i-80 Gold (US:IAUX)2025-12-19 14:00Lone Tree Plant Refurbishment - The Lone Tree plant refurbishment is a key project to enable a hub-and-spoke mining and processing strategy for i-80 Gold Corp[14] - The refurbishment aims to unlock transformational value by enabling in-house processing of both sulfide and oxide material from three underground operations[21] - The refurbishment project has completed ~30% detailed engineering, suggesting a high level of technical definition and improved accuracy of capital cost estimates[26] - The anticipated processing scenario is expected to increase margins by approximately $1,000 - $1,500/oz Au at Granite Creek and Archimedes, driving free cash flow generation[21] - The refurbishment project is estimated to require ~600,000 direct construction hours, which is relatively low compared to greenfield mining projects with 1M+ construction hours[26] Production and Development Plan - The company aims to become a mid-tier gold producer with a target of producing 500,000 ounces of gold per annum[2] - The company anticipates average annual gold production to exceed 600,000 ounces in Phase 3 (2032E+), incorporating Granite Creek Underground, Archimedes Underground, Lone Tree Autoclave, Cove Underground, Granite Creek Open Pit, and Mineral Point Open Pit[48] - The company expects to secure funding for the recapitalization plan by the end of Q2 2026 or earlier, aligning with the scheduled construction decision for the Lone Tree refurbishment[43] Financials and Risks - The Lone Tree plant refurbishment project has a revised capital expenditure (CAPEX) of $430 million, compared to the 2023 study's $386 million[37] - The company is actively pursuing senior debt and royalty financing options, with due diligence and evaluation underway[43] - The company is considering the sale of the FAD non-core asset, with indicative proposals expected in early 2026[43]