What Happened to Hycroft Mining Holding?
Ticker: HYMCSPAC Year: 2018
Return
+221.7%
Current Price
$3
Peak Price
$161.71
Trust Size
$263M
Summary
Hycroft Mining holds one of the largest gold and silver deposits in the US at its Hycroft Mine in northern Nevada. The company went public via SPAC merger with Mudrick Capital Acquisition Corp in 2020. AMC Entertainment and Eric Sprott famously invested $56 million in 2022.
What Happened
Mudrick Capital Acquisition Corp merged with Hycroft Mining in 2020. The mine requires significant capital investment to become commercially viable using a novel oxidation process. In 2022, AMC CEO Adam Aron and Eric Sprott each invested $28M, briefly making it a meme stock. Hycroft has struggled with financing and the stock trades at low single digits. It was misclassified as bankrupt.
Timeline
2018-01-26
S-1 Registration Filed