Hycroft Mining (HYMC) said Tuesday that independent engineering firms require additional time beyond the Q1 target to complete the preliminary economic assessment technical report.

The timeline extension will allow the firms to incorporate a recent 55% increase in measured and indicated mineral resources into the mine plan and redesign tailing storage infrastructure, the company said.

The mining operator, which is developing Hycroft Mine in northern Nevada, said it had $194.1 million in cash and cash equivalents as of Feb. 28 and plans to accelerate exploration drilling in 2026 to expand the two high-grade silver systems.

Shares of the company were down by 6.3% in recent Tuesday premarket activity.