A Nevada gold and silver explorer sitting on a huge 62,000+ acre mine site, but it's still in development—no commercial production yet, just drilling and permitting.
No revenue at all; the company burns cash, with net losses of USD -0.04B in 2025 and USD -0.06B in both 2024 and 2023. Money only comes from financing, not operations.
No visible moat—gold is a commodity, and the Hycroft deposit faces direct competition from established Nevada producers like Newmont and Barrick, who have lower costs and proven extraction.

Key events, in time order
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