Hycroft Mining glitters after completing share sale

Hycroft Mining Holding

28/03/2022 19:37

(Updates stock activity)
    ** Hycroft Mining's  HYMC.O  shares jump 88% to session high
$2.40 on Mon after co said it completed its equity raise
    ** HYMC is the most active stock across U.S. exchanges with
303.5 mln shares having traded, more than triple the 10-DMA
volume, per Refinitiv data
    ** HYMC is also the most watched stock on retail trader
forum Stocktwits
    ** Northern Nevada mine owner late Fri said it sold ~89.6
mln shares for gross proceeds of ~$138.6 mln through previously
announced at-the-market (ATM) equity program  urn:newsml:reuters.com:*:nPn6plbBGa
    ** Earlier this month, co filed $500 mln ATM alongside AMC
Entertainment's  AMC.N  and precious-metals investor Eric
Sprott's agreement to each buy stakes of ~$28 mln in the miner
 urn:newsml:reuters.com:*:nL3N2VI3XH
    ** Avg price of shares sold by HYMC equates to ~$1.55, per
Reuters calculation
    ** Co has ~196.8 mln shares outstanding following all sales
under ATM program
    ** With move on the session, HYMC up ~650% this month amid
social-media induced rally
    ** Meanwhile, AMC's shares are also soaring ~30% on Mon as
its top boss says to script more meme-stock powered deals
 urn:newsml:reuters.com:*:nL3N2VV3RO  urn:newsml:reuters.com:*:nL2N2VU0HI

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))