Hycroft Mining Holding Corporation (HYMC) experienced an increase of 8.33% in the aftermarket following an update in SEC filing. However, the last trading session closed at $0.39 with an increase of 2.63%.
About HYMC
HYMC is a gold and silver exploration and development firm that was established in the United States. This firm is working on the Hycroft Mine in Northern Nevada’s world-class mining zone. Moreover, the Hycroft Mine is one of the top 20 largest primary gold resources in the world and the second-most populous city in The United States.
Corporate Update by HYMC – What’s up?
HYMC reported a corporate update on 15th December 2021. As the company proceeds to extract gold and silver from the current heap pads, HYMC expects to achieve the higher end of its product range for 2021 (45,000 – 55,000 ounces of gold). Moreover, the milling and pressure oxidation pre-feasibility study is expected to be completed in the first quarter of 2022. Not only this but the drilling for the variable commercial program will be finished in the first quarter of 2022, with test work and evaluation spanning the first half of the year.
Recent Drill Results – More About it
HYMC announced the recent drill results on 8th September 2021. The drilling program will cover roughly 21,300 meters, with 13 exploration holes intended to fill in regions of less dense drilling and study potential higher grade and oxide prospects identified by the exploration team. At Hycroft, the company has seen some of the greatest gold grades. Moreover, the exploration team has identified multiple target locations with potential higher gold equivalent grades inside and near the existing mineral resource.
Identifying these higher-grade gold equivalent zones is critical information for mine planning as the company develops a long-term operating strategy to maximize the value of this significant mineral resource. Last but not the least, the company is excited to share the development plans and future exploration results as they come together in the first half of 2022.
