I-80 Gold Corp T.IAU

Alternate Symbol(s): IAUX | T.IAU.WT

Metals & Mining Gold

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.

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I-80 Gold Corp > Sounds like a deal is very close

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Comment by AlwaysLong683on Jul 18, 2024 10:56am

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Post# 36138368

RE:RE:RE:RE:RE:RE:RE:Sounds like a deal is very close

It appears the non-binding term sheet IAU signed as announced on November 7 in a planned JV re. the Ruby Hill Property has expired without a deal being reached.

The term sheet granted the potential partner exclusivity for a period of 120-days (approx. March 7) subject to extension for an additional 60-day period (approx. May 7), in order to complete metallurgical due diligence and negotiate definitive documents.

On February 7, approximately 90 days after the potential JV press release, IAU announced an $18M private placement @$1.80 per share.

On April 8, approximately150 days after the non-binding term sheet was signed, IAU announced a further $86M equity raise, this time in bought deal form, at a price of $1.65 per unit, with each unit consisting of 1 common share and 1/2 warrant with a strike price of $2.15 per warrant for a period of two years.

It's now been two-and-a-half months since the expiry of that tentative JV deal and it appears there has been nothing new to announce in this regard. Maybe IAU has something cooking, but the $86M raise on April 8 makes one suspect they didn't anticipate any consummated JV agreement materializing anytime soon.

I doubt IAU's share price will move much higher until a JV deal with some party is finalized, depending on the terms of the deal.

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