Eric Sprott purchased 150,000 shares of Hycroft Mining Holding Corp. (HYMC) on Friday, February 20, 2026, as disclosed in a filing released on February 24, 2026. The shares were bought at $42.05 each, for a total investment of $6.307 million, bringing Sprott’s holdings to 36.9 million shares and an estimated 44.45% ownership of the company.
The purchase followed Hycroft’s February 18 announcement of a 55% increase in its measured and indicated gold and silver resource estimate. The upgrade, driven by new drill holes and improved metallurgy, added a high‑grade underground silver component and expanded the company’s already sizable precious‑metal deposit.
Hycroft is a development‑stage miner that has transitioned from historical heap‑leach operations to a planned milling operation for sulfide ores. The company reports a strong balance sheet with roughly $200 million in cash and no debt, but it has yet to generate revenue and continues to burn capital as it builds its processing plant.
Sprott’s stake now approaches a controlling interest, giving him significant influence over strategic decisions. His continued buying activity signals deep conviction in Hycroft’s long‑term prospects and may encourage additional capital inflows or partnership opportunities.
The resource upgrade and Sprott’s backing provide key tailwinds, but the company still faces headwinds: it remains a cash‑burning, revenue‑free entity, and the capital intensity of the milling transition poses execution risk. Investors are weighing the upside of a larger, higher‑grade resource against the valuation premium and development uncertainty.
CEO Diane Garrett noted that the resource growth "is impressive in what is already among the world’s largest precious‑metal deposits," underscoring management’s confidence in the upgraded asset.
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