Hycroft Mining Holding Corp (HYMC)

[Prudent Capitalist]

LMFAO! BFD! HYMC does not currently mine any gold.

To recap the story so far, Hycroft Mining was a largely unsuccessful gold miner with one mine in Nevada. The company was struggling and as recently as November 2021 had to make significant layoffs with 109 workers losing their jobs and ceasing mining operations at the Nevada plant. In effect, the company was close to the edge of bankruptcy. Only an investment from AMC stopped it from likely going under.

Hycroft Mining issued a press release back in November: “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”)

https://www.fxstreet.com/news/hycroft-mining-stock-news-and-forecast-hymc-is-high-risk-investing-for-the-long-term-202204200833