HYMC · 10-Q · 2026Q1 · Full report
Liquidity and Cash Position
HYCROFT MINING HOLDING CORP · 2026-04-28 · Importance 61 · Surprise 32
The Company reported unrestricted cash of $189.0 million at March 31, 2026, up from $181.7 million at December 31, 2025, and placed substantially all cash in AAAm rated U.S. Government Money Market Funds. During Q1 2026 the Company received material proceeds from warrant exercises (net proceeds of ~$40.7 million from Private Placement warrants and ~$2.8 million from Public Offering warrants) which supported cash balances. Management states the Company does not expect to generate net positive cash from operations for the foreseeable future and will be dependent on unrestricted cash and other sources of cash to fund the business. The Company continues to monitor metal prices, manage discretionary spending, and evaluate alternatives to raise additional capital to maintain adequate funding for its exploration and development activities.
Key facts
- The total gross contractual cash obligations presented as of March 31, 2026 were $358,724 thousand, with $6,608 thousand due in less than one year and $352,094 thousand due in more than five years.
- Cash, cash equivalents, and restricted cash at the beginning of the period was $204,231 thousand for the three months ended March 31, 2026.
- The projected sources of future liquidity at December 31, 2025 were $226,695 thousand.
- As of March 31, 2026, cash and cash equivalents were $189,014 thousand, assets held-for-sale were $2,893 thousand, and total projected sources of future liquidity were $193,199 thousand.
- Net cash provided by financing activities was $39,261 thousand for the three months ended March 31, 2026.
- The Company’s unrestricted cash position at March 31, 2026 was $189.0 million compared with $181.7 million at December 31, 2025.
- The Company continued to strengthen its liquidity position with a strong cash position and a debt-free balance sheet as of the report.
- Interest income for the three months ended March 31, 2026 totaled $1.896 million compared to $0.7 million for the same period in 2025, primarily due to an increase in invested cash.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | negative | committed | -113.0% | The total gross contractual cash obligations presented as of March 31, 2026 were $358,724 thousand, with $6,608 thousand due in less than… |
| cash | positive | realized | +2.7% | The Company’s unrestricted cash position at March 31, 2026 was $189.0 million compared with $181.7 million at December 31, 2025. |
| cash | positive | realized | — | As of March 31, 2026, cash and cash equivalents were $189,014 thousand, assets held-for-sale were $2,893 thousand, and total projected… |
| liability | positive | realized | — | The Company continued to strengthen its liquidity position with a strong cash position and a debt-free balance sheet as of the report. |
| net_income | positive | realized | — | Interest income for the three months ended March 31, 2026 totaled $1.896 million compared to $0.7 million for the same period in 2025,… |
| cash | positive | realized | — | The Company monetized non-core equipment and excess supplies inventories and sold uninstalled mills not expected to be needed for a future… |