Hycroft Mining (HYMC) Mining Forum Europe 2026 summary

Strategic vision and resource expansion

• Discovered two high-grade silver systems and high-grade gold after two years of technical work, increasing resources by 55% in two years.

• Holds over 16 million ounces of gold and 500 million ounces of silver, with significant increases in both M&I and Inferred categories.

• Resource area is fully permitted for heap leach and milling, with substantial infrastructure and a land position exceeding 100 sq mi.

• Focused on high-grade zones at Brimstone and Vortex, with step-out drilling and plans for underground mining.

• Plans to start mining high-grade ore at 3,500–5,000 tons/day, scaling up over time for optimal cash flow.

Operational highlights and technical advancements

• Completed over 20,000 meters of drilling this year, tripling the previous program, with four core rigs active.

• Brimstone and Vortex systems remain open in all directions and at depth, with ongoing step-out drilling and modeling.

• Achieved record drill intercepts, including 85 meters of 500+ g/t silver and 21 meters of 2,800 g/t silver.

• Advancing engineering for underground access and exploration declines to enable efficient resource extraction.

• Metallurgical work for pressure oxidation and roasting completed, with strong recoveries and potential for sulfuric acid production.

Financial position and market context

• Maintains $189 million in cash, no debt, and a market cap of $3.4 billion, with major institutional investors onboard.

• Trades on multiple indices, with 60% of revenue from gold and 40% from silver, but valued as a silver company.

• Resource per share is industry-leading, with 22 ounces of silver per share, far exceeding peers.

• Largest silver developer resource in the U.S., offering unique exposure compared to global peers.

• Share price has reflected recent discoveries, with further upside anticipated as the story evolves.