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    Home»News»AMC Just Brought a Freaking Gold Mine in Nevada
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    AMC Just Brought a Freaking Gold Mine in Nevada

    Mary Anne ButlerBy Mary Anne ButlerMarch 16, 20222 Mins Read
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    We’d like to remind you that AMC Entertainment was THIS CLOSE to filing for bankruptcy last year. Seriously, it was a very near thing for the company. But now…they’ve bought themselves a parcel of land in Nevada, with literal gold and silver in them thar hills.

    AMC Entertainment has purchased a 22% stake in The Hycroft Mining Holding Corp., who owns the Hycroft Mine in Nevada, for $27.9 million.

    AMC is playing on offense again with a bold diversification move. We just purchased 22% of Hycroft Mining (NASDAQ: HYMC) of northern Nevada. It has 15 million ounces of gold resources! And 600 million ounces of silver resources! Our expertise to help them bolster their liquidity. pic.twitter.com/LihqZguwnd

    — Adam Aron (@CEOAdam) March 15, 2022

    “To state the obvious, one would not normally think that a movie theater company’s core competency includes gold or silver mining,” AMC Chairman and CEO Adam Aron said of the purchase.

    “Our strategic investment being announced today is the result of our having identified a company in an unrelated industry that appears to be just like AMC of a year ago,” he continued. “It, too, has rock-solid assets, but for a variety of reasons, it has been facing a severe and immediate liquidity issue. Its share price has been knocked low as a result. We are confident that our involvement can greatly help it to surmount its challenges — to its benefit, and to ours.”

    This just seems like a really strange flex for a company who’s shares are down 50%. And also started charging more for select movie tickets, like “The Batman.” But hell, maybe they’ll use the mine to film future projects, who knows.

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    Mary Anne Butler
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    Mary Anne Butler (Mab) has been part of the fast-paced world of journalism since she was 15, getting her start in album reviews and live concert coverage for a nationally published (print) music magazine. She eventually transitioned to online media, writing for such sites as UGO/IGN, ComicsOnline, Geek Magazine, Ace of Geeks, Aggressive Comix (where she is still Editor-in-Chief), Bleeding Cool (where she was News Editor), and now Nerdbot as Editor-In-Chief. Over the past 10 years, she’s built a reputation at conventions across the globe as a cosplayer (occasionally), photographer (constantly), panelist and moderator (mostly), and reporter (always). Interviews, reviews, observations, breaking news, and objective reporting are the name of the game for the founder of Harkonnen Knife Fight, a Dune-themed band with an international presence. Though she be but little, she is fierce.

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