RE:RE:i-80 Gold Reports Q4 and Full Year 2023Canaccord said they delivered a miss:
"Q4/23 operating and financial results summary
• Cash burn was higher this quarter, primarily driven by the $10M in contingent payments, in addition to $4.3M in principal payments on the Gold Prepay agreement, and capital expenditures on mine development at Granite Creek of $4.2M.
• Adj. EPS of -$0.12 fell outside -$0.10 estimate (consensus of - $0.05). EBITDA loss of -$12M vs. our -$15M estimate.
• Gold sales of 3.4koz fell below our 5.2koz estimate, driven by lower-than-expected residual leaching production from Ruby Hill and Lone Tree. We note i-80 did not report cash costs or AISC and that current production is driven by relatively immaterial residual leach activities.
• i-80 closed the quarter with a cash balance of $16.3M (down $21.4M q/q), $148M in debt, and has $44M in restricted cash."