Hycroft Mining (HYMC) Registration Filing summary

Company overview and business model

• Operates as a U.S.-based gold and silver exploration and development company, owning the Hycroft Mine in Northern Nevada, with a focus on advancing exploration and technical studies to unlock mineral resource potential.

• Mining operations were restarted in 2019 and discontinued in 2021 due to cost pressures; current activities center on technical studies, exploration, and evaluating processing options for sulfide and oxide ores.

• As of September 30, 2025, measured and indicated resources include 10.6 million ounces of gold and 360.7 million ounces of silver, with additional inferred resources.

• 2025 objectives include assessing high-grade underground mining, expanding high-grade silver mineralization, and evaluating heap leaching and rehandling of historic leach pads.

Financial performance and metrics

• No revenues expected from gold and silver sales until further development and recommencement of mining and processing operations.

• Net proceeds of $44.5 million were raised in a June 2025 public offering, and $60 million in a September 2025 private placement.

• As of September 30, 2025, 54,583,513 shares of common stock were outstanding, with potential for significant dilution from warrants and equity incentives.

Use of proceeds and capital allocation

• Proceeds from warrant exercises (up to $42,051,168 if all exercised at $6.00 per share) are intended for advancement of the Hycroft Mine, working capital, and general corporate purposes.

• Proceeds from the September 2025 private placement are allocated to mine advancement and general corporate purposes.