Hycroft Mining Holding Corporation
Hycroft Mining holds the Hycroft Mine, a large open-pit gold-silver property in Nevada. The company ran active oxide heap-leach mining from 2019-2021, then suspended it after the ore body proved more sulfide-bearing (harder and costlier to process) than the operating model assumed, and completed a 1-for-10 reverse stock split in Nov 2023 to maintain its Nasdaq listing. Hycroft has operated in care-and-maintenance/exploration mode since, with no commercial mining operations or sustaining revenue currently, funding an accelerating drill program (four core rigs by Q3 2026) targeting the high-grade Brimstone and Vortex sulfide systems, and evaluating an underground mining scenario. A 9-10 Sep 2026 drill-results release continued to expand both systems with higher grades (Vortex: 30.5m @ 780.53 g/t Ag incl. 11.2m @ 1,664.80 g/t Ag, plus a new high-grade gold intercept of 6.1m @ 21.12 g/t Au; Brimstone: 5.5m @ 1,345.27 g/t Ag) -- real, continued exploration momentum, still no commercial mining operations or sustaining revenue. A 9-10 Sep 2026 drill-results release continued to expand both systems with higher grades (Vortex: 30.5m @ 780.53 g/t Ag incl. 11.2m @ 1,664.80 g/t Ag, plus a new high-grade gold intercept of 6.1m @ 21.12 g/t Au; Brimstone: 5.5m @ 1,345.27 g/t Ag) -- real, continued exploration momentum, still no commercial mining operations or sustaining revenue. A May 2026 updated S-K 1300 Technical Report Summary outlined a 51-year mine life and US$4.3 billion post-tax NPV (5% discount rate) at a US$3,600/oz gold and US$48/oz silver price assumption -- an unusually long-dated, high-price-sensitivity STUDY scenario, not built or operating economics, and should be read with that caveat.
Lifecycle Milestones
Not in place: tailings facility.
Jurisdiction (40%, counts 50% here)9/10
Nevada: Fraser PPI 2025 is 100.00 of 100 (rank 1 of 68), which maps to 9 on this site's scale. The Hycroft mine is in Nevada, a Tier-1 mining jurisdiction. The rating covers jurisdiction only, not the company's separate financial history (mining suspended in 2021 and a 1-for-10 reverse split in November 2023).
Infrastructure (40%, counts 50% here)8.6/10
A confirmed mill, confirmed road access, confirmed grid power, and no confirmed tailings facility at Hycroft Mine, Nevada, USA.
Nearby producing mine (20%)Not counted: would not raise the score
Florida Canyon (Integra Resources Corp.) is 48 km away and would score 8.1/10 on its own, but that is below what this company's other researched inputs already give it. A nearby producing mine can only raise this score, never lower it, so it isn't counted here.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:5.2/10
Nearest producing mine: Florida Canyon (Integra Resources Corp.), 48 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:6/10
Stage: Preliminary Economic Assessment
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:9/10
United States: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
President, Chief Executive Officer and Executive Chairman of Hycroft Mining Holding Corporation, appointed President/CEO/Director Sep 2020 (Acting Chair Dec 2021-Apr 2022). Ph.D. (Engineering) and Masters (Mineral Economics), University of Texas at Austin. Over 30 years of senior management and financial expertise in natural resources. Earlier career: Senior Mining Analyst & Portfolio Manager, US Global Investors; VP Corporate Development, Dayton Mining Corporation and Beartooth Platinum Corporation.
Executive Vice President and Chief Financial Officer of Hycroft Mining Holding Corporation since Oct 2020. MBA, University of Evansville; BS (Business/Finance), Western Kentucky University; Certified Public Accountant. 30+ years of senior executive experience in mining and manufacturing. Career: 25 years of senior finance/accounting roles at Phelps Dodge Corporation (VP & Treasurer, VP & Controller, IR Officer & CFO of Phelps Dodge International); brief EVP & CFO role at Swift Transportation Corporation (Jan-May 2008); SVP & CFO of Romarco Minerals Inc. (2010-2015), arranging Haile Gold Mine project debt financing through Romarco's acquisition by OceanaGold Corporation; Chairman and consulting CEO of Carolina Gold Resources Inc. (2018-2020), immediately before Hycroft.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Eric Sprott, the best-known financier in junior gold, owns more than 40% of Hycroft -- 36,753,704 shares as at 29 Jan 2026, held indirectly through Sprott Mining Inc. He got there by buying in the open market, relentlessly: fifteen separate purchases between 10 Dec 2025 and 9 Apr 2026, from 25,000 to 400,000 shares at a time, at prices rising from about $11.64 to $47.58, with more bought since. Set against roughly US$70M of buying, the only other insider activity was three small sales by three other people totalling under US$1M. Every other named holder on the register is an index fund, a rules-based sector ETF, or a brokerage line -- including the Amplify Junior Silver Miners ETF (6.76%) and State Street Corp (5.01%), the two largest of the remainder.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Hycroft Mining owns the Hycroft Mine, a large open-pit gold-silver property in Nevada, where it ran oxide heap-leach mining from 2019 to 2021 before suspending it; it has had no commercial mining operations since and is focused on exploration. Its resource effective 21 January 2026 is 16,414,000 oz of gold in measured and indicated resources (8,600,000 oz measured, 7,814,000 oz indicated) plus 5,033,000 oz inferred, alongside 562,575,000 oz of measured and indicated silver. A May 2026 S-K 1300 initial assessment outlines a 51-year mine life producing 10.4 Moz of gold and 347.5 Moz of silver, with a post-tax NPV5% of US$4.3B and a 16.9% IRR at US$3,600/oz gold and US$48/oz silver, initial capital of US$2,434M and an all-in sustaining cost of US$2,147 per gold-equivalent ounce. Drilling is expanding the high-grade Brimstone and Vortex silver systems, with September 2026 results including 30.5 m at 780.53 g/t silver at Vortex and a new gold intercept there of 6.1 m at 21.12 g/t. Hycroft is also evaluating an underground mining scenario.