Replies to post #19240 on Hycroft Mining Holding Corp (HYMC)

[Prudent Capitalist]

LOL! Read HYMC's SEC filings. HYMC ceased all mining operations in 2021 and has not engaged in any active mining of gold or silver since then. Its SEC filings for 2022 and 2023 confirm that it did not engage in any mining operations in 2022 or 2023, that it had no revenue whatsoever in 2022 or 2023, and that it sold no gold or silver in either of those years.

[Saving Grace]

2022 Corporate Highlights:

Safety: Hycroft's safety performance continued to improve significantly reaching a ZERO Total Recordable Injury Frequency Rate (TRIFR) per 200,000 man-hours worked (including contractors) at year-end 2022, representing a 100% reduction from 0.64 at the end of 2021. The mining industry TRIFR average for 2022 was 2.017. Currently, the Company's TRIFR remains at ZERO incidents or accidents.
Production: Gold and silver sales for the year ended December 31, 2022, were 17,728 ounces and 44,084 ounces, respectively. Processing of ore on the leach pads from prior mining operations ceased in December 2022.
Revenue: Revenue from gold and silver sales totaled $32.2 million and $1.0 million, respectively, for the year ended December 31, 2022.
Cash Position: The Company ended 2022 with $142 million of unrestricted cash, $34 million of restricted cash, and in compliance with debt covenants.

They finished out 2022 with it's leach pad operations and then idled operations while refurbishing it's crushers and began the planned explorations and drilling once again. New leach pads infrastructure was constructed while infrastructure for a new operation is now planed with pox testing now complete. The fourth quarter was the planned restart until VP Alex Davidson is now looking to restart with underground mining operations which could be in the third quarter 2024. Hycroft Mine has always been a leach pad operation until recently discovered, new strike with now underground mining and milling production to retart operations. The underground mining restart is beneficial to mining costs for a robust revenue stream for shareholders right out of the gate.

The mining plan will be evaluated late second quarter to early third quarter from my understanding with the most recent drill results. Gold and Silver prices increasing significantly weighs heavy on Hycroft for where to begin and with current strike, Davidson is now aiming at an underground mining operation to get the ball rolling much sooner than later.

https://ih.advfn.com/stock-market/NASDAQ/hycroft-mining-HYMC/stock-news/90622189/hycroft-announces-year-end-2022-operating-and-fina