I-80 Gold Stock Earnings Reports

i-80 Gold completed a ~12-month recapitalization in Q1 2026 that secured over $1 billion of funding, paid off legacy debt and materially derisked its multi‑phase development plan. Management says the company is fully funded to advance Phase 1 and 2 (refurbish Lone Tree processing facility, develop three underground mines to feed Lone Tree, and develop one of two large open‑pit oxide projects), with Phase 1 expected to lift production from ~50,000 oz in 2026 to 150,000–200,000 oz/year by 2028. Operational highlights: Granite Creek water issues are now under control, quarterly gold production roughly doubled to ~10,800 oz with record quarterly revenue (~$52M) and gross profit ($16.1M), and Archimedes underground construction is ahead of schedule with first production targeted in Q4 2026 and ramp through 2027. Lone Tree plant refurbishment is on plan for first gold by end of 2027 with capital costs tracking the $430M December 2025 estimate. Mineral Point (the largest asset) has a large drilling program (~131,000 m planned) funded in part by a $250M Franco‑Nevada royalty ( $225M received so far) and is being advanced toward a 2027 pre‑feasibility. Balance sheet and financing: cash of approximately $514M at quarter end, financing package includes Franco‑Nevada NSR, a $150M draw on a $250M gold prepay, and $287.5M of convertible notes. Financials: revenue and gross profit increased materially year‑over‑year; net loss widened due to noncash fair‑value and financing costs tied to the recap and higher predevelopment/ exploration spending (GAAP expensing until reserves declared). Key near‑term catalysts: feasibility studies for three undergrounds, pre‑feasibility studies for two open pits, bringing Archimedes online, Lone Tree commissioning, and ongoing large‑scale drilling and resource conversions at Mineral Point. Management reiterates execution focus and the opportunity to close valuation gap vs. asset base.