Hycroft 2026 S-K 1300 Initial Assessment economics

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# Hycroft 2026 S-K 1300 Initial Assessment economics

Source: https://hycroftmining.com/news/hycroft-delivers-10-billion-npv-from-technical-report-at-spot-prices-while-advancing-high-grade-brimstone-and-vortex-silver-discoveries
Published: 2026-06-02T00:00:00+00:00
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# Hycroft 2026 S-K 1300 Initial Assessment economics
Source: https://hycroftmining.com/news/hycroft-delivers-10-billion-npv-from-technical-report-at-spot-prices-while-advancing-high-grade-brimstone-and-vortex-silver-discoveries
Published: 2026-06-02
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home > News > Press release
# Hycroft Delivers $10 Billion NPV from Technical Report at Spot Prices While Advancing High-Grade Brimstone and Vortex Silver Discoveries
- June 2, 2026
- [Download Press Release](https://hycroftmining.com/wp-content/uploads/nr-20260602.pdf)
WINNEMUCCA, Nev., June 2, 2026 /PRNewswire/ — Hycroft Mining Holding Corporation (Nasdaq: HYMC) (“Hycroft” or “the Company”), is pleased to announce the results from its S-K 1300 Technical Report Summary and Initial Assessment (the “TRS”), which outlines the economics and mine plan for a milling operation utilizing conventional pressure oxidation (“POX”) and heap leach processing at the Hycroft Mine in Nevada, USA. All amounts are in US dollars, and all figures are presented in US customary units.
The TRS demonstrates that Hycroft hosts a large-scale, long-life precious metals project with compelling economics and strong leverage to rising gold and silver prices, reinforcing its position as a multi-generational, world-class asset in a Tier-1 jurisdiction. The TRS is being filed concurrently with the SEC on EDGAR and is available on the Company’s [website](https://hycroftmining.com/hycroft-mine/overview/).
**Basis of the Technical Report**
- Base case commodity prices: $3,600 per ounce for gold and $48.00 per ounce for silver
- Spot prices(1): $4,569 per ounce of gold and $77.94 per ounce of silver
- Mine plan based on the 2026 Mineral Resource Estimate (16.4 million ounces of gold and 562.6 million ounces of silver Measured and Indicated)
- Inferred mineral resources of 5.0 million ounces of gold and 132.8 million ounces of silver are not included in the mine plan and represent an upside to the TRS economics
- Drill results from the 2025-2026 exploration program are not included in the mine plan and represents further upside
**Highlights:**
- **Robust Economics Demonstrate the Scale and Value of the Hycroft Mine:**
- Base Case Net Present Value at 5% (“NPV5“) of **$5.4 billion** (pre-tax) and **$4.3 billion** (post-tax)
- Internal Rate of Return (“IRR”) of **18.9%**(pre-tax) and **16.9%**(post-tax)
- NPV5 at spot prices of **$10.0 billion** and IRR of **30.1%** (post-tax)
- Post-Tax Payback: **4.7 years** at Base case prices and **2.9 years** at spot prices
- Gross revenues: **$54.2 billion** at Base case prices
- **Significant Leverage to Commodity Prices:**
- For every $100 increase in gold price per ounce, the post-tax NPV5 increases by **$300 million**
- For every $5.00 increase in silver price per ounce, the post-tax NPV5 increases by **$460 million**
- **Multi-Decade Production Profile at Meaningful Scale:**
- **51 year** mine life
- Average annual production:
- **204,000 ounces** of gold
- **6.8 million** **ounces** of silver
- **295,000** **ounces** gold equivalent(2) (“AuEq”)
- First 10 years deliver enhanced production averaging more than **330,000 ounces** AuEq
- Life of Mine (“LOM”) production:
- **10.4 million ounces** of gold
- **347.5 million ounces** of silver
- **15.1 million ounces** AuEq
- **Conventional Plant Design, Layout and Processing:**
- Proven POX processing technology
- Existing infrastructure on-site allows for reduced capital expenditures
- Plant designed to process 57,100 tons per day of mineralized material
- LOM average cash cost(3) of $1,924 per ounce AuEq and all-in sustaining cost (“AISC”)(4) of $2,147 per ounce AuEq
- Initial capital costs: $2.4 billion and LOM sustaining capital costs of $3.1 billion
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| (1) Spot prices for gold and silver as of May 25, 2026 |
| (2) Silver is converted to AuEq using the ratio of $48.00/oz Ag to $3,600/oz Au |
| (3) Cash costs consist of mining costs, processing costs, mine-level G&A, and refining charges and royalties |
| (4) All-in sustaining costs includes cash costs plus sustaining capital and closure costs |
**Significant Upside and Optionality Remains:**
- Potential mine plan upside opportunities include:
- Further drilling to reclassify waste and inferred gold and silver resources to measured and indicated resources enabling integration into future mine plans
- Accelerated access to high-grade zones at Brimstone and Vortex early in the mine life through targeted optimization
- Combining underground mine option alongside the open pit benefiting from large scale production and bringing high-grade ounces forward earlier in the mine life
- New oxide targets have been identified for potential heap leach early in the mine life
- Extending mine life or expanding production by processing stockpiled low-grade mill feed material within the current mine plan but not included in the economic analysis
- Current mineral resource comprises less than 15% of the +64,000-acre land position as the Hycroft system remains open in all directions and at depth for future growth
- New exploration targets identified for potential resource expansion opportunities including high-grade and oxide targets
- Significant drilling campaign underway with two core drill rigs at Brimstone and Vortex, increasing to four core drill rigs over the next quarter to expand and define these two high-grade systems that currently remain open in all directions and at depth
- Roasting test work is pending as an alternative processing option which could potentially enhance project economics including potentially adding a meaningful third revenue stream from the by-product production and sale of sulfuric acid, a strategically important industrial chemical
Diane R. Garrett, Executive Chairman and Chief Executive Officer, commented: “This Technical Study confirms the scale, quality, and long-term potential of the Hycroft Mine. The project delivers strong economics and significant leverage to rising gold and silver prices, reinforcing Hycroft’s position as one of the sector’s most compelling large-scale development opportunities, located in a Tier 1 jurisdiction.
Importantly, we believe the most meaningful value creation opportunity remains ahead of us. By advancing the high-grade Brimstone and Vortex silver systems, we see a clear path to further improving project economics and unlocking additional value. The Hycroft land package remains a highly prospective environment, and we believe we are only at the beginning of demonstrating its true potential.”
For additional context on the TRS, please visit our pre-recorded [event](https://linkprotect.cudasvc.com/url?a=https://6ix.com/event/hycroft-mining-market-update-june-2026&c=E,1,TTNsYz1MW85WaQ1LuY46x62bANmdF8bp4Z7Tzy21YJaT7HOwEv9wO8wQDYDmfbMecyTRNO5zJUwez5ZT9J9tl8UXqPiaEUGcxr0RHdBX_FSu&typo=1) with 6ix.
**_About_** **_Hycroft_** **_Mining_** **_Holding_** **_Corporation_**
Hycroft Mining Holding Corporation is a US-based gold and silver company exploring and developing the Hycroft Mine, among the world’s largest precious metals deposits, located in northern Nevada, a Tier-1 mining jurisdiction. Hycroft is engaged in a robust exploration drill program (2025-2026 exploration drill program) to expand and advance the two new high-grade silver systems – Brimstone and Vortex. These discoveries represent a significant value driver for the Hycroft Mine.
For further information, please contact:
E: [info@hycroftmining.com](mailto:info@hycroftmining.com)
Investor Relations Phone: 775-245-0564
[www.hycroftmining.com](http://www.hycroftmining.com/)
Media: Tavistock, Jos Simson / Emily Moss
E: [hycroft@tavistock.co.uk](mailto:hycroft@tavistock.co.uk)
Phone: +44 207 920 3150
**_Cautionary Statements Regarding the Initial Assessment and Mineral Resources_**
The Initial Assessment is a preliminary technical and economic study that indicates the economic potential of the mineralization to support the disclosure of mineral resources at the Hycroft Mine. The Initial Assessment, however, does not represent a feasibility study or a pre-feasibility and does not demonstrate economic viability nor does it support a development decision, for which additional project planning and design are needed. As a result, Hycroft plans to continue to estimate its resources at the Hycroft Mine and further develop the project economics.
As used in this news release, the terms “pre-feasibility study,” “feasibility study,” “initial assessment,” “mineral reserve,” “mineral resource,” “measured mineral resource,” “indicated mineral resource” and “inferred mineral resource”, as applicable, and other terms used herein are defined and used in accordance with S-K 1300.
The Initial Assessment also does not include the conversion of mineral resources to mineral reserves. Under subpart 1300 of Re
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