Earnings Labs

Hycroft Mining Holding Corporation (HYMC)

Q3 2021 Earnings Call· Wed, Nov 10, 2021

$35.90

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Transcript

Operator

Operator

Good day and welcome to the Hycroft Q3 Results Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Tracey Thom. Please go ahead, ma'am.

Tracey Thom

Management

Thank you. Good morning and thank you for joining us. Today, we'll be discussing the business update and third quarter operating results that we issued in a press release this morning, which can be found on our website. On or about November 11, 2021, we plan to file a 10-Q for the period ending September 30, 2021, which will include our financial disclosures for the third quarter. Please read the press release and listen to this call in conjunction with reviewing the form 10-Q which will contain additional disclosures. Also, please note that some information provided during this call may include forward-looking statements that involve risks, uncertainties and assumptions. Even if these restaurant certainties have been materialized or the assumptions proven correct, these results may differ materially from those expressed or implied by such forward looking statements. All statements other than statements of historical facts are statements that could be deemed forward-looking. A discussion of some of the risks and uncertainties and assumptions will be set forth in more detail in our press releases and SEC filings, including the anticipated 10-Q. We assume no obligation and do not intend to update any such forward-looking statements. I'll now I'll turn the call over to Diane Garrett, President and CEO.

Diane Garrett

Operator

Thank you, Tracey. Appreciate that. Good morning, everyone. And thank you for participating today on our call to discuss the business and operating update for the third quarter of 2021. I'm Diane Garrett, President and CEO of Hycroft Mining, and with me today are Stan Rideout, our Executive Vice President and Chief Financial Officer, and Tracey Thom, our Vice President and Corporate Communications and Investor Relations. Once I deliver my initial comments on the news release that we issued today, we will then open the call for questions. And as a reminder, as Tracey just noted that we do intend to file our third quarter financial results on Form 10-Q after the market closes tomorrow, November 11. This new management team has been in place at Hycroft for just over a year. And while all of us joined this company and anticipation of quickly ramping up production to full scale commercial sulphide operations under the novel process, we identified and subsequently disclosed to the market a number of items that must be addressed before any application of this process could be successful, or economic on a commercial basis. While we've been working diligently over the past many months performing the necessary review of that process, conducting additional test work which actually is ongoing and continuing and engaging three independent consultants with expertise in the field of laboratory testing and metallurgy to review and peer reviewed this work independently. Our team is extremely conscientious about de-risking a project up front in order to mitigate execution risk as much as possible. And a big part of that de-risking involved the ongoing variability and mineralogy work across all the domains of the Hycroft ore body because that is absolutely critical to any mining operation, and must be completed before commercial start-up begins. So…

Operator

Operator

Diane Garrett

Operator

Okay, thank you, operator. Well, that's amazing. We've either answered everybody's questions with our comments, because we do have quite a number of people on the call today. And I want to thank you all for joining us. If you would like to follow up, I think everybody's got our contact information, it can be found on the press release, please reach out to us. And we'd be more than happy to answer any questions you have. So as I mentioned earlier, we are hard at work conducting all the necessary work to develop the best long term plan for Hycroft. And we really appreciate the support and patience of all of our shareholders and stakeholders as we look forward to delivering this plan that provides that value for our shareholders. Before I say goodbye to everybody, I’d like to get on with your day. I also want to thank the entire team at the Hycroft mine for their hard work. And we could not have made the significant improvements outside without their commitment and dedication to safety and operational improvement, while at the same time navigating through the challenges of the novel process. I'd also like to thank Jack Henris for his guidance on the mining and Mr. David Kirsch for his leadership of Chairman of Hycroft. So thank you very much for joining us today. And please do visit our website and reach out to us with any questions that you may have. Have a wonderful day everybody. Thank you.

Operator

Operator

This concludes today's call. Thank you for your participation. You may now disconnect.