Resource Delineation

i-80 Gold Corp. raised $184 million through a $173 million bought-deal public offering and an $11.12 million private placement, each unit priced at $0.50 with half-warrants convertible at $0.70 by November 2027. Proceeds will refurbish the Perth-Shine facility and accelerate resource delineation at four Nevada sites ahead of its 2026 production target. Anchored by National Bank Financial and Cormark Securities, the financing supports i-80’s shift to a mid-tier producer near AngloGold’s Pipeline Mine and Barrick’s Goldrush, leveraging a regulatory-ready hub-and-spoke model. Despite higher all-in sustaining costs (AISC) and permitting delays, the stock trades at a 16.4% Z-score discount to industry peers, amid surging Nevada land valuations and Carlin Complex volatility risks.