Hycroft Mining Holding Corporation reported major progress alongside filing its 2025 Form 10-K. The company ended 2025 debt-free with cash and cash equivalents of $181.7 million, increasing to $194.1 million as of February 28, 2026 after warrant exercises and early 2026 spending.
Hycroft increased measured and indicated resources by about 55% to 16.4 million ounces of gold and 562.6 million ounces of silver, plus additional inferred ounces, and defined an initial high-grade silver resource with underground potential. The 2025–2026 drill program is the largest under current management, targeting high-grade silver systems and heap leach material.
The company maintained an injury-free safety record with a 0.00 total recordable injury frequency rate over 1.4 million work hours, eliminated the Crofoot net profits royalty for $2.5 million, and acquired Crofoot sulfur and other mineral rights for $1.5 million. Management highlighted more than 950% total shareholder return in 2025 and noted that its Preliminary Economic Assessment timeline has been extended to reflect the significantly larger resource base and updated mine plan.
Hycroft Mining Holding Corporation filed its Annual Report for the year ended December 31, 2025, outlining progress at its Hycroft Mine in Nevada and key risks. The company remains a U.S.-based gold and silver exploration-stage issuer with no revenues in 2024 and 2025 after stopping active mining in November 2021 and completing heap leach processing by the end of 2022.
In February 2026, Hycroft completed the 2026 Hycroft Technical Report Summary, an initial assessment prepared under updated SEC mining rules. The report estimates measured and indicated mineral resources of 16.4 million ounces of gold and 562.6 million ounces of silver, plus inferred resources of 5.0 million ounces of gold and 132.8 million ounces of silver, across oxide, transitional, and sulfide material. However, no feasibility study or mineral reserves have been established, and there is no definitive restart plan or timeline for production.
As of December 31, 2025, Hycroft held unrestricted cash of $181.7 million and reported surface management surety bonds totaling $58.9 million to secure reclamation obligations at the Hycroft Mine and related water facilities. The site spans roughly 64,000 acres of patented and unpatented claims and is subject to a 1.5% net smelter return royalty under the Sprott Royalty Agreement.
At December 31, 2025, Hycroft had 51 employees, with 43 at the mine, and reported strong safety performance, including 1.4 million work hours without a lost time incident in the fourth quarter of 2025 and a trailing 12‑month total recordable injury frequency rate of 0.00, consistent with 2024. The company emphasizes ongoing compliance with extensive federal and state environmental and mining regulations and notes that environmental-related expenditures and incidents in 2025 and 2024 were not material.
Risk factors highlight that Hycroft is not currently in commercial production and may never restart profitable operations, that mineral resource estimates are subject to revision and depend on metal prices and further studies, and that significant capital will be required to develop milling and pressure oxidation processing for sulfide material. Additional disclosed risks include volatile gold and silver prices, permitting and environmental obligations, reclamation liabilities, dependence on the single Hycroft asset, competition for skilled labor, potential climate and cybersecurity impacts, heavy stock price volatility influenced by retail trading and short squeezes, ownership concentration by a major stockholder, and potential dilution from future equity or warrant exercises. As of March 2, 2026, the company had 91,036,037 shares of common stock outstanding and continues to focus on exploration drilling, technical studies, and trade‑off analyses to evaluate potential development paths for the Hycroft Mine.
Hycroft Mining Holding Corp. reported an insider purchase of its Class A common stock. On February 20, 2026, Sprott Mining Inc., a wholly owned subsidiary of 2176423 Ontario Ltd. controlled by Eric Sprott, made an open-market purchase of 150,000 shares at $42.05 per share, held as indirect ownership. Following this transaction, the filing shows 36,903,704 shares of Class A common stock indirectly owned.
Hycroft Mining Holding Corporation filed an amended report to correct a production error in its previously filed Hycroft Mine Initial Assessment and Technical Report Summary (Exhibit 96.1). Certain images in the original exhibit were inadvertently misplaced by the financial printer.
This Amendment No. 1 is being filed solely to refile Exhibit 96.1 in corrected form, with no changes to the underlying text, data, conclusions, or estimates. The company also highlighted completion of the TRS, effective January 21, 2026, which was prepared under subpart 1300 of Regulation S-K and supersedes a prior March 27, 2023 report.
Hycroft Mining Holding Corporation reported a new Technical Report Summary and updated Mineral Resource estimate for its Hycroft Mine, showing about 55% growth in measured and indicated gold and silver resources. The updated estimate totals 16.4 million ounces of gold and 562.6 million ounces of silver in measured and indicated categories.
The company also outlined a new high-grade underground silver resource of 90.2 million ounces and reported metallurgical test work indicating robust recoveries of 83% for gold and 78% for silver using milling and pressure oxidation. Hycroft is additionally evaluating a roasting alternative that could generate by-product sulfuric acid revenue while it advances the project toward potential commercial operation.
Hycroft Mining Holding Corporation announced that director Stephen A. Lang will not stand for reelection at the 2026 annual meeting due to health reasons. He will remain on the Board and continue as Chair of the Nominating and Governance Committee, and as a member of the Compensation and Safety and Technical Committees, until that meeting. The company stated his decision was not due to any disagreement.
The Board set May 7, 2026 as the date of the 2026 annual meeting of stockholders. Because this date is more than 30 days earlier than the 2025 meeting anniversary, Hycroft reset key stockholder deadlines. Proposals under Rule 14a-8 and director nominations or other proposals under the bylaws must be received by February 16, 2026. Persons planning to solicit proxies in support of alternative director nominees under Rule 14a-19 must notify the company by March 8, 2026.
Hycroft Mining Holding Corporation amended its bylaws to change the shareholder meeting quorum requirement. The new rule states that, unless otherwise required, a quorum is reached when holders present in person or by proxy represent one-third of the voting power of all shares entitled to vote.
When a specific class or series of shares votes separately on a matter, a quorum for that class or series is met when holders present represent one-third of the voting power of the outstanding shares of that class or series. The amendment was approved and adopted by the company’s board of directors.
Hycroft Mining Holding Corp. reported an insider share purchase by a Sprott-affiliated entity. On January 29, 2026, Sprott Mining Inc., a wholly owned subsidiary of 2176423 Ontario Ltd., bought 200,000 shares of Hycroft Class A common stock at $45.99 per share.
Following this transaction, entities associated with 2176423 Ontario Ltd. indirectly beneficially owned 36,753,704 Hycroft shares. Eric Sprott controls 2176423 Ontario Ltd. and can direct voting and disposition of the stock held by Sprott Mining. All reporting persons are treated as a Section 13(d) group.
Hycroft Mining Holding Corporation approved significant equity and cash compensation changes for its senior executives. After shareholders authorized 3,500,000 additional shares under the new equity plan, the Board granted “make-whole” restricted stock unit (RSU) awards and related cash to restore reduced long-term incentive opportunities from 2023–2025.
For example, CEO Diane R. Garrett received 88,035 fully vested RSUs and a $4,532,979 cash award, plus RSUs vesting through January 27, 2028. Other named executive officers received smaller but similar grants and vesting schedules. The Board also created a one-time extraordinary bonus pool of $4.5 million to recognize 2025 financing achievements, including cash payments of $1,500,000 to Garrett and between $769,000 and $850,000 to each other named executive, with 50% of each award subject to a clawback if the executive leaves within 12 months.
Hycroft Mining Holding Corporation’s Executive Vice President and CFO Stanton K. Rideout reported new equity compensation and related share withholding. On January 27, 2026, he received 318,790 restricted stock units (RSUs), which convert into Class A common shares on a one-for-one basis.
Of this award, 44,979 RSUs were vested on the grant date, and the rest vest over one to two years, generally tied to continued employment. A separate transaction on the same date withheld 17,582 shares at $50.5 per share, typically for taxes, leaving him with 484,194 Class A shares beneficially owned, including 373,978 unvested RSUs as of January 29, 2026.