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Hycroft Announces Second Quarter 2024 Results
WINNEMUCCA, Nev., Aug. 6, 2024 /PRNewswire/ -- Hycroft Mining Holding Corporation (NASDAQ:HYMC) ("Hycroft" or "the Company") announces quarterly results for the three months ended June 30, 2024.
Diane R. Garrett, Hycroft's President & CEO, commented: "We continued our safety and operational excellence focus in the quarter ended June 30, 2024, as we operated without a lost time accident and achieved a zero total recordable injury frequency rate for the 8th consecutive quarter. The metallurgical test and design work for a sulfide milling operation is advancing, and the exploration team continued to expand its understanding of the new high-grade silver system. Through the meticulous ground based technical work, the team has identified additional opportunities for high-grade silver and gold adjacent to the known resource. Geophysics and structural interpretations have increased our understanding of the high-grade mineralization controls are guiding the expansion of the two trends along strike and at depth in addition to identifying new areas to explore. Our metallurgical, engineering, and exploration work and ongoing safety and operational excellence focus continue to move Hycroft up the value chain."
2024 SECOND QUARTER HIGHLIGHTS
Corporate Highlights
Safety: During the second quarter of 2024, Hycroft reported no lost time incidents ("LTI") and the total recordable injury frequency rate ("TRIFR") for the trailing 12 months was 0.00. Hycroft continues to operate above one million work hours without a LTI and a TRIFR of zero.
Balance Sheet: The Company ended the quarter with $58.5 million of unrestricted cash and total debt was $119.3 million, net of unamortized discount and issuance costs.
Equity Activities: The Company continued to access its at-the-market offering program and sold an additional 2.5 million shares of common stock for aggregate gross proceeds, before commissions and offering expenses, of $9.2 million.
ESG Report: The current ESG report can be found on our website at https://hycroftmining.com. Our ESG report demonstrates how we integrate our business goals and objectives with the interests ...