Hycroft Mining Holding Corporation (NASDAQ:HYMC) saw its shares trade higher in premarket activity, up 4.2% on Wednesday after the company disclosed a sizable increase in its mineral resource estimates. The Nevada-based miner filed a third-party independent Technical Report with an effective date of January 21, 2026, revising its Mineral Resource estimate.
The updated assessment lists measured and indicated resources of 16.4 million ounces of gold and 562.6 million ounces of silver. Those totals reflect a 55% increase in both gold and silver within the measured and indicated categories compared with the prior reported figures.
Hycroft further reported growth in inferred resources, with inferred gold rising by 50% and inferred silver increasing by 38%. In addition, the company established an initial high-grade silver resource of 90.2 million ounces in the measured and indicated classifications.
The resource expansion follows about 14 months of drilling activity that began after the discovery of two new high-grade silver systems at the property. Hycroft said those newly identified systems remain open both along strike and at depth, which the company noted as indicating potential for additional resource expansion beyond the current estimate.
Metallurgical test work included in the filing showed recoveries of 83% for gold and 78% for silver. The company is evaluating processing alternatives, specifically pressure oxidation and roasting. The filing noted that a roasting route could produce sulfuric acid as a by-product, potentially creating an additional revenue stream.
The updated mineral resource estimate was compiled using commodity price assumptions of $3,100 per ounce for gold and $36 per ounce for silver. Those price inputs underpinned the cut-off and valuation parameters used in the Technical Report.
Investors reacted to the revised resource numbers in the premarket session, with the stock moving higher following publication of the report. The Technical Report was prepared by an independent third party and filed by the company with an effective date of January 21, 2026.
Clear summary
Hycroft filed an independent Technical Report effective January 21, 2026, that increases measured and indicated gold and silver resources by 55% to 16.4 million ounces of gold and 562.6 million ounces of silver, adds an initial 90.2 million-ounce high-grade silver measured and indicated resource, reports inferred resource gains, and documents metallurgical recoveries of 83% for gold and 78% for silver. The stock rose 4.2% in premarket trading after the announcement.
Key points
- Measured and indicated resources increased by 55% for both gold and silver, now totaling 16.4 million ounces of gold and 562.6 million ounces of silver.
- Inferred resources rose 50% for gold and 38% for silver, and an initial high-grade silver M&I resource of 90.2 million ounces was reported.
- Metallurgical recoveries were documented at 83% for gold and 78% for silver; processing options under review include pressure oxidation and roasting, with roasting potentially yielding sulfuric acid as a by-product.
Risks and uncertainties
- Resource expansion remains contingent on ongoing drilling, as the newly discovered high-grade silver systems are reported to be open along strike and at depth - further work is required to convert potential into additional measured and indicated ounces.
- Final process selection is undetermined; Hycroft is evaluating pressure oxidation and roasting, and the choice of metallurgical route will affect recoveries and potential by-product revenues.
- The mineral resource estimate is based on assumed commodity prices of $3,100/oz for gold and $36/oz for silver - changes in market prices could affect the economic and reporting parameters used in the estimate.