Companies · Mining & Resources

Hycroft Mining Holding Corp

WINNEMUCCA · Mining & Resources · refined from filed group “Other

Diligence memoA one-page analyst read on Hycroft Mining Holding Corp — recommendation, valuation, rhythm, risks.
$165.9M
Total raised · real
2
Rounds
0.6×
Latest step-up
Top 2%
Sector rank · raised
Series D+
Latest stage · inferred · Wed Sep 10 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Hycroft Mining Holding Corp has raised $166M over 2 rounds; too few niche peers to rank its valuation yet.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the extractive sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Active
  • Last raise 10 mo ago; this sector typically re-raises about every 11 months.
  • Raising on or ahead of the sector's normal rhythm.

Procedural diagnosis est. — rule-based common-sense checks over the filing pattern, issuer name, activity cadence, and surfaced operating evidence.

Issuer-vehicle patternmedium confidence

Hycroft Mining Holding Corp behaves more like a recurring private-offering issuer than a conventional venture-backed operating company.

Issuer structure
Company-like
No recurring-offering pattern strong enough to override normal financing interpretation.
Lifecycle
4.3 yr record
Peak capital year was 2022 with $105.9M across 1 filings.
Market position
ahead of 99% of Mining & Resources peers
Capital scale is ahead of 99% of Mining & Resources peers; modeled value is above 99% of peers by modeled value. Large capital with mid-pack modeled value can signal an issuer/program profile rather than operating-company growth.
Valuation reliability
Normal applicability
Stage/dilution valuation models are weakest when the issuer is broad-sector, recurring, or vehicle-like.
Operating evidence
Sparse
No clear CEO/founder/principal role is surfaced, so operating-company confidence is lower.
Data quality
Consistent
Canonical totals and visible filing detail are broadly aligned.
What triggered this
  • Legal name looks like an issuer vehicle rather than a product company.
  • No clearly named CEO/founder/principal role in the public records surfaced here.
  • No verified homepage on the profile yet.
  • Capital program peaked in 2022: $105.9M across 1 filings.
  • Largest single filing was $105.9M on 2022-03-14.
How to read the page
  • Read this less like a startup funding journey and more like a capital-raising program.
  • Stage-based valuation and peer labels have lower applicability for this pattern.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Mining & Resources

Hycroft Mining Holding Corp is one of 701 Mining & Resources companies tracked from WINNEMUCCA. By capital raised it ranks among the largest (ahead of 99% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
3
Investors (latest)
2025-09-10
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$250M$500M$750M$1.0BSeries D+ · 2022-03-14 Raised $106M (real) Modeled valuation $574M (est)$106M$574MSeries D+2022Series D+ · 2025-09-10 Raised $60M (real) Modeled valuation $388M (est)$60M$388MSeries D+2025+$60MCumulative $166M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series D+$105.9M · 2022
Series D+ extension$60.0M · 2025

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B, Series C — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 17%.

Modeled valuation trajectory
$387.8M
Base estimate est.
$323.0M
Conservative case
$470.2M
Upside case
$500.0M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the extractive sector profile. Directional, not a quoted figure.

Series D+ · modeled $574.4M · 2022-03-142022Series D+ · modeled $387.8M · 2025-09-102025
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
81%
Survival probability
65% low · 89% high
0.95×/yr
Annual markup
1.07×/yr upside case
0.8 yr
Elapsed time used
0.8 yr actual, capped for stale marks
extractive
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
42 mo
Avg between rounds
$47.5M/yr
Capital velocity
4.3 yr
On record since
2022
First round
2
Rounds on file
How it compares to the market

Benchmarked against 701 companies in Mining & Resources. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 72× above median
This company$165.9M
Sector median$2.3M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 0.5× of median
This company$60.0M
Sector median$113.5M
Modeled value — vs sector median (estimate, all stages) 153× above median
This company$387.8M
Sector median$2.5M

Raised more than 99% of sector peers (real $). Modeled value above 99% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful.

Not enough valued peers in this cohort to chart positioning.

CompanyStageRaised · realValue · estvs peer med.
Code Metal, Inc.Series D+$181.9M$815.0M1.36×
Hycroft Mining Holding Corp this companySeries D+$165.9M$387.8M0.64×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series D+$105.9M2022-03-14$882.1M$574.4M90%
Series D+$60.0M2025-09-10$500.0M$387.8M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series D+$105.9M2022-03-14
    • First recorded raise — entered as Series D+.
    • 2 investors on this round.
  2. Series D+$60.0M2025-09-10
    • Raised again after 42 mo — slower than the ~11 mo sector norm.
    • Round 1.8× smaller than the prior — bridge or down round.
    • 3 investors on this round.
Intelligence
2029 ~Q1
Modeled next raise · ~42mo cadence
$60.0M
Modeled next size est.range $60.0M$96.0M
0.6×
Last step-up
$47.5M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
David B Thomas1 other2025-09
Diane R. Garrett1 other2022-03
Michael J. Harrison1 other2025-09
Michael R. Harrison1 other2022-03
Stephen A. Lang1 other2025-09
David C. Naccarati2022-03
Marni C. Wieshofer2022-03
Rebecca A. Jennings2025-09
Sean D. Goodman2025-09
Stanton C. Rideout2022-03
Stanton K. Rideout2025-09
Stephen R. Lang2022-03
Thomas C. Weng2022-03
Registry & provenance

Hycroft Mining Holding Corp is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1718405
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Imperial Metals CorpMining & ResourcesSeries D+$141.9M$93.9Msame sector · same stage
International Tower Hill Mines LtdMining & ResourcesSeries B$96.9M$15.1Mnetwork1 shared operator · same sector
Hut 8 Mining Corp.Mining & ResourcesSeries D+$109.6M$530.7Msame sector · same stage
TriStar Gold Inc.Mining & ResourcesSeed$15.0M$4.1Mnetwork1 shared operator · same sector
Foran Mining CorpMining & ResourcesSeries C$152.1M$42.2Msame sector
Gold Reserve LtdMining & ResourcesSeries C$250.4M$370.6Msame sector
MineralTree, Inc.Mining & ResourcesSeries C$109.7M$269.5Msame sector
Hecla Mining Co/De/Mining & ResourcesSeries C$100.0M$45.6Msame sector
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Royal Mines & Minerals CorpMining & ResourcesSeed$644K86%
Orestone Mining Corp.Mining & ResourcesPre-Seed$325K85%
Key Metals Corp.Mining & ResourcesSeries A$8.3M84%
Metallic Minerals Corp.Mining & ResourcesSeed$7.5M83%
Wealth Minerals Ltd.Mining & ResourcesSeed$2.6M83%
Pecoy Copper Corp.Mining & ResourcesSeries A$8.8M83%
Orex Minerals IncMining & ResourcesSeed$1.6M83%
Modern Mining Technology Corp.Mining & ResourcesSeed$13.2M83%
Frequently asked
How much funding has Hycroft Mining Holding Corp raised?
Hycroft Mining Holding Corp has raised approximately $165.9M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is Hycroft Mining Holding Corp's estimated valuation?
Provath's modeled valuation for Hycroft Mining Holding Corp is approximately $387.8M (modeled range $323.0M–$470.2M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Hycroft Mining Holding Corp at?
Hycroft Mining Holding Corp's latest modeled financing stage is Series D+. Its most recent recorded round closed around Wed Sep 10.
What does Hycroft Mining Holding Corp do and where is it based?
Hycroft Mining Holding Corp operates in the Mining & Resources sector, based in WINNEMUCCA.
Explore related

See where Hycroft Mining Holding Corp sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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