Hycroft Management And Existing Shareholders Increase Positions In Hycroft
Hycroft Mining Holding Corporation (Nasdaq: HYMC) announced the successful placement of approximately 777,968 shares and 394,863 warrants by Mudrick Capital Management, L.P., exiting their equity in Hycroft.
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Rhea-AI Summary
Hycroft Mining Holding Corporation (Nasdaq: HYMC) announced the successful placement of approximately 777,968 shares and 394,863 warrants by Mudrick Capital Management, L.P., exiting their equity in Hycroft. The management team and existing institutional shareholders have increased their holdings, demonstrating confidence in the company's future. With the Hycroft Mine being one of the largest gold and silver deposits in Northern Nevada, CEO Diane Garrett emphasized the commitment to developing this asset. The support from shareholders is crucial as the new management team drives growth.
Positive
- Management and existing shareholders increased their holdings in Hycroft, signaling confidence in the company's future.
- Hycroft Mine is among the top 20 gold deposits globally and the second-largest silver deposit in the US.
Negative
- None.
Details
News Market Reaction – HYMC
The recorded move for HYMC in the trading session of this news was +0.27%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
DENVER, June 11, 2021 /PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq: HYMC) ("Hycroft" or the "Company"), a gold and silver producer operating the Hycroft Mine in the prolific mining region of Northern Nevada, today announced that it has assisted Mudrick Capital Management, L.P. in placing approximately 777,968 shares of common stock and 394,863 warrants from a harvesting fund, which takes this fund entirely out of Hycroft equity.
David Kirsch, Chairman of the Board of Directors, stated, "Mudrick continues to intend to be long-term shareholders of Hycroft and are supportive of management's initiative to increase their ownership in the Company, further aligning their interests with those of all stakeholders."
Members of the Hycroft management team and Board, together with existing institutional shareholders, have acquired the position, further increasing their holdings in Hycroft's common stock.
"Hycroft is a top 20 global gold deposit and it is the second largest global silver deposit located in the world-class mining region of Northern Nevada, and we believe this was a timely opportunity to increase our commitment to this project. We appreciate the continuing support from shareholders as the new Hycroft management and technical team drives towards developing Hycroft into a world-class asset," commented Diane Garrett, President & CEO.
About Hycroft Mining Holding Corporation
Hycroft is a US-based, gold and silver producer operating the Hycroft Mine located in the world-class mining region of Northern Nevada. The Hycroft Mine ranks among the top 20 largest primary gold deposits in the world and is the second largest in the United States.
View original content:http://www.prnewswire.com/news-releases/hycroft-management-and-existing-shareholders-increase-positions-in-hycroft-301310944.html
SOURCE Hycroft Mining Holding Corporation
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