i-80 Gold (IAUX) Company Report

i-80 Gold Corp. reported a net loss of $85.6 million for Q4 2025 and $198.8 million for the full year 2025, with an adjusted loss of $37.8 million for Q4 2025 and $122.9 million for FY 2025.
Revenue from gold sales for the full year 2025 increased to $95.2 million from $50.3 million in the prior year, with 31,930 ounces of consolidated gold output, meeting its 2025 guidance.
The company announced a financing package of up to $500 million in February 2026, which is expected to fully fund Phase one and two of its development plan.
The Lone Tree Plant refurbishment, a central processing facility, has an estimated capital cost of $430 million and is anticipated to be commissioned by the end of 2027.
For 2026, i-80 Gold Corp. projects Granite Creek underground production of 30,000 - 40,000 ounces and plans $140 - $160 million in growth capital for the Lone Tree Plant.

Feb 19, 2026, 10:25 PM

8-K

i-80 Gold Corp. Secures Up to $500 Million Financing Package

IAUX

Debt Issuance

New Projects/Investments

Guidance Update

i-80 Gold Corp. secured a financing package of up to $500 million on February 11, 2026, comprising a $250 million royalty sale from Franco-Nevada and a gold pre-payment facility of up to $250 million from National Bank of Canada and Macquarie Bank Limited.
This financing, combined with previously disclosed equity offerings, brings the total funding to over $800 million to support i-80 Gold's development plan.
The proceeds will be used to retire approximately $175 million in existing debt obligations, including $95 million to Orion and $86 million in Convertible Debentures, and to advance five gold projects and refurbish the Lone Tree Plant.
The recapitalization plan, targeting $900 million to $1 billion in total funding, is anticipated to close by the end of the first quarter 2026 and is expected to fully fund Phase 1 and Phase 2 of the development plan.
This development is projected to increase annual gold production to approximately 300,000 – 400,000 ounces from less than 50,000 ounces currently.

Feb 18, 2026, 1:24 PM

8-K

i-80 Gold secures $500 million financing package to advance development plan

IAUX

Debt Issuance

New Projects/Investments

Guidance Update

i-80 Gold has secured a financing package of up to $500 million, comprising a $250 million royalty sale to Franco-Nevada Corporation and a gold pre-payment facility for up to $250 million from National Bank of Canada and Macquarie Bank Limited.
This financing, combined with previously disclosed equity offerings in Q2 2025, brings the total funding to over $800 million towards an overall recapitalization plan targeting $900 million to $1 billion.
The proceeds will be used to fully fund Phase 1 and Phase 2 of the development plan, which is expected to increase annual gold production to 300,000 – 400,000 ounces from less than 50,000 ounces currently, and to extinguish approximately $175 million in existing debt obligations.
The company plans to retire and replace existing convertible debentures and potentially sell a non-core asset to complete the recapitalization plan, with a long-term goal of increasing annual gold output to over 600,000 ounces by 2032.

Feb 12, 2026, 12:17 PM

Press Release

i-80 Gold Announces Lone Tree Plant Refurbishment Study Results

IAUX

New Projects/Investments

Guidance Update

i-80 Gold announced the results of an engineering study for the refurbishment of its Lone Tree Plant in Northern Nevada, with a capital cost estimate of $412 million plus $18 million in capital spares.
The refurbishment is expected to reduce current processing costs to approximately one third, resulting in an estimated margin increase of $1,000 to $1,500 per ounce of gold with a potential payback period of 12 to 24 months.
The company plans to commence construction in the second half of 2026, with plant commissioning anticipated at the end of 2027.

Jan 20, 2026, 3:15 PM

Press Release

i-80 Gold Reports High-Grade Assay Results from Granite Creek Underground Project

IAUX

New Projects/Investments

Guidance Update

Revenue Acceleration/Inflection

i-80 Gold Corp. announced new assay results from its 2025 drilling campaign at the Granite Creek Underground Project, revealing robust high-grade mineralization throughout the South Pacific Zone (SPZ) and confirming the potential for mineral resource expansion to the north and at depth.
The 16,000-meter 2025 drilling program, conducted from June to December 2025 across 46 holes, primarily focused on infill drilling to support the conversion of inferred mineral resources to the indicated category.
Highlight results from infill holes include 40.4 g/t Au over 13.2 m in hole iGU25-31, 31.3 g/t Au over 7.8 m in hole iGU25-15, 15.0 g/t Au over 17.5 m in hole iGU25-24, and 12.8 g/t Au over 19.8 m in hole iGU25-08.
The results from the 2025 drill program will be combined with prior data to produce an updated mineral resource estimate, which will form the basis of the upcoming Granite Creek Underground feasibility study, expected to be completed in late Q1 2026 with results released in Q2 2026.

Jan 20, 2026, 11:01 AM

Press Release

i-80 Gold Corp. Announces Lone Tree Plant Refurbishment Update

IAUX

New Projects/Investments

Guidance Update

Revenue Acceleration/Inflection

i-80 Gold Corp. announced the results of an engineering study for the refurbishment of its Lone Tree Plant, a key milestone in its phase one growth plan.
The refurbishment is expected to transition the company from toll-milling to an owner-operator processing model, significantly increasing margins and free cash flow generation, with an estimated margin increase of $1,000 to $1,500 per ounce of gold.
The total capital cost estimate for the project is $430 million, with a potential short payback period of 12 to 24 months.
Plant commissioning is anticipated to begin in the fourth quarter of 2027, following the expected completion of the recapitalization plan by the end of the second quarter of 2026 or earlier.

Dec 29, 2025, 9:17 PM

8-K

i-80 Gold Announces Lone Tree Plant Refurbishment Study Results

IAUX

New Projects/Investments

Guidance Update

Revenue Acceleration/Inflection

i-80 Gold announced the results of an engineering study for the refurbishment of its Lone Tree Plant, a cornerstone asset in its phase one growth plan.
The refurbishment has an estimated total project cost of $430 million, including capital spares.
This project is expected to significantly increase margins by approximately $1,000 to $1,500 per ounce of gold and has a potential payback period of 12 to 24 months.
Construction is anticipated to begin in the second half of 2026, with plant commissioning projected for the end of 2027.

Dec 19, 2025, 12:05 AM

Press Release

i-80 Gold Reports Q3 2025 Results and Project Development Progress

IAUX

Earnings

Guidance Update

New Projects/Investments

i-80 Gold Corp. reported Q3 2025 revenue of $32.0 million, a substantial increase from the prior year, and a reduced net loss of $41.9 million.
The company saw gold sales increase to 9,368 ounces at an average realized price of $3,412 per ounce in Q3 2025, alongside significant progress in underground development at Granite Creek and the commencement of construction at the Archimedes project.
i-80 Gold remains on track to meet its 2025 production guidance of 30,000 to 40,000 ounces of gold and is actively working to secure additional capital to complete its recapitalization plan by mid-2026.

Nov 12, 2025, 10:06 PM

8-K

i-80 Gold Corp. Announces High-Grade Mineral Resource Estimate for FAD Project

IAUX

New Projects/Investments

i-80 Gold Corp. announced on November 6, 2025, a mineral resource update for its FAD Project, confirming the presence of high-grade gold, silver, lead, and zinc mineralization.
The FAD Project has an Indicated Mineral Resource Estimate of 594 kt at 4.51 g/t Au, 209.7 g/t Ag, 4.34% Pb, and 6.77% Zn, containing 86 koz Au, 4.0 Moz Ag, 57 Mlb Pb, and 89 Mlb Zn.
The Inferred Mineral Resource Estimate for FAD is 2,736 kt at 5.07 g/t Au, 188.6 g/t Ag, 3.69% Pb, and 4.42% Zn, containing 446 koz Au, 16.6 Moz Ag, 223 Mlb Pb, and 267 Mlb Zn.
At spot commodity prices, the FAD Project contains approximately 7,360 kt of material with 895 koz Au, 31 Moz Ag, 407 Mlb Pb, and 678 Mlb Zn.
The FAD Project is considered a non-core asset and is being contemplated for sale to support the company's recapitalization objectives.

Nov 12, 2025, 4:42 PM

8-K

i-80 Gold Announces High-Grade Mineral Resource Estimate for FAD Project

IAUX

New Projects/Investments

M&A

i-80 Gold Corp. announced an updated mineral resource estimate for its FAD Project, confirming high-grade gold, silver, lead, and zinc mineralization.
The FAD Project's indicated mineral resource estimate is 594 kt at 4.51 g/t Au, 209.7 g/t Ag, 4.34% Pb, and 6.77% Zn, containing 86 koz Au, 4.0 Moz Ag, 57 Mlb Pb, and 89 Mlb Zn. The inferred mineral resource estimate is 2,736 kt at 5.07 g/t Au, 188.6 g/t Ag, 3.69% Pb, and 4.42% Zn, containing 446 koz Au, 16.6 Moz Ag, 223 Mlb Pb, and 267 Mlb Zn.
The company considers FAD a non-core asset and is contemplating its sale to support recapitalization objectives, while focusing on its portfolio of five core gold projects and refurbishing the Lone Tree central processing facility.
The FAD Project was acquired in 2023 through the acquisition of Paycore Minerals Inc. for approximately US$88 million through an all-share transaction.