This unit will eliminate an expensive rental loading unit and we expect that it will improve our loading capabilities and cost structure. The quickest way to receive IR assistance is to email IR at: With its investment, AMC has been granted the right to appoint a representative to the Hycroft Board of Directors. It, too, has rock-solid assets, but for a variety of reasons, it has been facing a severe and immediate liquidity issue. So with that, I'll ask the operator to open the call up for questions. var addy_text8689af38a800865fd653960008b5bddb = 'alex' + '@' + 'vrify' + '.' A significant amount of exploration must be completed in order to determine whether an Inferred Mineral Resource may be upgraded to a higher category. For information about VRIFY, please contact: '+addy_text8689af38a800865fd653960008b5bddb+'<\/a>'; Nickel Creek Platinum Announces Updated Mineral Resource Estimate at Nickel S Dynacor Group Reports Record Ore Tonnage Processed Generating Quarterly Sales Calibre Mining Reports Record Quarterly Revenue on Strong Operational Perform NV Gold Commences Phase One Drill Program at SW Pipe Gold Project. Vice President, Investor Relations This news release contains "forward-looking statements" within the meaning of Section 27A of the United States Securities Act of 1933, as amended, Section 21E of the Unites States Securities Exchange Act of 1934, as amended, or the Unites States Private Securities Litigation Reform Act of 1995. Please go ahead. WINNEMUCCA, Nev., Sept. 20, 2022 /PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq: HYMC). Mit Ihrer Anmeldung erklren Sie sich damit einverstanden, Inhalte von uns zu erhalten. I mean, the upgrades to the North Merrill-Crowe plant have to happen in order for us to reach higher mining rates, and higher stacking rates. The term "legally" as used in the SEC's Industry Guide 7 definition of reserves, does not imply that all permits needed for mining and processing have been obtained or that other legal issues have been completely resolved. I'm Diane Garrett, President and CEO of Hycroft Mining, along with Tracy. The press release can be found on our website at www.hycroftmining.com. Startup Riyadh Air plans trio of new plane orders -CEO, Top Barclays software banker to join Centerview -sources, United Airlines CEO says US in a 'business recession' but consumers 'strong'. So, this is a very big benefit. And looking at rental truck hours, you know, can we optimize our own fleet, and reduce rental hours, you know, anything that moves the needle on costs and efficiency, huge effort underway right now in the mine to really, you know, do a deep dive and get that extra margin of savings. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. 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Precious Metals and Minerals Mining. var prefix = 'ma' + 'il' + 'to'; At this time, all participants are in a listen-only mode. And, but you know, with the work that Jack and his team are doing on the mining side with Forte, we're finalizing the mine plans over the next couple of weeks. We know we're on the right path to achieving that goal. However, for a reserve to exist, we must have a justifiable expectation, based on applicable laws and regulations, that issuance of permits or resolution of legal issues necessary for mining and processing at a particular deposit will be accomplished in the ordinary course and in a timeframe consistent with our current mine plans. ("Hycroft" or the "Company") announces it has launched a new. Its operating mine, the Hycroft Mine, is an open-pit heap lea. They're going to be performing a dual purpose this year. While we are making progress and achieved our Q1 2021 sales plans, Hycroft has not been able to generate positive net income or positive cash flows due to the low gold equivalent ounce production and sales volumes in a high operating cost profile. Our goal is to get the free cash flow positive as quickly as possible. As we discussed in our last call, this program is critical to completing the database of information so that we know how each geologic domain will perform under the two-step novel sulfide oxidation and heap leach process. AMC Entertainment Holdings Inc. Announces Significant Investment That material is currently accessible, and our existing leach pad has about 34 million tons of run-of-mine capacity available. See "Cautionary Note Regarding Forward-Looking Statements" below. Hycroft Mining Announces New Website and First Fully Interactive AMC Chief Executive Officer Adam Aron on Tuesday said the company raised a $1.8 billion "war chest" in 2021 thanks to stock sales snapped up by retail investors. AMC shares closed up nearly 6.9% at $14.48, Aron said Hycroft resembled the movie-theater chain a year ago, facing a liquidity crisis despite "rock-solid assets.". Commissioning is ongoing and we expect to complete the commissioning of that new 994K in May. No, well weve got a pretty detailed distribution of drill holes set up to well define all the geological domains, and then we're more importantly, the geo metallurgical domains. All right. Okay. Cision Distribution 888-776-0942 Garrett, President and CEO of Hycroft Mining, along with Tracy. It just improved the ounce profile, which translates to, you know, ounce production and revenue relatively quickly on this path. Flotation milling followed by pressure oxidation of concentrates (POX). And then really, it's a very I have to hand it to the team. As we transition, and work on the run-of-mine plan where we're really working on the capital at this point, we think, you know, we'll be able to finance a significant portion of that. Hycroft, previously known as Allied Nevada, had filed for bankruptcy before and emerged from it in 2015. 1North-south trending faults include: Range, West Splay, Central, Albert, Break, Ice, Fire and East.2East-west faults include: Camel, South Brimstone, Prill and Ramp. Hycroft Mining Holding Corporation is a precious metals development company that owns the Hycroft Mine in the prolific mining region of Northern Nevada - one of the world's largest precious metals deposits. Cautionary Note to U.S. Investors Mineral Resources. I'll hand the call back to Diane Garrett. 34 pre-collar holes have been completed of a planned 98 holes total. The closing of the Private Placement is expected to occur on or about March 15, 2022. Company Release - 3/15/2022 AMC buying 22% of Hycroft Mining Holding Corporation, and to receive an additional 23.4 million warrants in Hycroft at $1.07 per share Making an investment equal to AMC is Eric Sprott, one of the world's leading gold and silver investors FOR FURTHER INFORMATION contact This email address is being protected from spambots. So, for the plant itself, the upgrades I think we've addressed in the past, it's about $3 million to do that. Mineral Resources are contained within a computer-generated optimized pit. After that, we will open the call up for questions from our audience. For information about VRIFY, please contact:Alex SewellDirector of Marketing and Client SuccessTel: 778-877-1597www.vrify.com[emailprotected], SOURCE Hycroft Mining Holding Corporation. We're currently drilling in South Brimstone and our next move will be to North Brimstone. He has a masters degree from Columbia Universitys journalism school and an undergraduate degree from Johns Hopkins University. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. All statements, other than statements of historical facts, included herein and public statements by our officers or representatives, that address activities, events or developments that our management expects or anticipates will or may occur in the future, are forward-looking statements, including but not limited to such things as future business strategy, plans and goals, competitive strengths and expansion and growth of our business. Additionally, a recent development and meaningful to the operations is that we expect to start improving our cost metrics as we experienced the arrival of the new Caterpillar 994K wheel loader. Jason Mudrick, the firm's founder and chief investment officer, called Aron last week asking him to advise Hycroft on how it could launch a stock market offering to stave off bankruptcy, the person familiar with the matter said. Metal prices for Mineral Resources were $1,800/oz gold and $23.00/oz silver. Our team is moving into the final stages of the mine plan optimization and scheduling with the current 50 million tons of run-of-mine material and more that we expect to encounter throughout our mining operation. Project costs and project recoveries as well as metal prices can have a substantial impact on the Mineral Resource both positively and negatively. And we wouldn't be able to do that without your support. Thank you again for joining us, and we'll be in touch soon. Explainer: Why is OPEC+ cutting oil output? Its share price has been knocked low as a result. AMC buys surprise stake in a precious metals mine - CNN Access the interactive presentation through the Company's corporate website via the homepage and at the following link: https://vrify.co/Hycroft_3Dpresentation, Diane Garrett, President and CEO commented: "We are committed to being as transparent as possible with every investor. In other words, we have flexibility if and when a small mill may make sense. Hycroft Mining Announces New Website And First Fully Interactive After evaluating the information obtained, and carefully considering the numerous and significant opportunities developed during the assessment process that warrant follow-up analysis and work, coupled with the highly inflationary environment for equipment and cost inputs, the Company has filed an Initial Assessment Technical Report for the Hycroft Mine in accordance with the Modernization of Property Disclosures for Mining Registrants set forth in subpart 1300 of Regulation S-K. As a result of the milling and acid pressure oxidation mining process presented in the Initial Assessment, as compared to the novel two-step oxidation and heap leap process in the 2019 Technical Report, and the associated fundamental changes to the assumptions underlying the 2019 Technical Report, our ongoing disclosures, including those to be made in the Annual Report on Form 10-K for the year ended December 31, 2021, will be based on the Initial Assessment and not the 2019 Technical Report. ", Investors can also now view Hycroft's company profile on the VRIFY platform, where new interactive content will continue to be added as the Hycroft Mine story progresses: https://vrify.com/companies/hycroft-mining. For information about VRIFY, please contact: By signing up you agree to receive content from us. Thank you, Stan. We're very excited about what we see with Hycroft and where we're going for our shareholders this year. Because we have all of the equipment, we don't have the pressure of needing to spend the capital on long lead time items. If you wish to request information or These standards differ significantly from the disclosure requirements of Industry Guide 7 in that Mineral Resource information contained herein may not be comparable to similar information disclosed by U.S. companies that have not early adopted the Modernization Rules promulgated by the SEC. Hycroft is a low-sulfidation, epithermal system with numerous banded quartz veins similar to Midas-style mineralization yet there has been no prior focus on understanding these veins and what they may mean to potential feeder systems. For information about VRIFY, please contact:Alex SewellDirector of Marketing and Client SuccessTel: 778-877-1597www.vrify.comalex@vrify.com, View original content to download multimedia:https://www.prnewswire.com/news-releases/hycroft-mining-announces-new-website-and-first-fully-interactive-virtual-site-tour-with-vrify-301627694.html, SOURCE Hycroft Mining Holding Corporation. The term "economically," as used in the SEC's Industry Guide 7 definition of reserves, means that profitable extraction or production has been established or analytically demonstrated in a feasibility study to be viable and justifiable under reasonable investment and market assumptions. Well, thank you very much, and best of luck on the rest of the year. As Stan indicated, our 994 parts began arriving in March. Before the negotiations, the company's cash had dwindled to roughly $8 million, the source added. var addycaf524c7651b2eb52d8f8682a0c77955 = 'info' + '@'; Hycroft Mining - Investors Please disable your ad-blocker and refresh. var path = 'hr' + 'ef' + '='; It started parts started arriving in March and commissioning is expected to be completed soon. The industry leader for online information for tax, accounting and finance professionals. Hycroft Provides Preliminary 2021 Operating Results and Highlights of All quotes delayed a minimum of 15 minutes. Inferred Mineral Resources have a high degree of uncertainty as to their existence and whether they can be economically or legally mined. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Cautionary Note Regarding Forward-Looking Statements. Precious metals investor . , , , , , , Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, https://vrify.com/companies/hycroft-mining, HYCROFT ACQUIRES CLAIMS NEAR HISTORIC ROSEBUD MINE. En vous inscrivant la newsletter, vous consentez la rception de contenus de notre part. That's exactly hits its kind of a delayed effect. And the team has just done an outstanding job and we look forward to continuing this upward momentum as we develop this amazing asset. Winnemucca, NV. Independent third-party studies confirm that the Hycroft Mine has some 15 million ounces of gold resources and some 600 million ounces of silver resources. Leawood, KS 66211 The words "estimate", "plan", "anticipate", "expect", "intend", "believe" "target", "budget", "may", "can", "will", "would", "could", "should", "seeks", or "scheduled to" and similar words or expressions, or negatives of these terms or other variations of these terms or comparable language or any discussion of strategy or intention identify forward-looking statements. Here. ", Investors can also now view Hycroft's company profile on the VRIFY platform, where new interactive content will continue to be added as the Hycroft Mine story progresses: https://vrify.com/companies/hycroft-mining. We assume no obligation and do not intend to update any such forward-looking statements. Please read the press release and listen to this call in conjunction with reviewing the Form 10-Q, which contains additional disclosures. And again, thank you for participating and joining us today. See here for a complete list of exchanges and delays. That's a perfect clarification there. 00000. It is one of North Americas largest development sites. Good morning and sounds like the process group did a particularly nice job this quarter. So, I guess we've answered everybody's questions. And we're following up on these target areas while we have the drill rigs on site. For this study, Independent Mining Consultants, Inc. ("IMC") developed the Hycroft resource block model which includes data from 1981 to 2018 and includes 5,501 holes, representing 2,482,722 ft of drilling. As Diane indicated, we've identified 50 million tons of oxide and transitional ores. Cutoffs are income process costs = NPR = NSR-Process OPEX. The cash balance at that time was 56.4 million. So, we need to be able for the plant to handle the solutions and the Brimstone plant while we made a lot of upgrades, and, you know, address some of the issues there. En vous inscrivant la newsletter, vous consentez la rception de contenus de notre part. Likewise, you are cautioned not to assume that all or any part of Measured or Indicated Mineral Resources will ever be upgraded to mineral reserves. You need JavaScript enabled to view it.document.getElementById('cloakcaf524c7651b2eb52d8f8682a0c77955').innerHTML = ''; With additions to the operating team at site and at the corporate level, combined with a motivated workforce, we saw the benefits of that work very quickly. By signing up you agree to receive content from us. It's going to take a long time. https://vrify.com/companies/hycroft-mining. And we look forward to reporting back to the market once we have the final information on the heap leach run-of-mine plan, as well as the work that comes in from our variability test work for the two state sulfide oxidation and any updates we may have on the mill. Third, as we discussed on our last call, with total resources of 21 million ounces of gold and over 700 million ounces of silver, we feel it is prudent to at least look at the option for trading higher grade sulfide ores, which we have identified within the deposit through a small mill. Others that are on the call today are Jack Henris, our Executive Vice President and Chief Operating Officer COO; Stan Rideout, our Executive Vice President and Chief Financial Officer; and Mike Eiselein, our Vice President and General Manager. Numbers may not match exactly due to rounding. Forward-looking statements include, but are not limited to: industry related risks including: fluctuations in the price of gold and silver; uncertainties concerning estimates of mineral reserves and Mineral Resourcesand the ability to report mineral reserves and Mineral Resources; risks related to ceasing active mining operations; risk related to issuing a new initial assessment technical report and no longer relying upon the 2019 Technical Report;risks and uncertainties relating to potential opportunities to increase resources in block model; risks and uncertainties relating to identifying higher grades of gold and silver and identifying additional silver assays to expand the silver estimate and increase Mineral Resources; uncertainties relating to the ongoing COVID-19 pandemic; the intense competition within the mining industry; the inherently hazardous nature of mining activities, including environmental risks; our insurance may not be adequate to cover all risks associated with our business, or cover the replacement costs of our assets; potential effects on our operations of U.S. federal and state governmental regulations, including environmental regulation and permitting requirements; cost of compliance with current and future government regulations; uncertainties relating to obtaining or retaining approvals and permits from governmental regulatory authorities; potential challenges to title in our mineral properties; risks associated with proposed legislation in Nevada that could significantly increase the costs or taxation of our operations; and changes to the climate and regulations and pending legislation regarding climate change; business-related risks including: risks related to our liquidity, compliance with our credit agreementsand going concern considerations; risks related to our ability to raise capital on favorable terms or at all; risks related to proprietary novel two-stage heap oxidation and leach process at the Hycroft Mine and estimates of production; risks related to development of an initial assessment and a pre-feasibility study for the acid POX milling process; our ability to achieve our estimated production and sales rates and stay within our estimated operating and production costs and capital expenditure projections; risks related to a decline in our production of gold and silverand the ceasing of active mining operations; risk related to our ability to successfully eliminate or meaningfully reduce processing and mining constraints and related the results of our planned 2021 technical efforts and how the data resulting from such efforts could adversely impact processing technologies applied to our ore, future operations and profitability; risks related to our reliance on one mine with mining operations ceased; risks related to our limited experience with a largely untested process of oxidizing and heap leaching sulfide ores; uncertainties and risks related to our reliance on contractors and consultants; risks related to the availability and cost of equipment, supplies, energy, or commodities; the commercial success of, and risks relating to, our development activities; risks related to slope stability; risks related to our substantial indebtedness, including cross acceleration and our ability to generate sufficient cash to service our indebtedness; uncertainties related to our ability to replace and expand our ore reserves; costs related to our land reclamation requirements; uncertainties resulting from the possible incurrence of operating and net losses in the future; the loss of key personnel or our failure to attract and retain personnel; risks related to technology systems and security breaches; any failure to remediate and possible litigation as a result of a material weakness in our internal controls over financial reporting; risks related to current and future legal proceedings; and risks that our principal stockholders will be able to exert significant influence over matters submitted to stockholders for approval; risks related to our securities, including: volatility in the price of our common stock and warrantsand possible delisting of securities if our trading price drops below $1.00 per share for an extended period of time; risks that our warrants may expire worthless;the valuation of our private warrants could increase the volatility in our net income (loss); antitakeover provisions could make a third party acquisition of us difficult; and risks related to limited access to our financial information, as we have elected to take advantage of the disclosure requirement exemptions granted to emerging growth companies and smaller reporting companies; and forward looking statements that we do not intend to pay cash dividends and depending upon results of testing and analysis, we may determine to continue to cease mining until a new mining approach is determined and a new technical report is issued.
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