Theater chain AMC Entertainment to buy stake in a gold and silver miner
AMC Entertainment Holdings Inc. AMC, -5.17% said Tuesday it is buying 22% of Hycroft Mining Holding Corp.
and its 71,000 acre Hycroft Mine in Northern Nevada, that is understood to have 15 million ounces of gold deposits and some 600 million ounces of silver deposit. The company will also receive 23.4 million warrants priced at a discount of $1.07 a share. Hycroft shares closed Monday at $1.37. Eric Sprott, a metals investor, will make an investment equal to AMC, the company said in a statement. Combined, the investment comes to $56 million, giving Hycroft financial runway.
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