Hycroft Announces Third Quarter 2024 Results

Core Viewpoint - Hycroft Mining Holding Corporation reported its quarterly results for the three months ending September 30, 2024, highlighting significant operational and technical advancements in its exploration and development activities [1]. Corporate Highlights - The company has achieved a zero total recordable injury frequency rate (TRIFR) for over two years, with more than 1.2 million man hours worked without a lost time incident [2]. - Hycroft received the 2024 Operator Safety Award for small surface mines from the Nevada Mining Association [2]. - As of the end of the quarter, Hycroft had unrestricted cash of $55.8 million and total debt of$122.1 million [3]. Operational Highlights - The exploration program was expanded to approximately 8,500 meters of core drilling, with about 6,600 meters completed by September 30, 2024 [4]. - High-grade results were reported from both Vortex and Brimstone, leading to further drilling to define the structural framework of the new high-grade silver trends [4]. - The drilling program has been extended eastward based on geophysical surveys and mapping efforts [4]. Technical Update - The company advanced metallurgical testing and engineering work for designing a sulfide milling operation, showing significant improvements in gold and silver flotation recoveries [5]. - Future Tailing Storage Facility designs were completed to enhance material storage capacity and comply with new safety and environmental regulations [5]. - Ongoing test work aims to identify optimal processing parameters for sulfide ore, with trade-off studies assessing the economic viability of roasting technology versus pressure oxidation technology [5]. Company Overview - Hycroft Mining Holding Corporation is focused on transitioning the Hycroft Mine into a large-scale milling operation for sulfide ore processing, with less than 10% of its +64,000-acre land package explored to date [7]. - The company announced the discovery of a new high-grade silver system in 2023, which is expected to be a significant value driver for the Hycroft Mine [7].