The following is a summary of the I-80 Gold Corp. (IAUX) Q3 2024 Earnings Call Transcript:

Financial Performance:

• i-80 Gold Corp. reported Q3 2024 revenues of $11.5 million, down from $13.2 million year over year due to lower volumes sold despite a higher gold price.

• The company recorded a loss per share of $0.10 for the quarter, a noticeable decrease compared to the prior year's $0.01 loss per share.

• The company ended the quarter with $21.8 million in cash.

• Cost of sales increased by $3.2 million from the previous year due to inventory write-downs primarily associated with water management issues at Granite Creek.

Business Progress:

• i-80 Gold is implementing a new development plan to focus on their most advanced stage gold and silver projects, deferring higher risk and economically uncertain projects.

• Four key projects are expected to ramp up: Granite Creek, Archimedes Underground, McCoy Cove, and Mineral Point, with a focus on accelerating the development of Granite Creek and Mineral Point as large-scale heap leach mines.

• The company has added new senior roles and promoted key personnel to support the development plan and address increased technical and compliance demands as it transitions to a U.S. domestic issuer.

Opportunities:

• Advanced staged gold projects are expected to generate free cash flow with minimal new capital thanks to their low-capital intensity.

• Strategic focus on priority mines will streamline operational efforts and improve financial stability.

Risks:

• i-80 Gold is undergoing a recapitalization due to insufficient cash flows and high development costs, raising concerns over the company's ability to continue operations without successful restructuring of debt obligations.

• Immediate financial risk due to water ingress problems at Granite Creek, impacting production rates and increasing operational costs which have led to a need to enhance de-watering processes.

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