i-80 Gold Posts $11.5M Gross Profit, Raises $500M for Archimedes and Lone Tree
i-80 Gold posted an $11.5M gross profit on almost 32,000 ounces produced, reversing a 2024 loss while netting a $200M loss from high exploration costs. The company raised $500M to fund Archimedes underground mine construction and a $430M Lone Tree autoclave restart despite processing and dewatering delays at Granite Creek.
1. 2025 Production and Financial Turnaround
i-80 Gold achieved a consolidated output of nearly 32,000 ounces in 2025, generating an $11.5M gross profit and reversing the prior year's gross loss. Elevated exploration, evaluation and pre-development expenditures led to a net loss of approximately $200M.
2. $500M Financing Package for Growth
The company secured a $500M financing package to advance its development pipeline without balance sheet constraints. Funds are earmarked for Archimedes underground mine construction, the $430M Lone Tree autoclave restart and related engineering studies.
3. Operational Challenges at Granite Creek
Operational hurdles include timing delays with processing of sulfide material and the need for expanded dewatering infrastructure at Granite Creek to manage water impacts, which have affected project timelines and costs.
4. 2026 Development and Permitting Outlook
i-80 Gold plans to leverage higher gold prices and the new financing to expedite technical work and permitting at Mineral Point, while preparing for its Lone Tree process plant refurbishment and increased production capacity.