RENO, Nev. — May 16, 2025 /PRNewswire/ — In a bullish move to solidify its position in Nevada’s gold rush resurgence, i-80 Gold Corp. (TSX:IAU; NYSE:IAUX) has successfully closed a landmark $173 million bought deal public offering. The transaction, which included the full exercise of over-allotment options, allocates 345,760,000 units priced at $0.50 per unit. Each unit combines one common share with half a share purchase warrant, convertible at $0.70 before November 2027. This capital infusion arrives amid heightened investor appetite for precious metal plays, positioning i-80 to scale its Nevada exploration and extraction ambitions.
Complementing the public offering, the company plans a $11.12 million private placement of 22,240,000 units under identical terms. Together, these transactions will pour $184 million into i-80’s coffers, fueling its transition from exploration-driven metrics to a mid-tier producer aligned with the Comstock and Cortez trends. Funds are earmarked to activate the Perth-Shine processing facility’s refurbishment and accelerate resource delineation at four flagship sites, signaling a aggressive pivot toward production by 2026.
The concurrent placement, set to finalize by May 20 subject to regulatory sign-offs, will onboard directors and strategic shareholders. U.S. investors face a six-month hold, while Canadian stakeholders observe a four-month reporting lag—a nuance often exploited by sector arbs tracking institutional lock-ups.
Underwriting heavyweights National Bank Financial and Cormark Securities anchored the deal, flanked by five additional underwriters including Canaccord and BMO Nesbitt. Pertinent filings across U.S. and Canadian Regulators underscored investor clarity, with amidst a market backdrop where Nevada land valuations have surged 19% since Q1 gold rallied above $2,300 per ounce.
While skeptics question execution risks given the asset breweries’ pre-production phase, the raise leverages the company’s singular regulatory-ready hub-and-spoke model—a strategic advantage in a permitting-tightened region. Analysts at RBC Capital noted in recent commentary that i-80’s proximity to AngloGold’s Pipeline Mine and Barrick’s Goldrush could crystallize joint-venture synergies by yearend.
About i-80 Gold Corp.
With assets spanning 325 kilometers of Nevada’s historic Silver Trend and Battle Mountain corridors, i-80 Gold Corp. holds subterranean claims straddling Cretaceous-era ore bodies. Its 2025 feasibility roadmap for the Ruby Hill project, buttressed by this equity layer, aims to output 300,000 pre-tax ounces annually—a numerical target that may recalibrate when TraGold’s parallel pit in Eureka County begins dewatering operations in August. The stock trades at a 16.4% Z-score discount to peers on an enterprise-value-per-ounce basis, per S&P Global precious metal analytics.
Notes of Caution
Market participants are reminded that forward-looking metrics drawing from today’s release remain conditional. Project schedules hinge on geotechnical Jazz intercept data, while permitting arbitrations for the South Mountain expansion continue before Nevada Department of Environmental Protection. The company’s 10-K explicitly flags drilling variances in motherlode estimates—a known volatility vector across the Carlin Complex. As of April 30, i-80’s AISC per ounce ran 8% above the industry mean, though LOM studies anticipate compression post-2026. Diversification theta remains unconfirmed until RSU pre-feasibility results in Q2 2025.
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SOURCE i-80 Gold Corp
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