Business
Hycroft Files 2021 Third Quarter 10-Q And Reports Financial Results
DENVER, Nov. 12, 2021 /PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq: HYMC) ("Hycroft" or the "Company"), a gold and silver company operating the
About this update from Hycroft Mining Holding Corporation
[{"type":"text","content":"DENVER, Nov. 12, 2021 /PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq: HYMC) (\"Hycroft\" or the \"Company\"), a gold and silver company operating the Hycroft Mine in the prolific mining region of Northern Nevada, filed its Form 10-Q for the period ended September 30, 2021.\n\n \n \n \n \n \n \n\n \nQ3 Financial Highlights \nSales in the third quarter of 2021 were 16,354 ounces of gold (average realized price of $1,781 per ounce) and 105,478 ounces of silver (average realized price of $24.15 per ounce), contributing to a $19.4 million increase in revenue compared with third quarter of 2020. Despite higher sales compared to the respective 2020 periods, the Hycroft Mine continued to operate a pre-commercial scale direct leaching run-of-mine (\"ROM\") operation with high operating costs relative to the associated gold equivalent production and sales volumes that resulted in a 2021 year-to-date net loss of $41.1 million. The $42.0 million reduction in cash since the beginning of the year was primarily due to cash used for operating activities of $27.1 million and cash used for investing activities of $11.9 million. A conference call was held on November 10, 2021, to discuss the third quarter operating highlights and the recording can be accessed on our website at www.hycroftmining.com through Friday, November 26, 2021.\nAbout Hycroft Mining Holding Corporation\nHycroft is a US-based, gold and silver company operating the Hycroft Mine located in the world-class mining region of Northern Nevada. Based on the 2019 Technical Report, the Hycroft Mine ranked among the top 20 largest primary gold deposits in the world and the second largest in the United States.\nCautionary Note Regarding Forward-Looking Statements \nThis 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 Unites States Securities Exchange Act of 1934, as amended, or the Unites 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 th...