Company Overview (Tables)

6 Months Ended

Jun. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of prior period adjustments

The following presents the restated condensed consolidated financial statements as of and for the three and six months ended June 30, 2020. The condensed consolidated statement of stockholders' equity reflects the restatement adjustments presented in the consolidated Balance Sheets presented below.

HYCROFT MINING HOLDING CORPORATION CONSOLIDATED CONDENSED BALANCE SHEETS (UNAUDITED) (dollars in thousands)
	June 30, 2020
	As Previously Reported		Restatement Adjustment		As Restated
Total assets	$	192,681	$	—	$	192,681
Liabilities:
Current liabilities	$	21,947	$	—	$	21,947
Other liabilities, non-current	153		(18)		135
Debt, net, non-current	139,044		—		139,044
Royalty obligation, non-current	29,699		—		29,699
Asset retirement obligation, non-current	4,561		—		4,561
Warrant liability	—		13,126		13,126
Total liabilities	$	195,404	$	13,108	$	208,512
Stockholders' (deficit) equity:
Common stock	$	5	$	—	$	5
Additional paid-in capital	466,047		(12,186)		453,861
Accumulated deficit	(468,775)		(922)		(469,697)
Total stockholders' deficit	$	(2,723)	$	(13,108)	$	(15,831)
Total liabilities and stockholders' deficit	$	192,681	$	—	$	192,681

HYCROFT MINING HOLDING CORPORATION CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) (dollars in thousands)
	Three Months Ended June 30, 2020						Six Months Ended June 30, 2020
	As Previously Reported		Restatement Adjustment		As Restated		As Previously Reported		Restatement Adjustment		As Restated
Revenue	$	7,636	$	—	$	7,636	$	18,760	$	—	$	18,760
Total cost of sales	(31,863)		—		(31,863)		(55,731)		—		(55,731)
Operating expenses	(10,526)		—		(10,526)		(12,625)		—		(12,625)
Loss from operations	(34,753)		—		(34,753)		(49,596)		—		(49,596)
Other (expense) income:
Interest expense, net of capitalized interest	(15,072)		—		(15,072)		(34,959)		—		(34,959)
Fair value adjustment to warrants	—		(922)		(922)		—		(922)		(922)
Interest income	35		—		35		147		—		147
Loss before reorganization items and income taxes	(49,790)		(922)		(50,712)		(84,408)		(922)		(85,330)
Net loss	$	(49,790)	$	(922)	$	(50,712)	$	(84,408)	$	(922)	$	(85,330)

HYCROFT MINING HOLDING CORPORATION CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) (dollars in thousands)
	Six Months Ended June 30, 2020
	As Previously Reported		Restatement Adjustment		As Restated
Net loss	$	(84,408)	$	(922)	$	(85,330)
Adjustments to reconcile net loss for the period to net cash used in operating activities:
Non-cash portion of interest expense	30,376		—		30,376
Write-down of production inventories	17,924		—		17,924
Depreciation and amortization	2,753		—		2,753
Stock-based compensation	592		—		592
Fair value adjustment to warrants	—		922		922
Accretion	187		—		187
Phantom share compensation	225		—		225
Changes in operating assets and liabilities	(25,291)		—		(25,291)
Net cash used in operating activities	(57,642)		—		(57,642)
Net cash used in investing activities	(11,704)		—		(11,704)
Cash flows from financing activities:	107,303		—		107,303
Net increase (decrease) in cash and restricted cash	37,957		—		37,957
Cash and restricted cash, beginning of period	48,967		—		48,967
Cash and restricted cash, end of period	$	86,924	$	—	$	86,924
Total cash and restricted cash	$	86,924	$	—	$	86,924