i-80 Gold Reports Second Quarter 2025 Results and Project Development Highlights

Core Insights - i-80 Gold Corp. reported significant operational and financial improvements in Q2 2025, with revenue reaching $27.8 million, a substantial increase from $7.2 million in the same period last year, driven by higher gold sales and prices [4][5][13] - The company is advancing its three-phase development plan, focusing on key projects and the refurbishment of the Lone Tree autoclave, which is essential for its hub-and-spoke mining strategy [2][12][34] Financial Performance - Revenue for the three months ended June 30, 2025, was $27.8 million, compared to $7.2 million in Q2 2024, primarily due to increased gold ounces sold and a higher average realized gold price of $3,301 per ounce [4][5][51] - The company reported a net loss of $30.2 million for Q2 2025, an improvement from a net loss of $41.0 million in Q2 2024, attributed to a gross profit increase of $13.1 million [6][13] - Cash used in operating activities decreased to $11.3 million from $24.6 million year-over-year, reflecting improved operational efficiency [5][6] Development Initiatives - The company is executing a recapitalization strategy, having raised $185.5 million in May 2025 through a public offering and private placement, with plans to allocate approximately $92 million for construction, drilling, and permitting activities across its projects [10][11] - Key upcoming catalysts include the initiation of underground development at Archimedes in Q3 2025, completion of feasibility studies, and refurbishment of the Lone Tree autoclave by Q4 2025 [12][28][34] Project Updates - The Granite Creek property is ramping up towards steady-state gold output, with significant increases in both oxide and sulfide mineralized material mined compared to the previous year [14][19] - The Archimedes underground project is set to commence initial development in Q3 2025, with permitting efforts progressing well [25][27] - The Lone Tree processing facility is undergoing a feasibility study for refurbishment, which is expected to enhance processing capabilities for the company's high-grade underground deposits [33][35]