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SCHEDULE 13D/A 0001491714 XXXXXXXX LIVE 10 Class A common stock, par value $0.0001 per share 12/24/2025 false 0001718405 44862P109 HYCROFT MINING HOLDING CORP 4300 Water Canyon Road Unit 1 Winnemucca NV 89445 Mark Mandel (212) 626-4100 Baker & McKenzie LLP 452 Fifth Avenue New York NY 10018 0001491714 N Sprott Eric a AF N Z4 0.00 37468704.00 0.00 37468704.00 37468704.00 N 42.92 IN 1 Includes (a) 26,725,528 shares of Class A common stock, par value $0.0001 per share ("Common Stock"), of Hycroft Mining Holding Corporation (the "Issuer") held of record by 2176423 Ontario Ltd. ("2176423 Ontario"), (b) 4,672,352 shares of Common Stock issuable upon the exercise of warrants to purchase shares of Common Stock held of record by 2176423 Ontario, (c) 4,730,824 shares of Common Stock held of record by Sprott Mining Inc. ("Sprott Mining"), a wholly-owned subsidiary of 2176423 Ontario, and (d) 1,340,000 shares of Common Stock issuable upon the exercise of warrants to purchase shares of Common Stock held of record by Sprott Mining. 2176423 Ontario also holds warrants to acquire an additional 5,515,824 shares of Common Stock, but the terms and conditions of such warrants preclude 2176423 Ontario from exercising the warrants to the extent that such exercise would cause 2176423 Ontario (together with its affiliates) to exceed certain beneficial ownership limitations. Warrants exercisable for 3,175,000 shares of Common Stock are subject to a beneficial ownership limitation of 19.99%, while warrants exercisable for 2,340,824 shares of Common Stock are subject to a beneficial ownership limitation of 9.8%. The warrants exercisable for 4,672,352 shares of Common Stock mentioned in (b) above are not subject to a beneficial ownership limitation. Eric Sprott controls 2176423 Ontario and has the power to direct the voting and disposition of Common Stock held by the entity through his ownership interests in 2176423 Ontario. 2 The percentage set forth in Row 13 of this Cover Page is calculated based on 87,295,952 shares of Common Stock deemed outstanding, which consists of (i) 81,283,600 shares of Common Stock outstanding as of December 12, 2025, as disclosed by the Issuer on its proxy statement filed on December 19, 2025 and (ii) 6,012,352 shares of Common Stock issuable upon the exercise of warrants beneficially owned by the Reporting Persons that are not subject to a beneficial ownership limitation. 0001925668 N 2176423 Ontario Ltd. a WC N A6 0.00 37468704.00 0.00 37468704.00 37468704.00 N 42.92 CO 3 The percentage set forth in Row 13 of this Cover Page is calculated based on 87,295,952 shares of Common Stock deemed outstanding, which consists of (i) 81,283,600 shares of Common Stock outstanding as of December 12, 2025, as disclosed by the Issuer on its proxy statement filed on December 19, 2025, and (ii) 6,012,352 shares of Common Stock issuable upon the exercise of warrants beneficially owned by the Reporting Persons that are not subject to a beneficial ownership limitation. Y Sprott Mining Inc. a WC N A6 0.00 6070824.00 0.00 6070824.00 6070824.00 N 7.35 CO 4. The percentage set forth in Row 13 of this Cover Page is calculated based on 82,623,600 shares of Common Stock deemed outstanding, which consists of (i) 81,283,600 shares of Common Stock outstanding as of December 12, 2025, as disclosed by the Issuer on its proxy statement filed on December 19, 2025, and (ii) 1,340,000 shares of Common Stock issuable upon the exercise of warrants beneficially owned by the Reporting Persons that are not subject to a beneficial ownership limitation. Class A common stock, par value $0.0001 per share HYCROFT MINING HOLDING CORP 4300 Water Canyon Road Unit 1 Winnemucca NV 89445 This Amendment No. 10 (this "Amendment") is being filed to update the percentage of shares beneficially owned by the Reporting Persons and add Sprott Mining as a Reporting Person, and hereby amends and supplements the Statement filed with the SEC on March 24, 2022, as further amended on March 28, 2022, April 14, 2022, June 28, 2022, June 17, 2025, September 10, 2025, October 16, 2025, November 12, 2025, December 5, 2025 and December 18, 2025. Capitalized terms used but not defined herein shall have the respective meanings set forth in the Statement. Except as amended or supplemented hereby, the information set forth in the Statement remains unchanged. This Statement is being filed by and on behalf of Eric Sprott ("Mr. Sprott"), 2176423 Ontario Ltd., Sprott Mining, Inc. ("SMI"), and together with 2176423 Ontario and Mr. Sprott, the "Reporting Persons". The business address of the Reporting Persons is 7 King Street East, Suite 1106, Toronto, Ontario M5C 3C5. Mr. Sprott's principal occupation is as an investor through a holding company which he beneficially owns, 2176423 Ontario, which in turn beneficially owns SMI. During the last five years, the Reporting Persons have not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) During the last five years, the Reporting Persons have not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. Mr. Sprott is a Canadian citizen and each of 2176423 Ontario and Sprott Mining exist under the Business Corporations Act (Ontario). On December 19, 24, 26, and 29, 2025, Sprott Mining, a wholly owned subsidiary of 2176423 Ontario, completed open market purchases of 850,000 shares of Common Stock of the Issuer, whereby Sprott Mining purchased on December 19, 150,000 shares of Common Stock at an average purchase price of $16.31, purchased on December 24, 100,000 shares of Common Stock at an average purchase price of $24.79, purchased on December 26, 200,000 shares of Common Stock at an average purchase price of $24.93, and purchased on December 29, 400,000 shares of Common Stock at an average purchase price of $22.70, for combined gross proceeds of approximately $18,993,435. The source of funds for acquiring the Common Stock and warrants to purchase shares of Common Stock described herein was the working capital of Sprott Mining. The information provided on the cover pages to this Statement are hereby incorporated by reference. As of the close of business on December 29, 2025, the Reporting Persons acquired or have been granted, and for the purposes of Rule 13d-3 of the Exchange Act, beneficially own, an aggregate of 37,468,704 shares of Common Stock, which represents 42.92% of the 87,295,952 shares of Common Stock deemed outstanding, which consists of (i) the 81,283,600 shares of Common Stock outstanding as of December 12, 2025, as disclosed on the by the Issuer on its proxy statement filed on December 19, 2025, and (ii) 6,012,352 shares of Common Stock issuable upon the exercise of warrants beneficially owned by the Reporting Persons. 2176423 Ontario also holds warrants to acquire an additional 5,515,824 shares of Common Stock, but the terms and conditions of such warrants preclude 2176423 Ontario from exercising the warrants to the extent that such exercise would cause 2176423 Ontario (together with its affiliates) to exceed certain beneficial ownership limitations. Warrants exercisable for 3,175,000 shares of Common Stock are subject to a beneficial ownership limitation of 19.99%, while warrants exercisable for 2,340,824 shares of Common Stock are subject to a beneficial ownership limitation of 9.8%. The responses in rows 7, 8, 9 and 10 of the cover pages to this Statement are hereby incorporated by reference. Except for the transactions described in Item 3 of this Amendment, the transactions described in Item 3 of Amendments 6, 7, 8 and 9 filed with the SEC on November 12 and December 5 and 18, 2025 respectively, and an open market purchase of 400,000 shares of Common Stock by Sprott Mining on November 17, 2025 for an average purchase price per share of $10.37, the Reporting Persons have not engaged in any transaction during the past 60 days involving the Common Stock of the Issuer. Exhibit 1 - Joint Filing Agreement by and among the Reporting Persons. Sprott Eric /s/ Eric Sprott Eric Sprott 12/30/2025 2176423 Ontario Ltd. /s/ Eric Sprott Eric Sprott/President 12/30/2025 Sprott Mining Inc. /s/ Eric Sprott Eric Sprott/President 12/30/2025