Hycroft Mining Files Q3 2024 10-Q
Ticker: HYMCW · Form: 10-Q · Filed: Nov 5, 2024 · CIK: 1718405
Sentiment: neutral
Topics: 10-Q, mining, financials, gold, silver
TL;DR
Hycroft Mining's Q3 2024 10-Q is in. Check financials vs. last year.
AI Summary
Hycroft Mining Holding Corp. filed its 10-Q for the period ending September 30, 2024. The company, previously known as Mudrick Capital Acquisition Corp., is involved in gold and silver ores. The filing covers financial data for the third quarter of 2024 and year-to-date periods, comparing them to the same periods in 2023.
Why It Matters
This filing provides investors with the latest financial performance and operational updates for Hycroft Mining, crucial for assessing the company's current standing and future prospects in the precious metals market.
Risk Assessment
Risk Level: medium — Mining companies are subject to commodity price volatility and operational risks, which can significantly impact financial performance.
Key Numbers
- Q3 2024 — Reporting Period (Financials for the third quarter of 2024 are detailed.)
- 2023-09-30 — Prior Year Period (Financials are compared against the same period in 2023.)
Key Players & Entities
- Hycroft Mining Holding Corp. (company) — Filer of the 10-Q
- Mudrick Capital Acquisition Corp. (company) — Former name of Hycroft Mining Holding Corp.
- 2024-09-30 (date) — End of the reporting period
- 2024-11-05 (date) — Filing date
FAQ
What is the primary business of Hycroft Mining Holding Corp.?
Hycroft Mining Holding Corp. is involved in the gold and silver ores industry, as indicated by its Standard Industrial Classification code [1040].
What is the fiscal year end for Hycroft Mining Holding Corp.?
The company's fiscal year ends on December 31st.
When was Hycroft Mining Holding Corp. formerly known as?
The company was formerly known as Mudrick Capital Acquisition Corp., with a date of name change on October 2, 2017.
What is the business address of Hycroft Mining Holding Corp.?
The business address is 4300 Water Canyon Road, Unit 1, Winnemucca, NV 89445.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending September 30, 2024.
Filing Stats: 4,730 words · 19 min read · ~16 pages · Grade level 16.5 · Accepted 2024-11-04 17:35:11
Key Financial Figures
- $0.0001 — stered Class A common stock, par value $0.0001 per share HYMC The Nasdaq Stock Market
Filing Documents
- hymc-20240930.htm (10-Q) — 1049KB
- exhibit311-certificationof.htm (EX-31.1) — 9KB
- exhibit312-certificationof.htm (EX-31.2) — 9KB
- exhibit321-certificationof.htm (EX-32.1) — 5KB
- exhibit322-certificationof.htm (EX-32.2) — 5KB
- exhibit951-minesafetydiscl.htm (EX-95.1) — 22KB
- 0001718405-24-000029.txt ( ) — 6952KB
- hymc-20240930.xsd (EX-101.SCH) — 59KB
- hymc-20240930_cal.xml (EX-101.CAL) — 71KB
- hymc-20240930_def.xml (EX-101.DEF) — 215KB
- hymc-20240930_lab.xml (EX-101.LAB) — 602KB
- hymc-20240930_pre.xml (EX-101.PRE) — 448KB
- hymc-20240930_htm.xml (XML) — 1003KB
Financial Statements
Financial Statements 3 2
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 24 3
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 32 4
Controls and Procedures
Controls and Procedures 32 II 1
Legal Proceedings
Legal Proceedings 33 2 Unregistered Sales of Equity Securities and Use of Proceeds 33 3 Defaults Upon Senior Securities 33 4 Mine Safety Disclosures 33 5 Other Information 33 6 Exhibits 34
Signatures
Signatures 35 2 ITEM I. FINANCIAL STATEMENTS INDEX TO FINANCIAL STATEMENTS Page Condensed Consolidated Financial Statements Condensed Consolidated Balance Sheets 4 Unaudited Condensed Consolidated Statements of Operations 5 Unaudited Condensed Consolidated Statements of Cash Flows 6 Unaudited Condensed Consolidated Statements of Stockholders' Equity 7 Notes to Unaudited Condensed Consolidated Financial Statements 9 3 Table of Contents HYCROFT MINING HOLDING CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and par value amounts) September 30, 2024 December 31, 2023 (unaudited) Assets: Cash and cash equivalents $ 55,834 $ 106,210 Prepaids and deposits – Note 3 4,277 3,326 Income tax receivable – Note 25 1,530 1,530 Supplies inventories, net – Note 4 1,445 1,834 Securities available-for-sale – Notes 5 and 10 708 — Interest receivable 326 667 Other receivables 7 — Current assets 64,127 113,567 Property, plant, and equipment, net – Note 6 51,964 53,091 Restricted cash – Note 7 27,240 26,340 Assets held-for-sale – Note 8 4,383 7,148 Securities available-for-sale – Notes 5 and 10 708 — Prepaids – Note 3 600 1,547 Total assets $ 149,022 $ 201,693 Liabilities: Asset retirement obligation – Note 13 $ 4,044 $ 3,172 Accounts payable and accrued expenses 3,183 1,631 Debt, net – Notes 11 and 22 79 2,330 Contract liabilities – Note 12 — 1,550 Other liabilities – Note 9 2,278 3,063 Current liabilities 9,584 11,746 Debt, net – Notes 11 and 22 122,026 142,617 Deferred gain on sale of royalty 29,839 29,839 Asset retirement obligation – Note 13 10,695 4,801 Warrant liabilities – Notes 10 and 14 10 26 Other liabilities – Note 9 2 8 Total liabilities 172,156 189,037 Commitments and contingencies – Note 23 Stockholders' equity – Note 15 Common stock, $ 0.0001 par value; 1,400,000,000 shares authorized; 24,132,592 issued and outstanding at September 30, 2024, and 20,736,612 issued and outstanding