i-80 Gold Provides Update on Lone Tree Plant Refurbishment; Project Remains on Schedule and on Budget
i-80’s Lone Tree refurbishment remains on track but faces two years to gold production, with near-term cash burn and feasibility delays weighing on the project.
i-80 Gold Corp. (IAU) reports that the refurbishment of its Lone Tree processing plant in Nevada remains on schedule and on budget. Demolition of existing plant components commenced in mid-June 2026 and is expected to continue into the fourth quarter of 2026. Major construction is scheduled to begin in Q4-2026, with the first gold pour targeted for year-end 2027.
The total capital cost estimate remains unchanged at $430 million, inclusive of approximately 12% contingency, owner’s costs, and capital spares. Expenditures incurred to date are in line with the December 2025 engineering study and the 2026 guidance of $140–160 million. Approximately 50% of procurement packages by value have been awarded, and detailed engineering is approximately 30% complete.
The plant is designed to process approximately 2,250 tpd (825,000 tpa) with integrated Pressure Oxidation and CIL circuits. Normal-course permitting applications were submitted in Q1-2026; several permits have been received, with additional approvals expected in the second half of 2026.
i-80 Gold Corp. (IAU) released a status update on July 28, providing no new production, cost, or financial figures. All key metrics, including capital expenditure, schedule, and capacity, remain unchanged from the December 2025 engineering study and the Q1 2026 earnings discussion.
The company’s stock has trended lower since early June, falling from approximately $2.20 to $1.90. This decline reflects broader gold equity weakness and likely concerns over feasibility delays rather than issues with the Lone Tree project. The market had already priced in the end-2027 timeline and the $430 million budget, resulting in no beat or miss versus expectations.
i-80 Gold Corp. (IAU) is a Nevada-focused gold developer and producer that owns 100% of the Granite Creek, Ruby Hill (Archimedes and Mineral Point), Cove, and Lone Tree properties. The company’s development strategy employs a hub-and-spoke model, where three underground mines—Granite Creek, Archimedes, and Cove—along with open-pit opportunities, feed the centrally located Lone Tree autoclave/CIL plant.
Current production stands at approximately 30-40 koz/year from Granite Creek via toll-milling, supplemented by residual heap leach. The company’s phased production targets include a Phase-1 goal of 150-200 koz Au/year in 2028-2029, followed by Phase-2 production of 300-400 koz in 2030-2031. Phase-3, targeting 600 koz+ from 2032 onward, relies on the giant Mineral Point open pit.