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1. 14 of 20 holes are at 2x the avg resource grad... for r/c holes just meant to confirm continuity of the resource, which they have done so far
2. The cash burn is overstated and is 5 mil per qtr, not per month.
3. An adam aron quote out of context.
4. And a hasty generalization in that same paragraph... a logical fallacy around mining in genetal not hycroft specific
5. Mining and memeing dont mix. Mining is slow process. The idea of making hycroft a meme stock is like oil and water mixing.
6. Claiming the stock is up with higher gold prices is correlation implying causation and not even factually correct if you overlay gold price on a chart with the price of hycroft. The price has not charted alongside gold or silver prices and easy to see divergences where it clearly could not be statistically correlated.
7. Hycroft is not mining and just finishing up residual leaching from the prior operation. So this is just a known fact and misleading in the way it is presented in the article.
8. "Mostly underwhelming" to the author but 14 of 20 holes had 2x better ore grades than the resource avg. 1gpt is perfectly economical for oxides at surface that can be rom like at brimstone where that rc happened. All 20 were in mineralization including some along the east fault which was previously considered to be a not mineralized bounding fault but actually is mineralized throughout.
9. The white clay and vugs in the cores alex was holding show they found what they wanted to see from the hypothesized model of the larger feeder structures. They are confirming the broader thesis and found the geologic depth where you see the larger discoveries in the region were made and consistent with the works of geologist like davidson and rick streiff that show this is how you find the underground high grade.
10. Finding separate intervals of mineralization and sections at true thickness are also indicators that the program is succesfully doing what it was intended to do.
11. That new resource estimate happens this quarter, and it is intended to fill in the silver in the modeling to account for things like reagant consumption and goes along with the variability work.
12. The debt isnt due until 2027 when presumably mining could have already been restarted and as typical the rom and mine planning optimization is done thru that lens of the repayback. It is a complete nonissue assuming they restart operations and they have 4 years still to do that.
13. Now we recap the master of the obvious regarding the end of the prior operation which isnt new or anything other than fud
14. And restating that they are doing an exploratiob program while mischaracterizing its success as an alleged failure is simply the author incorrect opinion, man.
15. The mine plan comes after the new resource estimate happens, it is expecting the company to do shit out of order just to provw the authors incorrect that isnt how this works type of nonsensical argument here. Otherwise the plan is being executed exactly as diane and co have stated it would.
15. Again i think it was denaro on yt that broke down the burn rate. As i recall it was 5 mil per qtr if you arent mistakenly including things like the drill program and debt reduction initiatives in that calculus.
16. The fact they are doing exploration is a product of having more capital raised than that was required for sustaining operations and maintaining the required cash on the books.
17. And also represents a company that is doing what its shareholders asked it to do.
18. If the author thinks they are trying to sustain the prior op that is laughable, else it is obvious that they have to complete technical work before restarting operations.
19. It also misleads that the milling operation is required to process sulfides,
20. yes that may be, but the lie is thinking that the mine plan already doesnt have that accounted for. As that is the purpose of the new ready to go leach pads, because the first few years of operations will still involve leaching of oxide and transition materials.
21. Before reaching the sulfides that are furthee down. And this is not anything revelatory, and again if you look at the other projects in nevada with similar emplacements, you see the same theme.
22.Companies stopped at the sulfides and gave up, not realizing the bonanza grades that fed the surface are extensions further below ground where you reach the geologic horizon and see that in the stockwork and breccia and clays and see where that material exists further down.
23. Hycroft recognizes it would be highly unusual for such feeders to not exist below ground when you have both hycroft and rosebud nearer surface as multimillion ounce deposits closer to surface. Davidson gets it. He follows smarter folks than i will ever be like rick streiff, and these are the dudes finding all the good good throughout nevada.
24. Next is a trust me bro argument from the author.
25. Then opinion followed by speculation based on inacurate statements as if repeating them makes them at all true, then more opinion based on that illogic.
26. Next is just pulling numbers out his ass patently absurd hypothetical wishful thinking fud.
27. Next is premature to argue that amc investment isnt success as they havent sold
28. Next is investment advice that gets whoever buys it what they paid for it.
29. And finished with a corny movie quip
Like i said TRASH... from opening sentence through to asking for you to subscribe to that drivel.
Lol, that is such an easily refuted seekingbetasimp trash piece. Where to begin. Oh well i dont give a shit to try
News out this morning too.
Vortex Zone mineralization extends south
Brimstone Zone higher grades extend north
Gold and Silver identified in new area of Central Zone
She said they were minting coins from the prior leach pad op and would plan to do so again with the commercial production.
Sounds like the coins would be made out of gold and silver that they had held at the refiners to do so with.
I didnt hear anything about a dividend either, but that it was to be sold in an online store.
New credit card news and now taking sign ups for join the waitlist.
Silver over $24 US
Hycroft has 600 million ounces of it and counting
And still has 140 mil in the bank.
Dividend isn't realistic until commercial starts. Also isnt likely to actually be paid in gold or silver when/if they do one.
But is cool to hear they are minting some coins from the prior leach pad operation production they held at the refiner.
Good interview for the most part. I just dont agree with that d talk yet.
Oh look another "News" article pops up about AMC that represents one dipstick's opinion and making claims without offering any sources to back it up.
The "News" feed here on the hub for AMC has some latest hit piece that links to an editorial opinion page that only tangentially references AMC
I thought the idea of APE was to be akin to that or not?
Andy from the mine said mr goodman said "ape takes time"... like this doesnt fix it overnight. Everybody thought it was going down because they diluted it, but they didnt. The ape count is only a few mostly rsu's hire than the amc count right now. Ie like 530 vs 516 or something os off memory counts.
I am waiting until Hycroft drops their updated resource estimate and studies to go with rising gold/silver and then restart heap leaching on a "high" grade at Brimstone... and you got the movie side being full swing with Avatar and a burgeoning slate of 23 releases to go with popcorn and credit cards.
Everyone looking at the sbf ftx thing can see what is happening. I think it probably is how the books were getting squared with the ftd'z.
Until the story comes out, I don't think it is in AA's interest to look like the one wearing the tinfoil hat.
Once the flowsheet comes out, those current M&I resources become 2P reserves. Will be hard for them to keep us under a buck when that day comes.
Makes sense to me
Based on the 2019 bfs if im not mistaken. That old octopus guys youtube broke it down pretty well. I would imagine with the breakdown of mi&i, i would imagine the resource is now at least a third to 50% larger
Yeah, restructured to be due in 2027. They paid 23 million on the $195 raised to do that. Theoretically, all this is well after commercial mining commences.
Maybe see his tweet from april 30th on the topic...
Q1 is looking interesting IMO. Should be a new technical report with the updated studies and 2021 and 22 drilling, and they start drilling outside exisiting resource next qtr as well.
HYCROFT PROVIDES CORPORATE UPDATE
Source: PR Newswire (US)
WINNEMUCCA, Nev., Nov. 17, 2022 /PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq: HYMC) ("Hycroft" or the "Company"), a gold and silver exploration and development company which owns the Hycroft Mine in the prolific mining region of Northern Nevada, is pleased to announce recent corporate activities.
"We are very pleased to provide an update on some recent activities as we work towards positively positioning the Company for the next phase of operations," said Diane Garrett, President and CEO. Diane further commented, "We are making good progress towards finalizing the technical studies – determining ultimate grind size and the type of grinding mills and capacity that will be required to optimally process our ore. This work also includes extensive laboratory testing to make sure the final process recovers the economic maximum amount gold and silver from our ore. While these studies can be a long and tedious process of various trade-off studies it is critically important to do this work upfront to mitigate any potential start-up risks for our shareholder and to approach the project in a way that delivers the best value at the Hycroft Mine. Each mine is different, and right-sizing equipment – both fixed and mobile – is very important to the economics of the project. To our recent investors Eric Sprott and AMC Entertainment and all subsequent shareholders, we thank you for supporting us and through that support, making it possible to advance this world class asset."
Exploration – To date, the Hycroft Mine has completed approximately 21,600 meters of its 38,000-meter 2022-2023 exploration drill program. The initial holes were drilled in the Brimstone area to confirm higher grade zones and establish continuity between those zones. The results received to date demonstrate there is continuity between the higher-grade areas and the drill results returned grades higher than the resource grade modeled at Hycroft Mine to date. The Company's near-term drilling is targeting higher-grade opportunities in the Vortex and Camel deposits as well as other targets within the Plan of Operation ("POO") and permitted resource areas. The Company has drill permits pending for those target areas that are outside our currently permitted boundary. These targets include Chance, Wild Rose, and other targets within our 60,000+ acres of unexplored land position. We anticipate drilling these targets in the first quarter of 2023.
As reported in July 2022, the Company partnered with National EWP, a well-established exploration drilling contractor operating throughout the US, and First Drilling LLC, a specialized drilling contractor servicing the mining and exploration industry, to begin drilling under the Company's 2022-23 exploration program. On November 1, 2022, National announced it had acquired First Drilling. As a result, Hycroft executed an Assignment and Assumption Agreement under which National assumed all of First Drilling's contractual obligations.
Technical studies – The Company is continuing to advance its technical studies for the next phase of commercial operations utilizing a milling process for the sulfide resource and sulfide dominant transition resource. Included in this technical work are trade-off studies to optimize locations for the mill and tailings management facilities, equipment selection to achieve the optimum grind size, validation of flotation operating parameters to maximize gold and silver recovery, maximize mining efficiencies to minimize costs through better mine plans, and define key critical equipment characteristics for equipment selection to be utilized in the Hycroft Mine flow sheet. A multitude of tests and analyses of our ore has been slower than anticipated due to the backlog in the certified third-party labs completing this work for us. This is a common challenge for our industry as many other companies are experiencing the same delays in receiving their testing results. While we are excited to receive these results, it is also very important to the project that we continue our exploration program and include the new drill information in our block model before completing an updated technical report. Changes in mineral resource grades or identifying potential new deposits could be meaningful to the economics of the mine plan and where and when we begin mining.
Resource model update – The Company plans to initiate an update to its current technical report and expects it to be completed in the first quarter of 2023. The update will include additional 2021 and 2022 exploration drilling, as well as some recently located historical silver fire assay data not previously reflected in the model. At this time, we expect the mining, milling, processing, and recovery assumptions used in the February 22, 2022, resource update to remain substantially the same for the new technical report.
Appointment of new auditor – The Company has selected Moss Adams LLP ("Moss Adams") as its independent registered accounting firm effective November 10, 2022. The Company conducted a request for proposal process and after careful consideration and evaluation, the Company's Audit Committee approved the selection of Moss Adams. Moss Adams is a fully integrated professional services firm with a strong public company practice and extensive mining expertise currently serving more than 30 mining clients. The Company and its Board of Directors are committed to strong corporate governance, and as Hycroft advances exploration and development, it is important to have the depth of mining expertise that Moss Adams brings. The selection of a new independent registered accounting firm was not the result of any accounting or auditing disagreements with Plante & Moran, PLLC.
Agree with you here mostly and appreciate the explanation on the processing.
Hycroft only losing 4 mil cash burn per qtr here with $153 million cash on hand still at q end.
Q1 is when the studies will be done.
They have 2x the resource grade at true thickness with the new rc drills.
Wait for them to explain the vug Alex was holding from Vortex core they still haven't announced yet.
Back over 20 bucks for silver.
We still havent heard any core drill results.
Imagine when they drill in vortex near the one that had 6535gpt of silver.
Easily a billion ounces of silver here beyond the 600 mi&i
Silver gonna fly some day. I have only been waiting 15 years. Now it is actually time I think
The 2019 bfs was based on .5 as i recall. And a planned 60000 tpd at peak.
They are looking for the higher grades here with the rc relatively speaking for a starter pit.
And clearly succeeding here with the early results that are showing continuity and higher grades than the resource avg.
Finding 1gt or 2x the avg grade means moving half the dirt to make the same amount.
We still havent heard any news from the core drilling.
That is where the opportunity for a discovery comes in.
Alex had a core with a vug in it and white clay.
To me, this is but a couple examples where their strategy is starting to show. The grades from RC are double resource grade.
The first drill core in Vortex hit a vug, so they found their geologic depth to hone in on the underground feeders.
Takes time just 43000 of 100000 rc drilled and only 2300 of 25000 core drilled.
So lots of opportunity for discoveries.
Sounds logical. Also gives 12 million in q1 2023 when they are no longer recovering off the prior operation but still need the qtr to finish up the studies.
It is way better viewed using VRIFY.
https://vrify.com/companies/hycroft-mining
Im not. I dont follow. It was honest question. Im not here with anyone else but me.
To be honest, I hoped you did. You seem to be the most informed on the topic here.
My guess is there is an explanation. Have you asked the company?
It is interesting there are only 10 days left on those.
For sure. I was just using a quick example. Thanks.
Physical price is disconnected from paper. What else is new right?
$48 for a single 1oz silver eagle on amazon right now.
$840 for 20 of them.
Silver kilo is $730 on ebay right now
Pretty close to the sub$20 spot price.
Makes lots of sense right?
Silver is almost $21
They also just found the whole East fault is mineralized that was thought to be a bounding fault. So project is open in all directions. They were trying to find the eastern edge for condemnation and go figure it was still mineralized. Nice oxide stuff there too.
They still have the largest crusher fls makes functional onsite and leach pads ready to go with Brimstone and or Chance lined up as a new source of oxides for a starter pit.
Maybe they don't need one?
"Our goal is to find higher grade for a starter pit so that we don't have to build a massive mill operation..."
"That's the goal for our exploration this year."
See 9:54-10:08 of this video from the forum. https://t.co/7bAashS7cJ
Did you try out VRIFY presentation?
Perhaps it is interesting that geophysics layer combined with their exploration targets layer and where they have already drilled in 2022 that hasnt come back from the labs yet?!
How about they drilled along the east edge of brimstone and were still hitting mineralization, so they are going to be able to push that out to the East for the resource boundary.
Looks like they also already put some holes in that strange purple anomaly in the geophysics survey and also in those two se of vortex?
Anyone catch Diane's presentation today?
If i recall, they were running into higher than expected silver grades that were affecting the reagent usage and isnt that why they undertook the variability testing?
Have you checked it out yet? Over 2.4 million feet of drilling logged and new geophysics work all set to a pretty awesome UI to get a nice 2d representation of the deposit.
The new VRIFY stuff is fantastic. I love that you can apply different filter to see thing like the pit outline, exploration targets and the new geophysics work, among other things.
People are being silly to write off Hycroft right now. The grades are better than their average grades and prove that whem they look along the faults, that is what they will find.
Try turning on the geophysics layer and the exploration target one at the same time. I about fell out my chair.
Did you see their new VRIFY 3d models they have up on their site yet?
If you had one of those zuckerberg helmets, it would be just like being there at the site.
Take a look at the geophysics layer and the exploration target layer, turn those two on for a start.
"As we ramp up Hycroft's largest exploration program in nearly a decade, investors can now follow along and visualize the drill result intercepts in a 3D space."
Well how wonderful is that?! Maybe they can get current again and have Lorne come out of retirement to do IR again? Is the KMG being resurrected here like a dead fish shot in a barrel?
Looks like Sean Goodman made a visit to the mine this week.
20x avg of one type of volume and 22 million shares of the 60 mil today was of that persuasion.
Maybe could have to do with that? Or no?