Core Insights - i-80 Gold Corp has finalized two third-party processing agreements for toll milling and ore sales, effective until December 31, 2027, which are crucial for advancing the development of its underground gold mines [1][3] - The refurbishment of the Lone Tree autoclave facility is targeted for completion by December 31, 2027, allowing for processing of all material from the company's underground gold mines [1][6] - A class III engineering study on the autoclave refurbishment is expected to be completed by the end of Q3 2025 [4] Company Overview - i-80 Gold Corp is focused on becoming a mid-tier gold producer in Nevada, holding the fourth largest gold mineral resource in the state, with a portfolio of high-grade development and production-stage projects [5] - The company is executing a hub-and-spoke regional mining and processing strategy to maximize efficiency and growth, leveraging its fully permitted central processing facility [5]

Core Viewpoint - The Granite Creek Open Pit project in Nevada is highlighted as a top-tier open pit oxide project with strong economic potential, contributing significantly to the company's production profile and growth strategy [1][4]. Project Economics - The project has a pre-tax NPV (5%) of $581.3 million and an after-tax NPV (5%) of $421.2 million, with an internal rate of return (IRR) of 30% based on a gold price of $2,175 per ounce [3][4]. - Estimated after-tax cash flows total $660.9 million over the mine's life, which is approximately 10 years, with an average annual gold production of 130,000 ounces following ramp-up [4][28]. - The project anticipates cash costs of $1,185 per ounce and all-in sustaining costs of $1,225 per ounce [4][29]. Mineral Resource Estimates - The updated mineral resource estimate indicates a total measured and indicated gold resource of 1.44 million ounces at a grade of 1.18 grams per tonne (g/t) [4][7]. - Inferred mineral resources are estimated at 0.08 million ounces at a grade of 1.09 g/t [4][8]. Mining and Processing - The project will utilize a conventional open pit mining method with a carbon-in-leach (CIL) processing facility, which is expected to enhance gold recovery compared to heap leaching [5][20]. - The CIL plant is designed to process approximately 3.5 million tonnes of mineralized material per year, achieving an average gold recovery rate of 86.6% [4][23]. Capital and Operating Costs - Total capital costs for the project are estimated at $292.4 million, including construction, sustaining capital, and reclamation costs [27][28]. - The project requires significant pre-production stripping, with costs associated with capitalized stripping estimated at $33.9 million [4][27]. Permitting and Environmental Considerations - The project has existing permits for ongoing underground mining operations, but additional state and federal permits will be required for the open pit operations [30][31]. - The permitting process is expected to take approximately three years, with a focus on environmental impact assessments [31][32]. Next Steps - A feasibility study is planned for completion in Q4 2025, which will include an updated mineral resource estimate and further technical disclosures [35][36].

Core Viewpoint - i-80 Gold Corp has completed amendments to its $65 million convertible debenture indenture and closed a concurrent private placement, enhancing its liquidity and refinancing flexibility as part of its recapitalization plan [1][2]. Group 1: Convertible Debenture Amendments - The company finalized a first supplemental indenture to amend the terms of the convertible debenture indenture, as previously disclosed [3]. - The amendments include revised definitions for conversion prices related to accrued and unpaid interest on the convertible debentures, with specific pricing mechanisms based on market performance [6][7]. - The company has a redemption right allowing it to redeem all outstanding convertible debentures at a 104% premium of the principal amount, plus accrued interest [7]. Group 2: Concurrent Private Placement - The company closed a concurrent private placement of 997,871 common shares at a price of C$0.80 per share, generating gross proceeds of approximately C$798,297 [9]. - All participants in the private placement were insiders, and the transaction is exempt from certain formal valuation and minority shareholder requirements [10]. - The net proceeds from the private placement are intended for working capital and general corporate purposes, reflecting the confidence of directors and officers in the company's strategic direction [12]. Group 3: Company Overview - i-80 Gold Corp is focused on mining in Nevada and holds the fourth largest gold mineral resources in the state, aiming to become a mid-tier gold producer [14].

Group 1 - i-80 Gold Corp. has successfully closed its prospectus offering of 28,212,593 common shares at a price of C$0.80 per share, resulting in gross proceeds of approximately C$22,570,074 [1][2] - The shares were offered across Canadian provinces and territories, excluding Québec, and in the United States under the company's U.S. registration statement [2] - A concurrent private placement offering to certain directors and officers is expected to close in the first week of February 2025, pending regulatory approvals [3] Group 2 - i-80 Gold Corp. is a Nevada-focused mining company with the third largest gold mineral resources in Nevada, aiming to become a mid-tier gold producer through a recapitalization plan [5] - The company's common shares are listed on both the TSX and NYSE American under the symbols IAU:TSX and IAUX:NYSE [5]

Group 1 - i-80 Gold Corp has filed a prospectus supplement to its short form base shelf prospectus, aiming to distribute a minimum of 18,000,000 common shares at a price of C$0.80 per share, with minimum gross proceeds of C$14,400,000 and a maximum of 36,250,000 shares for up to C$29,000,000 [1][2] - The size of the Offering has been increased from US$10 million to US$20 million (C$29 million), pending regulatory approvals, with an expected closing date around January 31, 2025 [2] - Concurrently, the Company will complete a private placement offering of up to 1,004,208 subscription receipts at C$0.80 each, aiming for gross proceeds of up to C$803,367, with specific conditions for the release of escrowed funds [5] Group 2 - The Company is focused on unlocking the value of its high-grade gold deposits to establish itself as a mid-tier gold producer in Nevada, where it holds the third largest gold mineral resources [8] - The common shares of i-80 Gold Corp are listed on the TSX and NYSE American under the symbols IAU:TSX and IAUX:NYSE, respectively [8]

Core Viewpoint - i-80 Gold Corp. is conducting a prospectus offering of common shares to raise gross proceeds of US$10 million, with shares priced at C$0.80 each [1][2]. Group 1: Offering Details - The offering aims to raise an aggregate gross amount of US$10 million [1]. - The shares will be priced at C$0.80 each [1]. - The net proceeds will be utilized for project development in Nevada, working capital, and general corporate purposes as part of the company's recapitalization plan, expected to be completed by March 31, 2025 [2]. Group 2: Regulatory and Filing Information - The offering will be conducted under a prospectus supplement to the company's short form base shelf prospectus filed on June 21, 2024 [3]. - The prospectus supplement will be filed with securities regulatory authorities in Canada (excluding Québec) and the U.S. Securities and Exchange Commission [3]. - The completion of the offering is subject to regulatory approvals from the Toronto Stock Exchange and NYSE American, along with other customary closing conditions [4]. Group 3: Company Overview - i-80 Gold Corp. is focused on mining in Nevada and holds the third largest gold mineral resources in the state [7]. - The company's recapitalization plan aims to unlock the value of its high-grade gold deposits to establish itself as a mid-tier gold producer in Nevada [7].

Core Viewpoint - i-80 Gold Corp has successfully amended and restated its convertible credit agreement with Orion Mine Finance, extending the maturity date and issuing warrants as part of the agreement [1][2]. Group 1: Convertible Credit Agreement - The maturity date of the A&R Convertible Credit Agreement has been extended by six months to June 30, 2026, with additional security required by March 31, 2025 [2]. - The company issued five million common share purchase warrants to Orion with an exercise price of C$1.01, expiring on January 15, 2029 [2]. - The issuance of the 2025 Orion Warrants is considered a related party transaction due to Orion's significant shareholding in the company [7]. Group 2: Financing and Use of Proceeds - i-80 Gold intends to complete a prospectus financing of common shares for gross proceeds of US$10 million, with participation expected from major shareholders [3][4]. - The net proceeds from the offering will be used for project development in Nevada and for working capital as part of the company's recapitalization plan [4]. Group 3: Regulatory and Compliance - The offering will be made pursuant to a prospectus supplement filed with Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission [5]. - The consummation of the offering is subject to regulatory approvals from the Toronto Stock Exchange and NYSE American [6].

Core Viewpoint - i-80 Gold Corp. has reached an agreement with certain convertible debenture holders to amend the terms of its convertible debentures, marking the first step in the second phase of its recapitalization plan, which is expected to be completed by the end of Q1 2025 [1][4][9]. Summary by Sections Recapitalization Plan - The company completed the first phase of its recapitalization plan by deferring gold and silver deliveries on December 31, 2024 [9]. - The second phase aims to unlock the value of high-grade gold projects in Nevada [9]. Convertible Debentures - On February 22, 2023, the company closed a private placement offering of $65 million principal amount of secured convertible debentures [2]. - As of October 15, 2024, debenture holders representing approximately 66 2/3% of the principal amount appointed a committee to direct the trustee on behalf of the debenture holders [3]. Amendments to Indenture - The agreement includes three amendments to the indenture: 1. The conversion price for noteholders will be adjusted to the volume weighted average price of i-80 Gold common shares on the TSX during the five trading days before the conversion, minus a 15% discount [5]. 2. The company's right to grant security on a pari-passu basis against McCoy-Cove is removed, ensuring debenture holders remain senior secured [6]. 3. A new redemption right allows the company to redeem the debentures for cash at a 104% premium of the outstanding principal, providing greater flexibility [7]. Approval and Conditions - The amendments are subject to approval from the committee, TSX, and NYSE American [8]. - A waiver of an event of default related to a minimum cash requirement was granted, contingent upon the implementation of the amendments by February 28, 2025 [7].

Group 1 - The article expresses personal opinions and analysis based on cited sources, aiming to share interesting ideas or discoveries that may help others or generate meaningful conversation [1][3] - The author has a beneficial long position in the shares of IAUX, indicating a personal investment interest in the company [2] - There is no formal securities training mentioned, suggesting that the insights provided may be based on personal experience rather than professional qualifications [1] Group 2 - The article does not provide any specific investment recommendations or advice, emphasizing that past performance is not a guarantee of future results [4] - The author does not have any business relationships with companies mentioned, which may indicate an attempt to maintain objectivity in the analysis [2][4] - The views expressed may not reflect those of the platform as a whole, highlighting the individual nature of the analysis [4]

i-80 Gold Corp. (NYSE:IAUX) Q3 2024 Earnings Conference Call November 13, 2024 10:00 AM ET Company Participants Richard Young - CEO Matt Gili - President & COO Ryan Snow - CFO Dave Savarie - SVP, General Counsel Leily Omoumi - VP, Corporate Development & Strategy Conference Call Participants Kent Whitaker - KP7 Investors Bryce Adams - CIBC Capital Markets John Tumazos - John Tumazos Very Independent Research José Cánovas - Global Income William Siegel - WJ Siegel Consultants Operator Good morning. My name i ...