Last year was a weird one, and we’re not even referring to an ongoing pandemic, the failed domestic insurrection attempt, and whatever this was — we’re talking more specifically about that time meme jokes managed to bailout a global movie theater chain from imminent bankruptcy. Now that society is reopening many of its doors, AMC Theatres appears to have survived to upsell popcorn buckets to filmgoers another day, and they clearly learned nothing from all this.
The Hollywood Reporter revealed yesterday that AMC has bought a 22-percent stake in Hycroft Mining Holding Corp., a company in northern Nevada sitting on 15 million ounces of gold and 600 million ounces of silver deposits. The roughly $29.7 million endeavor is a “strategic investment” according to AMC Theatres CEO Adam Aron, who justified the decision as “the result of our having identified a company in an unrelated industry that appears to be just like AMC of a year ago. It, too, has rock-solid assets, but for a variety of reasons, it has been facing a severe and immediate liquidity issue.” Uh huh.
