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 American: IAUX; TSX: IAU) generates frequent news flow as it advances a multi-asset gold development plan in Nevada. Company updates cover its operating Granite Creek underground mine, the Ruby Hill property (including the Archimedes underground and Mineral Point open pit projects), the Cove underground project, and the Lone Tree autoclave and carbon-in-leach processing facility that anchors its hub-and-spoke strategy.
News for IAUX often highlights operating and financial results, such as quarterly revenue, gold sales, and cash flow trends, alongside detailed project development milestones. Releases discuss underground development progress at Granite Creek and Archimedes, infill and step-out drilling results at high-grade zones like the South Pacific Zone at Granite Creek and key zones at Cove, and technical study timelines including preliminary economic assessments and planned feasibility studies.
Investors following i-80 Gold’s news can also track engineering and permitting updates for the Lone Tree Plant refurbishment, including design details for the upgraded POX circuit, tailings filtration system, and environmental control upgrades. Additional coverage includes mineral resource updates for projects such as FAD, permitting milestones with Nevada regulators and the Bureau of Land Management, recapitalization initiatives, equity financings, and governance developments like shareholder meeting results and board changes.
This news page provides a consolidated view of IAUX press releases and related coverage so readers can monitor how i-80 Gold executes its Nevada-focused development plan, progresses technical and permitting work, and manages its capital structure over time.
i-80 Gold Corp (TSX: IAU) (NYSE: IAUX) has successfully completed its previously announced prospectus offering, raising approximately C$22.57 million through the sale of 28,212,593 common shares at C$0.80 per share. The offering was made available across Canadian provinces and territories (excluding Québec) through a prospectus supplement dated January 27, 2025, to its short form base shelf prospectus from June 21, 2024.
The company also expects to close a separate private placement offering to certain directors and officers in early February 2025, pending regulatory approvals from the Toronto Stock Exchange and NYSE American.
i-80 Gold Corp (TSX: IAU) (NYSE: IAUX) has filed a prospectus supplement for an upsized offering of common shares. The offering size has been increased from US$10 million to US$20 million (C$29 million), consisting of a minimum of 18,000,000 shares and a maximum of 36,250,000 shares at C$0.80 per share.
The offering is expected to close around January 31, 2025, subject to regulatory approvals. Additionally, the company announced a concurrent private placement of up to 1,004,208 subscription receipts at C$0.80 per receipt for gross proceeds of up to C$803,367 with company directors and officers. The private placement proceeds will be held in escrow until certain conditions are met, including shareholder and regulatory approvals.
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.