Hycroft Mining Corporation Announces Leadership Transition in Board Chair Role

Hycroft Mining's Board Chair Transition

Hycroft Mining Holding Corporation, a prominent entity in the gold and silver mining sector, has recently disclosed a significant change within its Board of Directors leadership. Effective January 15, 2025, Mr. Stephen A. Lang will resign from his role as Chair due to health-related concerns, though he will continue to serve the company as an Independent Director. In his stead, Thomas Weng, the current independent Lead Director and the Chair of the Corporate Governance and Nominating Committee, will take over as Chair of the Board.

The announcement highlights the company's appreciation of Mr. Lang's commitment and able leadership during his tenure. Mr. Weng, who has been with Hycroft as a director since May 2020, brings a wealth of experience in financial services, particularly in the mining industry, making him well-suited for this critical role.

Leadership Background

Stephen A. Lang

Stephen Lang has played a pivotal role in guiding Hycroft Mining through its strategic objectives. His departure from the Chair position is noted as a transition, rather than an end of involvement, allowing his insights to remain pivotal even as he steps back from leading the Board.

Thomas Weng

Joining the board in 2020, Mr. Weng has established himself as a competent leader with over 25 years of experience in the financial sector. He co-founded Alta Capital Partners in 2011, providing financial advisory services. Prior to that, he had notable roles at Deutsche Bank and various senior positions at other major financial institutions.

His in-depth knowledge of Hycroft and its operational context is expected to facilitate a smooth transition and maintain the company's momentum. Mr. Weng's appointment is seen as a strategic move to leverage his expertise as the company progresses towards ambitious goals.

About Hycroft Mining Holding Corporation

Hycroft Mining is recognized for developing the Hycroft Mine, one of the largest precious metals deposits situated in northern Nevada, a Tier-One mining jurisdiction. The company has evolved from a historical focus on oxide heap leaching operations to pursuing advanced technical studies aimed at transitioning the mine into the next operational phase that will include the processing of sulfide ore.

Moreover, Hycroft is engaged in extensive exploration initiatives to maximize the silver-rich resources within the site, which will unlock its full potential as a leading asset in the mining industry.

This strategic shift in leadership coincides with a critical period in the mining sector as companies adapt to changing market dynamics and pursue sustainable practices for future growth. Hycroft is poised to leverage this transition as it continues to explore and exploit its world-class resources effectively.

In conclusion, the leadership change at Hycroft Mining represents a thoughtful approach to management continuity and the strategic operations of the company as it seeks to enhance its position within the mining sector. Stakeholders are anticipated to support this transition as Mr. Weng steps into the helm of the Board.