Will HYMC's operating expenses continue rising in 2025?

**Hycroft Mining Holding Corp (HYMC) is likely to experience increased operating expenses in 2025**, considering the following factors:

1. **Exploration and Drilling Costs**: Hycroft Mining has announced significant exploration results from its 2024 program, including high-grade discoveries at Brimstone and the Vortex area. These discoveries suggest a potential for increased drilling and exploration activities in 2025 to further define and develop these targets, which would naturally lead to higher expenses.
2. **Infrastructure Development**: The company's transition from traditional heap leach operations to advanced sulfide milling processes requires significant capital investment and operational adjustments. Ongoing infrastructure development and optimization are likely to contribute to rising operating expenses.
3. **Resource Estimation and Study Costs**: Hycroft Mining has been actively involved in revising resource estimates and conducting technical studies. These activities are crucial for advancing project developments but can be costly, potentially impacting operating expenses.
4. **Environmental and Safety Initiatives**: The company has emphasized operational efficiency improvements, safety initiatives, and environmental stewardship efforts. While these initiatives are positive for long-term sustainability, they may initially drive up expenses.

In conclusion, the combination of exploration and drilling costs, infrastructure development, resource estimation, and environmental initiatives suggest that Hycroft Mining's operating expenses are poised to rise in 2025. However, the company's ability to manage these costs effectively and capitalize on its resource discoveries will be key factors in determining the extent of any increase.