AMC Stock Jumps 7% Following CEO's Reveal of a Surprising Gold- and Silver-Mining AcquisitionThe mine is one of North America's largest development sites.

AMCEntertainment Holdings Inc., established in 1920 and currently the largest movie-theater chain in the world, has experienced some wild ups and downs over the course of the pandemic. Now a prominent "meme stock" andretail-investordarling thataccepts Dogecoin and other cryptocurrencies, the company is writing yet another surprising chapter,announcinga significant investment in a gold- and silver-mining corporation.

The Kansas-headquartered theater giant has bought 22% of Hycroft Mining Holding Corporation and its 71,000 acre Nevada mine for $27.9 million. Canadian billionaire Eric Sprott invested an equal amount in the mining firm. PerAMC's statement, the mine boasts "some 15 million ounces of gold deposits and some 600 million ounces of silver deposits," and it is one of North America's largest development sites.

Related:AMC CEO Says Dogecoin Could Be Accepted at Theaters

Naturally, some may wonder whatAMC's most recent acquisition has to do with its primary business — operating movie theaters.CEO Adam Aron解决潜在的问题在公司的统计ement, saying, "AMC Entertainment has had enormous success and demonstrated expertise in guiding a company with otherwise valuable assets through a time of severe liquidity challenge, the raising of capital and strengthening of balance sheets, as well as communicating with individual retail investors. It is all that experience and skill that we bring to the table to assist the talented mining professionals at Hycroft."

After the announcement of the Hycroft investment, AMC's stock jumped almost 7% in trading, and Aron canceled a scheduled appearance on CNBC due to legal concerns amid increased trading volume. Aron apologized for the cancellation via Twitter post.

I want to apologize to@jimcramerand@davidfaber, two extraordinary journalists, for canceling my CNBC interview with them today at the last minute. I am excited about our investment in HYMC, but there has been so much volume in that stock today, lawyers insisted I stay off air.

— Adam Aron (@CEOAdam)March 15, 2022

AMC stock was up nearly 6% as of 10:15 a.m. EST.

Related:AMC Continues to Ride Social Media Hype as Share Prices Skyrocket to 50% Increase