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. SOURCE Hycroft Mining Holding Corporation. AMC and longtime precious-metals investor Eric Sprott will each invest $27.9 million and receive separate 22% stakes in Hycroft, the companies said. So, how should we think about that against a balance of some of those higher costs from the 1Q disruptions, just kind of flowing through the next couple of quarters? Inferred Mineral Resources have a high degree of uncertainty as to their existence and whether they can be economically or legally mined. Moreover, as I mentioned earlier, we are fully permitted for the mill operation and for [tailings there]. That concludes today's conference. ("Hycroft" or the "Company") announces it has launched a new. All quotes delayed a minimum of 15 minutes. The deal closed just before 4 p.m. EDT Monday, the source said. Safety: Hycroft's safety performance was significantly improved with a 0.64 Total Recordable Injury Frequency Rate (TRIFR) at the end of 2021, which was an 80% reduction from 3.24 . "As we ramp up Hycroft's largest exploration program in nearly a decade, investors can now follow along and visualize the drill result intercepts in a 3D space. Before the negotiations, the company's cash had dwindled to roughly $8 million, the source added. [Operator Instructions]. For information about VRIFY, please contact: https://vrify.com/companies/hycroft-mining, https://www.prnewswire.com/news-releases/hycroft-mining-announces-new-website-and-first-fully-interactive-virtual-site-tour-with-vrify-301627694.html. Here. While there was a lot of good work done in the past, there were just some gaps we identified, and so we want to mitigate any potential startup risk by completing that database of information. Vice President, Investor Relations While we did continue to experience COVID-related workforce shortages that affected our ability to achieve our targeted mining rates during the first quarter, we're working to make up for those shortfalls. Mill, Flotation Concentrate, POX and Cyanide Leach Process Plant Mineral Resources. Anirban rejoined Reuters in 2019 as Editor in Charge, Finance to lead a team of reporters, covering everything from investment banking to venture capital. All units are imperial. Precious metals investor . Mudrick Capital, a Hycroft creditor whose special purpose acquisition company (SPAC) deal with Hycroft in 2020 made it the company's largest shareholder with a 40% stake, helped put together the deal with AMC, a person familiar with the matter said. [Operator Instructions] No further question at this time. And, you know, it was in the way we coordinated our stacking and getting more material under leach quicker. First, I'd like to congratulate the entire Hycroft team for their dedication to improving our health and safety culture at Hycroft. To that end, we have already started adding highly appealing and what we believe will be nicely profitable theatres to our global network, committed to increasing IMAX and Dolby Cinema premium screens, which are so successful within our theatres, introduced NFT programs and accepted cryptocurrency to boost theatre attendance. Please. Because we have all of the equipment, we don't have the pressure of needing to spend the capital on long lead time items. Our game plan is to do it through leases, capital leases, with the operating equipment, and then there'll be some other investment in the process facilities. And everything is on track. Details. Cash used in operations was 15 million and cash used in investing activities accounted for another 5 million as we wrapped up the spending on the leach pad. Welcome to the Hycroft First Quarter 2021 Earnings Conference Call. Leawood, KS 66211 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. ", 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. ("Hycroft" or the "Company") announces it has launched a new website and has officially joined the growing community of mining companies using VRIFY Technology Inc. ("VRIFY") to rethink the way we communicate with investors. So, it sounds like, you kind of wanted to do this holistically. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Cautionary Note Regarding Forward-Looking Statements. These opportunities, combined with the delays in receiving critical information important to the overall flowsheet, has led to the decision to release an Initial Assessment at this time. AMC had no immediate comment on Mudrick's work on the deal, while Hycroft did not respond to a request for comment. 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. We had one seller following our last earnings call who had been in the stock for a while and that continued to put pressure on our stock. So, as far as you know, the larger scale operation when we go to higher tons, you know, there will be a component of additional haul trucks, which Stan is working with a number of equipment manufacturers right now on capital leases. Hycroft's first fully interactive presentation contains a 3D model and 360-degree virtual site visit for the Hycroft Mine that allows viewers to visualize the real-world scale of the mine site in 3D and take a tour of the considerable infrastructure of the site. Numbers may not match exactly due to rounding. But we've also talked to you before about how the ore body tells you how to process each geologic domain so that it yields the best value for all of our shareholders. As we all know, safety performance leads to less incidents, which leads to operational efficiencies and productivity. from 8 AM - 9 PM ET. Please read the press release and listen to this call in conjunction with reviewing the Form 10-Q, which contains additional disclosures. + 'com'; rnoonan@amctheatres.com, John Merriwether We hope to achieve a base operation that is cash flow positive as we bring on the sell side material to be processed under the two stage process during 2022. And our assays are pending as some of that work has already been completed. Conference Call February 22, 2021 / 9:00 am ET (6:00 am PT). For information about VRIFY, please contact:Alex SewellDirector of Marketing and Client SuccessTel: 778-877-1597www.vrify.comThis email address is being protected from spambots. Contact:+1 (646) 705 9409. Good morning and sounds like the process group did a particularly nice job this quarter. 34 pre-collar holes have been completed of a planned 98 holes total. That's exactly hits its kind of a delayed effect. If you have an ad-blocker enabled you may be blocked from proceeding. Everything remains on track and on budget. All right. It is all that experience and skill that we bring to the table to assist the talented mining professionals at Hycroft., Aron explained, AMCs willingness alongside gold and silver expert Eric Sprott to invest in Hycroft has already had immediate benefit for the company. So, that's kind of the capital plan at this point. And the team has just done an outstanding job and we look forward to continuing this upward momentum as we develop this amazing asset. Is this happening to you frequently? Hycroft shares ended trading up 9.35% at $1.52 after almost doubling in value earlier in the day on news of the deal. So, it's a really efficient capital investment there. Direct Q&A feature: Investors are invited to dive in and immerse themselves in the Hycroft Mine and submitting questions directly to Hycroft management in real-time while browsing the interactive content. So, I don't know, Mike or Jack, if you want to add anything. 20 Sep, 2022, 09:00 ET WINNEMUCCA, Nev., Sept. 20, 2022 /PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq: HYMC ). We also did some safety, stand downs to correct some issues there, but, you know, those impacts, you know, were often not felt immediately, because the way you stack a pad, and we kind of knew that, you know, we want to set ourselves up for, you know, a strong first half performance in this year, in the latter part of 2020. Its share price has been knocked low as a result. For more information, visit amctheatres.com. 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. 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. Mineral Resources are not Mineral Reserves and detailed economic considerations have not been applied. So, for the existing plan, in the guidance, you know, theres minimal capital, the 994K wheel loader, we were able to lease that. You need JavaScript enabled to view it.document.getElementById('cloakcaf524c7651b2eb52d8f8682a0c77955').innerHTML = ''; Moreover, we observe that high-grade mineralization occurs at the intersection of the steeply dipping north-south trending faults1 and the primary east-west faults2. Mudrick knew Aron because he had previously invested in AMC and participated in a debt restructuring deal in 2020 that helped keep the movie theater operator afloat. And we're following up on these target areas while we have the drill rigs on site. So, this is a very big benefit. Aron responded that he was interested investing in Hycroft to diversify AMC's business, and that such a deal could help Hycroft attract more investor interest, the source said. Project costs and project recoveries as well as metal prices can have a substantial impact on the Mineral Resource both positively and negatively. 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. , . These statements involve known and unknown risks, uncertainties, assumptions and other factors which may cause our actual results, performance or achievements to be materially different from any results, performance or achievements expressed or implied by such forward-looking statements. So, for the base plan, we're in good shape. He has been part of award-winning teams that covered the government-brokered rescue and bankruptcy of General Motors; insider trading and related bankruptcy debt-trading issues; and emerging concerns with Teslas self-driving car technology. Hycroft is a US-based, gold and silver company developing and exploring the Hycroft Mine located in the world-class mining region of Northern Nevada. 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. We have significantly advanced the oxide and transitional material run of mine plan, which is what we're operating under at the current time. 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. We began this work in January and we expect to complete it in Q3. In 2021, our retail shareholders armed us with a $1.8 billion war chest to play on offense and grow our company. His co-investment underscores our confidence that we have found a profound and unique opportunity for AMC., Aron continued, To state the obvious, one would not normally think that a movie theatre companys core competency includes gold or silver mining. Also, please note that some information provided during the call may include forward-looking statements that involve risks, uncertainties, and assumptions. Our variability drilling program is underway. The industry leader for online information for tax, accounting and finance professionals. So, you know, that's kind of the impact. And then, so you're in the final stages of planning out that pre-commercial, kind of phase of operations, as you mentioned in the report, but you know, how should we think about capital expenditures this year, the balance between cash burn and investment in some of these more critical assets, like the refining facilities that you mentioned? var addycaf524c7651b2eb52d8f8682a0c77955 = 'info' + '@'; ", 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. Today we will be discussing our first quarter 2021 results for which we filed our Form 10-Q with the Securities and Exchange Commission and issued a press release this morning. Hycroft said on Tuesday it had also attracted "atypical retail investor interest" but warned investors that buying its stock could result in losing all or a substantial portion of their money. If we determine that additional value can be obtained by processing some portion of the sulfide through a mill, we have the flexibility and timing of bringing a mill online, because we have the majority of the permits in hand and because the mills and motors are in storage. So, we really do appreciate it. No, that's spot on Stan. Statement of Mineral Resources (at February 18, 2022). Thank you, Jack. It is receiving an infusion of $56 million of equity from the two of us, considerably lengthening its financial runway. We're very excited about what we see with Hycroft and where we're going for our shareholders this year. And then we'll be able to properly size the trucks and the number of trucks that we will need for that. But as long as we're one thing we're focusing on, we're and we're picking up on it, picking up steam on, I should say, pretty rapidly this quarter is that consistency in getting material to the pad, and working through our mine, active mine plan, and making sure that we're emphasizing, you know, the ROM tons as they become available, and really setting up our ore and [waste trends] in the mine to be as efficient as possible and take advantage. See here for a complete list of exchanges and delays. He later revealed in an investigative series how J&J and other businesses and nonprofits use the bankruptcy system to escape liability for lawsuits over deadly products and sexual abuse while avoiding filing for Chapter 11 themselves. So, we did a lot of work on coordinating our ore placement stacking on the pad. Still, AMC's investment "is a little baffling" and its cash would be better used on repaying debt that exceeded $5 billion at the end of December, said Alicia Reese, a Wedbush Securities analyst. var path = 'hr' + 'ef' + '='; VRIFY's interactive 3D and 360-degree presentations equip mining companies and investors with powerful visual context, supported by tools that streamline two-way communication and meetings. While we have a lot of work to do during the year, we have a team thats certainly up to the [past], this is what we do. First of all, production and sales were well above plan, due to improvements made by our process group and the solution management system and increasing the Brimstone Merrill-Crowe throughput, which improved our recovery of metal from the solutions. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. For this quarter, it is business as usual with optimizing our mine plans and performing the drilling necessary to complete the variability work for the sulfide oxidation process. Check your email inbox now for the latest private placement opportunity. On a final note, before I turn the conversation over to Stan Rideout, we remain very disappointed in our share performance, but we also believe these are compelling buying opportunities for such a large world-class mineral endowment. Anirban Sen is the Editor in Charge for U.S. M&A at Reuters in New York, where he leads the coverage of the biggest deals. Under SEC standards, mineralization, such are Mineral Resources, may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically and legally produce or extracted at the time of the reserve determination. By signing up you agree to receive content from us. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. 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. 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. The work today has been completed in the camel and [porter areas]. The Mineral Resource and mine planning work by IMC has been continuing over the past several months and that work has identified a number of opportunities that could be meaningful to the overall understanding and value of the project, as discussed below. WINNEMUCCA, Nev., Feb. 22, 2022 /PRNewswire/ --Hycroft Mining Holding Corporation (Nasdaq: HYMC) ("Hycroft" or the "Company"), a gold and silver development company that owns the Hycroft Mine in the prolific mining region of Northern Nevada, is pleased to provide preliminary operating results for 2021 and results of an Initial Assessment for the Hycroft project. After the speakers presentation there will be question-and-answer session. When I joined last September, our total reportable incident frequency rate, otherwise known as TRIFR, was well above the industry average. When typing in this field, a list of search results will appear and be automatically updated as you type. We expect that program to continue throughout the year with variability testing completed early next year. , , , , , , Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, HYCROFT ACQUIRES CLAIMS NEAR HISTORIC ROSEBUD MINE. It just improved the ounce profile, which translates to, you know, ounce production and revenue relatively quickly on this path. And I'll provide some closing comments shortly, but for now, I'll turn it over to Stan Rideout, our CFO to walk us through the financial summary. So, a lot on the go. En vous inscrivant la newsletter, vous consentez la rception de contenus de notre part. We have quite a few people on this call. We have approximately [50 million tons] of ore of run-of-mine material, which represents about 450,000 ounces of gold, and 18 million ounces of silver. So, you know, the 10 million investment into the variability program is the biggest item as well as, you know, kind of the 5 million that we've already spent in the first quarter, you know, with the predominant amount on the new leach pad, which, you know, we're now deferring that into the future for future capital there. In addition to the opportunities within the current resource area, that represents just 2% of our overall land position, we have identified multiple targets outside the current resource area with promising geophysics and high-grade intercepts drilled by predecessor companies that have not been further investigated. WINNEMUCCA, Nev., Sept. 20, 2022 /PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq: HYMC). Our drill rigs began turning in March 2021 as planned with the task of obtaining the metallurgical samples for our previously reported variability test work program. Thank you, Stan. Hycroft Mining Holding Corporation (NASDAQ:NASDAQ:HYMC) Q1 2021 Earnings Conference Call May 17, 2021 9:00 AM ETCompany ParticipantsTracey Thom - Vice President, Investor RelationsDiane. There has been no exploration drilling at Hycroft since 2014 and, prior to that, drilling was focused on step-out drilling from the known pits for heap leach operations. As used in this press release, the terms "Mineral Resource", "Measured Mineral Resource", "Indicated Mineral Resource" and "InferredMineral Resource" are defined and used in accordance with the Modernization Rules set forth in subpart 1300 of Regulation S-K, even though such terms are not recognized under Industry Guide 7 which the Modernization Rules will replace beginning January 1, 2021 for companies that do not early adopt the Modernization Rules. Thank you again for joining us, and we'll be in touch soon. Good morning, everyone. So, well done there. Hycroft is a US-based, gold and silver development company that owns the Hycroft Mine located in the world-class mining region of Northern Nevada. Similarly, we have announced a major initiative to enter the multi-billion dollar industry of retail popcorn sales, which is right down our alley. Metal prices for Mineral Resources were $1,800/oz gold and $23.00/oz silver. , . See "Cautionary Note to U.S. Investors Regarding Mineral Resources" below. With its investment, AMC has been granted the right to appoint a representative to the Hycroft Board of Directors. We've continued seeing improvements into the first quarter of this year with another decrease in our TRIFR rate, which now places us below the industry average of 1.22. Recoveries become a critical factor when mining begins in the higher-grade silver Vortex deposit. Commenting on the investment in Hycroft, Adam Aron chairman and CEO of AMC Entertainment said, The strength of SPIDER-MAN: NO WAY HOME and THE BATMAN, as well as 2022s promising industry box office, heighten AMC Entertainments conviction that we are on a glide path to recovery.
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