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i-80 Gold posts doubled production pace and ends quarter with $465M cash
The miner also reported a wider $53 million quarterly net loss and said several projects remain behind schedule as it scales output.
i-80 Gold (NYSEAMERICAN: IAUX) said its second-quarter results reflected progress after a March recapitalization, with production more than doubling versus last year and ending the quarter with about $465 million in cash, according to Yahoo Finance.
The company attributed the cash balance to the completion of its first-quarter recapitalization, which released roughly $17 million in restricted cash, as well as the exercise of 8.5 million warrants in the second quarter. It also said total proceeds funded and committed have reached more than $1 billion since May 2025 following the March financing transactions.
Operationally, Granite Creek Underground produced about 8,600 ounces in the second quarter, bringing year-to-date output to roughly 17,500 ounces. i-80 Gold reported first-half production of about 22,000 ounces, up from 14,300 a year earlier, and said first-half revenue rose to nearly $77 million from $42 million.
Despite the scale-up, i-80 Gold reported that net loss widened to $53 million for the quarter and $131 million for the first half, up from $30 million and $71 million a year earlier, with losses driven largely by noncash revaluations tied to new financial instruments and financing costs. The company also said development is advancing, but that several projects are still running behind schedule.
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