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I-80 Gold Corp T.IAU

Alternate Symbol(s):  IAUX | T.IAU.WT

i-80 Gold Corp. is a mining company. The Company is a gold and silver producer engaged in the exploration, development and production of gold, silver mineral and poly-metallic deposits. Its operations include Lone Tree, Ruby Hill, Granite Creek and McCoy-Cove. The Company owns a 100% interest in the Lone Tree and Buffalo Mountain gold deposits and Lone Tree processing complex (collectively, the Lone Tree Project). The total land package of the Lone Tree property consists of approximately 12,000 acres. The Ruby Hill Project is an advanced-stage development project with residual heap leach production, located within the Battle Mountain-Eureka Trend. It owns a 100% interest in the Granite Creek gold project located at the intersection of the Getchell gold belt and the Battle Mountain-Eureka Trend in Humboldt County, Nevada. It owns a 100% interest in the McCoy-Cove project. It holds a 100% interest in the FAD project located along the Battle Mountain-Eureka Trend in Eureka County, Nevada.


TSX:IAU - Post by User

Comment by AlwaysLong683on Mar 08, 2023 7:32pm
119 Views
Post# 35327146

RE:RE:Well there it is

RE:RE:Well there it is1) If you want underwriters to take that many shares off your hands, you will have to give them a discount enticing enough to do so. It's a negotiation. The underwriters need to make enough money off the deal that would satisfy them as they attempt to sell the shares they purchased from EQX to other buyers. This transaction involves an outright purchase of IAU shares by the underwriters where EQX pockets the proceeds - it's not an attempt to sell the IAU shares on a "best efforts" basis.

2) EQX doesn't disclose the underwriters in the press release, so good question.

3) EQX still owns just under 20% of the company. They are still long a boatload of shares. Why would they wish to help shorters....?

4) Can you provide a link where you discovered why EQX needed the money, because they didn't state it in their press release. In my experience, if it's an equity raise by a company where they issue new shares in their own firm, they usually present a reason why right in the press release (usually a generic explanation like further exploration and development) as existing shareholders want to know the reason for the dilution. However, if a company like EQX sells some / ,most / all shares of another company they own as an asset, there usually isn't even a press release that goes out announcing it - you find out after the fact in the notes of the next quarterly financial statements. I suspect EQX had to issue a PR disclosing this transaction because they (were) an insider entity.


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