i‑80 Gold Corp. (IAUX) has secured a $500 million financing package, comprising a $250 million royalty sale to Franco‑Nevada and a $250 million gold pre‑payment facility with National Bank and Macquarie. The deal is structured to close by the end of the first quarter of 2026, with the royalty component expected to be completed on or about March 17, 2026.
The capital will be deployed across the company’s Phase 1 and Phase 2 development plan, which targets an annual gold production increase to 300,000–400,000 ounces from the current sub‑50,000‑ounce level. Funds will also support the refurbishment of the Lone Tree autoclave, the construction of the Archimedes underground mine, and the expansion of the Granite Creek operation, all of which are critical to achieving the projected production scale.
Prior to the financing, i‑80 Gold reported a Q1 2025 revenue of $14.0 million and a net loss of $41.2 million, a widening from the $19.7 million loss in Q1 2024. The company’s profitability challenges and negative cash flow from operations underscored the need for a substantial capital infusion to retire existing convertible debt and shore up the balance sheet.
Richard Young, President and CEO, said the financing “provides a clear financial path to fully fund Phase 1 and Phase 2” and highlighted Franco‑Nevada’s partnership as a shared vision for building a Nevada‑focused mid‑tier gold producer. Franco‑Nevada’s President & CEO Paul Brink added that the partnership expands Franco‑Nevada’s U.S. portfolio and supports i‑80 Gold’s development plans.
i‑80 Gold controls an estimated 14 million ounces of gold in reserves and resources, including 6.5 million ounces in the measured and indicated category. The company’s strategy to become a mid‑tier producer in Nevada—a Tier‑1 mining jurisdiction—relies on this substantial resource base and the newly secured financing to accelerate development and achieve the targeted production growth.
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