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Highlights
- Stocks of Hycroft Mining Holding Corporation (NASDAQ: HYMC, HYMC: US) soared by over 81 per cent on Monday, March 28.
- The Winnemucca-headquartered company, on March 15, launched the ATM program to facilitate the offer and sale of its Class A ordinary shares.
- HYMC stock swelled by nearly 682 per cent in the last one month.
Stocks of Hycroft Mining Holding Corporation (NASDAQ: HYMC, HYMC: US) soared by over 81 per cent on Monday, March 28, as the precious metal firm completed its at-the-market equity offering program last Friday, March 25.
The Winnemucca-headquartered company, on March 15, launched the ATM program to facilitate the offer and sale of its Class A ordinary shares. The gold and silver miner said that it sold 89.55 million shares and generated about US$ 138.6 million in total gross proceeds before commissions and offering expenses. It will have 196.8 million shares issued and outstanding following the closing of sales.
Proceeds from the ATM program and US$ 55 million worth of equity private placement with Eric Sprott and entertainment giant AMC Entertainment Holdings NYSE: AMC, AMC: US) are intended to be utilized for assessments, pre-feasibility and feasibility study, exploration of Hycroft mine and general corporate activities, Hycroft Mining added.
So, let us talk about Hycroft Mining’s performance.
Hycroft's 2021 preliminary results
Hycroft Mining produced 55,668 ounces of gold, exceeding the upper end of the guidance range for the year ended on December 31, 2021. However, its silver production dropped by about 20 per cent from its guidance, mainly due to slower leach kinetics.
The US-based metal company has US$ 12.3 million cash on hand as of December 31, 2021.
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Hycroft Mining’s stock performance
HYMC stock swelled by nearly 682 per cent in the last one month. After clocking a day high of US$ 2.40, the precious metal stock closed at US$ 2.32 on Monday, with 385 million shares switching hands.
Image description: Hycroft Mining (NASDAQ:HYMC)’s stock performance
Bottomline
Hycroft Mining has been drawing attention in the North American market for a while now, following surging gold and silver prices due to the market uncertainty fuelled by the Russia-Ukraine war and new developments in its business.
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