I-80 Gold Stock Price, News & Analysis

i-80 Gold Corp (TSX: IAU) (NYSE: IAUX) has announced the pricing of its previously announced prospectus offering at C$0.80 per share, targeting aggregate gross proceeds of US$10,000,000. The net proceeds will be used for developing the company's Nevada projects and for working capital purposes, as the company works towards completing the second phase of its recapitalization plan by March 31, 2025.

The offering will be made through a prospectus supplement to the company's short form base shelf prospectus filed on June 21, 2024. The offering requires regulatory approvals from the Toronto Stock Exchange and NYSE American, along with other customary closing conditions. No commission or finder's fee will be paid for this offering.

i-80 Gold Corp (TSX: IAU) (NYSE: IAUX) has completed the amendment and restatement of its convertible credit agreement with Orion Mine Finance. Key changes include: extending the maturity date by six months to June 30, 2026, implementing security measures for company obligations, and issuing 5 million common share purchase warrants to Orion with an exercise price of C$1.01, expiring January 15, 2029.

The company also announced plans for a US$10 million prospectus financing of common shares, expected to close around January 31, 2025. Major shareholders, board members, and management team have indicated their intention to participate. The proceeds will support the development of Nevada projects and working capital needs as the company progresses toward completing its second phase recapitalization plan by March 31, 2025.

i-80 Gold Corp (TSX: IAU, NYSE: IAUX) has reached an agreement with convertible debenture holders to amend the terms of its $65 million convertible debentures as part of its second phase recapitalization plan. The amendments include three key changes: 1) Modifying the conversion price for outstanding and accrued interest to reflect a 15% discount to the 5-day volume weighted average price on TSX; 2) Removing the Company's right to grant pari-passu security against McCoy-Cove, making debenture holders senior secured on this asset; and 3) Adding a new redemption right allowing the Company to redeem debentures at a 104% premium plus accrued interest.

These changes follow the October 15, 2024 appointment of a debenture holders' committee representing approximately 66 2/3% of the principal amount. The Company expects to complete its recapitalization plan by the end of Q1 2025.

i-80 Gold Corp (IAUX) has completed the first phase of its recapitalization plan by securing agreements with Orion Mine Finance to defer December 2024 gold and January 2025 silver deliveries to March 31, 2025. The deferral includes 3,210 ounces of gold and 400,000 ounces of silver. As part of the agreement, i-80 will issue five million common share purchase warrants to Orion and enter into a new offtake agreement.

The company plans to release Preliminary Economic Assessments for all five gold projects in Q1 2025, alongside feasibility studies for Granite Creek underground and McCoy-Cove underground in Q4 2025. A class III engineering study for the Lone Tree autoclave refurbishment is expected in H2 2025.

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.