Hycroft Mining Holding Corp.

Hycroft Mining Holding Corp. is a junior gold and silver development company headquartered in Winnemucca, United States, operating primarily in USA. The company's portfolio consists of 1 development project. Key assets include Hycroft. The organization is a U.S.-based exploration and development company currently focused on advancing a single, large-scale mineral property. Having ceased pre-commercial mining activities in late 2021, the business model has transitioned from active production to intensive technical evaluation and resource definition. The operational approach centers on determining the most effective processing method for complex sulfide ore, a shift from its historical heap leach processing of oxide material. Current activities involve extensive exploration drilling, metallurgical testing, and engineering studies to de-risk the project and establish a viable path to recommence commercial-scale operations. The company is evaluating advanced processing technologies, including pressure oxidation and roasting, to optimize recovery from its substantial mineral resource. This strategic pause in production allows for a comprehensive reassessment of the project's technical and economic parameters, aiming to unlock greater value from its complex geology before committing to significant capital expenditure for a full-scale restart.

Strategic focus centers on advancing the technical understanding of its mineral asset to support a future production decision. Key initiatives for 2025 include assessing the potential for a high-grade underground mining scenario, executing a targeted exploration program to expand known high-grade mineralization, and finalizing critical engineering and trade-off studies. These studies evaluate alternative grinding methods, flotation configurations, and sulfide conversion processes like pressure oxidation versus roasting to optimize recoveries and identify potential by-product revenue streams. The enterprise is also committed to strengthening its balance sheet to fund these initiatives, utilizing an at-the-market equity program and monetizing non-core assets. Capital resources management involves a disciplined approach to expenditures, prioritizing activities that directly contribute to de-risking the project and enhancing its economic potential. The long-term objective is to leverage the results of these technical analyses to develop an updated, robust technical report and a comprehensive plan for recommencing cost-effective, commercial-scale operations.

Executive leadership features a President and Chief Executive Officer with over 30 years of experience in natural resources, including a notable track record of advancing a major project from discovery through to construction. The Executive Vice President and Chief Financial Officer also brings over 30 years of senior executive experience in the mining and manufacturing industries, having previously held senior finance and accounting roles at major corporations. The board of directors is composed of 7 members and provides oversight through 6 specialized committees: Audit; Nominating and Corporate Governance; Compensation; Environmental, Social, and Governance; Finance; and Safety and Technical. The Compensation Committee, comprised of independent directors, approves executive compensation and engages independent consultants to ensure alignment with industry standards and performance. The governance framework links a significant portion of executive compensation to specific performance objectives through annual cash incentives and long-term equity awards, reinforcing a pay-for-performance philosophy designed to align leadership incentives with the creation of stockholder value.

The organization's commitment to safety is demonstrated by achieving 1 million work hours without a lost time incident and maintaining a total recordable injury frequency rate of 0.00 at the end of both 2024 and 2023. Mandatory mine safety and health programs are comprehensive, encompassing employee training, risk management, workplace inspections, emergency response, and accident investigation. Environmental management is governed by compliance with numerous federal and state regulations. The company actively performs reclamation activities on a historical leach pad, with these long-term environmental obligations secured by surety bonds totaling $58.7 million. A dedicated Environmental, Social, and Governance Committee of the board of directors provides oversight on sustainability-related risks and opportunities, reviews the company's strategies and performance, and approves policies for ESG-related disclosures. This committee also reviews government relations strategies, charitable programs, and community investment activities, ensuring a structured approach to managing the company's broader social and environmental responsibilities.

The current corporate structure was established in 2020 through a Recapitalization Transaction with a special purpose acquisition company, which resulted in the acquisition of the assets and liabilities of the predecessor entity. As of March 2025, the company has 2 significant stockholders: American Multi-Cinema, Inc. beneficially owned 18.9% of outstanding voting securities, and an entity affiliated with Eric Sprott beneficially owned 9.8%. The investment agreement with American Multi-Cinema, Inc. provides it the right to appoint 1 director to the board. Affiliates of Sprott are also key financial partners, holding a significant portion of the company's debt and a perpetual 1.5% net smelter returns royalty on the property. The company's operational activities are conducted through several wholly-owned subsidiaries, including Hycroft Resources & Development, LLC, Autar Gold Corporation, and Allied VGH LLC. In 2024, the company sold certain patents and intellectual property for a combination of cash and shares in another publicly traded mining company.