Hycroft Mining: Underwhelming Drill Results And Momentum Is Lost


  • The company completed over 40,000 feet of drilling in Q3 2022, but there were few drill interceptions above 1g/t gold.
  • In addition, the pre-commercial scale direct leaching ROM operation continued to run in the red.
  • Momentum seems low and the short borrow fee rate is below 6%.
  • However, risk-averse investors could be better off staying away, as hedging is challenging, and the share price is likely to soar if the company finds a large zone with oxide ore mineralization.

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In August 2022, I wrote a bearish article on SA about U.S. gold miner Hycroft Mining Holding Corporation (NASDAQ:HYMC) in which I said that the company seemed to be stalling the development of its flagship project

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