Hycroft Mining Holding Corporation · NASDAQ:HYMC
Hycroft Mining — Investor Presentation (February 2024)
28 slides from Hycroft Mining's investor presentation, February 2024
Slide 1: Developing One of North America's Largest Precious Metals Deposits
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 February 2024
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 Gold Inferred Gold Unrestricted Cash1 10.6 M oz 3.4 M oz $66 M M&I Silver Inferred Silver Oz Restricted Cash1 361 M oz 96 M oz $35 M One of the world’s Located in Nevada, the Large, under-explored Applying a first Well-funded Leadership team with largest precious metals best
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: Hycroft's New High-Grade Silver Discovery
Hycroft’s New High-Grade Silver Discovery 8 5 m of 5 3 4 g / t A g 5 7 m of 3 5 7 g / t A g 1 3 1 m of 2 1 3 g / t A g 4 1 m of 6 3 6 g / t A g 3 9 m of 1 , 0 1 9 g / t A g Core from H23C-5790 (Brimstone) 5
Slide 6: 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 7: 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 8: 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 9: 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 10: 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 11: 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 12: 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 12
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: Two New Trends of High-Grade Silver
Two New Trends of High-Grade Silver • Evaluation of results from recent drilling reveals two new trends with continuous high-grade silver greater than 137 g/t with areas of very high-grade silver (> 2000 g/t) in well-defined veins: • A northwest trend extending from Vortex to Camel (> 600 meters str
Slide 15: New High-Grade Silver Discovery
New High-Grade Silver Discovery Brimstone Camel Vortex te rs strike me g > 600 mete rs strike > 800 al drillin Mini m Minimal d rilling 15
Slide 16: District Exploration
District Exploration • Testing high priority exploration targets outside the currently known resource Results from the hyperspectral study show signatures of alunite, • Largest exploration program in over a decade illite and kaolinite, all associated with gold in the Hycroft system • Improving under
Slide 17: 2024 Milestones
2024 Milestones FOLLOW UP DRILL FINALIZE ENGINEERING REVIEW DRILL RESULTS ONGOING DRILL REVIEW TECHNICAL PROGRAM FOR 2023 AND TRADE OFF FROM WILD ROSE AND RESULTS STUDIES AND HIGH-GRADE SILVER STUDIES OSCAR DEVELOPMENT PLANS DISCOVERY 17
Slide 18: Capitalization and Ownership
Capitalization and Ownership Ownership Summary Capital Structure AMC Entertainment 2.4 M 12% Share Price1 – HYMC (NASDAQ) $2.01 Eric Sprott 1.8 M 9% 52-Week range $1.63 - $6.20 Institutional 1.6 M 8% Shares Outstanding 20.2 Mg Retail 14.4 M 70% Market Capitalization1 $40 M Insiders 0.3 M 2% Average
Slide 19: 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 20: Hycroft
HYCROFT NASDAQ: HYMC www.hycroftmining.com
Slide 21: Appendix
Appendix
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
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