At the moment I am not sure but will look later
The simple truth is that there are all kinds of strange things that are going on with the pricing of the common shares and warrants.
Normally, the warrants should trade for less than common shares, but here, Hycroft common usually traded for less than the warrants; no idea why.
The conversion of shares was handled some what 'strange'. Usually, at the end of one trading day a person's brokerage account would have placeholder and then the converted shares appear prior to the next trading day under the new symbol OR the pre conversion shares would be noted in the account with a 'D' in the fifth position to signify that there was some kind of change going to take place. Here the shares just changed in the middle of the trading day.
Why now? No idea. Maybe it was supposed to covert earlier and it was the broker that was slow on making the change, but I can't tell.
Right now HYMC is trading around $10.50, which is up $0.50. MUDS was issued at around $10 plus a warrant to buy more shares at $11.50, so the stock has basically gone no where even though it now has operations to start making money. MUDSW warrants even seem 'strange' in that they are limited to $18 because of a call option on them.
I am going to take more of a look later and see if I can figure anything out. I am glad that they company finally 'got something going' as long as they make it so everyone has a chance to get in on the deal at some point. I also look forward to the first quarter of somewhat normal operations so everyone can see how things on an ongoing operating basis is.
On a long term basis, the price of gold is going to go up as more and more money is spent; so as long as the company does not 'go nuts' buying other properties' it should make money. (Also, as long as they don't make bad hedges and lock themselves in a low prices for gold.)
Louis J. Desy Jr.
