Hycroft ceases active mining, Q3 gold prod +240% YoY; cash $19.8M; chairman resigns

HYCROFT MINING HOLDING CORP

Ceased pre-commercial ROM mining due to rising consumable costs; will continue leaching inventory to conserve cash.
Q3 gold production 14,831 oz (+240% YoY); silver 91,437 oz (+295% YoY); operating losses persist.
Cash $19.8M at Sep 30 (down from $56.4M at Dec 31); lender waiver reduces min cash to $9M through May 2022.
Chairman David Kirsch resigned; independent director Eugene Davis appointed as Chairman.
Focusing on Acid POX pre-feasibility study (completion Q1 2022); believes novel heap oxidation process uneconomic.

item 1.01 item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Eugene Davis

Chairman of the Board

HYMC · HYCROFT MINING HOLDING CORP

Effective: 2021-11-09
Filed: November 10, 2021, 6:59 PM ET

On November 9, 2021, the Board appointed its independent lead director, Eugene Davis, to replace Mr. Kirsch as Chairman of the Board.

Departed

David Kirsch

Chairman of the Board

HYMC · HYCROFT MINING HOLDING CORP

Effective: 2021-11-09
Successor: Eugene Davis
Filed: November 10, 2021, 6:59 PM ET

On November 9, 2021, David Kirsch notified the Company’s board of directors (the “Board”) of his resignation as a director and Chairman of the Board, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Eugene Davis was appointed as Chairman of the Board at HYCROFT MINING HOLDING CORP.

Action: appointed
Role: Chairman of the Board

Exact text from the filing

On November 9, 2021, the Board appointed its independent lead director, Eugene Davis, to replace Mr. Kirsch as Chairman of the Board.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

David Kirsch resigned as Chairman of the Board at HYCROFT MINING HOLDING CORP.

Action: resigned
Role: Chairman of the Board

Exact text from the filing

On November 9, 2021, David Kirsch notified the Company’s board of directors (the “Board”) of his resignation as a director and Chairman of the Board, effective immediately.

View on SEC.gov

HYCROFT MINING HOLDING CORP filing history →

Source: SEC EDGAR

accession 0001718405-21-000107

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