PRECIOUS METALS

i-80's hub-and-spoke plan starts to roll

TSX-listed gold company's shares hit record price

Nathan Richardson
i-80's hub-and-spoke plan starts to roll

The company's share price has hit a record high. 

"After less than a year in existence, we have produced our first gold from ongoing residual leach projects. We continue to execute the development of several projects within our portfolio as planned, with the goal of becoming a significant operator in the State of Nevada," i-80's executive vice president Matthew Gollat said. 

The milestone for the company - which has a market capitalisation of C$850.24 million (US$663.22) - followed two weeks of strong gains to its share price. 

From February 25 to March 9, the stock rose from C$2.67/share to C$3.55/share. The March 9 price was the highest i-80 had seen since listing on the TSX in April last year. 

The company, spun out of Premier Gold Mines following the latter's acquisition by Equinox Gold, is using the Lone Tree processing complex as the hub in its Nevada-based hub and spoke model.

Mineralisation from Granite Creek, Ruby Hill, and McCoy-Cove are to feed the Lone Tree autoclave, and mineralisation from the Brooks and Buffalo Mountain open pit will be processed at the Lone Tree heap-leach facility. 

"Current gold production is the result of leaching existing heap-leach pads. The nearby Brooks and Buffalo Mountain mining operations are currently being advanced, with material to be trucked to the Lone Tree leach pad," i-80 said. 

"Mining of the Brooks deposit is anticipated to commence in the second half of 2022," the company added. 

The company's goal is to ultimately produce more than 500,000 ounces of gold annually.

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.