Hycroft Mining Holding Corp (HYMC)

[Richcc71]

The mine is moth balled. The heap leach pad gold has long been processed. They made millions after the bankruptcy from that. They’ve used the bankruptcy rulings and courts to their advantage no doubt advised by lawyers paid for by the estate.

I guess they will sell once the funds are available for expanding the mine. After all, that was the reason they wrote off the long lived assets to zero - they said they were worthless as they had not raised the finance to expand the mine - once that’s cleared I guess they can then say the assets are indeed worth the $390m or whatever it was listed as on their 8k or 10k. The mine is valued at $200-300m, plus the $390m long lived assets and then whatever they will value 10.5m oz of gold and 465m oz silver at current prices. Just scandalous if they ultimately get away with it.

It says something of the courts of the USA if this does not get reversed. I would say many other companies will be tempted to write off all their assets to!

Unbelievable!