i-80 Gold Reports Q1 2026 Results: Full Earnings Call Transcript

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Summary

I-80 Gold Corp reported a beardown commencement to 2026, highlighting the completion of a $1 cardinal recapitalization that secures backing for signifier 1 and 2 of their improvement strategy, including refurbishing the Lone Tree processing installation and processing caller projects.

Record quarterly gross and gross nett were achieved, driven by accrued golden accumulation and sales, contempt a fewer operational setbacks similar the transformer nonaccomplishment astatine Granite Creek.

The institution initiated its largest drilling programme to day to enactment upcoming feasibility and pre-feasibility studies, aiming to importantly summation golden accumulation by 2028 and implicit aggregate cardinal projects wrong the adjacent fewer years.

Full Transcript

OPERATOR

Hello and convey you for joining I-80 Gold Corp's 2026 First Quarter Results Conference telephone and webcast. Today's institution presenters see Richard Young, President and Chief Executive Officer of I-80 Gold Corp, Paul Charun, COO and Ryan Snow, CFO. Before we continue, delight enactment that today's comments whitethorn incorporate guardant looking statements which impact risks and uncertainties. Actual results could disagree materially. I inquire everyone to notation to descent 2 of the presumption which is disposable connected I-80 Gold Corp's website to presumption the cautionary notes regarding the guardant looking statements made connected this telephone and the hazard factors related to these statements. All amounts are successful US Dollars unless different stated. Following today's format presentation, we volition unfastened the telephone to your questions. I'll present manus the telephone implicit to Richard.

Richard Young (President and Chief Executive Officer)

Well convey you Vincent and hullo and convey you for joining today's call. Starting with descent three, we're disconnected to a beardown commencement successful 2026 advancing our maturation strategy to make a Nevada based mid tier golden producer. We are pleased to present person the recapitalization down america arsenic we completed the recapitalization successful the archetypal quarter, a task that took astir 12 months to complete. Through a bid of financing transactions we've secured implicit $1 cardinal providing backing certainty, paying disconnected bequest indebtedness and de risking our improvement plan. With the recapitalization complete, we judge we are present afloat funded to beforehand signifier 1 and signifier 2 of our improvement program which presently see the refurbishment and commissioning of our centralized Lone Tree processing facility, improvement of 3 underground projects to provender Lone Tree arsenic portion of our hub and spoke strategy, arsenic good arsenic processing 1 of our 2 ample unfastened pit bauxite projects. This maturation pipeline is uncommon for a improvement institution of our size. Phase 1 and 2 are expected to make capable escaped currency travel to money signifier 3 which presently includes the improvement of Mineral Point, a ample oxide unfastened pit which is really the largest task wrong our portfolio. During the 4th we made fantabulous advancement advancing each 3 phases of our improvement plan, achieved grounds quarterly gross and gross nett arsenic we yet enactment the h2o contented down america astatine Granite Creek and Paul volition talk astir that shortly. Advance operation of our 2nd underground excavation connected fund and connected docket Receive committee support for the Lone Tree works refurbishment pursuing completion of the recapitalization. This each puts america connected way to implicit signifier 1 of our improvement program to summation golden accumulation from astir 50,000 ounces this twelvemonth to betwixt 150 and 200,000 ounces per twelvemonth by 2028. We've besides initiated the largest drill programme successful our company's past for assets and reserve improvement successful enactment of feasibility and pre feasibility studies owed adjacent year. Our recapitalization repositions the institution arsenic the absorption shifts present from a anemic equilibrium expanse to the worth of our plus basal and execution, IAD is amended positioned contiguous than astatine immoderate constituent successful our company's history. I'll crook it present implicit to Paul for a look astatine each project.