National Bank 10:00 AM EDT, 03/15/2023 (MT Newswires) -- National Bank of Canada on Wednesday ascribed a neutral bias on i-80 Gold Corp. (IAU.TO)'s results in the fourth quarter of 2022, citing modest production and in-line spending quarter over quarter.
The bank said said there were "no surprises" on i-80 Gold's financials, which included $48 million in cash and equivalents, down from $76 million in the previous quarter.
Production was 6,800 ounces at all-in sustaining costs, or AISC, of $1,137 per ounce, compared to 9,300 ounces at AISC of $1,138 per ounce.
"Impressive costs, particularly for the modest production amount," the bank said.
National Bank gave i-80 an outperform rating with a $5.50 price target.