Hycroft Mining Holding Corporation · NASDAQ:HYMC
Hycroft Mining — Investor Presentation (February 2022)
27 slides from Hycroft Mining's investor presentation, Feb 4, 2022
Slide 1: Building a World-Class Operation: Corporate Update February 2022
HYMC: Nasdaq BUILDING A WORLD-CLASS OPERATION HYMC: Nasdaq ALIGNED TEAM DISCIPLINED DEVELOPMENT SHAREHOLDER FOCUS February 2022 Corporate Update
Slide 2: Disclaimer
2HYMC: Nasdaq Disclaimer Financial Projections This presentation contains financial forecasts regarding certain financial metrics of the Company. The independent auditor of the Company has not audited, reviewed, compiled, or performed any procedures with respect to the projections for the purpose of
Slide 3: Hycroft Overview
HYMC: Nasdaq Hycroft Overview
Slide 4: One of the World's Largest Precious Metals Deposits
4HYMC: Nasdaq One of the World’s Largest Precious Metals Deposits Second largest gold resource in North America (15.4 Million Au ozs; 23.6 Million oz Au Eq Resource)1 Largest silver resource in North America (0.6 Billion Ag ozs; 1.7 Billion oz Ag Eq Resource) 1 Strong Board, Management and Technical
Slide 5: 2021 Achievements
5HYMC: Nasdaq 2021 Achievements Conducted $10M variability metallurgical drill program for pressure oxidation technical study due Q1/22 Significant improvement in safety record with an 80% improvement in TRIFR year-over-year • 64% better than the national industry average of 1.8 ✓ TRIFR = Total Repo
Slide 6: New Leadership & Technical Teams
6HYMC: Nasdaq New Leadership & Technical Teams • Highly experienced and motivated management teamed in place, led by: • On-site technical team is supplemented with industry leading consultants in metallurgy, mine operations and processing, including: • John Marsden/Metallurgium – a metallurgical and
Slide 7: Mine site and facilities map
7HYMC: Nasdaq VORTEX BRIMSTONE CAMEL CENTRAL GAP BAY North Merrill- Crowe Administration, Warehouse, Maintenance Main East-West Railway (Union Pacific) State Route 49 (Jungo Road) New Leach Pad N Mine Site and Facilities
Slide 8: Valuation vs. Peers
8HYMC: Nasdaq Source: BMO, Company Valuation vs. Peers $2,189 $1,173 $944 $769 $532 $300 $223 $214 $213 $201 $198 $193 $137 $0 $500 $1,000 $1,500 $2,000 $2,500 N o va go ld Se ab ri d ge O si sk o M in in g R u p er t R es o u rc es M ar at h o n G o ld A sc o t P ro b e M et al s Li b er ty G o ld
Slide 9: 2022: Milestones
9HYMC: Nasdaq 2022: Milestones Q1 Completion of mill and pressure oxidation technical study Continue processing ore on leach pads Q2 Ongoing metallurgical test work on material obtained during 2021 drill program Identify exploration targets for 2022 exploration program Continue processing ore on lea
Slide 10: Upside Opportunities: High-grade Targets & Expansion Potential
HYMC: Nasdaq Upside Opportunities High-grade Targets & Expansion Potential
Slide 11: Hycroft Claim Map
11HYMC: Nasdaq Hycroft Claim Map • Large, unexplored land position • The Reserve Pit outline only encompasses 1,570 acres (~approx. 2%) of the claim package • The Hycroft resource covers an area of approx. 3 miles long (north to south) and 1.5 miles wide (east to west) within a land package of appro
Slide 12: Size, Scale and Opportunity
12HYMC: Nasdaq LOOKING EAST VORTEX BRIMSTONE OPEN O P EN Measured Indicated Inferred CAMEL OPEN Size, Scale and Opportunity OPEN CENTRAL Pit outline
Slide 13: Size, Scale and Opportunity
13HYMC: Nasdaq LOOKING EAST VORTEX BRIMSTONE OPEN O P EN Measured Indicated Inferred CAMEL OPEN Size, Scale and Opportunity OPEN Pit outline CENTRAL
Slide 14: Land position larger than Manhattan
14HYMC: Nasdaq 8 .7 m ile s Hycroft land position is larger than Manhattan with numerous exploration targets Size, Scale and Opportunity
Slide 15: Mineralization Remains Open in Several Directions
15HYMC: Nasdaq Mineralization Remains Open in Several Directions 15 Hycroft Mine Oblique View (0.010 Au opt Grade Shell) Looking Northeast Open Vortex High-grade Section 40700 North Open Open Open 2000 Feet Open Open South
Slide 16: Vortex Cross-section 40700 North (Historical Drilling)
16HYMC: Nasdaq Vortex Cross-section 40700 North (Historical Drilling) 16 Au Fire Assay (opt) No Assay/Sample 0 to 0.005 0.005 to 0.007 0.007 to 0.010 0.010 to 0.015 0.015 to 0.030 0.030 to 0.070 0.070 to 0.100 Greater than 0.100 H10D-3547 208’ of 0.031 opt (0.97 g/t) Au / 0.75 opt (23.4 g/t) Ag *inc
Slide 17: Historical Vortex Drilling
17HYMC: Nasdaq Historical Vortex Drilling • Vortex drilling in 2008 discovered a large area of sulfide gold and silver, with higher grade silver values • Significant intercepts include2: H09D-3768 with visible pyrargyrite: 15 feet of 0.011 opt Au and 73 opt Ag inc. 4 feet of 0.028 opt Au and 209.13
Slide 18: Vortex Drilling 2021
18HYMC: Nasdaq Vortex Drilling 2021 • Higher grades have been encountered in several holes during the 2021 metallurgical drill campaign • Significant intercepts include: 1. Hycroft AuEq. calculated based on technical study commodity pricing of $1,300/oz Au and $17.33/oz Ag; includes stockpiled sulfi
Slide 19: Capital Structure and Ownership Summary
19HYMC: Nasdaq Capital StructureOwnership Summary (1)(2) Mudrick 24.4 mm 40% Whitebox 8.4 mm 14% Highbridge 4.9 mm 8% Sprott Resource Lending Corp. 0.5 mm 1% Other 20.9 mm 34% Capitalization and Major Supporters Share Price - HYMC(1) $0.38 Shares Outstanding 60.4 mm Market Capitalization $29.5 mm 5-
Slide 20: Questions?
HYMC: Nasdaq QUESTIONS?
Slide 21: Appendix
HYMC: Nasdaq APPENDIX
Slide 22: Cautionary Note to U.S. Investors Regarding Mineral Reserves and Resources
22HYMC: Nasdaq Cautionary Note to U.S. Investors Regarding Mineral Reserves and Mineral Resources The Mineral Resource and Mineral Reserve estimates contained in this presentation have been prepared in accordance with the requirements of the Modernization of Property Disclosures for Mining Registran
Slide 23: Processing Infrastructure
23HYMC: Nasdaq Processing Infrastructure Existing processing equipment includes: • 5,000 gallon per minute Brimstone Merrill-Crowe plant • Doré created at onsite Brimstone refinery • CIC circuit (~4,500 gpm capacity) available as extra solution processing capacity as needed • 21,500 gallon per minut
Slide 24: Deposit Type
24HYMC: Nasdaq • Large, epithermal, low sulfidation, hot springs deposit • Gold and silver mineralization occurs as both disseminated and vein- controlled • Gold values ranging from detection to 8.8 ounces per ton; and Silver from detection to 647.5 ounces per ton 24 Deposit Type
Slide 25: Hycroft Regional Mines
25HYMC: Nasdaq Hycroft Regional Mines Source: Hycroft Mining Management • Several neighboring world class deposits • Property position covers Sleeper-Rosebud high grade trend • Large under explored property position
Slide 26: Permitting
26HYMC: Nasdaq Permitting • Received Record of Decision from Bureau of Land Management for EIS (10-22-19) • Current operating plan is fully permitted • Existing operating permits will be amended as new facilities/infrastructure are required • EIS includes flexibility: • Expanded pits • Construction
Slide 27: Silver Grades – Swath Plots
27HYMC: Nasdaq Silver Grades – Swath Plots Swath plots are a practice now common among resource modelers to provide a visual indication if the block model follows the grade trends indicated but the supporting data and if there was any observable local bias in the block grade estimation. Figure 1-1 i
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