10-Q Filing

HYCROFT MINING HOLDING CORP CIK: 1718405 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001718405-23-000069`
Period End Date	20230331
Filing Date	20230501
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	hymc-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 40 Cash Flow Statement 65 Stockholders Equity 15

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	1.40B	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$172.78M	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	1.40B	shares	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	1.40B	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$141.98M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$131.99M	USD	Point-in-time
Materials and supplies inventories, net Note 3	`InventoryNet`	$2.75M	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	200.27M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	200.27M	shares	Point-in-time
Materials and supplies inventories, net Note 3	`InventoryNet`	$2.81M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	200.27M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	200.27M	shares	Point-in-time
Prepaids and deposits Note 4	`PrepaidExpenseAndOtherAssetsCurrent`	$2.05M	USD	Point-in-time
Prepaids and deposits Note 4	`PrepaidExpenseAndOtherAssetsCurrent`	$2.84M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$1.53M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$1.53M	USD	Point-in-time
Interest receivable	`InterestReceivableCurrent`	$512.00K	USD	Point-in-time
Interest receivable	`InterestReceivableCurrent`	$459.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$2.77M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Current assets	`AssetsCurrent`	$152.39M	USD	Point-in-time
Current assets	`AssetsCurrent`	$138.82M	USD	Point-in-time
Property, plant and equipment, net Note 5	`PropertyPlantAndEquipmentNet`	$54.38M	USD	Point-in-time
Property, plant and equipment, net Note 5	`PropertyPlantAndEquipmentNet`	$54.83M	USD	Point-in-time
Restricted cash Note 6	`RestrictedCashNoncurrent`	$34.31M	USD	Point-in-time
Restricted cash Note 6	`RestrictedCashNoncurrent`	$33.98M	USD	Point-in-time
Assets held for sale Note 7	`DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent`	$7.15M	USD	Point-in-time
Assets held for sale Note 7	`DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent`	$7.15M	USD	Point-in-time
Prepaids Note 4	`AdvanceRoyaltiesNoncurrent`	$600.00K	USD	Point-in-time
Prepaids Note 4	`AdvanceRoyaltiesNoncurrent`	$600.00K	USD	Point-in-time
Total assets	`Assets`	$235.26M	USD	Point-in-time
Total assets	`Assets`	$248.95M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$4.56M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$5.64M	USD	Point-in-time
Debt, net Note 8	`LongTermDebtCurrent`	$2.33M	USD	Point-in-time
Debt, net Note 8	`LongTermDebtCurrent`	$2.33M	USD	Point-in-time
Contract liabilities - Note 7	`ContractWithCustomerLiabilityCurrent`	$1.05M	USD	Point-in-time
Contract liabilities - Note 7	`ContractWithCustomerLiabilityCurrent`	$1.05M	USD	Point-in-time
Other liabilities Note 9	`OtherLiabilitiesCurrent`	$1.25M	USD	Point-in-time
Other liabilities Note 9	`OtherLiabilitiesCurrent`	$3.01M	USD	Point-in-time
Current liabilities	`LiabilitiesCurrent`	$12.03M	USD	Point-in-time
Current liabilities	`LiabilitiesCurrent`	$9.19M	USD	Point-in-time
Debt, net Notes 8 and 18	`LongTermDebtNoncurrent`	$135.07M	USD	Point-in-time
Debt, net Notes 8 and 18	`LongTermDebtNoncurrent`	$132.69M	USD	Point-in-time
Deferred gain on sale of royalty	`DeferredGainOnSaleOfRoyaltyNoncurrent`	$29.84M	USD	Point-in-time
Deferred gain on sale of royalty	`DeferredGainOnSaleOfRoyaltyNoncurrent`	$29.84M	USD	Point-in-time
Asset retirement obligation Note 10	`AssetRetirementObligationsNoncurrent`	$10.49M	USD	Point-in-time
Asset retirement obligation Note 10	`AssetRetirementObligationsNoncurrent`	$10.30M	USD	Point-in-time
Warrant liabilities Notes 11 and 12	`WarrantsAndRightsOutstandingNoncurrent`	$133.00K	USD	Point-in-time
Warrant liabilities Notes 11 and 12	`WarrantsAndRightsOutstandingNoncurrent`	$786.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$185.65M	USD	Point-in-time
Total liabilities	`Liabilities`	$184.72M	USD	Point-in-time
Commitments and contingencies Note 20	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies Note 20	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.0001 par value; 1,400,000,000 shares authorized; 200,270,659 issued and outstanding at March 31, 2023, and 200,270,659 issued and outstanding at December 31, 2022 Note 12	`CommonStockValue`	$20.00K	USD	Point-in-time
Common stock, $0.0001 par value; 1,400,000,000 shares authorized; 200,270,659 issued and outstanding at March 31, 2023, and 200,270,659 issued and outstanding at December 31, 2022 Note 12	`CommonStockValue`	$20.00K	USD	Point-in-time
Additional paid-in capital Note 12	`AdditionalPaidInCapital`	$734.58M	USD	Point-in-time
Additional paid-in capital Note 12	`AdditionalPaidInCapital`	$733.44M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-670.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-684.06M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$99.29M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$50.54M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$63.31M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$-68.49M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$248.95M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$235.26M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues Note 13	`RevenueFromContractWithCustomerExcludingAssessedTax`	$9.17M	USD	1 Quarter
Revenues Note 13	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	1 Quarter
Production costs	`ManufacturingCosts`	-	USD	1 Quarter
Production costs	`ManufacturingCosts`	$9.58M	USD	1 Quarter
Depreciation and amortization Note 2	`CostDepreciationAmortizationAndDepletion`	$920.00K	USD	1 Quarter
Depreciation and amortization Note 2	`CostDepreciationAmortizationAndDepletion`	-	USD	1 Quarter
Mine site period costs Note 2	`MineSitePeriodCosts`	-	USD	1 Quarter
Mine site period costs Note 2	`MineSitePeriodCosts`	$6.47M	USD	1 Quarter
Total cost of sales	`CostOfGoodsAndServicesSold`	$16.97M	USD	1 Quarter
Total cost of sales	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Mine site period costs Note 2	`MineSitePeriodCostsOperatingExpenses`	-	USD	1 Quarter
Mine site period costs Note 2	`MineSitePeriodCostsOperatingExpenses`	$3.81M	USD	1 Quarter
Projects, exploration, and development	`ResearchAndDevelopmentExpense`	$1.04M	USD	1 Quarter
Projects, exploration, and development	`ResearchAndDevelopmentExpense`	$3.48M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.07M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.34M	USD	1 Quarter
Depreciation and amortization Note 2	`DepreciationNonproduction`	-	USD	1 Quarter
Depreciation and amortization Note 2	`DepreciationNonproduction`	$718.00K	USD	1 Quarter
Accretion Note 10	`AccretionExpense`	$102.00K	USD	1 Quarter
Accretion Note 10	`AccretionExpense`	$186.00K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-11.53M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-12.02M	USD	1 Quarter
Interest expense Note 8	`InterestExpenseDebt`	$5.35M	USD	1 Quarter
Interest expense Note 8	`InterestExpenseDebt`	$4.44M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.94M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Fair value adjustment to warrants Notes 11 and 18	`FairValueAdjustmentOfWarrants`	$-122.00K	USD	1 Quarter
Fair value adjustment to warrants Notes 11 and 18	`FairValueAdjustmentOfWarrants`	$5.32M	USD	1 Quarter
Gain on sale of equipment and supplies inventories	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Gain on sale of equipment and supplies inventories	`GainLossOnSaleOfPropertyPlantEquipment`	$625.00K	USD	1 Quarter
Net loss	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-13.91M	USD	1 Quarter
Net loss	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-22.06M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.27	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.07	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.07	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.27	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	200.27M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	81.20M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	200.27M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	81.20M	shares	1 Quarter

Cash Flow Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-13.91M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-22.06M	USD	1 Quarter
Non-cash portion of interest expense Note 8	`NonCashPortionOfInterestExpense`	$2.96M	USD	1 Quarter
Non-cash portion of interest expense Note 8	`NonCashPortionOfInterestExpense`	$3.83M	USD	1 Quarter
(Gain) loss on fair value adjustment for warrant liabilities Note 11	`FairValueAdjustmentOfWarrants`	$-122.00K	USD	1 Quarter
(Gain) loss on fair value adjustment for warrant liabilities Note 11	`FairValueAdjustmentOfWarrants`	$5.32M	USD	1 Quarter
Depreciation and amortization Note 5	`DepreciationDepletionAndAmortization`	$718.00K	USD	1 Quarter
Depreciation and amortization Note 5	`DepreciationDepletionAndAmortization`	$920.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$401.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$608.00K	USD	1 Quarter
Accretion Note 10	`AccretionExpense`	$102.00K	USD	1 Quarter
Accretion Note 10	`AccretionExpense`	$186.00K	USD	1 Quarter
Gain on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Gain on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$625.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.77M	USD	1 Quarter
Interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	-	USD	1 Quarter
Interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$53.00K	USD	1 Quarter
Production-related inventories	`IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories`	-	USD	1 Quarter
Production-related inventories	`IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories`	$-6.14M	USD	1 Quarter
Materials and supplies inventories, net	`IncreaseDecreaseInRawMaterialsPackagingMaterialsAndSuppliesInventories`	$-62.00K	USD	1 Quarter
Materials and supplies inventories, net	`IncreaseDecreaseInRawMaterialsPackagingMaterialsAndSuppliesInventories`	$-166.00K	USD	1 Quarter
Prepaids and deposits	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-792.00K	USD	1 Quarter
Prepaids and deposits	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.16M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.85M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.08M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-1.75M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$574.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.92M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.82M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$271.00K	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$351.00K	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$711.00K	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	-	USD	1 Quarter
Proceeds from assets held for sale	`ProceedsFromSaleOfPropertyHeldForSale`	-	USD	1 Quarter
Proceeds from assets held for sale	`ProceedsFromSaleOfPropertyHeldForSale`	$1.25M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-271.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.61M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfOtherDebt`	$24.41M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfOtherDebt`	$550.00K	USD	1 Quarter
Principal payments on notes payable	`RepaymentsOfNotesPayable`	$31.00K	USD	1 Quarter
Principal payments on notes payable	`RepaymentsOfNotesPayable`	$32.00K	USD	1 Quarter
Proceeds from issuance of common stock and warrants, net of issuance costs - Note 12	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from issuance of common stock and warrants, net of issuance costs - Note 12	`ProceedsFromIssuanceOfCommonStock`	$190.18M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-582.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$165.74M	USD	1 Quarter
Net (decrease) increase in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$160.44M	USD	1 Quarter
Net (decrease) increase in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-9.67M	USD	1 Quarter
Cash, cash equivalents, and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$207.07M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$175.97M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$166.29M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$46.63M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$207.07M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$175.97M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$166.29M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$46.63M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$172.78M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$141.98M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$131.99M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$34.29M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$34.31M	USD	Point-in-time
Total cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$207.07M	USD	Point-in-time
Total cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$175.97M	USD	Point-in-time
Total cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$166.29M	USD	Point-in-time
Total cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$46.63M	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$99.29M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$50.54M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$63.31M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-68.49M	USD	Point-in-time
Issuance of common stock and warrants Note 14	`StockIssuedDuringPeriodValueIssuanceOfCommonStockAndWarrants`	$189.41M	USD	1 Quarter
Stock-based compensation costs	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$608.00K	USD	1 Quarter
Stock-based compensation costs	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$391.00K	USD	1 Quarter
Vesting of restricted stock units	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$37.00K	USD	1 Quarter
5-Year Private Warrants transferred to 5-Year Public Warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$531.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.91M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-22.06M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$99.29M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$50.54M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$63.31M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-68.49M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.