i-80 Gold (IAUX)2025-05-05 10:31Revenue Performance - Revenue for Q1 2025 totaled 8.4 million in Q1 2024, driven by higher ounces sold and a higher average realized gold price[6] - Consolidated revenue rose to 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 2,063 per ounce in the prior year[6] - Ruby Hill's gold revenue increased to 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 19.7 million in Q1 2024, primarily due to revaluation losses[7] - Cash used in operating activities was 25.2 million in the prior year[6] - The company has a cash balance of 5.5 million during the quarter[6] Cost Management - Processing cost per processed ounce improved to 573/oz in Q1 2024, a decrease of about 3.8%[31] - Site G&A costs per processed ounce significantly reduced to 436/oz in Q1 2024, a decline of approximately 64.7%[31] - Capital expenditures for Q1 2025 were 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 2,833/oz in Q1 2025 from 1.6 billion at a 5% discount rate and $2,175 per ounce gold price[4]