Revenue Performance - Revenue for Q1 2025 totaled $14.0 million, a 66% increase from $8.4 million in Q1 2024, driven by higher ounces sold and a higher average realized gold price[6] - Consolidated revenue rose to $14,048,000 in Q1 2025, up from $8,413,000 in Q1 2024, marking an increase of approximately 66.8%[40] - Gold sales reached 4,952 ounces at an average realized price of $2,825 per ounce, compared to 4,061 ounces at $2,063 per ounce in the prior year[6] - Ruby Hill's gold revenue increased to $1,343,000 in Q1 2025 from $895,000 in Q1 2024, representing a growth of approximately 50.1%[40] - Granite Creek's gold ounces sold increased to 3,106 oz in Q1 2025 from 1,575 oz in Q1 2024, reflecting an increase of about 97.1%[40] Financial Losses and Cash Flow - The net loss for the quarter was $41.2 million, compared to a loss of $19.7 million in Q1 2024, primarily due to revaluation losses[7] - Cash used in operating activities was $22.7 million, a decrease from $25.2 million in the prior year[6] - The company has a cash balance of $13.5 million as of March 31, 2025, down $5.5 million during the quarter[6] Cost Management - Processing cost per processed ounce improved to $551/oz in Q1 2025 from $573/oz in Q1 2024, a decrease of about 3.8%[31] - Site G&A costs per processed ounce significantly reduced to $154/oz in Q1 2025 from $436/oz in Q1 2024, a decline of approximately 64.7%[31] - Capital expenditures for Q1 2025 were $63,000, a substantial decrease from $415,000 in Q1 2024, indicating a reduction of about 84.8%[31] Project Developments - The Granite Creek Underground project is expected to ramp up to steady-state gold output in the second half of 2025[4] - The company plans to ramp up Granite Creek's gold output to a steady state during the second half of 2025[36] - Approximately 15,000 feet of underground delineation drilling was completed at the Cove Project to enhance mineral resource estimates[12] - The permitting process for the Cove Project is on track, with approvals anticipated by the end of 2027[27] Strategic Initiatives - The company is advancing its recapitalization plan, including a $12 million prepayment agreement with Auramet International, Inc.[9] - i-80 Gold is executing a hub-and-spoke regional mining and processing strategy to maximize efficiency and growth[34] Gold Price Trends - Average realized gold price increased to $2,833/oz in Q1 2025 from $2,097/oz in Q1 2024, reflecting a growth of about 35.2%[40] - Gold ounces sold decreased to 1,394 oz in Q1 2025 from 2,042 oz in Q1 2024, representing a decline of approximately 31.8%[31] Asset Valuation - The combined after-tax net present value of the five gold assets is approximately $1.6 billion at a 5% discount rate and $2,175 per ounce gold price[4]

Revenue and Sales Performance - Revenue for Q1 2025 was $14.0 million, a 66% increase from $8.4 million in Q1 2024, driven by higher gold ounces sold and a higher average realized gold price[89]. - Gold sales totaled 4,952 ounces at an average realized price of $2,825 per ounce, compared to 4,061 ounces at $2,063 per ounce in the prior year[91]. - Revenue for Q1 2025 was $14.0 million, a 67% increase from $8.4 million in Q1 2024, driven by higher gold ounces sold and a higher average realized gold price of $2,825 per ounce[135][136]. - Gold ounces sold in Q1 2025 totaled 4,952 ounces, compared to 4,061 ounces in Q1 2024, reflecting a significant increase in production[136]. - Average realized gold price per ounce sold rose to $2,825 in Q1 2025 from $2,063 in Q1 2024[183]. - The average spot price of gold in Q1 2025 was $2,862 per ounce, a 38% increase from $2,072 per ounce in Q1 2024[136]. Financial Performance - Net loss for the quarter was $41.2 million, compared to a net loss of $19.7 million in the prior year, with a loss per share of $0.10 versus $0.06[89]. - For Q1 2025, the company reported a net loss of $41.2 million, compared to a net loss of $19.7 million in Q1 2024[174]. - Adjusted loss for Q1 2025 was $23.6 million, slightly improved from an adjusted loss of $24.1 million in Q1 2024[184]. - Cash used in operating activities was $22.7 million, an improvement from $25.2 million in the prior year[91]. - Cash used in operating activities decreased to $22.7 million in Q1 2025 from $25.2 million in Q1 2024, primarily due to higher gross profit[175]. - Cash provided by financing activities increased to $18.3 million in Q1 2025, up from $17.3 million in Q1 2024, driven by an additional $2.5 million from the ATM program[176]. Production and Development - The company expects to extract between 30,000 to 40,000 ounces of gold in 2025, with Granite Creek underground contributing 20,000 to 30,000 ounces[99]. - Total mineralized material mined in Q1 2025 was 30,519 tonnes, a 140% increase from 12,702 tonnes in Q1 2024, with oxide and sulfide material grades at 11.89 g/t and 8.31 g/t respectively[115]. - The company processed 33,838 tonnes of mineralized material in Q1 2025, with 916 ounces sold from the Lone Tree heap leach facility[115][116]. - The company expects gold output to ramp up to steady-state during the second half of 2025, supported by additional dewatering infrastructure upgrades[115]. - The Lone Tree Autoclave refurbishment feasibility study is expected to be completed in Q4 2025, remaining central to the company's development plan[93]. - The Cove project is on track for permitting approvals by the end of 2027, with a draft plan submitted to the Bureau of Land Management[129]. Capital and Expenditures - Growth expenditures for 2025 are projected to be between $40 million to $50 million, focusing on permitting activities, feasibility studies, and development work[94]. - Capital expenditures for Q1 2025 were $378,000, a decrease from $461,000 in Q1 2024, focused on sustaining capital[135][137]. Agreements and Financing - A new Gold Prepay and Silver Purchase Agreement was entered into with National Bank for approximately 6,864 ounces of gold and 345,549 ounces of silver, with deliveries due by September 30, 2025[107]. - The company executed a working capital facility with Auramet International for $12 million, maturing in 12 months[92]. - The Company entered into a New Gold Prepay and Silver Purchase Agreement with National Bank on March 31, 2025, involving the sale of 6,864 ounces of gold and 345,549 ounces of silver[166]. - The Company issued 28.2 million common shares at a price of C$0.80 per share for gross proceeds of approximately $15.6 million on January 31, 2025[169]. - The company issued 4.3 million shares for gross proceeds of $2.5 million under the ATM program during the quarter[173]. - The company completed a private placement of 13.1 million shares at C$1.80 per share for gross proceeds of C$23.5 million in Q1 2024[173]. Assets and Liabilities - Cash and cash equivalents decreased by $5.5 million from $19.0 million at December 31, 2024 to $13.5 million as of March 31, 2025[145]. - Inventory increased to $24.0 million as of March 31, 2025 from $15.3 million at December 31, 2024, primarily due to the buildup of sulfide material[146]. - Total liabilities increased to $341.0 million as of March 31, 2025 from $315.0 million at December 31, 2024, driven by increases in the Gold Prepay and Silver Purchase Agreement derivative value[147]. - The Company’s total debt as of March 31, 2025 was $197.475 million, up from $191.397 million at December 31, 2024[153]. - As of March 31, 2025, the current portion of the Gold Prepay liability was $14.9 million and the embedded derivative was $17.9 million[162]. - The current portion of the Silver Purchase Agreement liability was $7.3 million with an embedded derivative of $15.5 million as of March 31, 2025[164]. - As of March 31, 2025, warrant liability increased to $6.6 million from $4.6 million as of December 31, 2024[172]. Risk and Credit Management - The trade receivable balance outstanding was $2.0 million as of March 31, 2025, down from $4.2 million on December 31, 2024, indicating a reduction in trade credit risk[196]. - The company has negligible credit risk associated with trade receivables due to a historical level of customer defaults being negligible[196]. - The company invests only in highly rated investment grade instruments with maturities of 90 days or less, ensuring negligible credit risk on cash and cash equivalents[196]. - The company has outstanding surety bonds amounting to $137.7 million for environmental reclamation and exploration permitting, secured by restricted cash[196]. Liquidity and Capital Needs - The Company plans to meet its liquidity requirements by deferring non-essential costs and will need to raise additional capital for both short-term and long-term needs[149].

Core Viewpoint - i-80 Gold Corp. has appointed Paul Chawrun as Chief Operating Officer, effective April 30, 2025, to enhance its leadership during a critical growth phase [1][2]. Company Overview - i-80 Gold Corp. is focused on becoming a mid-tier gold producer, leveraging its high-quality asset portfolio in Nevada, which is the fourth largest gold mineral resource holder in the state [5]. - The company is executing a hub-and-spoke regional mining and processing strategy to maximize efficiency and growth, utilizing a fully permitted central processing facility [5]. Leadership Appointment - Paul Chawrun brings over 30 years of experience in mining, with a strong background in gold mining operations, including roles at Centerra Gold and Teranga Gold [2][3]. - His previous achievements include overseeing safety and engineering improvements, operating cost reductions, and the successful transition of companies from single to multi-asset producers [2]. Strategic Vision - Chawrun expressed enthusiasm about i-80 Gold's project pipeline, highlighting its strategic location in a Tier-1 mining jurisdiction and the potential for significant growth [3]. - The company has already outlined substantial high-grade resources and aims to advance these assets through feasibility studies and into production [3]. Transition Details - Upon Chawrun's start date, Matthew Gili will resign as President and COO, with Richard Young assuming the role of President in addition to his current position as CEO [4].

Company Leadership Change - Matthew Gili, President & COO of i-80 Gold Corp., will step down from his role, continuing until a successor is appointed and for a transition period thereafter [1][2] - Richard Young, the current CEO, will assume the President role following Gili's departure, and a search for a new COO has commenced [3][4] Company Progress and Strategy - Since its inception in 2021, Gili has been instrumental in advancing i-80 Gold's development projects, including exploration, resource expansion, and bringing the Granite Creek Underground project into early-stage production [2] - i-80 Gold Corp. aims to build a mid-tier gold producer in Nevada, leveraging its high-quality asset portfolio and a fully permitted central processing facility [4] Market Position - i-80 Gold Corp. is the fourth largest gold mineral resource holder in Nevada, with a pipeline of high-grade development and production-stage projects located in prolific gold-producing trends [4]

Core Viewpoint - i-80 Gold Corp. has filed independent technical reports for its various projects, which support the company's disclosures and outline the economic potential of its mineral resources [1][2][3][4][5][6]. Group 1: Technical Reports - The technical reports were filed in compliance with National Instrument 43-101 and Regulation S-K 1300, and are accessible on SEDAR+ and EDGAR [2]. - The Cove Project report, dated March 31, 2025, supports previous disclosures made on February 12, 2025 [3]. - The Ruby Hill Projects report, also dated March 31, 2025, supports disclosures from February 18 and February 21, 2025 [4]. - The Granite Creek Projects report, dated March 31, 2025, aligns with disclosures from March 5 and March 6, 2025 [5]. - The Lone Tree Project report, dated March 28, 2025, supports the disclosures made in the Annual Report for the year ended December 31, 2024 [6]. Group 2: Company Overview - i-80 Gold Corp. is focused on becoming a mid-tier gold producer in Nevada, holding a significant portfolio of high-quality assets [7]. - The company is the fourth largest gold mineral resource holder in Nevada, with a strategy to maximize efficiency and growth through a hub-and-spoke mining and processing approach [7].

Financial Data and Key Metrics Changes - Gold sales totaled approximately 9,050 ounces for the fourth quarter and 21,500 ounces for the year, reflecting the impact of water issues at Granite Creek [38] - Total revenue from gold and silver sales was approximately $23 million for the fourth quarter and $50 million for the full year, slightly lower than the prior year due to lower volumes sold, partially offset by a higher average realized gold price [39] - The company concluded both the quarter and the full year in a net loss position due to ongoing development of projects, with growth expenditures primarily allocated towards infill drilling and pre-development activities [40] Business Line Data and Key Metrics Changes - At Granite Creek Underground, approximately 38,000 ounces of gold were mined, achieving 71% of the internal target, with production just above 16,000 ounces [20] - Production from heap leach operations exceeded internal targets, with approximately 6,200 ounces produced from Lone Tree and 3,700 ounces from Ruby Hill [24] - The company expects to produce between 30,000 and 40,000 ounces of gold in 2025, with Granite Creek Underground contributing 20,000 to 30,000 ounces [25] Market Data and Key Metrics Changes - The company filed four SK 1300s and four NI 43-101 reports under US and Canadian regulations, respectively, highlighting the potential value of its gold portfolio [7][8] - Life of mine valuations based on recent published PAs indicate a combined net present value of $1.6 billion at a gold price of $2,175 per ounce and $4.5 billion at $2,900 per ounce [11] Company Strategy and Development Direction - The company announced a new development plan for its portfolio of three underground and two open pit gold projects, aiming to produce half a million ounces of gold by the early 2030s [4][9] - A strategic change to the development plan includes the addition of the autoclave refurbishment, which is pivotal for the recapitalization plan [12][14] - The company is in active discussions regarding financing options, including a senior debt facility and royalty sales, to support its development plan [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the activities being manageable and staggered, with expectations for improved cash flow models as feasibility studies are released [10] - The anticipated capital spend for the autoclave refurbishment is included in the recapitalization plan, with a goal to secure new senior financing by the second quarter of 2026 [17] - Management highlighted the importance of advancing permitting activities and investing in feasibility studies as top priorities for growth expenditures [46] Other Important Information - The company transitioned from IFRS to US GAAP as of January 1, 2025, impacting the reporting of pre-development costs and resulting in several financial adjustments [34][36] - The company has maintained a clean environmental record, ending the fourth consecutive year without any environmental violation notices [19] Q&A Session Summary Question: What is the status of the recapitalization plan? - Management indicated that the recapitalization plan is well underway, with agreements in place with National Bank and Aramet, reflecting confidence in the quality of the technical reports filed [51]

NYSE:IAUX | TSX:IAU MADE IN THE U.S.A. CautionRegardingMineralResourceEstimates This presentation uses the terms measured mineral resources, indicated mineral resources, and inferred mineral resources as a relative measure of the level of confidence in the resource estimate. Readers are cautioned that mineral resources are not economic mineral reserves and that the economic viability of mineral resources that are not mineralreserves has not been demonstrated. Mineralresource estimates may be materially affe ...

Revenue and Sales Performance - Revenue for Q4 2024 was $23.2 million, down 10% from $25.8 million in Q4 2023, primarily due to lower volumes sold, partially offset by a higher average realized gold price of $2,560 per ounce compared to $1,989 per ounce in the prior year [638][641]. - Gold sales for the year totaled 21,527 ounces at an average realized gold price of $2,332 per ounce, resulting in revenue of $50.3 million, down from 29,370 ounces and $57.5 million in 2023 [641]. - Revenue for Q4 2024 was $23.2 million, a decrease of 10% from $25.8 million in Q4 2023, driven by lower gold ounces sold [695]. - Gold revenue for the year ended December 31, 2024, was $50,210,000, down from $57,452,000 in 2023, a decrease of 13% [1]. - The company reported a total revenue of $23,228,000 for Q4 2024, down from $25,837,000 in Q4 2023, a decline of 10% [1]. Financial Losses and Expenses - The net loss for the year ended December 31, 2024, was $121.5 million, an increase from a net loss of $89.7 million in 2023, with a loss per share of $0.34 compared to $0.33 in the previous year [638][641]. - The company's net loss for the year ended December 31, 2024, was $36,053,000, significantly reduced from $121,533,000 in 2023 [2]. - Interest expense for the year ended December 31, 2024 was $33.0 million, an increase of $5.6 million compared to $27.3 million in 2023 [713]. - Cash used in operating activities for the year was $82.5 million, an increase from $77.5 million in 2023, primarily due to lower production [641]. - Cash used in operating activities for Q4 2024 was $9.2 million, an increase of $4.3 million compared to $4.9 million in Q4 2023, primarily due to lower changes in non-cash working capital [742]. Production and Operational Plans - The company expects to produce between 30,000 to 40,000 ounces of gold in 2025, with extraction from Granite Creek underground projected to be 20,000 to 30,000 ounces [651]. - The company plans to advance permitting activities, feasibility studies, and development work at Archimedes underground, with growth expenditures expected to total between $40 million to $50 million in 2025 [651][652]. - The company completed approximately 110,000 feet of drilling with positive results to expand mineralization at various projects, including Granite Creek and Cove [641]. - The permitting process for the Archimedes underground project is ongoing, with state permits expected in Q2 2025 [683]. - The Cove Project's infill drill program is nearing completion, with a total of 78,776 feet drilled, and an additional 15,000 feet planned for Q1 2025 [689]. Capital and Financing Activities - The company initiated a recapitalization plan to reschedule current debt obligations and provide additional capital for its new development plan [645][652]. - In Q1 2024, the Company issued 13.1 million shares at C$1.80 per share, raising gross proceeds of $17.4 million, and completed a bought deal public offering of 69.7 million units at C$1.65 per unit for gross proceeds of $83.5 million [657]. - The Company finalized third-party processing agreements for toll milling and ore sales, effective through December 31, 2027, with refurbishment of the Lone Tree autoclave facility targeted for completion by the same date [670]. - The Company is finalizing a working capital facility with Auramet International, Inc. for up to $12 million, maturing in 12 months [654]. - The Company issued 4.3 million common shares under the ATM Program for total gross proceeds of $2.5 million after December 31, 2024 [667]. Inventory and Cash Management - Cash and cash equivalents increased by $2.7 million to $19.0 million as of December 31, 2024, from $16.3 million at the end of 2023 [714]. - Inventory rose to $15.3 million as of December 31, 2024, up from $11.4 million at the end of 2023, due to stockpiled mineralized material [715]. - Cash, cash equivalents, and restricted cash at the end of Q4 2024 totaled $59.3 million, a slight decrease from $60.8 million at the end of Q4 2023 [740]. - The company has satisfied minimum cash requirements through March 31, 2025, as part of the Waiver Agreements with Orion [735]. Debt and Liabilities - Total liabilities increased to $315.0 million as of December 31, 2024, compared to $309.0 million at the end of 2023, due to higher reclamation liabilities [717]. - As of December 31, 2024, total debt amounted to $191.4 million, a slight decrease from $194.1 million in 2023, with the Orion Convertible Loan increasing from $46.8 million to $57.1 million [723]. - The Convertible Debentures bear an interest rate of 8.0% per annum, with a total principal and accrued interest of $75.4 million as of December 31, 2024 [724]. Exploration and Development Activities - Exploration drilling at Ruby Hill was significantly reduced, with only 4,032 feet drilled in 2024 compared to 93,488 feet in 2023 [684]. - The company plans to complete an infill drilling program in 2025 to upgrade resources to a feasibility study level [677]. - A new development plan was announced, focusing on developing three underground mines and accelerating the permitting of two large oxide open pit deposits, aiming to create a mid-tier gold producer [642][649].

Core Viewpoint - i-80 Gold Corp. is focusing on ramping up its Granite Creek Underground Project, strengthening its balance sheet, and advancing its pipeline of projects towards feasibility, following a new development plan established in 2024 [3][10]. Financial Highlights - Total revenue for Q4 2024 was $23.2 million, down from $25.8 million in Q4 2023, attributed to lower volumes sold despite a higher average gold price of $2,560 per ounce compared to $1,989 per ounce in the prior year [7][9]. - For the full year 2024, total revenue was $50.3 million, a decrease from $54.9 million in 2023, with gold sales totaling 21,527 ounces at an average realized price of $2,332 per ounce [7][9]. - The company reported a net loss of $17.7 million for Q4 2024, an improvement from a loss of $36.1 million in Q4 2023, and a full-year net loss of $121.5 million compared to $89.7 million in 2023 [9][16]. Operational Updates - The company has adopted a new development plan to permit, construct, and ramp up five gold projects, aiming to produce approximately 400,000 to 500,000 ounces of gold annually [3][10]. - The Granite Creek Underground Project continues to be a focus, with significant drilling completed to expand mineralization [7][20]. - The company has initiated a recapitalization plan to reschedule current debt obligations and provide additional capital for its development strategy [10][13]. Project Development - The company is advancing its five gold projects, with updated Preliminary Economic Assessments (PEAs) filed in March 2025, outlining growth expenditures of $40 million to $50 million over the next three years [12][15]. - The Granite Creek project has seen increased mining of oxide and sulfide material, with a total of 29,517 tonnes mined in Q4 2024 [17][21]. - The company is also focusing on permitting and technical studies for the Archimedes Underground Project and Mineral Point Open Pit Project, with construction activities expected to begin in 2025 [29][30]. Recapitalization Efforts - A new gold and silver prepay agreement with National Bank of Canada was established, involving the sale of approximately 6,800 ounces of gold and 345,000 ounces of silver [15]. - The company is in discussions for various financing options, including a senior lending facility and asset sales, to support its recapitalization plan [13][15].

Financial Performance - Total revenue for the three months ended September 30, 2024, was $11,509,000, a decrease of 13% compared to $13,215,000 for the same period in 2023[5] - Gross loss for the three months ended September 30, 2024, was $4,920,000, compared to a gross loss of $473,000 in the same period of 2023[5] - Net loss for the nine months ended September 30, 2024, was $103,803,000, significantly higher than the net loss of $53,601,000 for the same period in 2023[5] - The company reported a basic and diluted loss per share of $0.11 for the three months ended September 30, 2024, compared to $0.02 for the same period in 2023[5] - The company reported a net loss of $43.1 million for the three months ended September 30, 2024, compared to a net loss of $4.9 million for the same period in 2023[120] - Basic and diluted loss per share for the nine months ended September 30, 2024, was $0.30, compared to $0.20 for the same period in 2023[120] Assets and Liabilities - Total current assets increased to $46,269,000 as of September 30, 2024, from $39,813,000 as of December 31, 2023, representing a 16% increase[2] - Total liabilities decreased slightly to $308,208,000 as of September 30, 2024, from $308,987,000 as of December 31, 2023[2] - The company’s accumulated deficit increased to $267,088,000 as of September 30, 2024, from $163,285,000 as of December 31, 2023[2] - Long-term debt as of September 30, 2024, totaled $188.377 million, with significant components including $54.329 million from the Orion Convertible Loan and $71.694 million from Sprott Convertible Loan[52] - Total other liabilities increased to $30,770,000 as of September 30, 2024, compared to $23,022,000 at December 31, 2023, representing a 33.5% increase[79] Cash Flow and Operating Activities - Cash used in operating activities for the nine months ended September 30, 2024, was $73,277,000, compared to $72,545,000 for the same period in 2023[7] - Cash, cash equivalents, and restricted cash at the end of the period were $61,675,000, down from $81,710,000 at the end of the previous year[7] Share Issuance and Financing - The company issued 69,698,050 shares in a brokered placement, raising $74,644,000[10] - The Company reported total gross proceeds of approximately $83.5 million (C$115 million) from a bought deal public offering of 69.7 million units at a price of C$1.65 per unit[30] - The Company issued 11.5 million common shares under the ATM Program at a weighted average share price of $1.14 per common share, resulting in total gross proceeds of $13.1 million[29] - The Company closed a private placement offering of $65 million principal amount of secured convertible debentures with an interest rate of 8.00% per annum, maturing on February 22, 2027[60] - The Company completed a non-brokered private placement of 13.1 million common shares at C$1.80 per share, raising gross proceeds of $17.4 million (C$23.5 million) on February 20, 2024[102] Inventory and Expenses - Total inventory increased from $11.387 million as of December 31, 2023, to $15.895 million as of September 30, 2024, with inventory write-downs of $12.1 million recognized for the nine months ended September 30, 2024[47] - The total amount of inventory recognized as an expense in cost of sales for the nine months ended September 30, 2024, was $43.6 million, compared to $31.0 million for the same period in 2023[47] - Exploration and evaluation expenses for the three months ended September 30, 2024, were $5,384,000, a decrease of 37% from $8,553,000 in 2023[124] - Total interest expense for the three months ended September 30, 2024, was $8,214,000, an increase of 20% from $6,845,000 in 2023[126] Agreements and Commitments - The Company has a working capital deficit and current operating losses, indicating material uncertainties regarding its ability to continue as a going concern within one year[16] - The Company is required to transition to U.S. GAAP reporting by January 1, 2025, and is currently evaluating the impact of new accounting standards on its financial statements[18][22] - The Company has entered into a second amending agreement with Orion Mine Finance to extend the deadline for gold deliveries until May 10, 2024, under the Gold Prepay Agreement[34] - The Gold Prepay Agreement requires the Company to deliver 30,400 troy ounces of gold to Orion, with an initial payment of $41.9 million[63] - The Silver Purchase Agreement mandates the delivery of 1.2 million ounces of silver, with an ongoing cash purchase price equal to 20% of the prevailing silver price[71] Fair Value and Derivatives - The company recognized a fair value loss of $0.6 million and a gain of $7.3 million related to embedded derivatives for the three and nine months ended September 30, 2024, respectively[53] - The company recorded a fair value loss of $3,000,000 related to the Gold Prepay Agreement embedded derivative for the three months ended September 30, 2024[90] - The company recognized a fair value loss of $1,300,000 related to the Silver Purchase Agreement embedded derivative for the three months ended September 30, 2024[91] - The Gold Prepay Agreement's gold price derivative had a fair value of $(9,589) thousand as of September 30, 2024, with a potential change in fair value of $4,402 thousand for a +/- 10% change in forecast gold price[144] - The Silver Purchase Agreement's silver price derivative had a fair value of $(4,681) thousand as of September 30, 2024, with a potential change in fair value of $2,606 thousand for a +/- 10% change in forecast silver price[144] Share-Based Payments and Options - The company recognized a share-based payment liability of $1,401,000 at September 30, 2024, up from $1,184,000 at December 31, 2023, indicating a 18.3% increase[88] - The total fair value of vested and unvested RSUs and DSUs at September 30, 2024, was C$5.8 million, up from C$2.4 million at December 31, 2023[117] - The Company recorded share-based payment expenses of $1.9 million for the nine months ended September 30, 2024, compared to $2.5 million for the same period in 2023[119] - The Company had 10.7 million stock options outstanding as of September 30, 2024, with a weighted average exercise price of C$2.43[112] - The weighted average share price at the date of exercise for stock options for the nine months ended September 30, 2024, was C$1.85, down from C$3.17 in 2023[111] Acquisitions - The acquisition of Paycore Minerals Inc. was completed for a total consideration of $88.416 million, including $66.037 million in share consideration[42] - The fair value of net assets acquired from Paycore was $88.416 million, including cash of $10.027 million and mineral properties valued at $92.081 million[45] - The Company issued 5.0 million common shares to Waterton in connection with the Paycore acquisition, and acquired 100% of Paycore's shares, issuing 25.5 million common shares to Paycore shareholders[107] - The company issued 5,016,991 common shares to Waterton, valued at $12.75 million, based on a share price of C$3.46 on the acquisition date[44] Other Information - The company had outstanding surety bonds totaling $132.8 million for environmental reclamation and exploration permitting as of September 30, 2024[134] - Capital expenditures for the nine months ended September 30, 2024, were $1,775,000, compared to $109,508,000 in the same period of 2023[130] - As of September 30, 2024, total assets were $655,127,000, compared to $654,283,000 as of December 31, 2023[130] - The company had one customer that made up trade receivables as of September 30, 2024, indicating a diversified customer base for its products[122] - The balance of Convertible Loans as of September 30, 2024, was $(1,777) thousand, reflecting fair value adjustments of $7,251 thousand during the period[144] - Sprott converted C$3.6 million in principal and C$0.9 million in interest of the Sprott Convertible Loan into 2.1 million common shares[59] - On October 31, 2024, the company issued 2.1 million common shares for the conversion of $3.6 million in principal and $0.9 million in interest under the Sprott Convertible Loan[145] - The company issued 6.2 million common shares under the ATM Program for total gross proceeds of $7.0 million after the period ended September 30, 2024[146]