i-80 Gold Corp. reported its operating and financial results for the second quarter ended June 30, 2025, demonstrating a significant increase in revenue to $27.836 million, up from $7.184 million in Q2 2024. The company's net loss narrowed to $30.215 million, an improvement from a $41.005 million loss in the prior-year period, with a loss per share of $0.05.
A major turning point for the company's liquidity was the equity financing completed in May 2025, which raised $185.5 million in gross proceeds, resulting in cash and cash equivalents surging to $133.691 million as of June 30, 2025, compared to $47.812 million in Q2 2024. These funds are enabling the advancement of key development initiatives across the company's five gold projects and the Lone Tree autoclave refurbishment study.
Operationally, mining activities at Granite Creek Underground exceeded prior-year levels, with infill drilling of the South Pacific Zone commencing in June 2025. At Archimedes Underground, surface infrastructure is complete, and initial development of the underground exploration drift is anticipated in Q3 2025, with permitting for mining above the 5100-foot level nearing completion. The company also expects an updated mineral resource estimate for Cove in Q3 2025 and is progressing the Lone Tree autoclave feasibility study.
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