24 Jan 2011quarterly activities report● Neutral
Hycroft Mining Corp reported a quarterly net income of $6.6 million for the period ended 2010-12-31.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
19 Jan 2011substantial holder notice● Neutral
Goodman & and 1 other disclosed a new substantial Hycroft Mining Corp shareholding (10.71% of votes).
11 Jan 2011substantial holder notice● Neutral
Royce & Associates, LLC reported a Hycroft Mining Corp shareholding of 6,857,229 shares (7.71% of votes) in a periodic institutional filing.
11 Jan 2011quarterly activities report● Neutral
Hycroft Mining Corp reported a quarterly net income of $6.6 million for the period ended 2010-12-31.
7 Jan 2011drilling result▲ Good
The company reported more Hasbrouck results (best 30 meters at 1.02 g/t gold equivalent) and said the 2010 program finished with 14 holes totaling 2,202 meters; results for 12 holes have been released, with two pending. It expects a revised resource estimate and a preliminary economic assessment in Q1 2011, and plans to resume drilling in January 2011 with a 10,000-meter goal using four rigs. This continues the Hasbrouck thread and moves the resource and assessment timing to Q1 2011. These are drill results, not a resource change.
14 Dec 2010drilling result▲ Good
The company reported phase II drilling at its wholly owned Hasbrouck Mountain property, best 75 meters at 1.53 g/t gold equivalent and 50 meters at 2.2 g/t, which it says exceed the average grades of the current resource. Eight of a planned 14 holes are done, with four assays pending. A year-end resource calculation is expected in February 2011 and a preliminary economic assessment in early 2011. This continues the earlier three-hole Hasbrouck program and expands it. The old 2006 resource (459,000 oz gold) is still the only resource cited, and these are drill results only.
19 Nov 2010drilling result▲ Good
The company reported more North Brimstone drilling at Hycroft, best 40 meters at 2.17 g/t gold equivalent and 37 meters at 1.32 g/t. The company says these are higher than the average reserve grades being mined in the area. The zone now measures about 300 x 185 meters (up from ~250 x 185 in September), still outside the current reserve pit, and the results will go into the year-end resource and reserve update, which it expects to issue in February 2011. Year to date, 321 holes (80,539 m) have been drilled with nine rigs and 30 more holes planned for Q4. This continues the September North Brimstone results; the six additional holes then planned have effectively been followed up. These are drill results, not a change to reserves or resources.
5 Nov 2010quarterly activities report● Neutral
Hycroft Mining Corp reported a quarterly net income of $3.1 million for the period ended 2010-09-30.
5 Nov 2010quarterly activities report● Neutral
Hycroft Mining Corp reported a quarterly net income of $3.1 million for the period ended 2010-09-30.
28 Oct 2010substantial holder notice● Neutral
Goodman & and 1 other disclosed a new substantial Hycroft Mining Corp shareholding (14.51% of votes).
22 Oct 2010drilling result▲ Good
Two press releases were furnished. The first reports three more Vortex zone holes at Hycroft, best 166 meters at 1.51 g/t gold equivalent; the zone is now defined over 900 x 850 meters, 296 holes (73,793 m) have been drilled this year, and 15 Vortex infill holes remain. Management says it expects the drilling to expand the known resource and convert a significant amount of inferred resource, which is an expectation, not a result. The second gives preliminary Q3 2010 sales of 30,585 oz gold and 69,365 oz silver at about $416 cost of sales per oz of gold sold. Year-to-date gold sales are 80,584 oz at about $406, and the mine remains on track for 100,000 oz of gold at $400-$450 for 2010. Full Q3 results are due November 5, 2010. This continues the Vortex drilling and the Q2 operating results, and the quarterly figures are preliminary.
29 Sept 2010drilling result▲ Good
The company reported oxide drilling in the Central Zone next to the historically mined Central Pit at Hycroft, with highlights of 32 meters at 2.20 g/t gold equivalent and 62 meters at 1.59 g/t. It says recent interval grades are above those of the current oxide resource, and the 100-hole program aims to upgrade the inferred oxide resource. 279 holes (67,309 meters) have been drilled this year. This is a new drilling thread alongside Vortex and North Brimstone; these are drill results, not a change to resources.
9 Sept 2010drilling result▲ Good
The company reported drilling in a new area, North Brimstone at Hycroft, with highlights of 36 meters at 3.13 g/t gold equivalent and 50 meters at 1.01 g/t. The company says these are higher than the average proven and probable reserve grades and the area is outside the current reserve pit; assays suggest potentially oxide leachable material. It plans six more holes there, aiming to expand the resource in this area by year-end. These are drill results, not a change to reserves or resources.
27 Aug 2010drilling result▲ Good
Three more Vortex zone holes at Hycroft were reported, with highlights of 177 meters at 2.58 g/t gold equivalent, 134 meters at 1.4 g/t and 173 meters at 2.18 g/t. The company says it believes the data will lead to a resource increase and an upgrade of current inferred resources, which is management's expectation rather than a result. The drill fleet has been expanded to eight rigs, and 263 holes (63,468 meters) have been drilled this year. This continues the Vortex drilling; the mid-year resource update promised earlier is not mentioned in this release.
9 Aug 2010quarterly activities report● Neutral
Hycroft Mining Corp reported a quarterly net income of $20.8 million for the period ended 2010-06-30.
6 Aug 2010quarterly activities report● Neutral
Hycroft Mining Corp reported a quarterly net income of $20.8 million for the period ended 2010-06-30.
3 Aug 2010substantial holder notice● Neutral
Goodman & and 1 other disclosed a new substantial Hycroft Mining Corp shareholding (20.00% of votes).
13 July 2010drilling result▲ GoodMajor
The company reported three more Vortex holes at Hycroft, including 456 meters at 1.58 g/t gold equivalent and 255 meters at 2.33 g/t, and said the zone has been defined by over 70 holes with about 900 meters of strike length. A second release gave preliminary Q2 2010 results: record sales of about 29,600 ounces of gold and 64,000 ounces of silver, at an expected cost of sales around $400 per ounce of gold sold, with year-to-date sales of about 50,000 ounces of gold. Production in the quarter was 30,500 ounces of gold, and the mine is described as on track for its 100,000-ounce gold production guidance. The quarterly figures are preliminary and the filing text is cut off partway through the guidance cost range. This continues the Vortex drilling and the operating ramp-up at the Hycroft heap leach.
30 June 2010drilling result▲ Good
Three more Vortex zone holes at the wholly owned Hycroft mine were reported, the best being 165 meters at 1.9 g/t gold equivalent (0.77 g/t gold, 64.74 g/t silver). The company says the Vortex zone remains open in several directions. It plans 164 holes (64,000 meters) in the second half of 2010, with the drill fleet going to eight rigs by mid-July, and a mid-year resource update expected in Q3 2010. This continues the earlier Vortex results and expands the drill plan from the six rigs mentioned in June. These are drill results, not a change to reserves or resources.
17 June 2010drilling result▲ Good
The company reported results of its three-hole Hasbrouck Mountain program: final assays improved the first hole to 120 meters at 2.22 g/t gold equivalent, with the other two at 1.15 and 1.2 g/t. All three are higher grade than the property's average resource grade. It plans about 100,000 meters of drilling at Hycroft in 2010 with six rigs, and 5,000 meters at Hasbrouck, Contact and Wildcat, with Contact drilling to start in early July. This completes the preliminary Hasbrouck results from May.
25 May 2010securities registration● Neutral
Hycroft Mining Corp filed a prospectus supplement for an offering off its existing shelf.
17 May 2010securities registration● Neutral
Hycroft Mining Corp filed a prospectus supplement for an offering off its existing shelf.
17 May 2010material agreement● NeutralMajor
On May 17, 2010 the company agreed to sell 13,000,000 shares at Cdn$21.00 each to a syndicate of underwriters including Cormark and GMP, with an option for 1,800,000 more; commission is 6.2%. Closing was expected June 3, 2010. Gross proceeds would be about Cdn$273 million before the option (calculated from the stated figures), and the new shares dilute existing holders. The filing does not state how the money will be used. This follows the Cdn$9.00 offering of August 2009.
14 May 2010drilling result▲ Good
The first core hole at the Hasbrouck Mountain project near Tonopah, Nevada returned 110 meters at 1.45 g/t gold (silver assays not yet complete). A follow-up Vortex hole at Hycroft returned 130 meters at 1.73 g/t gold equivalent, including 10 meters at 9.05 g/t. Hasbrouck is an exploration property with a historical indicated resource of 459,000 ounces of gold per a 2006 report. Results are preliminary and do not change reserves.
12 May 2010securities registration● Neutral
Hycroft Mining Corp filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
10 May 2010quarterly activities report● Neutral
Hycroft Mining Corp reported a quarterly net income of $3.7 million for the period ended 2010-03-31.
10 May 2010quarterly activities report● Neutral
Hycroft Mining Corp reported a quarterly net income of $3.7 million for the period ended 2010-03-31.
7 May 2010drilling result▲ Good
Two more Vortex zone holes at Hycroft were reported: 172 meters at 3.4 g/t gold equivalent and 41 meters at 2.43 g/t gold equivalent. The company says the first hole extends the known Vortex system about 275 meters west and that mineralization remains open in several directions. This continues the January 2010 Vortex results, and more holes are planned. These are drill results, not a change to reserves or resources.
28 Apr 2010substantial holder notice● Neutral
Goodman & and 1 other disclosed a new substantial Hycroft Mining Corp shareholding (15.65% of votes).
1 Apr 2010resource reserve update▲ GoodMajor
The company published updated reserve and resource figures for the wholly owned Hycroft mine. Proven and probable gold reserves rose to 2.4 million ounces from 1.1 million ounces in March 2009, and a first silver reserve of 32.3 million ounces was set. Measured and indicated gold equivalent resources rose 28% to 10.3 million ounces. Inferred gold resources fell to 3.9 million ounces from 6.0 million, which the release says was expected as much of it was converted to higher categories. This follows the infill drilling program (129 holes in 2009) and the earlier Vortex results. A technical report is still to be filed.