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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest reported): August 6, 2024
HYCROFT
MINING HOLDING CORPORATION
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-38387 |
|
82-2657796 |
(State
or other jurisdiction |
|
(Commission |
|
(IRS
Employer |
of
Incorporation) |
|
File
Number) |
|
Identification
Number) |
P.O.
Box 3030, Winnemucca, Nevada 89446
(Address
of principal executive offices)
(775)
304-0260
(Registrant’s
telephone number, including area code)
N/A
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2.)
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CF$ 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Class
A common stock, par value $0.0001 per share |
|
HYMC |
|
The
Nasdaq Stock Market LLC |
Warrants
to purchase Common Stock |
|
HYMCW |
|
The
Nasdaq Stock Market LLC |
Warrants
to purchase Common Stock |
|
HYMCL |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
2.02 Results of Operations and Financial Condition.
On
August 6, 2024, Hycroft Mining Holding Corporation (the “Company”) issued a press release providing information about its
operating and financial results for the period ended June 30, 2024. A copy of the press release is furnished with this Current Report
on Form 8-K as Exhibit 99.1.
The
information included in this Item 2.02, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section
18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that
section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the
“Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item
9.01. Financial Statements and Exhibits.
(d)
Exhibits.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
Hycroft Mining Holding Corporation |
|
|
|
Dated:
August 6, 2024 |
By: |
/s/
Rebecca A. Jennings |
|
|
Rebecca
A. Jennings |
|
|
Senior
Vice President and General Counsel |
Exhibit
99.1
![](https://www.sec.gov/Archives/edgar/data/1718405/000149315224030388/ex99-1_001.jpg)
Hycroft
Announces Second Quarter 2024 Results
WINNEMUCCA,
NV, August 6, 2024 – Hycroft Mining Holding Corporation (Nasdaq: HYMC) (“Hycroft” or “the Company”)
announces quarterly results for the three months ended June 30, 2024.
Diane
R. Garrett, Hycroft’s President & CEO, commented: “We continued our safety and operational excellence focus in the quarter
ended June 30, 2024, as we operated without a lost time accident and achieved a zero total recordable injury frequency rate for the 8th
consecutive quarter. The metallurgical test and design work for a sulfide milling operation is advancing, and the exploration team continued
to expand its understanding of the new high-grade silver system. Through the meticulous ground based technical work, the team has identified
additional opportunities for high-grade silver and gold adjacent to the known resource. Geophysics and structural interpretations have
increased our understanding of the high-grade mineralization controls are guiding the expansion of the two trends along strike and at
depth in addition to identifying new areas to explore. Our metallurgical, engineering, and exploration work and ongoing safety and operational
excellence focus continue to move Hycroft up the value chain.”
2024
SECOND QUARTER HIGHLIGHTS
Corporate
Highlights
|
● |
Safety:
During the second quarter of 2024, Hycroft reported no lost time incidents (“LTI”) and the total recordable injury
frequency rate (“TRIFR”) for the trailing 12 months was 0.00. Hycroft continues to operate above one million work hours
without a LTI and a TRIFR of zero. |
|
|
|
|
● |
Balance
Sheet: The Company ended the quarter with $58.5 million of unrestricted cash and total debt was $119.3 million, net of unamortized
discount and issuance costs. |
|
|
|
|
● |
Equity
Activities: The Company continued to access its at-the-market offering program and sold an additional 2.5 million shares
of common stock for aggregate gross proceeds, before commissions and offering expenses, of $9.2 million. |
|
|
|
|
● |
ESG
Report: The current ESG report can be found on our website at https://hycroftmining.com. Our ESG report
demonstrates how we integrate our business goals and objectives with the interests and values of everyone affected by our Company.
Exceptional success continued during the quarter in environmental compliance, workforce health, water management, and community engagement. Upholding
the highest standards of ethics and integrity in business remains at the forefront of our mission. |
![](https://www.sec.gov/Archives/edgar/data/1718405/000149315224030388/ex99-1_002.jpg)
Operational
Highlights
|
● |
Exploration:
During the second quarter of 2024, the Company expanded the 2024 Drill program to follow up on the high-grade underground
silver discovery announced in November 2023. The program was expanded to approximately 6,200 meters of core drilling,
of which approximately 4,000 meters of drilling have been completed through June 30, 2024. The current program is targeted to define
the structural framework of the two new high-grade silver trends and target those areas that have not been drilled to establish continuity
of the two high-grade silver trends. Additionally, the Company completed Induced Polarity (“IP”) geophysical
surveys with results expected in the third quarter of 2024. The 2024 Drill Program and geophysical surveys will help with the Company’s
understanding of the structural controls observed in the two high-grade silver trends and potentially expand the Hycroft mineralization
to the east in a previously unexplored area mostly within the current plan of operation. |
|
|
|
|
● |
Technical
Update: Hycroft continued test work and trade-off studies necessary for designing a sulfide milling operation, while it also
continued work to evaluate the potential to generate meaningful by-product revenues through roasting along with potentially co-generating
“green” electricity as part of the process. Process plant flowsheets, equipment selection, plant layout, tailing storage
facility, and other designs continued to be developed. |
The
Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2024, is available at www.sec.gov/edgar. See “Cautionary
Note Regarding Forward-Looking Statements” below.
About
Hycroft Mining Holding Corporation
Hycroft
Mining Holding Corporation is a US-based gold and silver company exploring and developing the Hycroft Mine, one of the world’s
largest precious metals deposits located in northern Nevada, a Tier-1 mining jurisdiction. After a long history of oxide heap leaching
operations, the Company is focused on completing the technical studies to transition the Hycroft Mine into a large-scale milling operation
for processing the sulfide ore. In addition, the Company is engaged in a robust exploration drill program to unlock the full potential
of our expansive +64,000-acre land package, of which less than 10% has been explored. In 2023, Hycroft announced the discovery of a new
high-grade silver system within the known resource area and the delineation of two new high-grade silver trends. These discoveries represent
a significant new value driver for the Hycroft Mine that the Company is following up on with additional drilling in 2024.
For
further information, please contact:
info@hycroftmining.com
www.hycroftmining.com
![](https://www.sec.gov/Archives/edgar/data/1718405/000149315224030388/ex99-1_003.jpg) | Page 2 |
Cautionary
Note Regarding Forward-Looking Statements
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 United States Securities Exchange Act of 1934, as amended, or the United States Private Securities
Litigation Reform Act of 1995. 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. 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. Forward- looking statements address activities, events, or developments
that the Company expects or anticipates will or may occur in the future and are based on current expectations and assumptions. Forward-looking
statements include, but are not limited to (i) risks related to changes in our operations at the Hycroft Mine, including risks associated
with the cessation of mining operations at the Hycroft Mine; uncertainties concerning estimates of mineral resources; risks related to
a lack of a completed feasibility study; and risks related to our ability to re- establish commercially feasible mining operations; (ii)
industry related risks including fluctuations in the price of gold and silver; the commercial success of, and risks related to, our exploration
and development activities; uncertainties and risks related to our reliance on contractors and consultants; availability and cost of
equipment, supplies, energy, or reagents. The exploration target does not represent, and should not be construed to be, an estimate of
a mineral resource or mineral reserve, as ranges of potential tonnage and grade (or quality) of the exploration target are conceptual
in nature; there has been insufficient exploration of the relevant property or properties to estimate a mineral resource; and it is uncertain
if further exploration will result in the estimation of a mineral resource. These risks may include the following, and the occurrence
of one or more of the events or circumstances alone or in combination with other events or circumstances may have a material adverse
effect on the Company’s business, cash flows, financial condition, and results of operations. Please see our “Risk Factors”
outlined in our Annual Report on Form 10-K for the year ended December 31, 2023, and other reports filed with the SEC for more information
about these and other risks. You are cautioned against attributing undue certainty to forward-looking statements. Although we have attempted
to identify important factors that could cause actual results to differ materially from those described in forward-looking statements,
there may be other factors that cause results not to be as anticipated, estimated or intended. Although these forward-looking statements
were based on assumptions that the Company believes are reasonable when made, you are cautioned that forward- looking statements are
not guarantees of future performance and that actual results, performance, or achievements may differ materially from those made in or
suggested by the forward-looking statements in this news release. In addition, even if our results, performance, or achievements are
consistent with the forward- looking statements contained in this news release, those results, performance or achievements may not be
indicative of results, performance or achievements in subsequent periods. Given these risks and uncertainties, you are cautioned not
to place undue reliance on these forward-looking statements. Any forward-looking statements made in this news release speak only as of
the date of those statements. We undertake no obligation to update those statements or publicly announce the results of any revisions
to any of those statements to reflect future events or developments.
![](https://www.sec.gov/Archives/edgar/data/1718405/000149315224030388/ex99-1_003.jpg) | Page 3 |
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Hycroft Mining (NASDAQ:HYMC)
過去 株価チャート
から 8 2024 まで 9 2024
Hycroft Mining (NASDAQ:HYMC)
過去 株価チャート
から 9 2023 まで 9 2024