Welcome to our dedicated page for i-80 Gold news (Ticker: IAUX), a resource for investors and traders seeking the latest updates and insights on i-80 Gold stock.
i-80 Gold Corp. (NYSE: IAUX, TSX: IAU) is a well-financed gold and silver producer focused on the exploration, development, and production of precious metals in Nevada. Established as a spin-out from Premier Gold Mines Limited following its acquisition by Equinox Gold in 2021, the company’s strategic goal is to evolve into a self-sustaining mid-tier mining entity. i-80 Gold Corp’s core assets include the Ruby Hill Mine, Lone Tree Mine, Granite Creek Mine, and the McCoy-Cove Project.
The company boasts a robust portfolio of advanced-stage projects, each showing significant exploration potential. The McCoy-Cove Property, strategically located in the prolific Battle Mountain Trend, is one of the company's key assets. Recent drilling results from the Helen Zone have confirmed high-grade gold mineralization, enhancing the project’s development prospects. The focus is on defining the resource and advancing the project towards full mine permitting.
i-80 Gold Corp’s Ruby Hill Property, located in Eureka County, is another cornerstone of their portfolio. Recent drilling has revealed high-grade polymetallic deposits, which are being incorporated into an initial resource estimate. The property is poised for significant expansion and development, with ongoing exploration targeting multiple high-potential zones.
The Granite Creek Mine in Humboldt County features high-grade gold mineralization. The site is undergoing extensive drilling programs aimed at resource expansion and enhanced mine planning. The South Pacific Zone, in particular, is expected to become a primary mining horizon due to its substantial gold grades.
Financially, i-80 Gold Corp maintains a strong position, bolstered by successful financing initiatives, such as the recent C$115 million public offering. This financial flexibility allows the company to aggressively pursue its development and exploration objectives. Additionally, strategic partnerships and ore sale agreements contribute to a steady revenue stream, supporting the company’s operational goals.
Overall, i-80 Gold Corp is focused on unlocking the full potential of its Nevada-based assets, advancing towards its vision of becoming a leading mid-tier gold producer. The company is committed to employing a methodical and capital-disciplined approach, minimizing risks while exploring accretive growth opportunities.
i-80 Gold Corp (NYSE: IAUX) reported Q3 2024 operating results and announced a new development plan. The company aims to become a Nevada-focused mid-tier gold producer by the early 2030s, targeting 400,000-500,000 ounces annually through the development of five gold mines. Q3 financial highlights include: revenue of $11.5 million, gold sales of 3,063 ounces at $2,422 per ounce, and a loss of $0.10 per share. The company ended Q3 with $21.8 million in cash. Management is implementing a two-phase recapitalization plan to restructure debt and secure additional financing, with completion targeted for Q1 2025.
i-80 Gold Corp (TSX: IAU, NYSE: IAUX) has appointed Richard Young as its new Chief Executive Officer and director, effective immediately. Young succeeds Ewan Downie, who is retiring as CEO and stepping down as a director but will continue as an advisor to the company. Young brings extensive financial, development, and operational experience to i-80, including previous roles at Barrick Gold's Goldstrike Mine in Nevada and as founder and CEO of Teranga Gold
Young's appointment marks a shift in focus from exploration to mine development for i-80 Gold. The company owns the largest gold and silver resource base in the United States not owned by a senior gold company. Young aims to assess the portfolio with a vision of developing both sulfide and oxide deposits, potentially creating a United States mid-tier gold producer in the coming years.
i-80 Gold Corp (TSX: IAU) (NYSE: IAUX) has established an at-the-market equity program (ATM Program) allowing the company to offer and sell common shares with an aggregate offering price of up to US$50 million. The program, implemented through an equity distribution agreement with several agents, will enable sales through the Toronto Stock Exchange and NYSE American stock exchange. Proceeds will be used to advance exploration, development, expansion, debt repayment, and working capital requirements for various projects, including McCoy Cove, Granite Greek, Lone Tree, and Ruby Hill. The ATM Program is expected to be effective until the earlier of reaching the US$50 million limit or around the end of the company's first quarter.
i-80 Gold Corp (TSX: IAU, NYSE: IAUX) reported Q2 2024 operating results:
- Accessed first mineralized material at South Pacific Zone of Granite Creek mine
- Q2 gold sales of 1,636 ounces at $2,361/oz
- YTD gold sales of 4,122 ounces at $2,193/oz
- Q2 revenue of $7.2 million, YTD revenue of $15.6 million
- Q2 net loss of $25.4 million, YTD net loss of $36.6 million
- Completed public offering to strengthen financial position
- Advancing exploration, drilling and studies at Nevada projects
- Transitioning to US GAAP reporting starting in 2025
The company continues to progress its Nevada gold projects towards commercial production, with a focus on developing Granite Creek, McCoy-Cove and Ruby Hill mines.
i-80 Gold Corp (TSX: IAU) (NYSE: IAUX) has announced high-grade results from its ongoing 2024 underground drilling program at the McCoy-Cove Property in Nevada. Highlight results include:
- 48.3 g/t Au over 3.0 m and 15.8 g/t Au over 15.8 m (Lower Helen Zone)
- 22.6 g/t Au over 7.1 m (Lower Helen Zone)
- 10.4 g/t Au over 38.8 m and 11.0 g/t Au over 20.6 m (Lower Helen Zone)
The McCoy-Cove Property is part of i-80's 'hub and spoke' plan, with Lone Tree as a central processing facility. CEO Ewan Downie stated that Cove is among the highest-grade, development-stage gold deposits in North America. The property offers substantial exploration upside, including potential for oxide open pit mineralization near the historic McCoy mine.
i-80 Gold announced positive metallurgical results from its Ruby Hill and Golden Hill projects in Nevada. Blue Coast Research completed the study on samples from these properties, revealing high zinc recoveries up to 96%, lead recoveries up to 97.9%, and silver recoveries up to 85%. Gold recoveries from oxidized zones were 86.8% for Upper Hilltop and 85.1% for Golden Hill. Future work will focus on the Mineral Point deposit at Ruby Hill, with significant gold and silver resources. Initial polymetallic resource estimates are planned as part of mine development strategies. The results of flotation tests showed high-grade concentrates and positive recoveries, paving the way for future resource estimates and economic studies.
i-80 Gold has announced the results of its 2024 annual and special meeting of shareholders held on May 14, 2024. Shareholders approved setting the number of directors at nine, electing all director nominees listed in the management information circular. Ron Clayton received 94.167% of votes, and Cassandra Joseph received 97.359%. Shareholders also reappointed Grant Thornton LLP as auditors and approved unallocated awards under the omnibus share incentive plan with 66,111,435 shares in favor. The formal report will be filed on SEDAR+ and EDGAR. The company is also initiating a CEO succession planning process.
i-80 Gold announced high-grade results from its underground drilling at the Granite Creek Property in Nevada. The latest results from seven new drill holes in the South Pacific Zone include 22.0 g/t Au over 29.0 m and 60.5 g/t Au over 4.1 m. These findings confirm substantial gold mineralization and continuity in the area, which is expected to become the primary mining zone in H1-2024. The company aims to extend mine workings to access initial stopes. Additionally, a large-scale surface drill program with four rigs is planned to further define and expand the South Pacific Zone ahead of a new resource estimate and Feasibility Study.
i-80 Gold Corp. (TSX: IAU, NYSE: IAUX) reported its Q1 2024 operating results.
Gold sales reached 2,486 ounces at an average price of $2,083 per ounce, contributing to total revenues of $8.41 million.
Key operations included 10,167 tons of mineralized material sold for $3.2 million, and significant drilling activities at Ruby Hill and McCoy-Cove projects.
Recent developments included a bought deal public offering raising approximately C$115 million.
Cash balance stood at $13.1 million, with $39.0 million in restricted cash.
Operating loss was $11.16 million, improved from $21.34 million in Q1 2023.
The company plans continued exploration and development, aiming to become a mid-tier Nevada-focused producer.
i-80 Gold Corp. provides an update on its Granite Creek Property exploration and development program in 2024, including definition and expansion drilling, underground development, and test mining of the South Pacific Zone. The program aims to bring the SPZ into the long-term mine plan and increase Measured and Indicated Mineral Resources. Exceptional high-grade results were obtained from the 2023 drilling program, with the SPZ remaining open for expansion. The Company plans to complete an updated resource estimate and Feasibility Study, benefiting from recent financing to accelerate project advancement.
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