Hycroft Mining Holding (HYMC) 10-Q 4 Aug 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2021	Aug. 03, 2021
Document Information [Line Items]
Document Type	10-Q
Document Period End Date	Jun. 30, 2021
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-38387
Entity Registrant Name	HYCROFT MINING HOLDING CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-2657796
Entity Address, Address Line One	8181 E. Tufts Avenue, Suite 510
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80237
City Area Code	(303)
Local Phone Number	253-3267
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		59,977,318
Amendment Flag	false
Entity Central Index Key	0001718405
Class A common stock
Document Information [Line Items]
Title of 12(b) Security	Class A common stock, par value $0.0001 per share
Trading Symbol	HYMC
Security Exchange Name	NASDAQ
Warrants to purchase common stock
Document Information [Line Items]
Title of 12(b) Security	Warrants to purchase common stock
Trading Symbol	HYMCW
Security Exchange Name	NASDAQ
Warrants to purchase common stock
Document Information [Line Items]
Title of 12(b) Security	Warrants to purchase common stock
Trading Symbol	HYMCZ
Security Exchange Name	NASDAQ
Warrants to purchase common stock
Document Information [Line Items]
Title of 12(b) Security	Warrants to purchase common stock
Trading Symbol	HYMCL

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Assets:
Cash	$ 30,220	$ 56,363
Accounts receivable	1,463	426
Inventories - Note 4	19,087	12,867
Ore on leach pads- Note 4	37,664	38,041
Prepaids and other - Note 5	6,236	4,303
Current assets	94,670	112,000
Ore on leach pads, non-current - Note 4	7,298	7,243
Plant, equipment, and mine development, net - Note 6	68,624	60,223
Restricted cash - Note 7	34,855	39,677
Other assets, non-current - Note 5	14,578	13,483
Total assets	220,025	232,626
Liabilities:
Accounts payable and accrued expenses	15,618	12,280
Debt, net - Note 9	9,613	5,120
Royalty obligation - Note 10	423	124
Other liabilities - Note 8	5,427	4,157
Current liabilities	31,081	21,681
Warrant liabilities, non-current - Note 11	4,961	15,389
Debt, net, non-current - Note 9	147,856	142,665
Royalty obligation, non-current - Note 10	29,432	29,839
Asset retirement obligation, non-current - Note 12	4,989	4,785
Other liabilities, non-current - Note 8	1,298	1,650
Total liabilities	219,617	216,009
Commitments and contingencies - Note 20
Stockholders' (deficit) equity
Common stock, $0.0001 par value; 400,000,000 shares authorized; 59,977,318 issued and outstanding at June 30, 2021; and 59,901,306 issued and outstanding at December 31, 2020	6	6
Additional paid-in capital	539,276	537,370
Accumulated deficit	(538,874)	(520,759)
Total stockholders' equity	408	16,617
Total liabilities and stockholders' equity	$ 220,025	$ 232,626

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	400,000,000	400,000,000
Common stock, issued (in shares)	59,977,318	59,901,306
Common stock, outstanding (in shares)	59,977,318	59,901,306

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenues - Note 14	$ 36,001,000	$ 7,636,000	$ 55,037,000	$ 18,760,000
Cost of sales:
Production costs	29,494,000	7,486,000	47,311,000	16,421,000
Depreciation and amortization	1,573,000	548,000	2,614,000	1,324,000
Mine site period costs - Note 4	2,434,000	12,870,000	12,978,000	20,062,000
Write-down of production inventories - Note 4	0	10,959,000	0	17,924,000
Total cost of sales	33,501,000	31,863,000	62,903,000	55,731,000
Operating expenses:
General and administrative	5,164,000	10,432,000	8,958,000	12,438,000
Projects and development	1,023,000	0	1,516,000	0
Accretion - Note 12	102,000	94,000	204,000	187,000
Loss from operations	(3,789,000)	(34,753,000)	(18,544,000)	(49,596,000)
Other (expense) income:
Interest expense, net of capitalized interest - Note 9	(5,298,000)	(15,072,000)	(9,747,000)	(34,959,000)
Fair value adjustment to warrants - Notes 11 and 18	651,000	(922,000)	10,144,000	(922,000)
Interest income	9,000	35,000	32,000	147,000
Loss before income taxes	(8,427,000)	(50,712,000)	(18,115,000)	(85,330,000)
Income taxes - Note 15	0	0	0	0
Net loss	$ (8,427,000)	$ (50,712,000)	$ (18,115,000)	$ (85,330,000)
Earnings Per Share [Abstract]
Basic (in dollars per share)	$ (0.14)	$ (2.76)	$ (0.30)	$ (9.12)
Diluted (in dollars per share)	$ (0.14)	$ (2.76)	$ (0.30)	$ (9.12)
Weighted average shares outstanding:
Basic (in shares)	59,927,523	18,395,983	59,914,487	9,359,655
Diluted (in shares)	59,927,523	18,395,983	59,914,487	9,359,655

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net loss	$ (18,115)	$ (85,330)
Adjustments to reconcile net loss for the period to net cash used in operating activities:
Non-cash portion of interest expense - Note 9	9,215	30,376
Non-cash (gain) loss on fair value adjustment for warrant liabilities - Note 11	(10,144)	922
Write-down of production inventories - Note 4	0	17,924
Depreciation and amortization	3,102	2,753
Stock-based compensation - Note 14	1,586	592
Accretion - Note 12	204	187
Phantom share compensation	0	225
Changes in operating assets and liabilities:
Accounts receivable	(1,037)	(275)
Production-related inventories, current and non-current	(6,285)	(24,787)
Materials and supplies inventories	(762)	(2,484)
Prepaids and other assets, current and non-current	(3,045)	(4,766)
Accounts payable and accrued expenses	3,010	7,807
Other liabilities, current and non-current	954	(786)
Net cash used in operating activities	(21,317)	(57,642)
Cash flows used in investing activities:
Additions to plant, equipment, and mine development	(9,065)	(11,704)
Net cash used in investing activities	(9,065)	(11,704)
Cash flows from financing activities:
Principal payments on debt	(583)	0
Proceeds from Sprott Royalty Obligation - Note 10	0	30,000
Proceeds from Recapitalization Transaction	0	10,419
Transaction and issuance costs	0	(15,138)
Net cash (used in) provided by financing activities	(583)	107,303
Net (decrease) increase in cash and restricted cash	(30,965)	37,957
Cash and restricted cash, beginning of period	96,040	48,967
Cash and restricted cash, end of period	65,075	86,924
Reconciliation of cash and restricted cash:
Cash	30,220	47,293
Restricted cash - non-current	34,855	39,631
Total cash and restricted cash	65,075	86,924
Sprott Credit Agreement
Cash flows from financing activities:
Proceeds from issuance of debt	0	68,600
The 1.25 Lien Notes
Cash flows from financing activities:
Proceeds from issuance of debt	0	44,841
First Lien Agreement
Cash flows from financing activities:
Repayment of debt	0	(125,468)
Promissory Note
Cash flows from financing activities:
Repayment of debt	0	(6,914)
Private Placement
Cash flows from financing activities:
Proceeds from issuance of equity	0	75,963
Forward purchase contract
Cash flows from financing activities:
Proceeds from issuance of equity	$ 0	$ 25,000

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) (UNAUDITED) - USD ($) $ in Thousands		Total	Conversion from Class B common stock	Private Placement	Sprott Credit Agreement	2.0 Lien Notes to common stock	1.5 Lien Notes into common stock	1.25 Lien Notes into common stock	Common Stock		Common StockConversion from Class B common stock	Common StockPrivate Placement		Common StockSprott Credit Agreement	Common Stock2.0 Lien Notes to common stock		Common Stock1.5 Lien Notes into common stock		Common Stock1.25 Lien Notes into common stock	Treasury Stock		Treasury Stock2.0 Lien Notes to common stock	Additional Paid-in Capital		Additional Paid-in CapitalConversion from Class B common stock	[1]	Additional Paid-in CapitalPrivate Placement	[1]	Additional Paid-in CapitalSprott Credit Agreement	[1]	Additional Paid-in Capital2.0 Lien Notes to common stock	[1]	Additional Paid-in Capital1.5 Lien Notes into common stock	[1]	Additional Paid-in Capital1.25 Lien Notes into common stock	[1]	Accumulated Deficit	Accumulated Deficit2.0 Lien Notes to common stock	Accumulated Deficit1.5 Lien Notes into common stock
Beginning balance (in shares) at Dec. 31, 2019	[1]								345,431											22,103
Beginning balance at Dec. 31, 2019		$ (439,251)							$ 0	[1]										$ 0	[1]		$ 5,187	[1]													$ (444,438)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss		(34,618)																																			(34,618)
Ending balance (in shares) at Mar. 31, 2020	[1]								345,431											22,103
Ending balance at Mar. 31, 2020		(473,869)							$ 0	[1]										$ 0	[1]		5,187	[1]													(479,056)
Beginning balance (in shares) at Dec. 31, 2019	[1]								345,431											22,103
Beginning balance at Dec. 31, 2019		(439,251)							$ 0	[1]										$ 0	[1]		5,187	[1]													(444,438)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss		(85,330)
Ending balance (in shares) at Jun. 30, 2020	[1]								50,160,042											0
Ending balance at Jun. 30, 2020		(15,831)							$ 5	[1]										$ 0	[1]		453,861	[1]													(469,697)
Beginning balance (in shares) at Mar. 31, 2020	[1]								345,431											22,103
Beginning balance at Mar. 31, 2020		(473,869)							$ 0	[1]										$ 0	[1]		5,187	[1]													(479,056)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued upon conversion (in shares)	[1]										4,813,180				14,795,153		16,025,316		4,845,920			(22,103)
Common shares issued upon conversion			$ 12,814			$ 220,859	$ 145,685	$ 48,459							$ 2	[1]	$ 2	[1]							$ 12,814						$ 146,217		$ 160,252		$ 48,459			$ 74,640	$ (14,569)
Common shares issued (in shares)	[1]											7,596,309		496,634
Common shares issued				$ 75,963	$ 6,282							$ 1	[1]														$ 75,962		$ 6,282
Unredeemed SPAC shares of MUDS public stockholders (in shares)	[1]								1,197,704
Unredeemed SPAC shares of MUDS public stockholders		3,723																					3,723	[1]
Common shares issued to underwriter (in shares)	[1]								44,395
Common shares issued to underwriter		444																					444	[1]
Vesting of restricted stock units		1,802																					1,802	[1]
Equity issuance costs		(7,281)																					(7,281)	[1]
Net loss		(50,712)																																			(50,712)
Ending balance (in shares) at Jun. 30, 2020	[1]								50,160,042											0
Ending balance at Jun. 30, 2020		(15,831)							$ 5	[1]										$ 0	[1]		453,861	[1]													(469,697)
Beginning balance (in shares) at Dec. 31, 2020									59,901,306											0
Beginning balance at Dec. 31, 2020		16,617							$ 6											$ 0			537,370														(520,759)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation costs		507																					507
Vesting of restricted stock units		104																					104
Net loss		(9,688)																																			(9,688)
Ending balance (in shares) at Mar. 31, 2021									59,901,306											0
Ending balance at Mar. 31, 2021		7,540							$ 6											$ 0			537,981														(530,447)
Beginning balance (in shares) at Dec. 31, 2020									59,901,306											0
Beginning balance at Dec. 31, 2020		16,617							$ 6											$ 0			537,370														(520,759)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss		(18,115)
Ending balance (in shares) at Jun. 30, 2021									59,964,980											0
Ending balance at Jun. 30, 2021		408							$ 6											$ 0			539,276														(538,874)
Beginning balance (in shares) at Mar. 31, 2021									59,901,306											0
Beginning balance at Mar. 31, 2021		7,540							$ 6											$ 0			537,981														(530,447)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation costs		1,011																					1,011
Vesting of restricted stock units (in shares)									63,674
Vesting of restricted stock units		0																					0
5-Year Private Warrants transferred to 5-Year Public Warrants		284																					284
Net loss		(8,427)																																			(8,427)
Ending balance (in shares) at Jun. 30, 2021									59,964,980											0
Ending balance at Jun. 30, 2021		$ 408							$ 6											$ 0			$ 539,276														$ (538,874)
[1]	Retroactively restated January 1, 2020 and March 31, 2020 for the reverse recapitalization as described in Note 2 - Summary of Significant Accounting Policies, and the restated reclassification of the Company's 5-Year Private Warrants as described in Note 11 - Warrants .

Company Overview

Company Overview	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Company Overview	Company Overview Hycroft Mining Holding Corporation (formerly known as Mudrick Capital Acquisition Corporation ("MUDS")) and its subsidiaries (collectively, “Hycroft”, the “Company”, “we”, “us”, “our”, "it", "HYMC") is a U.S.-based gold and silver producer that is focused on operating and developing its wholly owned Hycroft Mine in a safe, environmentally responsible, and cost-effective manner. Gold and silver sales represent 100% of the Company’s operating revenues and the market prices of gold and silver significantly impact the Company’s financial position, operating results, and cash flows. The Hycroft Mine is located in the State of Nevada and the corporate office is located in Denver, Colorado. On May 29, 2020, the Company consummated the Recapitalization Transaction (as defined below) as contemplated by a purchase agreement dated January 13, 2020, as amended on February 26, 2020 (the “Purchase Agreement”), by and among the Company, MUDS Acquisition Sub, Inc. (“Acquisition Sub”) and Hycroft Mining Corporation ("Seller"). Pursuant to the Purchase Agreement, Acquisition Sub acquired all of the issued and outstanding equity interests of the direct subsidiaries of Seller and substantially all of the other assets of Seller and assumed substantially all of the liabilities of Seller in a business combination and reverse recapitalization transaction (the "Recapitalization Transaction"). See Note 3 - Recapitalization Transaction for further details. The Company restarted open pit mining operations at the Hycroft Mine during the second quarter of 2019 and began producing and selling gold and silver during the third quarter of 2019. The Company's operating plan for 2021 will provide the Company with the opportunity to complete and evaluate the results of the ongoing technical and optimization work for the proprietary two-stage heap oxidation and leach process detailed in the Hycroft Technical Report Heap Leaching Feasibility Study, prepared in accordance with the requirements of the Modernization of Property Disclosures for Mining Registrants, with an effective date of July 31, 2019 (the “Hycroft Technical Report”) and evaluate alternative processing technologies. Based upon the findings and results of these evaluations, the Company may update or file a new technical report. Restatement of Previously Issued Financial Statements On April 12, 2021, the Acting Director of the Division of Corporation Finance and Acting Chief Accountant of the Securities and Exchange Commission together issued a statement regarding the accounting and reporting considerations for warrants issued by special purpose acquisition companies entitled "Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (“SPACs”) (the “SEC Statement”). Specifically, the SEC Statement clarified guidance for all SPAC-related companies regarding the accounting and reporting for their warrants and focused in part on provisions in warrant agreements that provide for potential changes to the settlement amounts dependent upon the characteristics of the warrant holder, and because the holder of such warrants would not be an input into the pricing of a fixed-for-fixed option on equity shares, such provision would preclude such warrants from being classified in equity and thus such warrants should be classified as a liability. As previously disclosed in the Company's Annual Report on Form 10-K/A, as filed on May 14, 2021 (“2020 Form 10-K/A”), the Company restated its previously issued consolidated financial statements and accompanying notes as of and for the year ended December 31, 2020, to make the necessary accounting corrections related to warrant accounting and to recognize certain warrants as a liability instead of as equity, in accordance with Accounting Standards Codification (“ASC”) 815-40, Contracts in Entity’s Own Equity. As a smaller reporting company that was not required to include quarterly financial information in the 2020 Form 10-K/A, the Company did not amend its previously issued Quarterly Reports on Form 10-Q for any period prior to December 31, 2020. The Company restated the condensed consolidated financial statements for the three and six month periods ended June 30, 2020, as reflected below. 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 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 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 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

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of presentation These condensed consolidated interim financial statements of the Company have been prepared, without audit, in accordance with U.S. generally accepted accounting principles (“GAAP”) and pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, these financial statements do not include all information and footnotes necessary for a comprehensive presentation of financial position, results of operations, or cash flows. These unaudited condensed consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and the notes thereto as of and for the year ended December 31, 2020, as amended. The Company continues to follow the accounting policies set forth in those audited consolidated financial statements. In the opinion of management, the accompanying unaudited condensed consolidated interim financial statements include all adjustments that are necessary for a fair presentation of the Company's interim financial position, operating results and cash flows for the periods presented. Risks and Uncertainties The Company has a single mine with its revenue, profitability, and cash flows substantially dependent on prevailing prices for gold and silver and its ability to mine sufficient volumes cost effectively. Historically, the commodity markets have been very volatile, and there can be no assurance that commodity prices will not be subject to wide fluctuations in the future. A substantial or extended decline in commodity prices could have a material adverse effect on the Company’s financial position, results of operations, cash flows, access to capital and the quantities of mineral reserves that the Company can economically produce. In addition to changes in commodity prices, other factors such as changes in mine plans, increases in costs, geotechnical failures, changes in social, environmental or regulatory requirements, taxation policies, the ability to successfully implement new technologies for processing ore, timely financing for development, impacts of global events such as the COVID-19 pandemic, and management’s decision to expand production to commercial levels can adversely affect the Company’s ability to recover its investment in certain assets and result in impairment charges. For more information on risks associated with the Company’ s business, please see Item 1A. Risk Factors in the 2020 Form 10-K/A. Going concern The financial statements of the Company have been prepared on a “going concern” basis, which contemplates the presumed continuation of the Company even though events and conditions exist that, when considered individually or in the aggregate, raise substantial doubt about the Company’s ability to continue as a going concern because it is probable that, without additional capital injections, the Company may be unable to meet its obligations as they become due within one year after the date that these financial statements were issued. For the six months ended June 30, 2021, the Company recorded a net loss of $18.1 million, which included a gain from Fair value adjustments to warrants of $10.1 million, and net cash used in operating activities was $21.3 million. As of June 30, 2021, the Company had available cash on hand of $30.2 million, working capital of $63.6 million, Total liabilities of $219.6 million, and an Accumulated deficit of $538.9 million. Based on the Company's internal cash flow projection models, the Company currently forecasts it will likely require additional cash from financing activities within 12 months from the issuance of this report to meet its operating and investing requirements and future obligations as they become due, including the estimated $9.6 million in cash payments required pursuant to the Credit Agreement among MUDS, MUDS Holdco Inc., Allied VGH LLC, Hycroft Mining Holding Corporation, Hycroft Resources and Development, LLC, Sprott Private Resource Lending II (Collector) Inc., and Sprott Resources Lending Corp. (“Sprott Credit Agreement”). The Company’s ability to continue as a going concern is contingent upon securing additional funding for working capital, capital expenditures and other corporate expenses so that it can increase sales by achieving higher cost-effective operating tonnages and recovery rates and generate positive free cash flows. These financial statements do not include any adjustments related to the recoverability and classification of recorded assets or the amounts and classification of any liabilities or any other adjustments that might be necessary should the Company be unable to continue as a going concern. As such, recorded amounts in these financial statements (including without limitation, stockholders’ equity) have been prepared on a historical-cost basis, as required, which do not reflect or approximate the current fair value of the Company’s assets or management’s assessment of the Company’s overall enterprise or equity value. Use of estimates The preparation of the Company’s financial statements requires management to make estimates and assumptions that affect amounts reported in these financial statements and accompanying notes. The more significant areas requiring the use of management estimates and assumptions relate to: recoverable gold and silver on stockpiles, leach pads and in-process inventories; timing of near-term ounce production and related sales; the useful lives of long-lived assets; probabilities of future expansion projects; estimates of mineral reserves; estimates of life-of-mine production timing, volumes, costs and prices; current and future mining and processing plans; environmental reclamation and closure costs and timing; deferred taxes and related valuation allowances; estimates of the fair value of liability classified warrants, and estimates of fair value for asset impairments and financial instruments. The Company bases its estimates on historical experience and various other assumptions that are believed to be reasonable at the time the estimate is made. Actual results may differ from amounts estimated in these financial statements, and such differences could be material. Accordingly, amounts presented in these financial statements are not indicative of results that may be expected for future periods. Inventories The Company’s production-related inventories include: (i) stockpiles; (ii) ore on leach pads; (iii) in-process inventories; and (iv) doré and off-site carbon and slag finished goods. Production-related inventories are carried at the lower of average cost or net realizable value per estimated recoverable gold ounce, which is computed for each category of production-related inventories at each reporting period. Net realizable value represents the estimated future gold revenue of production-related inventories after adjusting for silver by-product revenue and deductions for further processing, refining, and selling costs. The estimated future revenue is calculated using sales prices based on the London Bullion Market Association’s (“LBMA”) quoted period-end metal prices. Estimates for silver revenue by-products credits and deductions for estimated costs to complete reflect the Company’s historical experience for expected processing, refining and selling plans. Actual net realizable values for gold sales may be different from such estimates. Changes to inputs and estimates resulting from changes in facts and circumstances are recognized as a change in management estimate on a prospective basis. Stockpiles Stockpiles represents ore that has been extracted from the mine and is available for further processing. Stockpiles are subject to oxidation over time which can impact expected future recoveries depending on the process recovery method. The value of the stockpiles is measured by estimating the number of tons added and removed from the stockpiles, the number of contained ounces based on assay data, and the estimated metallurgical recovery rates based on the expected processing method. Costs are added to the value of the stockpiles based on current mining costs, including applicable overhead and depreciation and amortization relating to the Company's mining operations. Ore on leach pads Ore on leach pads represents ore that has been mined and placed on leach pads where a solution is applied to dissolve the contained gold and silver. Costs are added to ore on leach pads based on current mining costs, including reagents, leaching supplies, and applicable depreciation and amortization relating to mining operations. As gold-bearing materials are further processed, costs are transferred from ore on leach pads to in-process inventories at an average cost per estimated recoverable ounce of gold. Although the quantities of recoverable metal placed on the leach pads are reconciled by comparing the grades of ore placed on pads to the quantities of metal actually recovered (metallurgical balancing), the nature of the leaching process inherently limits the ability to precisely monitor inventory levels. As a result, the metallurgical balancing process is constantly monitored, and estimates are refined based on actual results over time and changes in future estimates. In-process inventories In-process inventories represent gold-bearing concentrated materials that are in the process of being converted to a saleable product using a Merrill-Crowe plant or carbon-in-column processing method. As gold ounces are recovered from in-process inventories, costs, including conversion costs are transferred to precious metals inventory at an average cost per ounce of gold. Precious metals inventory Precious metals inventory consists of doré and loaded carbon containing both gold and silver, which is ready for offsite shipment or at a third-party refiner before being sold to a third party. As gold ounces are sold, costs are recognized in Production costs and Depreciation and amortization in the consolidated statements of operations at an average cost per gold ounce sold. Materials and supplies Materials and supplies are valued at the lower of average cost or net realizable value. Cost includes applicable taxes and freight. Warrants Warrant liabilities, non-current The Company accounts for certain warrants to purchase shares of the Company’s common stock that were issued to the SPAC sponsor and/or underwriter in a private placement and/or pursuant to a forward purchase contract (the “5-Year Private Warrants”) that are not indexed to the Company’s own stock as warrant liabilities at fair value on the consolidated balance sheet. These warrants are subject to remeasurement at each balance sheet date and any change in fair value is recognized as a component of Other (expense) income on the condensed consolidated statement of operations. The Company will continue to adjust the liability for changes in fair value until the earlier of the (i) exercise or expiration of the 5-Year Private Warrants or (ii) the transfer of any 5-Year Private Warrants to any person who is not a permitted transferee, at which time the warrant liability will be reclassified to Additional paid-in capital on the condensed consolidated balance sheet. Equity classified warrants Warrants that are considered indexed to the Company's own stock, which are not required to be recorded as a liability are measured at fair value at the date of issuance and included in Additional paid-in capital on the condensed consolidated balance sheet and do not require subsequent remeasurement of the fair value. Projects and development Costs incurred to enhance our understanding of the recovery and processing of the current ore body to sustain production at existing operations that do not qualify for capitalization are expensed within Projects and development , which is included in Operating expenses on the condensed consolidated statement of operations. Projects and development costs include expenditures for: (i) analyzing established feasibility studies; (ii) conducting geological studies; (iii) oversight and project management; and (iv) drilling, engineering, and metallurgical activities. Accounting pronouncements not yet adopted In February 2016, the Financial Accounting Standards Board ("FASB") issued ASU No. 2016-02, Leases ("ASU 2016-02"). The new standard establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the consolidated statements of operations and classification within the consolidated statement of cash flows. In October 2019, the FASB issued ASU No. 2019-10, Financial Instruments - Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) ("ASU 2019-10") that amends the effective date of ASU 2016-02 for emerging growth companies, such that the new standard is effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. As the Company qualifies as an emerging growth company, the Company has elected to take advantage of the deferred effective date afforded to emerging growth companies. A modified retrospective transition approach is required to either the beginning of the earliest period presented or the beginning of the year of adoption. The Company has compiled its leases and is in the process of estimating the impact on its consolidated financial statements and related disclosures. In December of 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), as part as part of its overall simplification initiative to reduce costs and complexity of applying accounting standards while maintaining or improving the usefulness of the information provided to users of financial statements. Amendments include removal of certain exceptions to the general principles of ASC 740, Income Taxes and simplification in several other areas such as accounting for a franchise tax (or similar tax) that is partially based on income. For emerging growth companies, the new guidance is effective for annual periods beginning after December 15, 2021. As the Company qualifies as an emerging growth company, the Company plans to take advantage of the deferred effective date afforded to emerging growth companies. The Company is currently evaluating the impact that adopting this update will have on its consolidated financial statements and related disclosures. In August 2020, the FASB issued ASU No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”). ASU 2020-06 simplifies guidance on accounting for convertible instruments and contracts in an entity’s own equity including calculating diluted earnings per share. For emerging growth companies, the new guidance is effective for annual periods beginning after December 15, 2022. As the Company qualifies as an emerging growth company, the Company plans to take advantage of the deferred effective date afforded to emerging growth companies. The Company is currently evaluating the impact that adopting this update will have on its consolidated financial statements and related disclosures. In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (a consensus of the FASB Emerging Issues Task Force) . ASU 2021-04 clarifies and reduces diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options ( e.g, , warrants) that remain equity classified after modification or exchange. ASU 2021-04 provides guidance that will clarify whether an issuer should account for a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange as (i) an adjustment to equity and, if so, the related earnings per share effects, if any, or (ii) an expense and, if so, the manner and pattern of recognition. The new guidance is effective for annual and interim periods beginning after December 15, 2021, and early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the impact that adopting this update will have on its consolidated financial statements and related disclosures.

Recapitalization Transaction

Recapitalization Transaction	6 Months Ended
	Jun. 30, 2021
Business Combinations [Abstract]
Recapitalization Transaction	Recapitalization Transaction Recapitalization Transaction with MUDS On May 29, 2020, the Company, formerly known as Mudrick Capital Acquisition Corporation, consummated the Recapitalization Transaction (as defined below) as contemplated by a purchase agreement dated January 13, 2020, as amended on February 26, 2020 (the “Purchase Agreement”), by and among the Company, MUDS Acquisition Sub, Inc. (“Acquisition Sub”) and Hycroft Mining Corporation ("Seller"). Pursuant to the Purchase Agreement, Acquisition Sub acquired all of the issued and outstanding equity interests of the direct subsidiaries of Seller and substantially all of the other assets of Seller and assumed substantially all of the liabilities of Seller in a business combination and reverse recapitalization transaction (the "Recapitalization Transaction"). In connection with the consummation of the Recapitalization Transaction, MUDS and the entities purchased from Seller were consolidated under Hycroft Mining Holding Corporation, and the Company's certificate of incorporation was amended and restated to reflect the Company’s change in name. Pursuant to the consummation of the Recapitalization Transaction, the shares of common stock of Hycroft Mining Holding Corporation were listed on the Nasdaq Capital Market under the ticker symbol “HYMC”. In conjunction with the Recapitalization Transaction, Seller’s indebtedness existing prior to the Recapitalization Transaction was either repaid, exchanged for indebtedness of the Company, exchanged for shares of common stock or converted into shares of Seller common stock, and the Company’s post-Recapitalization Transaction indebtedness included amounts drawn under the Sprott Credit Agreement and the assumption of the newly issued Subordinated Notes (as such terms are defined herein). Upon closing of the Recapitalization Transaction, the Company’s unrestricted cash available for use totaled $68.9 million, and the number of shares of common stock issued and outstanding totaled 50,160,042. In addition, upon closing, the Company had 34,289,999 outstanding warrants to purchase an equal number of shares of common stock at $11.50 per share and 12,721,901 warrants to purchase 3,210,213 shares of common stock at a price of $44.82 per share. Prior to the Recapitalization Transaction, the Company was a SPAC with no business operations and on May 29, 2020 had assets and liabilities consisting primarily of $10.4 million of cash and $6.9 million of liabilities for accounts payable, accrued expenses, and deferred underwriting fees. The Recapitalization Transaction was accounted for as a reverse recapitalization in accordance with ASC 805, Business Combinations. Under this method of accounting, for financial reporting purposes, MUDS has been treated as the “acquired” company and Seller has been treated as the “acquirer”. This determination was primarily based on (1) stockholders of Seller immediately prior to the Recapitalization Transaction received a majority of the voting power of the combined entity; (2) the operations of Seller prior to the Recapitalization Transaction comprise the only ongoing operations of the combined entity; (3) four of the seven members of the Board of Directors immediately following the Recapitalization Transaction were directors of Seller immediately prior to the Recapitalization Transaction; and (4) executive and senior management of Seller were appointed as the senior management of the Company. Based on Seller being the accounting acquirer, the financial statements of the combined entity represent a continuation of the financial statements of Seller, with the acquisition treated as the equivalent of Seller issuing stock for the net assets of MUDS, accompanied by a recapitalization. The net assets of MUDS were recognized at historical cost as of the date of the Recapitalization Transaction, with no goodwill or other intangible assets recorded. Comparative information prior to the Recapitalization Transaction in these financial statements are those of Seller and the accumulated deficit of Seller has been carried forward after the Recapitalization Transaction. Shares of common stock issued and outstanding prior to the Recapitalization Transaction have been retroactively restated reflecting the exchange ratio established in the Recapitalization Transaction to effect the reverse recapitalization (1 Seller share for 0.112 HYMC share). For more information regarding debt issuances and extinguishments, royalty obligations, and warrant issuances related to the Recapitalization Transaction see Note 9 - Debt, Net , Note 10 - Royalty Obligation , and Note 11 - Warrants .

Inventories, net

Inventories, net	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Inventories, net	Inventories The following table provides the components of Inventories and the estimated recoverable gold ounces therein (dollars in thousands): June 30, 2021 December 31, 2020 Amount Gold Ounces Amount Gold Ounces Current inventories: Materials and supplies $ 7,211 — $ 6,449 — Merrill-Crowe process plant 1,643 944 4,810 2,587 Carbon-in-column 1,724 1,015 299 166 Finished good (doré and off-site carbon) 8,509 5,010 1,309 710 Non-current inventories: Stockpiles (1) — 3,818 — — Total $ 19,087 10,787 $ 12,867 3,463 (1) During 2021, the Company began stockpiling sulfide ore. The Company intends to use the stockpiles for testing related to the two-stage heap oxidation and leach process or for future processing. As of June 30, 2021, stockpiles had a value of $Nil due to the net realizable value analysis performed by the Company as discussed in the Mine site period costs section below. As of June 30, 2021 and December 31, 2020, in-process inventories and finished goods inventories included $0.6 million and $0.3 million, respectively of capitalized depreciation and amortization costs. The following table summarizes Ore on leach pads and the estimated recoverable gold ounces therein (dollars in thousands): June 30, 2021 December 31, 2020 Amount Gold Ounces Amount Gold Ounces Ore on leach pads, current $ 37,664 21,723 $ 38,041 21,869 Ore on leach pads, non-current 7,298 4,209 7,243 4,164 Total $ 44,962 25,932 $ 45,284 26,033 As of both June 30, 2021 and December 31, 2020, Ore on leach pads included $1.8 million of capitalized depreciation and amortization costs. Additionally, as of June 30, 2021 and December 31, 2020 Ore on leach pads, non-current included $0.3 million and $0.4 million respectively, of capitalized depreciation and amortization costs. Write-down of production inventories The estimated recoverable gold ounces placed on the leach pads are periodically reconciled by comparing the related ore contents to the actual gold ounces recovered (metallurgical balancing). The Company did not record a Write-down of production inventories during the three and six months ended June 30, 2021. During the three and six months ended June 30, 2020, based on metallurgical balancing results, the Company determined that 6,512 and 10,492 ounces of gold, respectively, that had been placed on the leach pads were no longer recoverable and recognized a Write-down of production inventories on the consolidated statements of operations, which included Production costs of $10.2 million and $16.7 million, respectively, and capitalized depreciation and amortization costs of $0.8 million and $1.2 million, respectively. The write-off of ounces during the three and six months ended June 30, 2020 were primarily due to mismanagement of the oxidation process, improper adjustments to variables in the oxidation process for changes in the ore type based on domain, and improper solution management. As a result, the Company determined it would recover less gold ounces than planned for those sectio ns of the leach pads. Mine site period costs The following table summarize the components of Mine site period costs (dollars in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Production related costs $ 2,264 $ 11,996 $ 12,384 $ 18,631 Capitalized depreciation and amortization 170 874 594 1,431 Total $ 2,434 $ 12,870 $ 12,978 $ 20,062

Prepaids and Other

Prepaids and Other	6 Months Ended
	Jun. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaids and Other	Prepaids and Other The following table provides the components of Prepaids and other and Other assets, non-current (dollars in thousands): June 30, December 31, Prepaids and other Prepaids $ 5,129 $ 3,198 Deposits 1,107 1,105 Total $ 6,236 $ 4,303 Other assets, non-current Equipment not in use $ 12,238 $ 12,238 Consignment inventory - supplies 1,860 885 Royalty - advance payment 480 360 Total $ 14,578 $ 13,483 Prepaids The following table provides the components of prepaids included in the above table (dollars in thousands): June 30, December 31, 2020 Prepaid insurance $ 3,611 $ 1,847 Mining claims and permitting fees 1,255 417 Subscription and license fees 176 259 Equipment mobilization — 423 Other 87 252 Total $ 5,129 $ 3,198 Deposits Deposits included payments for rental equipment mobilization. Equipment not in use As of June 30, 2021, equipment not in use was classified as Other assets, non-current and included ball mills, SAG mills, regrind mills, and related motors and components that were previously purchased by a predecessor of the Company. During the second quarter of 2020, the Company engaged an international equipment broker to advertise equipment not in use for potential sale. As a result, the Company recorded an adjustment to the carrying value during the third quarter of 2020 to reflect the fair market value of the equipment not in use. During 2021, the Company determined to keep the equipment and no longer advertise it for sale. The equipment remains not in use of as June 30, 2021. Consignment inventory - supplies The Company has an inventory consignment agreement with a supplier of crusher parts that requires the supplier to maintain a specified inventory of replacement parts and components that are exclusively for purchase and use at the Hycroft Mine. As part of the agreement, the Company is required to make certain payments in advance of receiving such consignment inventory at the mine site. The Company records advance payments as prepaid supplies inventory within Other assets, non-current until such inventory is received, at which point, the amounts are reclassified to Inventories. Royalty - advance payment As of June 30, 2021, royalty-advance payments included annual advance payments for a portion of the Hycroft Mine that is subject to a mining lease requiring a 4% net profit royalty be paid to the owner of certain patented and unpatented mining claims. Refer to Note 20 - Commitments and Contingencies

Plant, Equipment, and Mine Deve

Plant, Equipment, and Mine Development, Net	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Plant, Equipment, and Mine Development, Net	Plant, Equipment, and Mine Development, Net The following table provides the components of Plant, equipment, and mine development, net (dollars in thousands): Depreciation Life June 30, December 31, Leach pads Units-of-production $ 17,708 $ 17,432 Process equipment 5 - 15 years 17,555 16,065 Buildings and leasehold improvements 10 years 10,507 10,507 Mine equipment 5 - 7 years 8,242 5,961 Vehicles 3 - 5 years 1,322 991 Furniture and office equipment 7 years 352 322 Mine development Units-of-production 3,816 756 Mineral properties Units-of-production 37 37 Construction in progress and other 36,529 33,185 $ 96,068 $ 85,256 Less, accumulated depreciation and amortization (27,444) (25,033) Total $ 68,624 $ 60,223 During the six months ended June 30, 2021, new process equipment was placed into service ($1.5 million), new mine equipment was placed into service ($2.3 million), and construction of a new larger leach pad continued through February 2021 at which time construction was suspended ($3.2 million, including $0.7 million of capitalized interest), resulting in construction costs for the new larger leach pad of $34.1 million since commencing construction in 2020, which was the primary project included in construction in progress as of June 30, 2021. For the six months ended June 30, 2021 and the year ended December 31, 2020, certain leach pads ($11.2 million) were not actively used in the leaching process, and accordingly, the Company did not record any depletion for these leach pads. Mineral properties As of June 30, 2021, and December 31, 2020, Mineral properties included an asset retirement obligation asset of $0.04 million that is being depreciated on a straight-line basis over the life of the Company’s only operating property, the Hycroft Mine.

Restricted Cash

Restricted Cash	6 Months Ended
	Jun. 30, 2021
Cash and Cash Equivalents [Abstract]
Restricted Cash	Restricted Cash The following table provides the components of Restricted cash (dollars in thousands): June 30, December 31, Reclamation and other surety bond cash collateral $ 34,855 $ 39,677 As of June 30, 2021, the Company's BLM reclamation and similar obligations were secured with surety bonds totaling $59.9 million, which were partially collateralized by the Restricted cash shown above. During the quarter ended June 30, 2021 the Company replaced certain surety bonds with new surety bonds with lower cash collateral requirements, resulting in an approximate $4.8 million reduction in restricted cash.

Other Liabilities

Other Liabilities	6 Months Ended
	Jun. 30, 2021
Other Liabilities Disclosure [Abstract]
Other Liabilities	Other Liabilities The following table summarizes the components of Other liabilities - Note 8 and Other liabilities, non-current (dollars in thousands): June 30, December 31, Other liabilities, current Accrued compensation $ 2,769 $ 1,560 Salary continuation payments 2,058 1,215 Restricted stock units 91 913 Deferred payroll tax liability 471 436 Accrued directors' fees 38 33 Total $ 5,427 $ 4,157 Other liabilities, non-current Salary continuation payments $ 827 $ 1,145 Deferred payroll tax liability 471 505 Total $ 1,298 $ 1,650 Salary continuation payments The Company has entered into separation agreements with former executives that provide for, among other things, continuation of such former executives' salaries and certain benefits for periods of 12-24 months from the date of separation. Deferred payroll tax liability Under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), the Company has deferred payment of certain employer payroll taxes, with 50% due December 31, 2021 and 50% due December 31, 2022.

Debt, Net

Debt, Net	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt, Net	Debt, Net Debt covenants The Company’s debt agreements contain representations and warranties, events of default, restrictions and limitations, reporting requirements, and covenants that are customary for agreements of these types. As of June 30, 2021, the Company was in compliance with all covenants under its debt agreements. Debt balances The following table summarizes the components of Debt, net (dollars in thousands): June 30, December 31, Debt, net, current: Sprott Credit Agreement (1) $ 9,711 $ 5,274 Note payable (2) 100 — Less, debt issuance costs (198) (154) Total $ 9,613 $ 5,120 Debt, net, non-current: Subordinated Notes $ 89,090 $ 84,797 Sprott Credit Agreement, net of original issue discount ($8.2 million, net) 61,782 61,894 Note payable (2) 282 — Less, debt issuance costs (3,298) (4,026) Total $ 147,856 $ 142,665 (1) Amount included: (i) $2.2 million of Additional Interest, as defined in the Sprott Credit Agreement, and (ii) $7.5 million scheduled principal payments under the Sprott Credit Agreement, all due in the next twelve months. (2) In February 2021, the Company financed the $0.4 million purchase of a rental fuel/lube truck with a note payable to the vendor with an interest rate of 0.99%, requiring equal monthly payments for 48 months. The following table summarizes the Company's contractual payments of Debt, net , including current maturities, for the five years subsequent to June 30, 2021 (dollars in thousands): July 1, 2021 through December 31, 2021 $ 4,906 2022 17,332 2023 24,836 2024 24,837 2025 101,475 Total 173,386 Less, original issue discount, net of amortization ($4.6 million) (12,421) Less, debt issuance costs, net of amortization ($0.4 million) (3,496) Total Debt, net, current and non-current $ 157,469 Interest expense, net of capitalized interest The following table summarizes the components of recorded Interest expense, net of capitalized interest (dollars in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Sprott Credit Agreement $ 2,767 $ 796 $ 5,407 $ 796 Subordinated Notes 2,173 711 4,293 711 Amortization of debt issuance costs 350 635 685 1,307 Other interest expense 8 8 16 8 2.0 Lien Notes — 5,085 — 12,901 1.5 Lien Notes — 3,496 — 8,635 1.25 Lien Notes — 2,866 — 6,218 First Lien Agreement — 1,708 — 4,575 Promissory Note — 57 — 142 Capitalized interest — (290) (654) (334) Total $ 5,298 $ 15,072 $ 9,747 $ 34,959 The Company capitalizes interest to Plant, equipment, and mine development, net on the condensed consolidated balance sheets for construction projects in accordance with ASC Topic 835, Interest . Except for the First Lien Agreement and other interest expense, amounts shown in the table above represent non-cash interest expense charges.

Royalty Obligation

Royalty Obligation	6 Months Ended
	Jun. 30, 2021
Other Liabilities Disclosure [Abstract]
Royalty Obligation	Royalty Obligation On May 29, 2020, the closing date of the Recapitalization Transaction, the Company and Sprott Private Resource Lending II (Co) Inc. (the “Payee”) entered into a royalty agreement with respect to the Hycroft Mine (the “Sprott Royalty Agreement”) in which Payee paid to the Company cash consideration in the amount of $30.0 million, for which the Company granted to Payee a perpetual royalty equal to 1.5% of the Net Smelter Returns from its Hycroft Mine, payable monthly. Net Smelter Returns for any given month are calculated as Monthly Production multiplied by the Monthly Average Gold Price and the Monthly Average Silver Price, minus Allowable Deductions, as such terms are defined in the Sprott Royalty Agreement. The Company is required to remit royalty payments to the Payee free and clear and without any present or future deduction, withholding, charge or levy on account of taxes, except Excluded Taxes as such term is defined in the Sprott Royalty Agreement. The Company has the right to repurchase up to 33.3% (0.5% of the 1.5% royalty) of the royalty on each of the first and second anniversaries from May 29, 2020. The Company did not exercise its right to repurchase 0.5% on the first anniversary. The Sprott Royalty Agreement is secured by a first priority lien on certain property of the Hycroft Mine, including: (1) all land and mineral claims, leases, interests, and rights; (2) water rights, wells, and related infrastructure; and (3) stockpiles, buildings, structures, and facilities affixed to, or situated on, the Hycroft Mine, which ranks senior to security interests and liens granted pursuant to the Sprott Credit Agreement. In addition to the terms generally described above, the Sprott Royalty Agreement contains other terms and conditions commonly contained in royalty agreements of this nature. During the three and six months ended June 30, 2021, the Company recorded amortization of its royalty obligation of approximately $0.1 million and $0.1 million, respectively, and made payments of $0.6 million and $1.0 million, respectively. As of June 30, 2021, $0.4 million of the royalty obligation was recorded as a current liability based upon the estimated gold and silver expected to be produced over the next 12 months, using the current mine plan, and current proven and probable mineral reserves.

Warrants

Warrants	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Warrants	Warrants The following table summarizes the Company's outstanding warrants (dollars in thousands): Balance at January 1, 2021 Fair Value Adjustments (1) Transfers to an Unrelated Third Party Balance at June 30, 2021 Warrants Amount Warrants Amount Warrants Amount Warrants Amount Warrant liabilities, non-current 5-Year Private Warrants 9,888,415 $ 15,326 — $ (10,106) (394,863) $ (284) 9,493,552 $ 4,936 Seller Warrants 12,721,901 63 — (38) — — 12,721,901 25 Total 22,510,038 $ 15,389 — $ (10,144) (394,863) $ (284) 22,115,175 $ 4,961 Equity classified warrants 5-Year Public Warrants 24,401,483 $ 28,619 — $ — 394,863 $ 284 24,796,346 $ 28,903 Public Offering Warrants 9,583,334 12,938 — — — — 9,583,334 12,938 Total 33,984,817 $ 41,557 — $ — 394,863 $ 284 34,379,680 $ 41,841 (1) Liability classified warrants are subject to fair value remeasurement at each balance sheet date in accordance with ASC 814-40, Contracts on Entity's Own Equity. As a result, fair value adjustments related exclusively to the Company's liability classified warrants. Refer to Note 18 - Fair Value Measurements for further detail on the fair value of the Company's liability classified warrants. The following table summarizes additional information on the Company's outstanding warrants: Exercise Price Exercise Period Expiration Date Warrants Outstanding Warrant liabilities, non-current 5-Year Private Warrants $ 11.50 5 years May 29, 2025 9,493,552 Seller Warrants 40.31 7 years October 22, 2022 12,721,901 Equity classified warrants 5-Year Public Warrants $ 11.50 5 years May 29, 2025 24,796,346 Public Offering Warrants 10.50 5 years October 6, 2025 9,583,334 Warrant liabilities, non-current 5-Year Private Warrants Prior to the Recapitalization Transaction, MUDS issued 7,740,000 warrants to purchase 7,740,000 shares of common stock, and concurrently with the Recapitalization Transaction, the Company issued 2,500,000 private placement warrants as part of a forward purchase unit offering (collectively, the "5-Year Private Warrants"). Refer to Note 3 - Recapitalization Transaction for further detail on the Recapitalization Transaction. The 5-Year Private Warrants cannot be redeemed and can be exercised on a cashless basis if the 5-Year Private Warrants are held by the initial purchasers or their permitted transferees. If the 5-Year Private Warrants are transferred to someone other than the initial purchasers or their permitted transferees ("Unrelated Third Party"), such warrants become redeemable by the Company under substantially the same terms as the 5-Year Public Warrants. Since the original issue of private warrants, transfers to Unrelated Third Party totaled 746,448, including 351,585 and 394,863 in the year ended 2020 and in the second quarter of 2021, respectively, and therefore became classified as 5-Year Public Warrants. Seller Warrants In connection with the Recapitalization Transaction, the Company assumed the obligations and liabilities under that certain warrant agreement, dated as of October 22, 2015, by and between Seller and Computershare Inc., a Delaware corporation, and its wholly owned subsidiary Computershare Trust Company, N.A., a federally chartered trust company, collectively as initial warrant agent; and Continental Stock Transfer & Trust Company, LLC was named as the successor warrant agent (the “Seller Warrant Agreement”). Pursuant to the assumption of the Seller Warrant Agreement, the warrants issued thereunder (the “Seller Warrants”) became exercisable into shares of common stock. Under the Seller Warrant Agreement, certain adjustments are required to be made to: (i) the exercise price of each Seller Warrant; and (ii) the number of shares of common stock issuable upon exercise of each Seller Warrant upon issuing shares of common stock to “Restricted Persons” as defined in the Seller Warrant Agreement. As of June 30, 2021, the exercise price of each Seller Warrant was $40.31 per share of common stock and the number of shares of common stock issuable upon exercise of each Seller Warrant was 0.28055. As a result, an aggregate of 3,569,129 shares of common stock are issuable upon exercise of the 12,721,901 outstanding Seller Warrants. The Seller Warrants are listed on the Nasdaq Capital Market under the symbol "HYMCZ". Equity classified warrants 5-Year Public Warrants Prior to the Recapitalization Transaction, MUDS issued 20,800,000 units, with each unit consisting of one share of common stock and one warrant to purchase one share of common stock (the "IPO Warrants"), and concurrently with the Recapitalization Transaction, the Company issued 3,249,999 warrants upon substantially similar terms as part of a backstop unit offering (the "Backstop Warrants" and collectively with the IPO Warrants, the "5-Year Public Warrants"). Refer to Note 3 - Recapitalization Transaction for further detail on the Recapitalization Transaction. The Company has certain abilities to call the 5-year Public Warrants if the last reported sale price of common stock equals or exceeds $18.00 per share (as adjusted for share splits, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period. The 5-Year Public Warrants (other than the Backstop Warrants) are listed for trading on the Nasdaq Capital Market under the symbol "HYMCW". Public Offering Warrants On October 6, 2020, the Company issued 9,583,334 units in an underwritten public offering (the "Public Offering"), with each unit consisting of one share of common stock and one warrant to purchase one share of common stock (the "Public Offering Warrants"). Of the 9.6 million units issued, 5.0 million units were issued to Restricted

Asset Retirement Obligation ("A

Asset Retirement Obligation ("ARO")	6 Months Ended
	Jun. 30, 2021
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligation	Asset Retirement Obligation ("ARO") The following table summarizes changes in the Company’s ARO (dollars in thousands): June 30, 2021 December 31, 2020 Balance, beginning of period $ 4,785 $ 4,374 Accretion expense 204 374 Changes in estimates $ — $ 37 Balance, end of period $ 4,989 $ 4,785

Revenues

Revenues	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenues	Revenues The table below is a summary of the Company’s gold and silver sales (dollars in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Amount Ounces Amount Ounces Amount Ounces Amount Ounces Gold sales $ 30,900 17,060 $ 7,284 4,237 $ 48,441 26,890 $ 17,612 10,797 Silver sales 5,101 189,766 352 21,331 6,596 247,002 1,148 70,703 Total $ 36,001 $ 7,636 $ 55,037 $ 18,760 While the Company is not obligated to sell any of its gold and silver to one customer, the majority of gold and silver sales during both of the six months ended June 30, 2021 and 2020 were to two customers. For the three and six months ended June 30, 2021, approximately 87.3% and 90.5% of revenue was attributable to sales to the same customer, respectively. For the three and six months ended June 30, 2020, approximately 93.0% and 95.1% of revenue was attributable to sales to one customer, respectively.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Performance and Incentive Pay Plan ("PIPP") As of June 30, 2021 there were 897,161 shares available for issuance under the PIPP. As of June 30, 2021, all awards granted under the PIPP were in the form of restricted stock units to employees or consultants of the Company. Restricted stock units granted under the PIPP without performance-based vesting criteria typically vest in either equal annual installments over two two two For restricted stock units granted in the first quarter of 2019 that had not vested as of June 30, 2021 a price per share was not determined as of the grant date. The number of shares of common stock of the Company to be issued upon vesting is to be calculated on the vesting date, which is either the second or third anniversary of the date of the grant, or the annual date the compensation committee determines the achievement of the corporate performance targets. Such unvested restricted stock unit awards are included in Other liabilities, non-current . Refer to Note 8 - Other Liabilities for further detail. The following table summarizes the Company’s stock-based compensation cost and unrecognized stock-based compensation cost (dollars in thousands): Performance and Incentive Pay Six Months Ended Six Months Ended Non-vested at beginning of year $ 2,912 $ 2,509 Granted 5,709 — Canceled/forfeited (629) (1,369) Stock-based compensation expense (1,586) (642) Non-vested at end of period $ 6,406 $ 498 During the six months ended June 30, 2021 and the year ended December 31, 2020, the Company reclassified $0.4 million and $1.8 million from Other liabilities, current to Additional paid-in capital for restricted stock units that vested.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company's anticipated annual tax rate is impacted primarily by the amount of taxable income associated with each jurisdiction in which its income is subject to income tax, permanent differences between the financial statement carrying amounts and tax basis of assets and liabilities. During the three and six months ended June 30, 2021, and 2020, the Company incurred no net income tax expense or benefit. The effective tax rate for the three and six months ended June 30, 2021, and 2020, was 0%. The effective tax rates differed from the statutory rate during each period primarily due to changes in the valuation allowance established to offset net deferred tax assets.

Loss Per Share

Loss Per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Loss Per Share	Loss Per Share The table below summarizes the Company's basic and diluted loss per share calculations (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net loss $ (8,427) $ (50,712) $ (18,115) $ (85,330) Weighted average shares outstanding Basic 59,927,523 18,395,983 59,914,487 9,359,655 Diluted 59,927,523 18,395,983 59,914,487 9,359,655 Basic loss per common share $ (0.14) $ (2.76) $ (0.30) $ (9.12) Diluted loss per common share $ (0.14) $ (2.76) $ (0.30) $ (9.12) Basic and diluted net loss per share is computed by dividing the net loss for the period by the weighted average number of common shares outstanding during the period. Loss per share amounts in the 2020 period exclude the common share effects from certain of Seller's debt instruments, which are reflected in the 2021 period. Due to the Company's net loss during the three and six months ended June 30, 2021 and 2020, there was no dilutive effect of common stock equivalents because the effects of such would have been anti-dilutive. The following table summarizes the shares excluded from the weighted average number of common shares outstanding, as the impact would be anti-dilutive (in thousands): June 30, 2021 2020 Warrants 56,495 37,500 Restricted stock units 1,190 149 Total 57,685 37,649

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information The Company's reportable segments are comprised of operating units that have revenues, earnings or losses, or assets exceeding 10% of the respective consolidated totals, and are consistent with the Company’s management reporting structure. Each segment is reviewed by the executive decision-making group to make decisions about allocating the Company's resources and to assess their performance. The tables below summarize the Company's segment information (dollars in thousands): Three Months Ended June 30, Six Months Ended June 30, Hycroft Mine Corporate and Other Total Hycroft Mine Corporate and Other Total 2021 Revenue - Note 13 $ 36,001 $ — $ 36,001 $ 55,037 $ — $ 55,037 Cost of sales 33,501 — 33,501 62,903 — 62,903 Other operating costs 1,125 5,164 6,289 1,720 8,958 10,678 Loss from operations 1,375 (5,164) (3,789) (9,586) (8,958) (18,544) Interest expense - Note 9 — (5,298) (5,298) — (9,747) (9,747) Fair value adjustment to warrants - Notes 11 and 18 — 651 651 — 10,144 10,144 Interest income 9 — 9 32 — 32 Income (loss) before income taxes 1,384 (9,811) (8,427) (9,554) (8,561) (18,115) Income taxes - Note 15 — — — — — — Net income (loss) $ 1,384 $ (9,811) $ (8,427) $ (9,554) $ (8,561) $ (18,115) 2020 Revenue - Note 13 $ 7,636 $ — $ 7,636 $ 18,760 $ — $ 18,760 Cost of sales 31,863 — 31,863 55,731 — 55,731 Other operating costs 94 10,432 10,526 187 12,438 12,625 Loss from operations (24,321) (10,432) (34,753) (37,158) (12,438) (49,596) Interest expense - Note 9 (56) (15,016) (15,072) (141) (34,818) (34,959) Fair value adjustment to warrants - Notes 11 and 18 — (922) (922) — (922) (922) Interest income 35 — 35 147 — 147 Loss before income taxes (24,342) (26,370) (50,712) (37,152) (48,178) (85,330) Income taxes - Note 15 — — — — — — Net loss $ (24,342) $ (26,370) $ (50,712) $ (37,152) $ (48,178) $ (85,330)

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Recurring fair value measurements The following table sets forth by level within the fair value hierarchy, the Company’s liabilities measured at fair value on a recurring basis (dollars in thousands). Hierarchy June 30, December 31, Liabilities: Other liabilities, non-current 5-Year Private Warrants 2 4,936 15,327 Seller Warrants 2 25 62 Total $ 4,961 $ 15,389 5-Year Private Warrants The 5-Year Private Warrants are valued using a Black-Scholes model that requires a variety of inputs including the Company's stock price, the strike price of the 5-Year Private Warrants, the risk-free rate, and the implied volatility. As the terms of the 5-Year Private Warrants are identical to the terms of the 5-Year Public Warrants except that the 5-Year Private Warrants, while held by the SPAC sponsor and/or SPAC underwriter and their permitted transferees, are precluded from mandatory redemption and are entitled to be exercise on a "cashless basis" at the holder’s election, the implied volatility used in the Black-Scholes model is calculated using a Monte-Carlo model of the 5-Year Public Warrants that factors in the restrictive redemption and cashless exercise features of the 5-Year Private Warrants. The Company updates the fair value calculation on at least a quarterly basis, or more frequently if changes in circumstances and assumptions indicate a change from the existing carrying value. Seller Warrants As part of the Recapitalization Transaction, the Company assumed Seller's obligations under the Seller Warrant Agreement and the 12.7 million Seller Warrants outstanding became exercisable into shares of the Company's common stock. The Seller Warrant Agreement also contains certain terms and features to reduce the exercise price and increase the number of shares of common stock each warrant is exercisable into. As a result, Seller Warrants are considered derivative financial instruments and carried at fair value. The fair value of Seller Warrants was computed by an independent third-party consultant (and validated by the Company) using a Monte Carlo simulation-based model that requires a variety of inputs, including contractual terms, market prices, exercise prices, equity volatility and discount rates. The Company updates the fair value calculation on at least an annual basis, or more frequently if changes in circumstances and assumptions indicate a change from the existing carrying value. See Note 11 - Warrants for additional information on the Seller Warrants. Items disclosed at fair value Debt, net The Sprott Credit Agreement and the Subordinated Notes are privately held and, as such, there is no public market or trading information available for such debt instruments. As of June 30, 2021 and December 31, 2020, the fair value of the Company’s debt instruments was $165.6 million and $154.9 million, compared to the carrying value of $157.5 million and $147.8 million as of June 30, 2021 and December 31, 2020, respectively. The fair value of the principal of the Company’s debt instruments, including capitalized interest, was estimated using a market approach in which pricing information for publicly traded, non-convertible debt instruments with speculative ratings were analyzed to derive a mean trading multiple to apply to the December 31, 2020 balances. Royalty obligation As of June 30, 2021 and December 31, 2020, the estimated net present value of the Company’s Royalty obligation was $106.6 million and $148.4 million, respectively, compared to the carrying value of $29.8 million and $30.0 million as of June 30, 2021 and December 31, 2020, respectively. The net present value of the Company's Royalty obligation was modeled using the following level 3 inputs: (i) market consensus inputs for future gold and silver prices; (ii) a precious metals industry consensus discount rate of 5.0%; and (iii) estimates of the Hycroft Mine’s life-of-mine gold and silver production volumes and timing.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2021
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information The following table provides supplemental cash flow information (dollars in thousands): Six Months Ended June 30, 2021 2020 Cash interest paid $ 532 $ 5,366 Significant non-cash financing and investing activities: Increase in debt from in-kind interest 6,914 Plant, equipment, and mine development acquired by note payable 407 — Plant, equipment, and mine development additions included in accounts payable 329 3,038 Liability based restricted stock units transferred to equity 284 — Exchange of Seller lien notes for HYMC common stock — 208,713 Exchange of Seller lien notes for Subordinated Notes — 80,000 Allocate and write-off Seller's debt issuance costs — 8,202

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies From time to time, the Company is involved in various legal actions related to its business, some of which are class action lawsuits. Management does not believe, based on currently available information, that contingencies related to any pending or threatened legal matter will have a material adverse effect on the Company’s financial statements, although a contingency could be material to the Company’s results of operations or cash flows for a particular period depending on the results of operations and cash flows for such period. Regardless of the outcome, litigation can have an adverse impact on the Company because of defense and settlement costs, diversion of management resources, and other factors. The Company has deductible-based insurance policies for certain losses related to general liability, workers’ compensation and automobile coverage. The Company records accruals for contingencies related to its insurance policies when it is probable that a liability has been incurred and the amount can be reasonably estimated. These accruals are adjusted periodically as assessments change or additional information becomes available. Insurance losses for claims filed and claims incurred but not reported are accrued based upon estimates of the aggregate liability for uninsured claims using historical loss development factors and actuarial assumptions followed in the insurance industry. Financial commitments not recorded in the financial statements As of June 30, 2021 and December 31, 2020, the Company's off-balance sheet arrangements consisted of operating lease agreements, a net profit royalty arrangement, and a future purchase obligation for consignment inventory. Operating leases During the year ended December 31, 2020, the Company signed two leases for the rental of mining equipment. The operating leases for mobile mining equipment are used to supplement the Company’s own fleet. Each lease has less than a year remaining as of June 30, 2021. The total remaining minimum lease payments for the two leases was approximately $0.9 million as of June 30, 2021. During the first quarter of 2021, the Company executed an operating lease agreement for a new large wheel loader with equal monthly payments of $0.1 million payable over four years, in addition to monthly maintenance payments based upon a fixed rate per service maintenance units. The total remaining minimum lease payments for this lease was approximately $8.5 million (including maintenance payments of $3.7 million) as of June 30, 2021. The Company also holds operating leases for office buildings. Rent expense is $0.1 million annually and the leases expire between July 2021 and January 2022. Net profit royalty A portion of the Hycroft Mine is subject to a mining lease that requires a 4% net profit royalty be paid to the owner of certain patented and unpatented mining claims. The mining lease also requires an annual advance payment of $120,000 every year mining occurs on the leased claims. All advance annual payments are credited against the future payments due under the 4% net profit royalty. An additional payment of $120,000 is required for each year total tons mined on the leased claims exceeds 5.0 million tons. As of June 30, 2021, total tons mined from the leased claims did not exceed 5.0 million tons. The total payments due under the mining lease are capped at $7.6 million, of which the Company has paid or accrued $2.8 million and included $0.5 million in Other assets, non-current in the consolidated balance sheets as of June 30, 2021. Consignment inventory As of June 30, 2021, the Company has prepaid $1.9 million towards un-replenished consignment stock inventory, which is included in Prepaids and other on the condensed consolidated balance sheets. Additionally, during the first quarter of 2021, the Company purchased $0.5 million of replenished consignment stock inventory, payable monthly in 12 equal payments which began in March 2021. Replenished stock inventory is included in Other assets, non-current on the condensed consolidated balance sheet, with an offsetting payable included in Accounts payable on the condensed consolidated balance sheet.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Certain amounts of the Company's indebtedness have historically, and with regard to the $80.0 million of Subordinated Notes, are currently, held by five financial institutions. As of June 30, 2021, three of the financial institutions, Highbridge Capital Management, LLC (“Highbridge”), Mudrick Capital Management, L.P (“Mudrick”) and, Whitebox Advisors, LLC (“Whitebox”), held more than 10% of the common stock of the Company and, as a result, each are considered a related party (the "Related Parties") in accordance with ASC 850, Related Party Disclosures . For the three and six months ended June 30, 2021, Interest expense, net of capitalized interest included $1.8 million and $3.6 million, respectively, for the debt held by Related Parties. For the three and six months ended June 30, 2020, Interest expense, net of capitalized interest included $12.7 million and $27.8 million, respectively, for the debt held by Related Parties. As of June 30, 2021 and December 31, 2020, the Related Parties held a total $74.8 million and $71.2 million, respectively, of debt. Additionally, during 2020, the Company's Compensation Committee and Board of Directors approved annual Director compensation arrangements for non-employee directors, of which $0.2 million is payable to Mudrick as of June 30, 2021. During the three months ended June 30, 2021, the Company paid $0.03 million to Mudrick and Mudrick vested in 5,047 restricted stock units that will convert into the same number of shares of the Company's common stock upon the Mudrick representative no longer serving on the Company's Board of Directors. In connection with the closing of the Public Offering on October 6, 2020, Highbridge and Mudrick acquired 833,333, and 3,222,222 of the units, consisting of shares of common stock and Public Offering Warrants, issued in the Public Offering, respectively. Refer to Note 11 - Warrants

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Restatement of Previously Issued Financial Statements	Restatement of Previously Issued Financial Statements On April 12, 2021, the Acting Director of the Division of Corporation Finance and Acting Chief Accountant of the Securities and Exchange Commission together issued a statement regarding the accounting and reporting considerations for warrants issued by special purpose acquisition companies entitled "Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (“SPACs”) (the “SEC Statement”). Specifically, the SEC Statement clarified guidance for all SPAC-related companies regarding the accounting and reporting for their warrants and focused in part on provisions in warrant agreements that provide for potential changes to the settlement amounts dependent upon the characteristics of the warrant holder, and because the holder of such warrants would not be an input into the pricing of a fixed-for-fixed option on equity shares, such provision would preclude such warrants from being classified in equity and thus such warrants should be classified as a liability. As previously disclosed in the Company's Annual Report on Form 10-K/A, as filed on May 14, 2021 (“2020 Form 10-K/A”), the Company restated its previously issued consolidated financial statements and accompanying notes as of and for the year ended December 31, 2020, to make the necessary accounting corrections related to warrant accounting and to recognize certain warrants as a liability instead of as equity, in accordance with Accounting Standards Codification (“ASC”) 815-40, Contracts in Entity’s Own Equity. As a smaller reporting company that was not required to include quarterly financial information in the 2020 Form 10-K/A, the Company did not amend its previously issued Quarterly Reports on Form 10-Q for any period prior to December 31, 2020. The Company restated the condensed consolidated financial statements for the three and six month periods ended June 30, 2020, as reflected below. 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.
Basis of presentation	Basis of presentation These condensed consolidated interim financial statements of the Company have been prepared, without audit, in accordance with U.S. generally accepted accounting principles (“GAAP”) and pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, these financial statements do not include all information and footnotes necessary for a comprehensive presentation of financial position, results of operations, or cash flows. These unaudited condensed consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and the notes thereto as of and for the year ended December 31, 2020, as amended. The Company continues to follow the accounting policies set forth in those audited consolidated financial statements. In the opinion of management, the accompanying unaudited condensed consolidated interim financial statements include all adjustments that are necessary for a fair presentation of the Company's interim financial position, operating results and cash flows for the periods presented.
Risks and Uncertainties	Risks and Uncertainties The Company has a single mine with its revenue, profitability, and cash flows substantially dependent on prevailing prices for gold and silver and its ability to mine sufficient volumes cost effectively. Historically, the commodity markets have been very volatile, and there can be no assurance that commodity prices will not be subject to wide fluctuations in the future. A substantial or extended decline in commodity prices could have a material adverse effect on the Company’s financial position, results of operations, cash flows, access to capital and the quantities of mineral reserves that the Company can economically produce.
Going concern	Going concern The financial statements of the Company have been prepared on a “going concern” basis, which contemplates the presumed continuation of the Company even though events and conditions exist that, when considered individually or in the aggregate, raise substantial doubt about the Company’s ability to continue as a going concern because it is probable that, without additional capital injections, the Company may be unable to meet its obligations as they become due within one year after the date that these financial statements were issued. For the six months ended June 30, 2021, the Company recorded a net loss of $18.1 million, which included a gain from Fair value adjustments to warrants of $10.1 million, and net cash used in operating activities was $21.3 million. As of June 30, 2021, the Company had available cash on hand of $30.2 million, working capital of $63.6 million, Total liabilities of $219.6 million, and an Accumulated deficit of $538.9 million. Based on the Company's internal cash flow projection models, the Company currently forecasts it will likely require additional cash from financing activities within 12 months from the issuance of this report to meet its operating and investing requirements and future obligations as they become due, including the estimated $9.6 million in cash payments required pursuant to the Credit Agreement among MUDS, MUDS Holdco Inc., Allied VGH LLC, Hycroft Mining Holding Corporation, Hycroft Resources and Development, LLC, Sprott Private Resource Lending II (Collector) Inc., and Sprott Resources Lending Corp. (“Sprott Credit Agreement”). The Company’s ability to continue as a going concern is contingent upon securing additional funding for working capital, capital expenditures and other corporate expenses so that it can increase sales by achieving higher cost-effective operating tonnages and recovery rates and generate positive free cash flows. These financial statements do not include any adjustments related to the recoverability and classification of recorded assets or the amounts and classification of any liabilities or any other adjustments that might be necessary should the Company be unable to continue as a going concern. As such, recorded amounts in these financial statements (including without limitation, stockholders’ equity) have been prepared on a historical-cost basis, as required, which do not reflect or approximate the current fair value of the Company’s assets or management’s assessment of the Company’s overall enterprise or equity value.
Use of estimates	Use of estimates The preparation of the Company’s financial statements requires management to make estimates and assumptions that affect amounts reported in these financial statements and accompanying notes. The more significant areas requiring the use of management estimates and assumptions relate to: recoverable gold and silver on stockpiles, leach pads and in-process inventories; timing of near-term ounce production and related sales; the useful lives of long-lived assets; probabilities of future expansion projects; estimates of mineral reserves; estimates of life-of-mine production timing, volumes, costs and prices; current and future mining and processing plans; environmental reclamation and closure costs and timing; deferred taxes and related valuation allowances; estimates of the fair value of liability classified warrants, and estimates of fair value for asset impairments and financial instruments. The Company bases its estimates on historical experience and various other assumptions that are believed to be reasonable at the time the estimate is made. Actual results may differ from amounts estimated in these financial statements, and such differences could be material. Accordingly, amounts presented in these financial statements are not indicative of results that may be expected for future periods.
Inventories	Inventories The Company’s production-related inventories include: (i) stockpiles; (ii) ore on leach pads; (iii) in-process inventories; and (iv) doré and off-site carbon and slag finished goods. Production-related inventories are carried at the lower of average cost or net realizable value per estimated recoverable gold ounce, which is computed for each category of production-related inventories at each reporting period. Net realizable value represents the estimated future gold revenue of production-related inventories after adjusting for silver by-product revenue and deductions for further processing, refining, and selling costs. The estimated future revenue is calculated using sales prices based on the London Bullion Market Association’s (“LBMA”) quoted period-end metal prices. Estimates for silver revenue by-products credits and deductions for estimated costs to complete reflect the Company’s historical experience for expected processing, refining and selling plans. Actual net realizable values for gold sales may be different from such estimates. Changes to inputs and estimates resulting from changes in facts and circumstances are recognized as a change in management estimate on a prospective basis. Stockpiles Stockpiles represents ore that has been extracted from the mine and is available for further processing. Stockpiles are subject to oxidation over time which can impact expected future recoveries depending on the process recovery method. The value of the stockpiles is measured by estimating the number of tons added and removed from the stockpiles, the number of contained ounces based on assay data, and the estimated metallurgical recovery rates based on the expected processing method. Costs are added to the value of the stockpiles based on current mining costs, including applicable overhead and depreciation and amortization relating to the Company's mining operations. Ore on leach pads Ore on leach pads represents ore that has been mined and placed on leach pads where a solution is applied to dissolve the contained gold and silver. Costs are added to ore on leach pads based on current mining costs, including reagents, leaching supplies, and applicable depreciation and amortization relating to mining operations. As gold-bearing materials are further processed, costs are transferred from ore on leach pads to in-process inventories at an average cost per estimated recoverable ounce of gold. Although the quantities of recoverable metal placed on the leach pads are reconciled by comparing the grades of ore placed on pads to the quantities of metal actually recovered (metallurgical balancing), the nature of the leaching process inherently limits the ability to precisely monitor inventory levels. As a result, the metallurgical balancing process is constantly monitored, and estimates are refined based on actual results over time and changes in future estimates. In-process inventories In-process inventories represent gold-bearing concentrated materials that are in the process of being converted to a saleable product using a Merrill-Crowe plant or carbon-in-column processing method. As gold ounces are recovered from in-process inventories, costs, including conversion costs are transferred to precious metals inventory at an average cost per ounce of gold. Precious metals inventory Precious metals inventory consists of doré and loaded carbon containing both gold and silver, which is ready for offsite shipment or at a third-party refiner before being sold to a third party. As gold ounces are sold, costs are recognized in Production costs and Depreciation and amortization in the consolidated statements of operations at an average cost per gold ounce sold. Materials and supplies Materials and supplies are valued at the lower of average cost or net realizable value. Cost includes applicable taxes and freight.
Warrants	Warrants Warrant liabilities, non-current The Company accounts for certain warrants to purchase shares of the Company’s common stock that were issued to the SPAC sponsor and/or underwriter in a private placement and/or pursuant to a forward purchase contract (the “5-Year Private Warrants”) that are not indexed to the Company’s own stock as warrant liabilities at fair value on the consolidated balance sheet. These warrants are subject to remeasurement at each balance sheet date and any change in fair value is recognized as a component of Other (expense) income on the condensed consolidated statement of operations. The Company will continue to adjust the liability for changes in fair value until the earlier of the (i) exercise or expiration of the 5-Year Private Warrants or (ii) the transfer of any 5-Year Private Warrants to any person who is not a permitted transferee, at which time the warrant liability will be reclassified to Additional paid-in capital on the condensed consolidated balance sheet. Equity classified warrants Warrants that are considered indexed to the Company's own stock, which are not required to be recorded as a liability are measured at fair value at the date of issuance and included in Additional paid-in capital
Projects and development	Projects and development Costs incurred to enhance our understanding of the recovery and processing of the current ore body to sustain production at existing operations that do not qualify for capitalization are expensed within Projects and development , which is included in Operating expenses on the condensed consolidated statement of operations. Projects and development costs include expenditures for: (i) analyzing established feasibility studies; (ii) conducting geological studies; (iii) oversight and project management; and (iv) drilling, engineering, and metallurgical activities.
Accounting pronouncements not yet adopted	Accounting pronouncements not yet adopted In February 2016, the Financial Accounting Standards Board ("FASB") issued ASU No. 2016-02, Leases ("ASU 2016-02"). The new standard establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the consolidated statements of operations and classification within the consolidated statement of cash flows. In October 2019, the FASB issued ASU No. 2019-10, Financial Instruments - Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) ("ASU 2019-10") that amends the effective date of ASU 2016-02 for emerging growth companies, such that the new standard is effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. As the Company qualifies as an emerging growth company, the Company has elected to take advantage of the deferred effective date afforded to emerging growth companies. A modified retrospective transition approach is required to either the beginning of the earliest period presented or the beginning of the year of adoption. The Company has compiled its leases and is in the process of estimating the impact on its consolidated financial statements and related disclosures. In December of 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), as part as part of its overall simplification initiative to reduce costs and complexity of applying accounting standards while maintaining or improving the usefulness of the information provided to users of financial statements. Amendments include removal of certain exceptions to the general principles of ASC 740, Income Taxes and simplification in several other areas such as accounting for a franchise tax (or similar tax) that is partially based on income. For emerging growth companies, the new guidance is effective for annual periods beginning after December 15, 2021. As the Company qualifies as an emerging growth company, the Company plans to take advantage of the deferred effective date afforded to emerging growth companies. The Company is currently evaluating the impact that adopting this update will have on its consolidated financial statements and related disclosures. In August 2020, the FASB issued ASU No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”). ASU 2020-06 simplifies guidance on accounting for convertible instruments and contracts in an entity’s own equity including calculating diluted earnings per share. For emerging growth companies, the new guidance is effective for annual periods beginning after December 15, 2022. As the Company qualifies as an emerging growth company, the Company plans to take advantage of the deferred effective date afforded to emerging growth companies. The Company is currently evaluating the impact that adopting this update will have on its consolidated financial statements and related disclosures. In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (a consensus of the FASB Emerging Issues Task Force) . ASU 2021-04 clarifies and reduces diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options ( e.g, , warrants) that remain equity classified after modification or exchange. ASU 2021-04 provides guidance that will clarify whether an issuer should account for a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange as (i) an adjustment to equity and, if so, the related earnings per share effects, if any, or (ii) an expense and, if so, the manner and pattern of recognition. The new guidance is effective for annual and interim periods beginning after December 15, 2021, and early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the impact that adopting this update will have on its consolidated financial statements and related disclosures.

Company Overview (Tables)

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 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 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 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

Inventories, net (Tables)

Inventories, net (Tables)	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Schedule of inventory	The following table provides the components of Inventories and the estimated recoverable gold ounces therein (dollars in thousands): June 30, 2021 December 31, 2020 Amount Gold Ounces Amount Gold Ounces Current inventories: Materials and supplies $ 7,211 — $ 6,449 — Merrill-Crowe process plant 1,643 944 4,810 2,587 Carbon-in-column 1,724 1,015 299 166 Finished good (doré and off-site carbon) 8,509 5,010 1,309 710 Non-current inventories: Stockpiles (1) — 3,818 — — Total $ 19,087 10,787 $ 12,867 3,463 (1) During 2021, the Company began stockpiling sulfide ore. The Company intends to use the stockpiles for testing related to the two-stage heap oxidation and leach process or for future processing. As of June 30, 2021, stockpiles had a value of $Nil due to the net realizable value analysis performed by the Company as discussed in the Mine site period costs
Schedule of inventory, Ore on leach pads	The following table summarizes Ore on leach pads and the estimated recoverable gold ounces therein (dollars in thousands): June 30, 2021 December 31, 2020 Amount Gold Ounces Amount Gold Ounces Ore on leach pads, current $ 37,664 21,723 $ 38,041 21,869 Ore on leach pads, non-current 7,298 4,209 7,243 4,164 Total $ 44,962 25,932 $ 45,284 26,033
Schedule of Mine site period costs	The following table summarize the components of Mine site period costs (dollars in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Production related costs $ 2,264 $ 11,996 $ 12,384 $ 18,631 Capitalized depreciation and amortization 170 874 594 1,431 Total $ 2,434 $ 12,870 $ 12,978 $ 20,062

Prepaids and Other (Tables)

Prepaids and Other (Tables)	6 Months Ended
	Jun. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Components of prepaids and other	The following table provides the components of Prepaids and other and Other assets, non-current (dollars in thousands): June 30, December 31, Prepaids and other Prepaids $ 5,129 $ 3,198 Deposits 1,107 1,105 Total $ 6,236 $ 4,303 Other assets, non-current Equipment not in use $ 12,238 $ 12,238 Consignment inventory - supplies 1,860 885 Royalty - advance payment 480 360 Total $ 14,578 $ 13,483 Prepaids The following table provides the components of prepaids included in the above table (dollars in thousands): June 30, December 31, 2020 Prepaid insurance $ 3,611 $ 1,847 Mining claims and permitting fees 1,255 417 Subscription and license fees 176 259 Equipment mobilization — 423 Other 87 252 Total $ 5,129 $ 3,198

Plant, Equipment, and Mine De_2

Plant, Equipment, and Mine Development, Net (Tables)	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Components of plant, equipment, and mine development, net	The following table provides the components of Plant, equipment, and mine development, net (dollars in thousands): Depreciation Life June 30, December 31, Leach pads Units-of-production $ 17,708 $ 17,432 Process equipment 5 - 15 years 17,555 16,065 Buildings and leasehold improvements 10 years 10,507 10,507 Mine equipment 5 - 7 years 8,242 5,961 Vehicles 3 - 5 years 1,322 991 Furniture and office equipment 7 years 352 322 Mine development Units-of-production 3,816 756 Mineral properties Units-of-production 37 37 Construction in progress and other 36,529 33,185 $ 96,068 $ 85,256 Less, accumulated depreciation and amortization (27,444) (25,033) Total $ 68,624 $ 60,223

Restricted Cash (Tables)

Restricted Cash (Tables)	6 Months Ended
	Jun. 30, 2021
Cash and Cash Equivalents [Abstract]
Components of restricted cash	The following table provides the components of Restricted cash (dollars in thousands): June 30, December 31, Reclamation and other surety bond cash collateral $ 34,855 $ 39,677

Other Liabilities (Tables)

Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2021
Other Liabilities Disclosure [Abstract]
Components of other liabilities	The following table summarizes the components of Other liabilities - Note 8 and Other liabilities, non-current (dollars in thousands): June 30, December 31, Other liabilities, current Accrued compensation $ 2,769 $ 1,560 Salary continuation payments 2,058 1,215 Restricted stock units 91 913 Deferred payroll tax liability 471 436 Accrued directors' fees 38 33 Total $ 5,427 $ 4,157 Other liabilities, non-current Salary continuation payments $ 827 $ 1,145 Deferred payroll tax liability 471 505 Total $ 1,298 $ 1,650

Debt, Net (Tables)

Debt, Net (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Components of debt	The following table summarizes the components of Debt, net (dollars in thousands): June 30, December 31, Debt, net, current: Sprott Credit Agreement (1) $ 9,711 $ 5,274 Note payable (2) 100 — Less, debt issuance costs (198) (154) Total $ 9,613 $ 5,120 Debt, net, non-current: Subordinated Notes $ 89,090 $ 84,797 Sprott Credit Agreement, net of original issue discount ($8.2 million, net) 61,782 61,894 Note payable (2) 282 — Less, debt issuance costs (3,298) (4,026) Total $ 147,856 $ 142,665 (1) Amount included: (i) $2.2 million of Additional Interest, as defined in the Sprott Credit Agreement, and (ii) $7.5 million scheduled principal payments under the Sprott Credit Agreement, all due in the next twelve months.
Schedule of maturities of long-term debt	The following table summarizes the Company's contractual payments of Debt, net , including current maturities, for the five years subsequent to June 30, 2021 (dollars in thousands): July 1, 2021 through December 31, 2021 $ 4,906 2022 17,332 2023 24,836 2024 24,837 2025 101,475 Total 173,386 Less, original issue discount, net of amortization ($4.6 million) (12,421) Less, debt issuance costs, net of amortization ($0.4 million) (3,496) Total Debt, net, current and non-current $ 157,469
Components of recorded interest expense	The following table summarizes the components of recorded Interest expense, net of capitalized interest (dollars in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Sprott Credit Agreement $ 2,767 $ 796 $ 5,407 $ 796 Subordinated Notes 2,173 711 4,293 711 Amortization of debt issuance costs 350 635 685 1,307 Other interest expense 8 8 16 8 2.0 Lien Notes — 5,085 — 12,901 1.5 Lien Notes — 3,496 — 8,635 1.25 Lien Notes — 2,866 — 6,218 First Lien Agreement — 1,708 — 4,575 Promissory Note — 57 — 142 Capitalized interest — (290) (654) (334) Total $ 5,298 $ 15,072 $ 9,747 $ 34,959

Warrants (Tables)

Warrants (Tables)	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Summary of outstanding warrants	The following table summarizes the Company's outstanding warrants (dollars in thousands): Balance at January 1, 2021 Fair Value Adjustments (1) Transfers to an Unrelated Third Party Balance at June 30, 2021 Warrants Amount Warrants Amount Warrants Amount Warrants Amount Warrant liabilities, non-current 5-Year Private Warrants 9,888,415 $ 15,326 — $ (10,106) (394,863) $ (284) 9,493,552 $ 4,936 Seller Warrants 12,721,901 63 — (38) — — 12,721,901 25 Total 22,510,038 $ 15,389 — $ (10,144) (394,863) $ (284) 22,115,175 $ 4,961 Equity classified warrants 5-Year Public Warrants 24,401,483 $ 28,619 — $ — 394,863 $ 284 24,796,346 $ 28,903 Public Offering Warrants 9,583,334 12,938 — — — — 9,583,334 12,938 Total 33,984,817 $ 41,557 — $ — 394,863 $ 284 34,379,680 $ 41,841 (1) Liability classified warrants are subject to fair value remeasurement at each balance sheet date in accordance with ASC 814-40, Contracts on Entity's Own Equity. As a result, fair value adjustments related exclusively to the Company's liability classified warrants. Refer to Note 18 - Fair Value Measurements for further detail on the fair value of the Company's liability classified warrants. The following table summarizes additional information on the Company's outstanding warrants: Exercise Price Exercise Period Expiration Date Warrants Outstanding Warrant liabilities, non-current 5-Year Private Warrants $ 11.50 5 years May 29, 2025 9,493,552 Seller Warrants 40.31 7 years October 22, 2022 12,721,901 Equity classified warrants 5-Year Public Warrants $ 11.50 5 years May 29, 2025 24,796,346 Public Offering Warrants 10.50 5 years October 6, 2025 9,583,334

Asset Retirement Obligations ("

Asset Retirement Obligations ("ARO") (Tables)	6 Months Ended
	Jun. 30, 2021
Asset Retirement Obligation Disclosure [Abstract]
Summary of changes in ARO	The following table summarizes changes in the Company’s ARO (dollars in thousands): June 30, 2021 December 31, 2020 Balance, beginning of period $ 4,785 $ 4,374 Accretion expense 204 374 Changes in estimates $ — $ 37 Balance, end of period $ 4,989 $ 4,785

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	The table below is a summary of the Company’s gold and silver sales (dollars in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Amount Ounces Amount Ounces Amount Ounces Amount Ounces Gold sales $ 30,900 17,060 $ 7,284 4,237 $ 48,441 26,890 $ 17,612 10,797 Silver sales 5,101 189,766 352 21,331 6,596 247,002 1,148 70,703 Total $ 36,001 $ 7,636 $ 55,037 $ 18,760

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Summary of restricted stock unit activity	The following table summarizes the Company’s stock-based compensation cost and unrecognized stock-based compensation cost (dollars in thousands): Performance and Incentive Pay Six Months Ended Six Months Ended Non-vested at beginning of year $ 2,912 $ 2,509 Granted 5,709 — Canceled/forfeited (629) (1,369) Stock-based compensation expense (1,586) (642) Non-vested at end of period $ 6,406 $ 498

Loss Per Share (Tables)

Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of basic and diluted loss per share	The table below summarizes the Company's basic and diluted loss per share calculations (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net loss $ (8,427) $ (50,712) $ (18,115) $ (85,330) Weighted average shares outstanding Basic 59,927,523 18,395,983 59,914,487 9,359,655 Diluted 59,927,523 18,395,983 59,914,487 9,359,655 Basic loss per common share $ (0.14) $ (2.76) $ (0.30) $ (9.12) Diluted loss per common share $ (0.14) $ (2.76) $ (0.30) $ (9.12)
Schedule of antidilutive securities excluded from computation	The following table summarizes the shares excluded from the weighted average number of common shares outstanding, as the impact would be anti-dilutive (in thousands): June 30, 2021 2020 Warrants 56,495 37,500 Restricted stock units 1,190 149 Total 57,685 37,649

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Summary of segment information	The tables below summarize the Company's segment information (dollars in thousands): Three Months Ended June 30, Six Months Ended June 30, Hycroft Mine Corporate and Other Total Hycroft Mine Corporate and Other Total 2021 Revenue - Note 13 $ 36,001 $ — $ 36,001 $ 55,037 $ — $ 55,037 Cost of sales 33,501 — 33,501 62,903 — 62,903 Other operating costs 1,125 5,164 6,289 1,720 8,958 10,678 Loss from operations 1,375 (5,164) (3,789) (9,586) (8,958) (18,544) Interest expense - Note 9 — (5,298) (5,298) — (9,747) (9,747) Fair value adjustment to warrants - Notes 11 and 18 — 651 651 — 10,144 10,144 Interest income 9 — 9 32 — 32 Income (loss) before income taxes 1,384 (9,811) (8,427) (9,554) (8,561) (18,115) Income taxes - Note 15 — — — — — — Net income (loss) $ 1,384 $ (9,811) $ (8,427) $ (9,554) $ (8,561) $ (18,115) 2020 Revenue - Note 13 $ 7,636 $ — $ 7,636 $ 18,760 $ — $ 18,760 Cost of sales 31,863 — 31,863 55,731 — 55,731 Other operating costs 94 10,432 10,526 187 12,438 12,625 Loss from operations (24,321) (10,432) (34,753) (37,158) (12,438) (49,596) Interest expense - Note 9 (56) (15,016) (15,072) (141) (34,818) (34,959) Fair value adjustment to warrants - Notes 11 and 18 — (922) (922) — (922) (922) Interest income 35 — 35 147 — 147 Loss before income taxes (24,342) (26,370) (50,712) (37,152) (48,178) (85,330) Income taxes - Note 15 — — — — — — Net loss $ (24,342) $ (26,370) $ (50,712) $ (37,152) $ (48,178) $ (85,330)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of fair value on recurring basis	The following table sets forth by level within the fair value hierarchy, the Company’s liabilities measured at fair value on a recurring basis (dollars in thousands). Hierarchy June 30, December 31, Liabilities: Other liabilities, non-current 5-Year Private Warrants 2 4,936 15,327 Seller Warrants 2 25 62 Total $ 4,961 $ 15,389

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2021
Supplemental Cash Flow Information [Abstract]
Schedule of supplemental cash flow information	The following table provides supplemental cash flow information (dollars in thousands): Six Months Ended June 30, 2021 2020 Cash interest paid $ 532 $ 5,366 Significant non-cash financing and investing activities: Increase in debt from in-kind interest 6,914 Plant, equipment, and mine development acquired by note payable 407 — Plant, equipment, and mine development additions included in accounts payable 329 3,038 Liability based restricted stock units transferred to equity 284 — Exchange of Seller lien notes for HYMC common stock — 208,713 Exchange of Seller lien notes for Subordinated Notes — 80,000 Allocate and write-off Seller's debt issuance costs — 8,202

Company Overview - Narrative (D

Company Overview - Narrative (Details)	6 Months Ended
	Jun. 30, 2021
Gold and silver | Revenue | Product concentration risk
Product Information [Line Items]
Concentration risk	100.00%

Company Overview - Schedule of

Company Overview - Schedule of prior period adjustments - Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Assets	$ 220,025		$ 232,626	$ 192,681
Liabilities:
Current liabilities	31,081		21,681	21,947
Other liabilities, non-current - Note 8	1,298		1,650	135
Debt, net, non-current - Note 9	147,856		142,665	139,044
Royalty obligation, non-current - Note 10	29,432		29,839	29,699
Asset retirement obligation, non-current - Note 12	4,989		4,785	4,561
Warrant liabilities, non-current - Note 11				13,126
Total liabilities	219,617		216,009	208,512
Stockholders' (deficit) equity
Common stock, $0.0001 par value; 400,000,000 shares authorized; 59,977,318 issued and outstanding at June 30, 2021; and 59,901,306 issued and outstanding at December 31, 2020	6		6	5
Additional paid-in capital	539,276		537,370	453,861
Accumulated deficit	(538,874)		(520,759)	(469,697)
Total stockholders' equity	408	$ 7,540	16,617	(15,831)	$ (473,869)	$ (439,251)
Total liabilities and stockholders' equity	$ 220,025		$ 232,626	192,681
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Assets				192,681
Liabilities:
Current liabilities				21,947
Other liabilities, non-current - Note 8				153
Debt, net, non-current - Note 9				139,044
Royalty obligation, non-current - Note 10				29,699
Asset retirement obligation, non-current - Note 12				4,561
Warrant liabilities, non-current - Note 11				0
Total liabilities				195,404
Stockholders' (deficit) equity
Common stock, $0.0001 par value; 400,000,000 shares authorized; 59,977,318 issued and outstanding at June 30, 2021; and 59,901,306 issued and outstanding at December 31, 2020				5
Additional paid-in capital				466,047
Accumulated deficit				(468,775)
Total stockholders' equity				(2,723)
Total liabilities and stockholders' equity				192,681
Restatement Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Assets				0
Liabilities:
Current liabilities				0
Other liabilities, non-current - Note 8				(18)
Debt, net, non-current - Note 9				0
Royalty obligation, non-current - Note 10				0
Asset retirement obligation, non-current - Note 12				0
Warrant liabilities, non-current - Note 11				13,126
Total liabilities				13,108
Stockholders' (deficit) equity
Common stock, $0.0001 par value; 400,000,000 shares authorized; 59,977,318 issued and outstanding at June 30, 2021; and 59,901,306 issued and outstanding at December 31, 2020				0
Additional paid-in capital				(12,186)
Accumulated deficit				(922)
Total stockholders' equity				(13,108)
Total liabilities and stockholders' equity				$ 0

Company Overview - Schedule o_2

Company Overview - Schedule of prior period adjustments - Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Revenues - Note 14	$ 36,001		$ 7,636		$ 55,037	$ 18,760
Cost of sales	(33,501)		(31,863)		(62,903)	(55,731)
Other operating costs	(6,289)		(10,526)		(10,678)	(12,625)
Loss from operations	(3,789)		(34,753)		(18,544)	(49,596)
Interest expense - Note 9	(5,298)		(15,072)		(9,747)	(34,959)
Fair value adjustment to warrants - Notes 11 and 18	651		(922)		10,144	(922)
Interest income	9		35		32	147
Loss before income taxes	(8,427)		(50,712)		(18,115)	(85,330)
Net loss	$ (8,427)	$ (9,688)	(50,712)	$ (34,618)	$ (18,115)	(85,330)
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Revenues - Note 14			7,636			18,760
Cost of sales			(31,863)			(55,731)
Other operating costs			(10,526)			(12,625)
Loss from operations			(34,753)			(49,596)
Interest expense - Note 9			(15,072)			(34,959)
Fair value adjustment to warrants - Notes 11 and 18			0			0
Interest income			35			147
Loss before income taxes			(49,790)			(84,408)
Net loss			(49,790)			(84,408)
Restatement Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Revenues - Note 14			0			0
Cost of sales			0			0
Other operating costs			0			0
Loss from operations			0			0
Interest expense - Note 9			0			0
Fair value adjustment to warrants - Notes 11 and 18			(922)			(922)
Interest income			0			0
Loss before income taxes			(922)			(922)
Net loss			$ (922)			$ (922)

Company Overview - Schedule o_3

Company Overview - Schedule of prior period adjustments - Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	$ (8,427)	$ (9,688)	$ (50,712)	$ (34,618)	$ (18,115)	$ (85,330)
Adjustments to reconcile net loss for the period to net cash used in operating activities:
Non-cash portion of interest expense - Note 9					9,215	30,376
Write-down of production inventories - Note 4					0	17,924
Depreciation and amortization					3,102	2,753
Stock-based compensation - Note 14					1,586	592
Non-cash (gain) loss on fair value adjustment for warrant liabilities - Note 11	(651)		922		(10,144)	922
Accretion - Note 12	102		94		204	187
Phantom share compensation					0	225
Changes in operating assets and liabilities						(25,291)
Net cash used in operating activities					(21,317)	(57,642)
Net cash used in investing activities					(9,065)	(11,704)
Cash flows from financing activities:					(583)	107,303
Net (decrease) increase in cash and restricted cash					(30,965)	37,957
Cash and restricted cash, beginning of period		$ 96,040		48,967	96,040	48,967
Cash and restricted cash, end of period	$ 65,075		86,924		$ 65,075	86,924
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss			(49,790)			(84,408)
Adjustments to reconcile net loss for the period to net cash used in operating activities:
Non-cash portion of interest expense - Note 9						30,376
Write-down of production inventories - Note 4						17,924
Depreciation and amortization						2,753
Stock-based compensation - Note 14						592
Non-cash (gain) loss on fair value adjustment for warrant liabilities - Note 11			0			0
Accretion - Note 12						187
Phantom share compensation						225
Changes in operating assets and liabilities						(25,291)
Net cash used in operating activities						(57,642)
Net cash used in investing activities						(11,704)
Cash flows from financing activities:						107,303
Net (decrease) increase in cash and restricted cash						37,957
Cash and restricted cash, beginning of period				48,967		48,967
Cash and restricted cash, end of period			86,924			86,924
Restatement Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss			(922)			(922)
Adjustments to reconcile net loss for the period to net cash used in operating activities:
Non-cash portion of interest expense - Note 9						0
Write-down of production inventories - Note 4						0
Depreciation and amortization						0
Stock-based compensation - Note 14						0
Non-cash (gain) loss on fair value adjustment for warrant liabilities - Note 11			922			922
Accretion - Note 12						0
Phantom share compensation						0
Changes in operating assets and liabilities						0
Net cash used in operating activities						0
Net cash used in investing activities						0
Cash flows from financing activities:						0
Net (decrease) increase in cash and restricted cash						0
Cash and restricted cash, beginning of period				$ 0		0
Cash and restricted cash, end of period			$ 0			$ 0

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Accounting Policies [Abstract]
Net loss	$ 8,427	$ 9,688	$ 50,712	$ 34,618	$ 18,115	$ 85,330
Fair value adjustment to warrants - Notes 11 and 18	651		(922)		10,144	(922)
Net cash used in operating activities					21,317	57,642
Cash	30,220		47,293		30,220	47,293	$ 56,363
Working capital	63,600				63,600
Liabilities	219,617		208,512		219,617	208,512	216,009
Accumulated deficit	538,874		$ 469,697		538,874	$ 469,697	$ 520,759
Debt, amount due in next 12 months	$ 9,600				$ 9,600

Recapitalization Transaction (D

Recapitalization Transaction (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)shares	Dec. 31, 2020USD ($)shares	Jun. 30, 2020USD ($)	May 29, 2020USD ($)$ / sharesshares
Business Acquisition [Line Items]
Cash | $	$ 30,220	$ 56,363	$ 47,293
Common stock, issued (in shares)	59,977,318	59,901,306
Common stock, outstanding (in shares)	59,977,318	59,901,306
Reverse recapitalization, conversion ratio	0.112
Mudrick
Business Acquisition [Line Items]
Cash | $				$ 68,900
Common stock, issued (in shares)				50,160,042
Common stock, outstanding (in shares)				50,160,042
Cash acquired | $				$ 10,400
Liabilities assumed | $				$ 6,900
Warrants, exercise price 11.50
Business Acquisition [Line Items]
Outstanding warrants (in shares)				34,289,999
Warrants, exercise price (in dollars per share) | $ / shares				$ 11.50
Warrants, exercise price 44.82
Business Acquisition [Line Items]
Outstanding warrants (in shares)				12,721,901
Warrants, exercise price (in dollars per share) | $ / shares				$ 44.82
Number of securities called by warrants (in shares)				3,210,213

Inventories, net - Schedule of

Inventories, net - Schedule of inventory (Details)	Jun. 30, 2021USD ($)oz	Dec. 31, 2020USD ($)oz
Amount
Materials and supplies | $	$ 7,211,000	$ 6,449,000
Merrill-Crowe process plant | $	1,643,000	4,810,000
Carbon-in-column | $	1,724,000	299,000
Finished good (doré and off-site carbon) | $	8,509,000	1,309,000
Stockpiles | $	0	0
Total | $	$ 19,087,000	$ 12,867,000
Gold Ounces
Materials and supplies | oz	0	0
Merrill-Crowe process plant | oz	944	2,587
Carbon-in-column | oz	1,015	166
Finished good (doré and off-site carbon) | oz	5,010	710
Stockpiles | oz	3,818	0
Total | oz	10,787	3,463

Inventories, net - Narrative (D

Inventories, net - Narrative (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)oz	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)oz	Dec. 31, 2020USD ($)
Inventory Disclosure [Abstract]
Capitalized costs	$ 600,000		$ 600,000		$ 300,000
Capitalized costs, leach pads, current	1,800,000		1,800,000		1,800,000
Capitalized costs, leach pads, noncurrent	300,000		300,000		$ 400,000
Inventory, leach pads, production costs written off	$ 0	$ 10,200,000	$ 0	$ 16,700,000
Inventory, leach pads, gold written off | oz		6,512		10,492
Inventory, leach pads, capitalized costs written off		$ 800,000		$ 1,200,000

Inventories, net - Schedule o_2

Inventories, net - Schedule of inventory, Ore on leach pads (Details) $ in Thousands	Jun. 30, 2021USD ($)oz	Dec. 31, 2020USD ($)oz
Amount
Ore on leach pads, current | $	$ 37,664	$ 38,041
Ore on leach pads, non-current | $	7,298	7,243
Total | $	$ 44,962	$ 45,284
Gold Ounces
Ore on leach pads, current | oz	21,723	21,869
Ore on leach pads, non-current | oz	4,209	4,164
Total | oz	25,932	26,033

Inventories, net - Schedule o_3

Inventories, net - Schedule of Mine site period costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Inventory Disclosure [Abstract]
Production related costs	$ 2,264	$ 11,996	$ 12,384	$ 18,631
Capitalized depreciation and amortization	170	874	594	1,431
Total	$ 2,434	$ 12,870	$ 12,978	$ 20,062

Prepaids and Other - Components

Prepaids and Other - Components of prepaids and other (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Prepaids and other
Prepaids	$ 5,129	$ 3,198
Deposits	1,107	1,105
Total	6,236	4,303
Other assets, non-current
Equipment not in use	12,238	12,238
Consignment inventory - supplies	1,860	885
Royalty - advance payment	480	360
Total	$ 14,578	$ 13,483

Prepaids and Other - Componen_2

Prepaids and Other - Components of prepaids (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid insurance	$ 3,611	$ 1,847
Mining claims and permitting fees	1,255	417
Subscription and license fees	176	259
Equipment mobilization	0	423
Other	87	252
Prepaids	$ 5,129	$ 3,198

Prepaids and Other - Narrative

Prepaids and Other - Narrative (Details)	Jun. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Royalty payment, percentage of net profit	4.00%

Plant, Equipment, and Mine De_3

Plant, Equipment, and Mine Development, Net - Components of plant, equipment, and mine development, net (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Feb. 28, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Plant, equipment and mine development, gross	$ 96,068		$ 85,256
Less, accumulated depreciation and amortization	(27,444)		(25,033)
Total	68,624		60,223
Leach pads
Property, Plant and Equipment [Line Items]
Plant, equipment and mine development, gross	17,708		17,432
Process equipment
Property, Plant and Equipment [Line Items]
Plant, equipment and mine development, gross	$ 17,555		16,065
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Useful life	10 years
Plant, equipment and mine development, gross	$ 10,507		10,507
Mine equipment
Property, Plant and Equipment [Line Items]
Plant, equipment and mine development, gross	8,242		5,961
Vehicles
Property, Plant and Equipment [Line Items]
Plant, equipment and mine development, gross	$ 1,322		991
Furniture and office equipment
Property, Plant and Equipment [Line Items]
Useful life	7 years
Plant, equipment and mine development, gross	$ 352		322
Mine development
Property, Plant and Equipment [Line Items]
Plant, equipment and mine development, gross	3,816		756
Mineral properties
Property, Plant and Equipment [Line Items]
Plant, equipment and mine development, gross	37		37
Construction in progress and other
Property, Plant and Equipment [Line Items]
Plant, equipment and mine development, gross	$ 36,529	$ 34,100	$ 33,185
Minimum | Process equipment
Property, Plant and Equipment [Line Items]
Useful life	5 years
Minimum | Mine equipment
Property, Plant and Equipment [Line Items]
Useful life	5 years
Minimum | Vehicles
Property, Plant and Equipment [Line Items]
Useful life	3 years
Maximum | Process equipment
Property, Plant and Equipment [Line Items]
Useful life	15 years
Maximum | Mine equipment
Property, Plant and Equipment [Line Items]
Useful life	7 years
Maximum | Vehicles
Property, Plant and Equipment [Line Items]
Useful life	5 years

Plant, Equipment, and Mine De_4

Plant, Equipment, and Mine Development, Net - Narrative (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended		6 Months Ended
	Feb. 28, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Capitalized interest		$ 0	$ 290	$ 654	$ 334
Plant, equipment and mine development, gross		96,068		96,068		$ 85,256
Mineral properties		40		40		40
Process equipment
Property, Plant and Equipment [Line Items]
Additions to property, plant and equipment				1,500
Plant, equipment and mine development, gross		17,555		17,555		16,065
Mine equipment
Property, Plant and Equipment [Line Items]
Additions to property, plant and equipment				2,300
Plant, equipment and mine development, gross		8,242		8,242		5,961
Construction in progress and other
Property, Plant and Equipment [Line Items]
Additions to property, plant and equipment	$ 3,200
Capitalized interest	700
Plant, equipment and mine development, gross	$ 34,100	36,529		36,529		33,185
Leach pads not in use
Property, Plant and Equipment [Line Items]
Plant, equipment and mine development, gross		$ 11,200		$ 11,200		$ 11,200

Restricted Cash (Details)

Restricted Cash (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Restricted Cash and Cash Equivalents Items [Line Items]
Reclamation and other surety bond cash collateral	$ 34,855	$ 39,677	$ 39,631
Decrease in restricted cash	4,800
Surety bond
Restricted Cash and Cash Equivalents Items [Line Items]
Guarantor obligations	$ 59,900

Other Liabilities (Details)

Other Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Other liabilities, current
Accrued compensation	$ 2,769	$ 1,560
Salary continuation payments	2,058	1,215
Restricted stock units	91	913
Deferred payroll tax liability	471	436
Accrued directors' fees	38	33
Total	5,427	4,157
Other liabilities, non-current
Salary continuation payments	827	1,145
Deferred payroll tax liability	471	505
Total	$ 1,298	$ 1,650	$ 135
Payroll tax deferred, due year one	50.00%
Payroll tax deferred, due year two	50.00%
Minimum
Other liabilities, non-current
Agreement period for postemployment benefits	12 months
Maximum
Other liabilities, non-current
Agreement period for postemployment benefits	24 months

Debt, Net - Components of debt

Debt, Net - Components of debt (Details) - USD ($) $ in Thousands	1 Months Ended
	Feb. 28, 2021	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Debt, net, current:
Less, debt issuance costs, current		$ (198)	$ (154)
Total		9,613	5,120
Debt, net, non-current:
Less, debt issuance costs, noncurrent		(3,298)	(4,026)
Total		147,856	142,665	$ 139,044
Unamortized discount		12,421
Debt, amount due in next 12 months		9,600
Subordinated Notes
Debt, net, non-current:
Debt, gross, noncurrent		89,090	84,797
Sprott Credit Agreement
Debt, net, current:
Debt, gross, current		9,711	5,274
Debt, net, non-current:
Debt, gross, noncurrent		61,782	61,894
Unamortized discount		8,200	8,200
Quarterly interest payable		2,200
Debt, amount due in next 12 months		7,500
Note payable
Debt, net, current:
Debt, gross, current		100	0
Debt, net, non-current:
Debt, gross, noncurrent		$ 282	$ 0
Stated amount of borrowing	$ 400
Stated interest rate	0.99%
Debt term	48 months

Debt, Net - Schedule of maturit

Debt, Net - Schedule of maturities of long-term debt (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
July 1, 2021 through December 31, 2021	$ 4,906
2022	17,332
2023	24,836
2024	24,837
2025	101,475
Total	173,386
Less, original issue discount, net of amortization ($4.6 million)	(12,421)
Less, debt issuance costs, net of amortization ($0.4 million)	(3,496)
Total Debt, net, current and non-current	157,469	$ 147,800
Original issue discount, accumulated amortization	4,600
Debt issuance costs, accumulated amortization	$ 400

Debt, Net - Components of recor

Debt, Net - Components of recorded interest expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Amortization of debt issuance costs	$ 350	$ 635	$ 685	$ 1,307
Other interest expense	8	8	16	8
Capitalized interest	0	(290)	(654)	(334)
Total interest expense, debt	5,298	15,072	9,747	34,959
Sprott Credit Agreement
Debt Instrument [Line Items]
Interest expense, debt	2,767	796	5,407	796
Subordinated Notes
Debt Instrument [Line Items]
Interest expense, debt	2,173	711	4,293	711
2.0 Lien Notes
Debt Instrument [Line Items]
Interest expense, debt	0	5,085	0	12,901
1.5 Lien Notes
Debt Instrument [Line Items]
Interest expense, debt	0	3,496	0	8,635
1.25 Lien Notes
Debt Instrument [Line Items]
Interest expense, debt	0	2,866	0	6,218
First Lien Agreement
Debt Instrument [Line Items]
Interest expense, debt	0	1,708	0	4,575
Promissory Note
Debt Instrument [Line Items]
Interest expense, debt	$ 0	$ 57	$ 0	$ 142

Royalty Obligation (Details)

Royalty Obligation (Details) - USD ($) $ in Thousands	May 29, 2020	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Proceeds from royalty obligation	$ 30,000		$ 0	$ 30,000
Smelter royalty obligation, percentage	1.50%
Smelter royalty obligation, right to repurchase percentage	33.30%
Smelter royalty obligation, right to repurchase percentage, net of returns	0.50%
Amortization of royalty obligation		$ 100	100
Payments for royalty obligations		600	1,000
Royalty obligation, current		$ 423	$ 423		$ 124

Warrants - Summary of outstandi

Warrants - Summary of outstanding warrants (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended	18 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Jun. 30, 2021	Jan. 19, 2021	May 29, 2020	Oct. 22, 2015
Class of Warrant or Right [Roll Forward]
Fair Value Adjustments	$ (651)	$ 922	$ (10,144)	$ 922
5-Year Private Warrants transferred to 5-Year Public Warrants	$ 284
Warrant liabilities, non-current
Class of Warrant or Right [Roll Forward]
Beginning balance (in shares)			22,510,038
Beginning balance			$ 15,389
Fair Value Adjustments			$ (10,144)
Transfers to an Unrelated Third Party (in shares)			(394,863)
Transfers to an Unrelated Third Party			$ (284)
Ending balance (in shares)	22,115,175		22,115,175		22,510,038	22,115,175
Ending balance	$ 4,961		$ 4,961		$ 15,389	$ 4,961
Outstanding warrants (in shares)	22,115,175		22,115,175		22,510,038	22,115,175
5-Year Private Warrants
Class of Warrant or Right [Roll Forward]
Beginning balance (in shares)			9,888,415
Beginning balance			$ 15,326
Fair Value Adjustments			$ (10,106)
Transfers to an Unrelated Third Party (in shares)	(394,863)		(394,863)		(351,585)	(746,448)
Transfers to an Unrelated Third Party			$ (284)
Ending balance (in shares)	9,493,552		9,493,552		9,888,415	9,493,552
Ending balance	$ 4,936		$ 4,936		$ 15,326	$ 4,936
Warrants, exercise price (in dollars per share)	$ 11.50		$ 11.50			$ 11.50
Warrant term	5 years		5 years			5 years
Outstanding warrants (in shares)	9,493,552		9,493,552		9,888,415	9,493,552
Seller Warrants
Class of Warrant or Right [Roll Forward]
Beginning balance (in shares)			12,721,901
Beginning balance			$ 63
Fair Value Adjustments			$ (38)
Transfers to an Unrelated Third Party (in shares)			0
Transfers to an Unrelated Third Party			$ 0
Ending balance (in shares)	12,721,901		12,721,901		12,721,901	12,721,901
Ending balance	$ 25		$ 25		$ 63	$ 25
Warrants, exercise price (in dollars per share)	$ 40.31		$ 40.31			$ 40.31	$ 40.31
Warrant term	7 years		7 years			7 years
Outstanding warrants (in shares)	12,721,901		12,721,901		12,721,901	12,721,901		12,700,000	12,721,901
Equity classified warrants
Class of Warrant or Right [Roll Forward]
Beginning balance (in shares)			33,984,817
Beginning balance			$ 41,557
Transfers to an Unrelated Third Party (in shares)			394,863
5-Year Private Warrants transferred to 5-Year Public Warrants			$ 284
Ending balance (in shares)	34,379,680		34,379,680		33,984,817	34,379,680
Ending balance	$ 41,841		$ 41,841		$ 41,557	$ 41,841
Outstanding warrants (in shares)	34,379,680		34,379,680		33,984,817	34,379,680
5-Year Public Warrants
Class of Warrant or Right [Roll Forward]
Beginning balance (in shares)			24,401,483
Beginning balance			$ 28,619
Transfers to an Unrelated Third Party (in shares)			394,863
5-Year Private Warrants transferred to 5-Year Public Warrants			$ 284
Ending balance (in shares)	24,796,346		24,796,346		24,401,483	24,796,346
Ending balance	$ 28,903		$ 28,903		$ 28,619	$ 28,903
Warrants, exercise price (in dollars per share)	$ 11.50		$ 11.50			$ 11.50
Warrant term	5 years		5 years			5 years
Outstanding warrants (in shares)	24,796,346		24,796,346		24,401,483	24,796,346
Public Offering Warrants
Class of Warrant or Right [Roll Forward]
Beginning balance (in shares)			9,583,334
Beginning balance			$ 12,938
Transfers to an Unrelated Third Party (in shares)			0
5-Year Private Warrants transferred to 5-Year Public Warrants			$ 0
Ending balance (in shares)	9,583,334		9,583,334		9,583,334	9,583,334
Ending balance	$ 12,938		$ 12,938		$ 12,938	$ 12,938
Warrants, exercise price (in dollars per share)	$ 10.50		$ 10.50			$ 10.50
Warrant term	5 years		5 years			5 years
Outstanding warrants (in shares)	9,583,334		9,583,334		9,583,334	9,583,334

Warrants - Narrative (Details)

Warrants - Narrative (Details)	Oct. 06, 2020tradingDay$ / sharesshares	May 29, 2020tradingDay$ / sharesshares	May 28, 2020shares	Jun. 30, 2021$ / sharesshares	Jun. 30, 2021$ / sharesshares	Dec. 31, 2020shares	Jun. 30, 2021$ / sharesshares	Jan. 19, 2021$ / sharesshares	Oct. 22, 2015shares
5-Year Private Warrants
Class of Warrant or Right [Line Items]
Warrants issued (in shares)		2,500,000	7,740,000
Number of securities called by warrants (in shares)			7,740,000
Transfers to an Unrelated Third Party (in shares)				394,863	394,863	351,585	746,448
Warrants, exercise price (in dollars per share) | $ / shares				$ 11.50	$ 11.50		$ 11.50
Outstanding warrants (in shares)				9,493,552	9,493,552	9,888,415	9,493,552
Seller Warrants
Class of Warrant or Right [Line Items]
Number of securities called by warrants (in shares)								3,569,129
Transfers to an Unrelated Third Party (in shares)					0
Warrants, exercise price (in dollars per share) | $ / shares				$ 40.31	$ 40.31		$ 40.31	$ 40.31
Number of securities called by each warrant (in shares)								0.28055
Outstanding warrants (in shares)		12,700,000		12,721,901	12,721,901	12,721,901	12,721,901		12,721,901
5-Year Public Warrants
Class of Warrant or Right [Line Items]
Warrants issued (in shares)		3,249,999
Transfers to an Unrelated Third Party (in shares)					(394,863)
Warrants, exercise price (in dollars per share) | $ / shares				$ 11.50	$ 11.50		$ 11.50
Outstanding warrants (in shares)				24,796,346	24,796,346	24,401,483	24,796,346
Units issued (in shares)			20,800,000
Number of shares called by each unit			1
Number of warrants called by each unit (in shares)			1
Share price threshold to call warrants (in dollars per share) | $ / shares		$ 18
Warrants, threshold trading days | tradingDay		20
Warrants, trading day period | tradingDay		30
Public Offering Warrants
Class of Warrant or Right [Line Items]
Transfers to an Unrelated Third Party (in shares)					0
Warrants, exercise price (in dollars per share) | $ / shares				$ 10.50	$ 10.50		$ 10.50
Number of securities called by each warrant (in shares)	1
Outstanding warrants (in shares)				9,583,334	9,583,334	9,583,334	9,583,334
Units issued (in shares)	9,583,334
Number of shares called by each unit	1
Number of warrants called by each unit (in shares)	1
Share price threshold to call warrants (in dollars per share) | $ / shares	$ 17
Warrants, threshold trading days | tradingDay	20
Warrants, trading day period | tradingDay	30
Units issued, related party (in shares)	5,000,000

Asset Retirement Obligation (_2

Asset Retirement Obligation ("ARO") (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Balance, beginning of period	$ 4,785	$ 4,374
Accretion expense	204	374
Changes in estimates	0	37
Balance, end of period	$ 4,989	$ 4,785

Revenues - Disaggregation of re

Revenues - Disaggregation of revenue (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)oz	Jun. 30, 2020USD ($)oz	Jun. 30, 2021USD ($)oz	Jun. 30, 2020USD ($)oz
Disaggregation of Revenue [Line Items]
Revenues	$ 36,001	$ 7,636	$ 55,037	$ 18,760
Gold sales
Disaggregation of Revenue [Line Items]
Revenues	$ 30,900	$ 7,284	$ 48,441	$ 17,612
Ounces Sold | oz	17,060	4,237	26,890	10,797
Silver sales
Disaggregation of Revenue [Line Items]
Revenues	$ 5,101	$ 352	$ 6,596	$ 1,148
Ounces Sold | oz	189,766	21,331	247,002	70,703

Revenues - Narrative (Details)

Revenues - Narrative (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
One customer | Customer concentration risk | Revenue
Disaggregation of Revenue [Line Items]
Concentration risk	87.30%	93.00%	90.50%	95.10%

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability based restricted stock units transferred to equity	$ 0.4	$ 1.8
Performance and Incentive Pay Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant	897,161
Performance and Incentive Pay Plan | Restricted stock units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	2 years
Performance and Incentive Pay Plan | Restricted stock units | Minimum | Nonemployee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	2 years
Performance and Incentive Pay Plan | Restricted stock units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Performance and Incentive Pay Plan | Restricted stock units | Maximum | Nonemployee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Performance and Incentive Pay Plan | Performance shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	2 years
Performance and Incentive Pay Plan | Performance shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of restricted stock unit activity (Details) - Restricted stock units - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Performance and Incentive Pay
Non-vested at beginning of year	$ 2,912	$ 2,509
Granted	5,709	0
Canceled/forfeited	(629)	(1,369)
Stock-based compensation expense	(1,586)	(642)
Non-vested at end of period	$ 6,406	$ 498

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income tax expense	$ 0	$ 0	$ 0	$ 0
Effective income tax rate	0.00%	0.00%	0.00%	0.00%

Loss Per Share - Schedule of ba

Loss Per Share - Schedule of basic and diluted loss per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net loss	$ (8,427)	$ (9,688)	$ (50,712)	$ (34,618)	$ (18,115)	$ (85,330)
Weighted average shares outstanding
Basic (in shares)	59,927,523		18,395,983		59,914,487	9,359,655
Diluted (in shares)	59,927,523		18,395,983		59,914,487	9,359,655
Basic loss per common share (in dollars per share)	$ (0.14)		$ (2.76)		$ (0.30)	$ (9.12)
Diluted loss per common share (in dollars per share)	$ (0.14)		$ (2.76)		$ (0.30)	$ (9.12)

Loss Per Share - Schedule of an

Loss Per Share - Schedule of antidilutive securities excluded from computation (Details) - shares shares in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation (in shares)	57,685	37,649
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation (in shares)	56,495	37,500
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation (in shares)	1,190	149

Segment Information (Details)

Segment Information (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Revenues	$ 36,001,000		$ 7,636,000		$ 55,037,000	$ 18,760,000
Cost of sales	33,501,000		31,863,000		62,903,000	55,731,000
Other operating costs	6,289,000		10,526,000		10,678,000	12,625,000
Loss from operations	(3,789,000)		(34,753,000)		(18,544,000)	(49,596,000)
Interest expense - Note 9	(5,298,000)		(15,072,000)		(9,747,000)	(34,959,000)
Fair value adjustment to warrants - Notes 11 and 18	651,000		(922,000)		10,144,000	(922,000)
Interest income	9,000		35,000		32,000	147,000
Loss before income taxes	(8,427,000)		(50,712,000)		(18,115,000)	(85,330,000)
Income taxes - Note 15	0		0		0	0
Net loss	(8,427,000)	$ (9,688,000)	(50,712,000)	$ (34,618,000)	(18,115,000)	(85,330,000)
Hycroft Mine
Segment Reporting Information [Line Items]
Revenues	36,001,000		7,636,000		55,037,000	18,760,000
Cost of sales	33,501,000		31,863,000		62,903,000	55,731,000
Other operating costs	1,125,000		94,000		1,720,000	187,000
Loss from operations	1,375,000		(24,321,000)		(9,586,000)	(37,158,000)
Interest expense - Note 9	0		(56,000)		0	(141,000)
Fair value adjustment to warrants - Notes 11 and 18	0		0		0	0
Interest income	9,000		35,000		32,000	147,000
Loss before income taxes	1,384,000		(24,342,000)		(9,554,000)	(37,152,000)
Income taxes - Note 15	0		0		0	0
Net loss	1,384,000		(24,342,000)		(9,554,000)	(37,152,000)
Corporate and Other
Segment Reporting Information [Line Items]
Revenues	0		0		0	0
Cost of sales	0		0		0	0
Other operating costs	5,164,000		10,432,000		8,958,000	12,438,000
Loss from operations	(5,164,000)		(10,432,000)		(8,958,000)	(12,438,000)
Interest expense - Note 9	(5,298,000)		(15,016,000)		(9,747,000)	(34,818,000)
Fair value adjustment to warrants - Notes 11 and 18	651,000		(922,000)		10,144,000	(922,000)
Interest income	0		0		0	0
Loss before income taxes	(9,811,000)		(26,370,000)		(8,561,000)	(48,178,000)
Income taxes - Note 15	0		0		0	0
Net loss	$ (9,811,000)		$ (26,370,000)		$ (8,561,000)	$ (48,178,000)

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of fair value on recurring basis (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Liabilities:
Warrant liabilities, non-current	$ 4,961	$ 15,389
Recurring
Liabilities:
Total	4,961,000	15,389
Recurring | Level 2 | 5-Year Private Warrants
Liabilities:
Warrant liabilities, non-current	4,936,000	15,327
Recurring | Level 2 | Seller Warrants
Liabilities:
Warrant liabilities, non-current	$ 25,000	$ 62

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	May 29, 2020	Oct. 22, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, fair value	$ 165,600	$ 154,900
Debt, carrying value	$ 157,469	147,800
Royalty obligation, metal price discount rate	5.00%
Royalty obligation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Royalty obligation, fair value	$ 106,600	148,400
Royalty obligation, carrying value	$ 29,800	$ 30,000
Seller Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding warrants (in shares)	12,721,901	12,721,901	12,700,000	12,721,901

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Cash interest paid	$ 532	$ 5,366
Significant non-cash financing and investing activities:
Increase in debt from in-kind interest	6,914
Plant, equipment, and mine development acquired by note payable	407	0
Plant, equipment, and mine development additions included in accounts payable	329	3,038
Liability based restricted stock units transferred to equity	284	0
Allocate and write-off Seller's debt issuance costs	0	8,202
1.5 Lien Notes to common stock
Significant non-cash financing and investing activities:
Exchange of Seller lien notes	0	208,713
1.25 Lien Notes for Subordinated Notes
Significant non-cash financing and investing activities:
Exchange of Seller lien notes	$ 0	$ 80,000

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands, T in Millions	6 Months Ended
	Jun. 30, 2021USD ($)operating_leaseT	Mar. 31, 2021USD ($)
Unrecorded Unconditional Purchase Obligation [Line Items]
Royalty payment, percentage of net profit	4.00%
Royalty payment, annual advance	$ 120
Royalty payment, additional incremental payment	$ 120
Royalty payment, annual tons mined threshold | T	5
Royalty payment, maximum lease payments	$ 7,600
Payments to acquire royalty interests in mining properties	2,800
Other assets, noncurrent
Unrecorded Unconditional Purchase Obligation [Line Items]
Payments to acquire royalty interests in mining properties	500
Inventories | Prepaids and other
Unrecorded Unconditional Purchase Obligation [Line Items]
Unrecorded unconditional purchase obligation, purchases	1,900
Inventories | Inventories
Unrecorded Unconditional Purchase Obligation [Line Items]
Unrecorded unconditional purchase obligation, purchases	$ 500
Mobile mining equipment
Unrecorded Unconditional Purchase Obligation [Line Items]
Operating lease, number of leases | operating_lease	2
Operating lease, remaining lease payments	$ 900
Large wheel loader lease
Unrecorded Unconditional Purchase Obligation [Line Items]
Operating lease, remaining lease payments	8,500
Operating lease, monthly payment		$ 100
Operating lease, term		4 years
Large wheel loader lease | Maintenance
Unrecorded Unconditional Purchase Obligation [Line Items]
Operating lease, remaining lease payments	3,700
Office space and corporate housing
Unrecorded Unconditional Purchase Obligation [Line Items]
Operating lease, annual rent expense	$ 100

Related Party Transactions (Det

Related Party Transactions (Details)	Oct. 06, 2020shares	Jun. 30, 2021USD ($)financial_Institution	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)financial_Institutionshares	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Related Party Transaction [Line Items]
Number of financial institutions, debt issued | financial_Institution		5		5
Number of financial institutions, considered related party | financial_Institution				3
Minimum percentage of common stock held by related party, right to nominate one director		10.00%		10.00%
Interest expense, related party		$ 1,800,000	$ 12,700,000	$ 3,600,000	$ 27,800,000
Due to related parties		74,800,000		74,800,000		$ 71,200,000
Directors
Related Party Transaction [Line Items]
Due to affiliate		200,000		$ 200,000
Related party transaction, amount		30,000
Directors | Restricted stock units
Related Party Transaction [Line Items]
Vested (in shares) | shares				5,047
Affiliated entity | Warrants | Highbridge
Related Party Transaction [Line Items]
Units issued (in shares) | shares	833,333
Affiliated entity | Warrants | Mudrick
Related Party Transaction [Line Items]
Units issued (in shares) | shares	3,222,222
Subordinated Notes
Related Party Transaction [Line Items]
Stated amount of borrowing		$ 80,000,000		$ 80,000,000