i-80 Gold Announces Executive Change
Rhea-AI Summary
i-80 Gold Corp (NYSE: IAUX) announced that Matthew Gili will step down from his position as President & Chief Operating Officer. Gili, who has served since the company's inception in 2021, will remain in his role until a successor is appointed and through a transition period.
Under Gili's leadership, the company achieved significant milestones including:
- Advancement of exploration initiatives
- Resource expansion
- Progress in technical studies and permitting
- Bringing the Granite Creek Underground project into early-stage production
CEO Richard Young will assume the President role following Gili's departure. The company has initiated a search for a new COO to lead its next growth phase while maintaining focus on development timelines.
Positive
- Early-stage production achieved at Granite Creek Underground project
- Operational continuity maintained with CEO taking President role
- Structured leadership transition with Gili staying until successor found
Negative
- Loss of key executive who led company since inception
- Potential operational disruption during leadership transition
News Market Reaction
On the day this news was published, IAUX gained 12.83%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Matthew Gili has served as the Company's President & COO since its inception in 2021, playing an integral role in advancing i-80 Gold's portfolio of development projects. Under his leadership, the Company has made significant progress in exploration, resource expansion, technical studies, permitting, and bringing the Granite Creek Underground project into early-stage production.
"We are grateful to Matt for his committed leadership and the significant contributions he has made during his tenure with the Company," said Richard Young, Chief Executive Officer. "He has played a key role in advancing the Company's new development plan to build a mid-tier gold producer in
Mr. Young added, "A search for a new COO has begun to lead us through the next phase of growth, building on the strong foundation that has been laid to-date. We look forward to updating the market when the search has concluded. In the meanwhile, our operations management team is focused on maintaining momentum and achieving our development timelines."
About i-80 Gold Corp.
i-80 Gold Corp. is a
Forward-Looking Information
Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including but not limited to the Company's ability to achieve its development timelines, and the transition in leadership not interrupting the Company's ability to deliver on its strategic objectives. Furthermore, forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the Company's current expectations regarding future events, performance and results and speak only as of the date of this release or as of the dates specified in such statements, and are expressly qualified in their entirety by this cautionary statement. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by applicable law.
Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to: material adverse changes, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labor unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, please see "Risks Factors" in the Annual Report on Form 10-K for the fiscal year ended December 31, 2024 for more information regarding risks pertaining to the Company, which is available on EDGAR at www.sec.gov/edgar and SEDAR+ at www.sedarplus.ca. Readers are encouraged to carefully review these risk factors as well as the Company's other filings with the
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SOURCE i-80 Gold Corp
FAQ
When is Matthew Gili leaving his position as President & COO of i-80 Gold (IAUX)?
What major achievements were accomplished under Matthew Gili's leadership at i-80 Gold (IAUX)?
Who will take over as President of i-80 Gold (IAUX) after Gili's departure?
What is i-80 Gold's (IAUX) plan for replacing the COO position?
