Hycroft Mining (HYMC) Prnewswire·2024-08-06 13:00Core Insights - Hycroft Mining Holding Corporation reported strong operational performance with a focus on safety and operational excellence, achieving zero lost time accidents and a total recordable injury frequency rate of 0.00 for the eighth consecutive quarter [2][3] - The company is advancing metallurgical test and design work for a sulfide milling operation while expanding its exploration efforts to identify high-grade silver and gold opportunities adjacent to known resources [2][6] - Financially, Hycroft ended the quarter with 119.3 million, indicating a solid balance sheet position [3] Corporate Highlights - The company operated without any lost time incidents during the second quarter of 2024, maintaining over one million work hours without a lost time incident [3] - Hycroft accessed its at-the-market offering program, selling 2.5 million shares for gross proceeds of $9.2 million [4] - The company continues to uphold high standards in environmental compliance, workforce health, and community engagement as part of its ESG initiatives [5] Operational Highlights - The 2024 Drill program was expanded to approximately 6,200 meters of core drilling, with about 4,000 meters completed by June 30, 2024, targeting high-grade silver trends [6] - Induced Polarity geophysical surveys were completed, with results expected in the third quarter of 2024, aiding in understanding structural controls of mineralization [6] - Ongoing test work for designing a sulfide milling operation includes evaluating potential byproduct revenues and co-generating "green" electricity [7] Technical Update - The company is focused on developing process plant flowsheets, equipment selection, and plant layout for the sulfide milling operation [7] - Continued exploration efforts are aimed at unlocking the full potential of the expansive land package, with less than 10% explored to date [8]