 X axis displaying Time. Range: 2021-06-16 16:00:00 to 2021-12-16 16:00:00.
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End of interactive chart.
Market Cap
$39.38M
PE
-
Yield (FWD)
-
Rev Growth (YoY)
144.23%
Short Interest
10.73%
HYMC Ratings
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Not Covered
-
Wall Street
Neutral
3.00
Quant
Very Bearish
1.02
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https://seekingalpha.com/article/4438121-hycroft-mining-has-a-lot-of-gold-but-there-are-many-red-flags
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): December 7, 2021
HYCROFT MINING HOLDING CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
001-38387
82-2657796
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification No.)
8181 E. Tufts Avenue, Suite 510
Denver, Colorado
80237
(Address of Principal Executive Offices)
(Zip Code)
(303) 253-3267
Registrant's telephone number, including area code
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
? Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
? Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
? Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
? Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
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 Capital Market
Warrants to purchase Common Stock HYMCW
The Nasdaq Capital Market
Warrants to purchase Common Stock HYMCZ
The Nasdaq Capital Market
Warrants to purchase Common Stock HYMCL
The Nasdaq Capital Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ?
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ?
Item 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 14, 2021, Eugene Davis notified the board of directors (the “Board”) of Hycroft Mining Holding Corporation (the “Company”) of his resignation as a director and Chairperson of the Board, effective immediately. Mr. Davis’s decision was not the result of any dispute or disagreement with the Company on any matter relating to the Company’s operations, policies or practices. On December 15, 2021, the Board appointed Diane R. Garrett, Ph.D., the Company’s President and Chief Executive Officer and a member of the Board, to serve as Acting Chairperson (non-executive) of the Board pending appointment of a non-temporary Chairperson.
Jeffrey A. Stieber, Senior Vice President, Finance and Treasurer resigned with his last day of employment on December 7, 2021. Mr. Stieber’s decision was not the result of any dispute or disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
Item 7.01. Regulation FD Disclosure.
On December 15, 2021, the Company issued a press release discussing the changes in the Board and providing a corporate update. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
In accordance with General Instruction B.2 of Form 8-K, the information set forth in this Item 7.01 and in the press release is deemed to be “furnished” and shall not be deemed to be “filed” for purposes of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
The list of exhibits is set forth on the Exhibit Index of this Current Report on Form 8-K and is incorporated herein by reference.
EXHIBIT INDEX
Exhibit
Number
Description
99.1
Press release dated December 15, 2021.*
104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document)
* Furnished pursuant to Regulation FD.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: December 16, 2021 Hycroft Mining Holding Corporation
By:
/s/ Stanton Rideout
Stanton Rideout
Executive Vice President and Chief Financial Officer
New Leaders at Winnemucca, Nevada.
http://www.hycroftmining.com/wp-content/uploads/12-15-21-Board-Changes.pdf
The Cheap Stock Factor
https://www.lawinsider.com/contracts/6in1LJEdcQV#cheap-stock-factor
Warrant Adjustment Certificate from January 2021
https://fintel.io/doc/sec-hycroft-mining-holding-corp-ex41-2021-january-20-18647-901
Jordan Darga, What is your prediction now until October 2022?
Is the SEC Finally going to take the case?
Hycroft will be sold to a real Gold Miner?
Our Warrants will expire with no value?
Thanks,
Nick
What is your prediction based on that Ratio?
.3488 Afterhours 12-9-21
Crazy Afterhour movement on HYMCZ -
https://www.nasdaq.com/market-activity/stocks/hymcz
HYMCZ is up again Pre-market .51 Cents with 200k in Volume.
The High Was $1.19 Jordan - Pre-market they brought it down again after the Heist was over it was the European Markets Buying these Z Warrants.
HYMCZ is at .80 Cents right now.
Is your short position still open? Becareful one news and this thing could go way high.
How did you reach that conclusion my friend?
I heard Dec 6 there is a big announcement.
$44 Million Dollars for a Gold Mine - Not bad I will take one. Where is Barrick Gold? please take this mine away from these Stupid Hedgfunders.
What is Chapter 22 Bankruptcy?
https://www.newlandattorneys.com/lake-county-lawyers/what-chapter-22-bankruptcy