The investment from AMC is a much-needed boost for Denver-based Hycroft Mining, which is trying to get the mine up and running on a sustainable, commercial basis. Hycroft’s 71,000-acre mine in northern Nevada has 15 million ounces of gold deposits and 600 million ounces of silver, AMC said, pointing to third-party studies.
Shares of Hycroft, which reported $31.7 million in revenue for the third quarter of 2021, surged 96% to $2.73 in premarket trading at 9:03 a.m. in New York. AMC rose 4.1% to $14.12.
AMC Chief Executive Officer Adam Aron, known for his brash pronouncements as his company’s shares ran up 1,183% last year in volatile trading, cited the box-office success of “Spider-Man: No Way Home” and “The Batman” as boosting AMC’s confidence in its recovery from pandemic-era struggles.
“Our strategic investment being announced today is the result of our having identified a company in an unrelated industry that…
