77% of Hycroft (HYMC) Is Now Owned by Retail
What percent of retail investors now own Hycroft Mining Holding Corporation (NASDAQ:HYMC)?
The silver and gold mine company reports that 77.2% of the company is now owned by retail investors, a result of AMC Entertainment taking a 22% stake in the company last year.
But retail investors have bought up shares in the past year now becoming the dominant stakeholder in Hycroft.
AMC Entertainment now has 11.7% ownership, while Hyrcoft reports Eric Sprott, billionaire and precious metals investor holds a 9.2% stake.
Mudrick Capital, known for their contrarian investing, holds the least ownership at 1.9%.
In December of 2022, news surfaced that the company had discovered more gold, and more silver than anticipated.
AMC CEO Adam Aron made the exciting announcement on Twitter stating, “so far ALL 20 of the newly drilled bores contained gold/silver, and 14 of the 20 showed higher grades than previously known to Hycroft.
Statements
Alex Davidson, Vice President, Exploration made the following statement:
“The initial drilling campaign has focused on higher-grade opportunities primarily in the Brimstone, Vortex, and Central zones.
All 20 RC drill holes reported to date have returned ore grade mineralization, of which 14 holes have outperformed the model resulting in higher grades than previously estimated or known.
The results to date are very exciting as we established continuity between the higher-grade zones along structures.
In addition, we continue to enhance the project economics through in-fill drilling that have demonstrated mineralization in areas previously considered to be waste.”
Diane R. Garrett, President & CEO said the second phase of the drill program will continue through the first half of 2023.
“Once permits are received, we will be stepping out beyond the known resource area and drilling prospective high-grade targets identified within our vast land position.”
Latest HYMC Stock News
The company seems rather confident where they stand in 2023.
On Wednesday, CEO Diane Garrett said on Twitter, “with a measured & indicated resource of over 10M ounces of gold and 360M of silver, $142M in cash, a successful and ongoing drill program, and engineering studies nearing the final stage, @HycroftMining is well-positioned to deliver value for our shareholders!”
Hycroft (HYMC) has also been selling collectible coins, gold bars, and merchandise to investors which has also contributed to the company’s revenue.
HYMC stock is up +8% in the past month, down more than -21% this year-to-date, and down more than -95% since its inception.
An annual meeting of stockholders will be held on May 24, 2023.
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