i-80 Gold (US:IAUX)2025-11-13 15:00Operational Progress - Granite Creek underground development saw mined grades and tonnage reconcile well with the geological model, with improved groundwater management[16] - Archimedes underground construction commenced on time, marking the start of the company's second planned underground mine[16] - The company expects to meet its 2025 consolidated guidance of 30,000 to 40,000 ounces of gold[16] - Approximately 15,000 tonnes of oxide material at 9.8 g/t Au and approximately 15,000 tonnes of 2.95 g/t, along with approximately 20,000 tonnes of sulfide material at 10.7 g/t Au were mined at Granite Creek[23] - At Archimedes underground, development reached over 1,000 feet of drift advance as of early November[32] - Approximately 41,000 meters of infill drilling were completed at Cove underground across the Gap and Helen zones[35] Financial Highlights - Revenue reached $32.019 million for the three months ended September 30, 2025, compared to $11.509 million for the same period in 2024[45] - Gross profit was $3.118 million for the three months ended September 30, 2025, a significant improvement from a loss of $4.920 million in the same period of 2024[45] - The company reported a net loss of $41.867 million, or $0.05 per share, for the three months ended September 30, 2025[45] - The company's cash balance was approximately $103 million at the end of the quarter[46] Recapitalization and Future Plans - Approximately $200 million was raised through bought-deal and private placements in 2025[48] - The company is targeting $350 million - $400 million in financing[48]