Why the Heck Is AMC Entertainment Buying a Gold and Silver Mine?
Nothing says you're serious about turning around your movie theater business than investing in a defunct gold and silver miner, or so AMC Entertainment (NYSE: AMC) would have you believe.
The theater owner shocked everyone by announcing it had invested $27.9 million in Hycroft Mining (NASDAQ: HYMC) in exchange for a 22% stake in the company. At the same time, metals investor Eric Sprott invested a similar amount into Hycroft.
CEO Adam Aron said AMC's own near-death experience has made it willing and able to help other businesses also knocking at death's door.
Source Fool.com
