i‑80 Gold Corp. closed a $250 million gold prepayment facility with the National Bank of Canada and Macquarie Bank, providing an initial advance of $150 million and a $100 million accordion feature that can be drawn in the first half of 2027.
The facility is the final component of a recapitalization that has raised more than $1 billion since early 2025. The capital will fully fund Phase 1 and Phase 2 of the company’s development plan, which includes advancing the Granite Creek, Archimedes and Cove underground projects and refurbishing the Lone Tree processing plant.
Richard Young, President and CEO, said, “We are pleased to announce the closing of the Gold Prepay Facility, marking the final step in achieving our recapitalization goals and a major turning point for i‑80 Gold.” He added, “We believe this significantly derisks the Company and positions us to fully finance our growth plans, financing five gold projects and the Lone Tree centralized autoclave processing facility. With the financing now complete, we are fully focused on executing on our industry‑leading project pipeline in Nevada and delivering significant value to all our stakeholders.”
The company’s Q4 2025 results showed revenue of $21.3 million, down 8.35 % year‑over‑year, and a net loss of $71.9 million. Full‑year 2025 revenue reached $95.2 million, an 89 % increase from the prior year, underscoring the growth trajectory that the new financing is designed to accelerate.
The recapitalization also supports a $350 million to $400 million senior debt facility that is expected to close by mid‑2026, reducing funding risk and enabling the company to pursue its target of 300 000 to 400 000 ounces of gold per year by 2031. The Lone Tree refurbishment, estimated at $430 million, will serve as a central processing hub for the company’s Nevada projects, while projected EBITDA of $200 million to $400 million in 2028 is based on a gold price of $3,000 per ounce.
With the prepayment facility in place, i‑80 Gold has completed its recapitalization, de‑risking its balance sheet and positioning itself to transition from fundraising to execution. The company’s focus now shifts to accelerating production ramp‑up and delivering on its mid‑tier producer ambitions.
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