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i-80 Gold Corp. (IAUX-0.65%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes details on the company's mineral properties, which are primarily located in Nevada. These include the Granite Creek, Ruby Hill, Lone Tree, Cove, and FAD projects.
The company reported total revenue of $50.3 million for 2024, down from $54.9 million in the previous year. This decrease is attributed to lower volumes sold, partially offset by a higher average realized gold price.
Net loss for the year was $121.5 million, compared to a net loss of $89.7 million in 2023. The loss per share was $0.34, slightly higher than the $0.33 loss per share in the previous year.
Cash used in operating activities increased to $82.5 million from $77.5 million in 2023, primarily due to lower production from the company's projects.
The company ended the year with $19.0 million in cash and cash equivalents, an increase of $2.7 million from the end of 2023, due to cash provided by financing activities.
i-80 Gold Corp. announced a new development plan in November 2024, focusing on the development of three underground mines and the acceleration of two large oxide open pit deposits.
The company initiated a recapitalization plan to address short-term commitments and restructure existing debt obligations. This included deferring gold and silver deliveries originally scheduled for the end of 2024 and early 2025.
The company's mineral resource estimates for its properties were updated, with significant changes due to new resource estimates and drilling results.
The filing also details the company's transition from IFRS to US GAAP, effective January 1, 2025, and the impact of this transition on its financial statements.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the i-80 Gold Corp. annual 10-K report dated April 1, 2025. To report an error, please email earnings@qz.com.