i-80 Gold Corp. Reports $27.8 Million Revenue and Significant Financial Improvements

i-80 Gold Corp. reported significant financial improvements in its latest quarterly results, with revenues reaching $27.8 million for the three months ended June 30, 2025, compared to $7.2 million in the same period last year. This increase was primarily driven by a rise in gold sales, which totaled 8,400 ounces at an average realized price of $3,301 per ounce, up from 3,445 ounces at $2,337 per ounce in the prior year. The company also reported a gross profit of $798,000, a notable recovery from a gross loss of $12.3 million in the previous year. However, the net loss for the quarter was $30.2 million, an improvement from a loss of $41 million in the same quarter of 2024.

The company’s financial position has strengthened significantly, with cash and cash equivalents increasing to $133.7 million as of June 30, 2025, up from $19 million at the end of 2024. This increase is attributed to successful financing initiatives, including a bought deal public offering that raised $172.9 million in gross proceeds. i-80 Gold also executed a private placement that generated an additional $12.6 million. The total assets of the company rose to $782.9 million, compared to $655.6 million at the end of the previous fiscal year.

Operationally, i-80 Gold has made strides in its development plans, completing 8,717 feet of core drilling during the quarter to enhance mineral resource definition at its Ruby Hill and Granite Creek properties. The company is focused on advancing its multi-asset development plan, which includes the refurbishment of the Lone Tree autoclave facility, expected to serve as a central processing hub for its underground mines. The company aims to ramp up production to over 600,000 ounces of gold annually in the long term.

In terms of liabilities, total liabilities increased slightly to $319.3 million from $315 million at the end of 2024, primarily due to increases in other liabilities related to the Silver Purchase Agreement. The company’s long-term debt decreased as a result of principal repayments on its Gold Prepay and Silver Purchase Agreements. i-80 Gold continues to explore additional financing options to support its growth plans, including potential debt facilities and asset sales.

Looking ahead, i-80 Gold expects to extract between 30,000 to 40,000 ounces of gold in 2025, with a focus on advancing permitting activities and feasibility studies across its projects. The company is actively working to secure the necessary capital to execute its development plan, with growth expenditures projected to total between $40 million to $50 million in 2025. The outlook remains contingent on various market conditions and operational factors, which could impact future performance.