HYCROFT MINING HOLDING CORP SEC 10-Q Report

Hycroft Mining Holding Corp, a precious metals development company focused on the exploration, mining, and production of gold and silver, has released its Form 10-Q report for the third quarter of 2025. The report highlights significant improvements in financial performance and outlines key operational developments and future plans.

Financial Highlights

• Net Loss: $(9.4) million for the three months ended September 30, 2025, compared to $(14.2) million for the same period in 2024, reflecting a reduction in losses due to lower operating expenses.
• Net Loss: $(32.9) million for the nine months ended September 30, 2025, compared to $(48.2) million for the same period in 2024, indicating improved financial performance.
• Net Loss Per Share: $(0.22) for the three months ended September 30, 2025, compared to $(0.59) for the same period in 2024, showing a decrease in loss per share.
• Net Loss Per Share: $(1.04) for the nine months ended September 30, 2025, compared to $(2.13) for the same period in 2024, highlighting a significant improvement.
• Operating Expenses: $7.3 million for the three months ended September 30, 2025, compared to $11.7 million for the same period in 2024, due to reduced exploration and development costs.
• Operating Expenses: $25.8 million for the nine months ended September 30, 2025, compared to $34.2 million for the same period in 2024, reflecting cost management efforts.
• Interest Income: $1.1 million for the three months ended September 30, 2025, compared to $1.0 million for the same period in 2024, due to interest earned on cash balances.
• Interest Income: $2.5 million for the nine months ended September 30, 2025, compared to $3.4 million for the same period in 2024, reflecting a decrease in investment interest.
• Interest Expense: $(3.6) million for the three months ended September 30, 2025, compared to $(3.3) million for the same period in 2024, primarily due to debt servicing costs.
• Interest Expense: $(10.4) million for the nine months ended September 30, 2025, compared to $(16.6) million for the same period in 2024, reflecting reduced debt-related costs.

Business Highlights

• Exploration and Development: The company initiated the 2025-2026 Exploration Drill Program, focusing on high-grade silver zones in Brimstone and Vortex. Approximately 2,450 meters of drilling have been completed since August 2025, with assay results pending. This program aims to expand high-grade silver mineralization and refine the structural framework for an updated geologic model.
• Metallurgical and Variability Test Work: Significant progress was made in metallurgical work and engineering for designing a sulfide milling operation. The company is testing composite samples to improve gold and silver recoveries and is evaluating roasting technology as a potential alternative to pressure oxidation.
• Safety Performance: The company reported no lost time incidents during the nine months ended September 30, 2025, maintaining a total recordable injury frequency rate (TRIFR) of 0.00. The Nevada Mining Association awarded Hycroft the 2025 first place NVMA Operator Safety Award for small surface mines.
• Future Outlook: The company plans to continue its exploration efforts, focusing on high-grade opportunities and completing technical studies. Key plans include assessing high-grade underground mining scenarios, evaluating heap leaching operations, and conducting trade-off studies for sulfide conversion processes.
• Operational Strategy: The company is prioritizing exploration drilling, data analysis, and advancing technical studies to determine optimal processing methods for sulfide ores. It is also exploring strategic initiatives to enhance stockholder value.
• Geophysical and Geochemical Integration: The exploration team is integrating geochemistry, mapping, and geophysics to support the 2025-2026 Exploration Drill Program, aiming to unlock broader mineral resource potential.
• Heap Leaching Evaluation: Considering increased gold and silver prices, the company is evaluating the feasibility of restarting heap leaching operations and rehandling material from the historic Crofoot leach pad.
• Balance Sheet Strengthening: The company focused on reducing debt and strengthening its balance sheet, successfully eliminating its debt by October 15, 2025, positioning itself to fund the advancement of the Hycroft Mine.

SEC Filing: HYCROFT MINING HOLDING CORP [ HYMC ] - 10-Q - Oct. 28, 2025