Hycroft Mining Reports High Gold Grades at Nevada Mine
What happened
Hycroft Mining reported drilling the highest gold grades yet at its Nevada mine, with one hole cutting 19.6 metres grading 30.49 grams gold per tonne and 1,726.72 grams silver from 416.5 metres at Vortex. The company stated that the high grades and longer intercepts suggest they may be near a potential source of the Vortex system. Following the announcement, Hycroft’s shares dropped 7.2% to $16.30.
From mining.com
Why it matters
The discovery of high-grade material suggests potential for underground mining to bring richer material into production ahead of a larger open-pit development, although the economics of this option have not been established. An analyst noted potential upside in a previous note that estimated a $3.4-billion construction cost for the broader milling project.
From mining.com
Who's involved
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- VortexSpeculative
The high-grade discovery could confirm the resource viability of the Vortex system, potentially affecting future investment and revenue.
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The entities involved
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Nevada
state of the United States of America
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Vortex
US record label; jazz imprint of Atlantic Recording Corporation