Hycroft Mining Holding Corp (HYMC)

[Saving Grace]

Soon to go strait up!

Technical Update: Hycroft has been engaged in trade-off studies and alternatives analyses to optimize the development plan to build, mine and process gold and silver from sulfide ore that yields the best economic return for shareholders. Through this work, the Company identified that roasting the Hycroft sulfide ore has the potential to generate by-product sulfuric acid revenue that may create significant economic benefits for the project in addition to the gold and silver. Sulfuric acid has several commercial uses including in the production of lithium from sedimentary style deposits, of which there are five such projects in Nevada in addition to other locations. There is also the potential to co-generate “green” electricity as part of the process. Due to the potential to generate meaningful by-product revenues through roasting, the Company has initiated additional metallurgical studies to determine if utilizing roasting technology instead of pressure oxidation technology would deliver superior economics for the Hycroft Mine.



Diane R. Garrett, President and CEO of Hycroft, commented: “The market for sulfuric acid is in high demand due to the lithium industry and the transition towards green energy, electric vehicles and renewable energy storage. The market is expected to grow substantially with not enough supply to meet that demand. Paired with the significant gold and silver resources we have, sulfuric acid with co-generation of electricity could be an excellent complimentary by-product that could establish Hycroft within the supply chain for the clean energy transition. Trade-off analyses will be completed over the coming months and is critical to ensuring value is maximized for the asset and shareholders.”



In addition, the recent high-grade silver discovery and ongoing 2024 exploration drilling is providing beneficial data towards the potential of an underground starter mine. A higher-grade, smaller start-up mine would mean less initial capital and higher economic returns for shareholders in the early years of the operation. This additional work is expected to be completed over the coming months and as a result, the Company will provide updates on the anticipated timing of the process flow sheet and the associated technical report as information becomes available. Furthermore, additional drill results in the newly discovered high-grade silver underground system are pending with new drilling on-going and that information is important to incorporate into the mine plan.



Ms. Garrett further stated: “All these components are integral to building a right-sized plan for bringing the Hycroft Mine back into production. It is vitally important to design and build the best operation to ensure its long life. Prematurely going into production without exploring every possible opportunity for additional revenue and enhanced economic return is doing a disservice to a world-class asset and our stakeholders. The high-grade discovery is a game changer for Hycroft and we would have missed this opportunity had we rushed to production before that excellent work was completed by our technical team, comprised of industry veterans with incredible knowledge and track records of successful mine development. Taking a methodical approach, testing and refining all options, takes time but has substantial benefits and is being done to ensure value is created for our communities and shareholders through long, sustainable operations.”

For further information, please contact [e-mail] or visit our website at www.hycroftmining.com.


Diane R. Garrett

President & CEO

A Good sign bigblock, preparing for massive explosion in employees, hiring administration first. Good insight. Over 500 are expected. Elko News had an article about spin off jobs in the community.