Replies to post #11959 on Hycroft Mining Holding Corp (HYMC)

[Natureboy1]

Amc snd Eric Sprott just took a stake in HYMC.

[crudeoil24]

AMC stuns investors with investment in gold and silver mine as it puts $1.8 billion war chest to work
8:08 am ET March 15, 2022 (MarketWatch)
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By Ciara Linnane

'To state the obvious, one would not normally think that a movie theatre company's core competency includes gold or silver mining,' AMC CEO Adam Aron acknowledges

AMC Entertainment Holdings Inc. surprised investors Tuesday with the news of an investment in a gold and silver mine that is well outside of its core cinema business.

The company is buying 22% of Hycroft Mining Holding Corp. (HYMC) and its 71,000 acre Hycroft Mine in Northern Nevada, that is understood to have 15 million ounces of gold deposits and some 600 million ounces of silver deposit.

AMC (AMC) will also receive 23.4 million warrants priced at $1.07 a share, a discount over Hycroft shares closing price Monday of $1.37.

Eric Sprott, a seasoned metals investor, will make an investment equal to AMC, the company said in a statement. Combined, the investment comes to $56 million, which the two parties said would give Hycroft financial runway.

"To state the obvious, one would not normally think that a movie theatre company's core competency includes gold or silver mining," AMC Chief Executive Adam Aron said in the statement.

However, AMC's success in recent years in guiding through a period of severe liquidity challenge caused by the coronavirus pandemic, strengthening its balance sheet and resonating with retail investors gives it experience it can bring to Hycroft, which has seen its share price hurt by its own liquidity challenges, he said.