Hycroft Minding $HYMC has had all eyes on it recently since there is some amazing news relating to drill results from its latest exploration.
Earlier this year around March, Adam Aron CEO of AMC announced AMC would spend about $27.9 million for its stake in Hycroft, which will warrant 23.4 million shares of the mining company.
WHY DID AMC THEATERS BUY A STAKE IN HYCROFT?
Adam Aron indicated that they believe that Hycroft is in a similar position that AMC was in a year ago, but just in a different industry. Aron says that Hycroft has “rock-solid assets”, but they have been facing a liquidity issue. The CEO of AMC seems confident that by taking a stake in the gold & silver miner company, that they can help bring it back up.
DRILLING RESULTS ARE IN
In the tweet down below CEO Adam Aron said “Eureka! In Hycroft’s early efforts, the biggest exploration program there in a decade, they found it! There’s MORE gold in them thar hills.“
Looking deeper into this Hycroft mining report, the initial results look very promising and seem to show that there should be major profit in the future for $HYMC and AMC.
In the news release below, they report the findings in each test drill hole which show a TON of precious metal materials!
WHAT DOES THIS MEAN FOR AMC STOCK?
Since AMC Ent. along with its shareholders are investors in Hycroft this means only one thing for the future and that is that the future looks to profitable! With the nature of the current economy metals like gold and silver could be on the rise which could only make this exploration even more profitable in theory.