Hycroft Mining Holding Corporation · NASDAQ:HYMC
Hycroft Mining — Investor Presentation (December 2023)
30 slides from Hycroft Mining's investor presentation, December 2023
Slide 1: Hycroft
HYCROFT NASDAQ: HYMC D E V E LO P I N G O N E O F N O R T H A M E R I C A’ S L A R G E S T P R E C I O U S M E TA L S D E P O S I T S December 2023
Slide 2: Disclaimer
DISCLAIMER Financial Projections This presentation contains financial forecasts regarding certain financial metrics of the Company. These projections should not be relied upon as being necessarily indicative of future results. The independent auditor of the Company has not audited, reviewed, compile
Slide 3: Corporate Highlights
Corporate Highlights M&I AuEq1 Oz Inferred AuEq Oz Cash2 15.2 M 4.6 M $107 M One of the world’s Located in Nevada, the Large, under-explored Applying a first Well-funded with Leadership team with largest precious metals best place in the world land package with principles approach to $107 M in the t
Slide 4: Gold and Silver: the Original Stores of Value
Gold and Silver: the Original Stores of Value Gold has outperformed other asset classes Why Invest in Gold • The original safe-haven asset • Long-term store of value • Hedge against inflation • Preservation of wealth and portfolio diversification • Gold is a finite resource with growing demand • Cen
Slide 5: The Team: Mine Finders and Mine Builders
The Team: Mine Finders and Mine Builders Diane Garrett, President & CEO Formerly with Romarco Minerals, US Global Investors Stan Rideout, Executive Vice President & CFO Formerly with Romarco Minerals, Phelps Dodge Corp. Rebecca Jennings, SVP & General Counsel Formerly with Newmont, Allied Nevada Dav
Slide 6: The Hycroft Mine: A World-Class Asset
The Hycroft Mine: A World-Class Asset Turquoise Ridge Joint • One of the world’s largest precious metals deposits Venture • Historic mine with past production dating back to 1980s Carlin South - Carlin and adjacent mines LL HE Winnemucca Hycroft Mine C ! ET G Florida Canyon Mine ! Elko • Positioned
Slide 7: Strategy For Growth
Strategy For Growth Extensive drill program improving grade and overall economics Strengthening the resource Upgrading resources from inferred to M&I Optimizing metallurgical results for milling operation Completion of prefeasibility study Conducting trade off studies to ensure optimal plan for maxi
Slide 8: Strategy in Action
Strategy in Action New management has significantly improved safety and community profile • Award-winning safety culture and standards • Trailing 12-month TRIFR: ZERO | National industry average: 2.173 • Achieved 1M man-hours without an LTI in June 2023 • Strengthened relationships in the community
Slide 9: Exploration – Taking a Fresh View
Exploration – Taking a Fresh View CANADA • Applying “first principles” approach to uncover new opportunities Winnemucca Elko U.S.A. in under-explored areas of our land package Reno NEVADA • Step-out exploration drilling to find the high-grade feeder zone(s) Las Vegas Legend • Utilizing technologies
Slide 10: 2022-2023 Exploration Drill Program
2022-2023 Exploration Drill Program Phase 1 Drill Program Results • Discovered gold and silver grades higher than average resource grade (2022) • Established continuity between higher-grade zones • Extended mineralization 150 meters to the east of known resource boundary • Drilling in Vortex deliver
Slide 11: Drilling Within Known Resource
Drilling Within Known Resource • Upgrading Inferred to M&I resources • Drilling to convert waste to ore • Improving the understanding of the higher-grade intercepts TIGHTER DRILL SPACING COULD EXPAND KNOWN PITS AND MINERALIZATION OPPORTUNITIES 11
Slide 12: High-Priority Exploration Targets
High-Priority Exploration Targets • Improving understanding of the mineralization controls for the Hycroft system and beyond Results from the hyperspectral study show signatures of alunite, • Testing high priority exploration targets outside the illite and kaolinite, all associated with gold in the
Slide 13: Discovering Hycroft’s Untold Story
Discovering Hycroft’s Untold Story JULY FEBRUARY OCTOBER NOVEMBER 18, 2022 7, 2023 23, 2023 16, 2023 Hycroft Launches Hycroft drilling Drilling encounters Hycroft drills best hole Largest Exploration intercepts high-grade more high-grade silver ever and discovers new Program in Nearly a silver at Vo
Slide 14: Upcoming Milestones
Upcoming Milestones • Demonstrating strong recoveries through metallurgical test work PREFEASIBILITY STUDY • Conducting trade-off studies • Complete drill program designed to convert inferred into M&I material • Develop optimal flow sheet for milling operation • Initiate PFS economics • Complete Pha
Slide 15: 2023 / 2024 Objectives
2023 / 2024 Objectives COMPLETED ONGOING Q1 Q2 – Q3 Q4 – 1H24 • PUBLISHED TECHNICAL REPORT • PHASE 2 EXPLORATION DRILLING • FINALIZE PRE-FEASIBILITY STUDY • INITIATED PHASE 2 DRILL • EVALUATE/IMPLEMENT STRATEGIC • FINALIZE METALLURGICAL TESTWORK PROGRAM GROWTH OPPORTUNITIES • FINALIZE PROCESS FLOW S
Slide 16: North American Precious Metals Developer Valuations
North American Precious Metals Developer Valuations $1,400 $1,200 Novagold (50%) $1,000 Enterprise Value (US$ mm) Seabridge $800 Osisko Mining $600 Rupert $400 Perpetua Probe Metals $200 Hycroft Wallbridge Liberty Gold Revival Gold Treasury Metals Falco -- -- 5.0 10.0 15.0 20.0 25.0 30.0 Total Attri
Slide 17: Capitalization and Ownership
Capitalization and Ownership Ownership Summary Capital Structure AMC Entertainment 2.4 M 12% Share Price - HYMC1. (NASDAQ) $2.16 Eric Sprott 1.8 M 9% 52-Week High-Low $1.63 - $7.18 Other/Retail 16.0 M 79 % Shares Outstanding 20.2 M Market Capitalization $43.4 M 5-year Warrants issued 5/2020 - HYMCW
Slide 18: Invest in a World-Class Asset and Team
Invest in a World-Class Asset and Team One of the world’s largest gold and silver deposits in a Tier I Jurisdiction Highly leveraged to gold and silver prices Significant upside potential – less than 10% of the land position has been explored and new discoveries being made Development well-advanced
Slide 19: Proven Track Record Of Success
Proven Track Record Of Success STRONG BOARD, MANAGEMENT & TECHNICAL TEAM WITH PROVEN TRACK RECORD OF DELIVERING SHAREHOLDER VALUE 19
Slide 20: Appendix
Appendix
Slide 21: Hycroft
HYCROFT NASDAQ: HYMC www.hycroftmining.com
Slide 22: Board of Directors
Board of Directors Stephen Lang, Chairman & Director Formerly with Centerra Gold Inc., Stillwater Mining Company, Barrick Goldstrike, Rio Algom Ltd, Kinross Gold/Amax Gold, Santa Fe Pacific Gold Diane Garrett, President & CEO Formerly with Romarco Minerals, US Global Investors Sean Goodman, AMC Boar
Slide 23: Mineral Resources
Mineral Resources Approximate Contained Ounces Mineral resources based on metal prices of Classification Cutoff, Equiv Gold Silver Sulfide Gold Silver $1,900/oz Au and $24.50/oz Ag. Gold gm/t Ktonnes gm/tonne gm/tonne Sulfur% Ozs x 1000 Ozs x 1000 Heap Leach Resource Cutoffs are income – process cos
Slide 24: Resource Estimation Parameters
Resource Estimation Parameters Assumptions: Process costs: Unit of measure Value Comminution Per ton of feed to float plant $3.99 Gold price $/oz $1,900 Flotation Per ton of feed to float plant $3.68 Silver price $/oz $24.50 Process (fixed costs) Per ton of feed to float plant $0.51 Mining cost, bas
Slide 25: Metallurgical Results
Metallurgical Results Purpose Identify flotation operating parameters to maximize gold and silver recovery using over 200 selected drill hole samples that are representative of multiple mining stages through the Hycroft ore body Program • 219 Variability Samples, including 30 duplicate and 15 tripli
Slide 26: Positive Metallurgical Flotation Results
Positive Metallurgical Flotation Results KEY HIGHLIGHTS • Statistically significant improvement in gold and silver Silver recoveries 94% • Statistical reduction in variability Gold • Results are consistent and 89% repeatable across o Formation o Depth o Domain o Geochemistry Recovery o Silicificatio
Slide 27: Metallurgical Refinement
Metallurgical Refinement Adjusting process parameters: Estimated operating Result: cost impact: 1. Decrease Particle Size P80 $0.24 / ton 1 Flotation gold recovery increased from 80%4 to 85% - 93% 2. Decreasing Flotation pH $0.40 / ton 2 Flotation silver recovery increased from 80%4 to 91% - 97% 3.
Slide 28: Exploration Program
Exploration Program Generalized Low Sulfidation Deposit • Upper large low-grade mineralization. Hycroft Hycroft • High-grade Au/Ag breccia zone. • High-grade Au/Ag/Base Metal vein system Development Drilling • 125,000 ft (RC & Core) • Define high-grade intercepts • Convert inferred model blocks to i
Slide 29: Open In All Directions & At Depth
Open In All Directions & At Depth HYCROFT MINE OBLIQUE VIEW (0.010 Au opt Grade Shell) Looking Northeast NORTH OPEN OPEN OPEN 2000 Feet SOUTH VORTEX HIGH-GRADE SECTION 40700 NORTH OPEN OPEN Open 29
Slide 30: Mine Site
Mine Site New Leach Prop ose Pad d Ra il Spur North Administratio Merrill- n, Warehouse, Crowe Br i m Maintenance ston BAY Merr e No ch s ill- Lea w rth CrusCrowe PaL Leac mst h hing e d Facil ity i BPra Lea d h id c e Pa lt on Fau GAP tral Cen CENTRAL BRIMSTONE lt Fau st Ea CAMEL VORTEX Main East-W
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