Stock Track | Hycroft Mining (HYMC) Soars 10.97% on Exploration Success and Silver Price Surge

Stock Track12-23 23:06

Hycroft Mining Holding Corporation (HYMC) saw its stock soar by 10.97% during the intraday session on Tuesday, continuing its upward trend. The stock has been on a remarkable rally, surging 460% since September, driven by positive developments in its exploration activities and a surge in silver prices.

The company announced that its exploration drilling program at the Vortex Silver System in the Hycroft Mine, Nevada, confirmed the continuity of high-grade silver and identified the highest-grade silver discovered to date. This news has significantly boosted investor confidence in the company's prospects.

Additionally, spot silver prices briefly surpassed the $70 mark, marking a year-to-date increase of 142%. The world's largest silver ETF also recorded a single-day inventory increase of 533 tons, the largest in nearly three years, further fueling the rally in silver-related stocks like HYMC.

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