HYMC - Mining company with AMC investment, likely institutional pump attempt

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Adam Aron was pulled from a TV appearance today citing his attorney’s advice:

https://twitter.com/CEOAdam/status/1503763167473713155

It looks as though this may have been a pure and simple attempt to bait retail into pumping a stock similar to Cohen’s BBBY play. As we saw with BBBY retail seemingly has very little in the way of dedication to these plays.

We need info on the amount of shares that HYMC is offering, its currently looking like the investment from AMC could easily be offset and that this company is probably going to be drifting back down.

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Could also have something to do with a lot of people pointing out that this ticker had no volume until last week. Pretty blatant insider trading.

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The current float is 60.1M, they can issue a max of 186.8M.

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Source: https://www.sec.gov/Archives/edgar/data/0001718405/000110465922033620/tm229176d1_424b5.htm

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Agreed there. Been massively tracking up for days now. Absolutely brazen tbh. If that’s correct, I’d imagine the press tour related to this is likely completely cancelled.

@nano, that’s pretty massive dilution. 60M shares outstanding before all of this:

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So with AMC’s purchase, shares outstanding now equal 107M and this filing is increases that number by an additional 186M shares for a total of 292M shares outstanding (when sold) and 387% dilution when its all said and done.

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Are they out-sourcing share dilution to HYMC?

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I wonder if this is a precursor to minting a gold-backed stablecoin.

Gold backed stablecoins are less common than those tethered to actual hard currencies, but do have meme potential. Example: $AABB.

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I think you’re on to something, AA made a big deal about minting their own crypto on his last earnings call!

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I tossed a bid in for a $1 Put 5/20 - just a gamble if it should fill (edit) Got filled @ .30

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To my understanding this was also being played as a metal pennystock by retail. I wonder how much of recent volume was attributed to this.

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This was being pumped pretty heavily the last few days on the squeeze subreddits. I remember seeing it last week and the week before too.

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Lol that doesn’t happen…….

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Press release out today about the dilution:

As previously disclosed on March 15, 2022, Hycroft launched the ATM Program which provided for the offer and sale, from time to time, of shares of its Class A common stock (the “Shares”). Through the ATM Program, Hycroft sold 89,553,584 Shares and generated aggregate gross proceeds before commissions and offering expenses of approximately $138.6 million. Following consummation of all sales under the ATM Program, Hycroft will have 196,803,459 Shares issued and outstanding.

(Press release)

About a 100% dilution, but prices went up AH by 22%. The AMC “apes” believe this is good because they now have capital to do things. To a mine that is closed. By a company that is neck deep in debt. With dodgy reserves full of low grade stuff.

:confused:

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Blowing my mind that this stock continues to go up… Now at +38% and running this PM.

If it wasn’t a sub-$2 stock you can bet Kryptek would be selling options to those apes hand over fist!

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I bought a few contracts hoping this might happen, glad that I did!

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This play is all about catalysts, and it actually has 2:
→ AMC going up
→ BTC going up

Adding to this the fact that the stock is totally beaten down, it seems like this play is all about sentiment. I think AMC and BTC will keep boosting this ticker for a while, but i wouldn’t touch it.

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Commenting here to ask for confirmation if the 300%+ dilution is said and done. If HYMC hits $2.5, 33k of the OI is ITM. Wonder if we will see an increase in OI later tomorrow.