i-80 Gold Reports Second Quarter 2026 Results; On Track to Achieve Full-Year Guidance as Granite Creek Ramps Up and Development Plan Advances

i-80 Gold Corp. reported second-quarter 2026 results showing gold production of 11,098 oz, a 166% year-over-year increase from 4,178 oz. However, the company sold only 5,335 oz, a 36% decline from 8,400 oz in the prior year, due to delays at a third-party processing facility. Revenue came in at $24.3 million, down from $27.8 million a year ago, based on a realized price of $4,522 per ounce.

Gross profit rose to $8.6 million from $0.8 million, but the net loss widened to $52.5 million, driven by high pre-development and exploration costs. The company reaffirmed its full-year guidance and noted that the Archimedes project remains on schedule for first gold in the fourth quarter of 2026, with major construction at Lone Tree also starting in Q4 2026.

The feasibility study for the Cove project is now expected in the third quarter of 2026, a delay from the previously scheduled second quarter. Similarly, the feasibility study for Granite Creek has slipped to Q3. Cash stood at $464.6 million, and the recapitalized balance sheet is fully funded.

i-80 Gold Corp. (IAU) reported a second-quarter result that exceeded expectations given the low baseline, maintaining full-year guidance and confirming critical timelines for the Archimedes and Lone Tree projects. The company’s gold sales declined sequentially from 10,590 ounces in the first quarter to 5,335 ounces in the second quarter, a drop attributed to third-party processing constraints.

Prior to the release, the market had already priced in a recovery in the stock price from $1.76 in mid-July to $2.37, suggesting the news was largely anticipated. The company reported a net loss and operating cash burn of $49.6 million, figures consistent with expectations for a developer. i-80 Gold holds a cash position of $464.6 million, which eliminates immediate dilution risk. There were no guidance revisions, impairments, or operational setbacks reported.

i-80 Gold Corp. is a Nevada-focused gold developer operating the Granite Creek Underground mine and heap-leach remnants, while advancing three other underground deposits (Archimedes, Cove) and two large open-pit projects (Granite Creek Open Pit, Mineral Point). The cornerstone of its hub-and-spoke strategy is the refurbishment of the Lone Tree autoclave-CIL plant, which will process all refractory and oxide ore. The three-phase plan targets 150-200 koz/year by 2028, rising to >600 koz/year in the early 2030s. All assets are in Nevada, a Tier-1 jurisdiction.