There’s no shortage of demand for gold. This precious metal has appreciated by over 55 percent over the past five years alone. So, what options do you have when it comes to investing in gold’s growth story? One of the best opportunities is investing in gold exploration, mining, and production companies.
And when it comes to gold, few regions compare to the perfect storm of conditions that exist in Nevada. From proven past-production, large yields, pro-mining regulations, and everything in between — Nevada continues to play a key role in the surging gold markets.
i-80 Gold (TSX:IAU,OTCQX:IAUCF) is Nevada’s newest and fastest-growing gold miner. The company holds a diverse portfolio of assets from exploration to production, offering investors a unique opportunity to stake a claim in multiple sectors of the gold industry through projects that operate in one of the safest mining jurisdictions in the world.
i-80 Gold’s location is primed for growth in exploration and production. After all, location is crucial to success in the industry, and Nevada was ranked by the Fraser Institute as the #1 most attractive gold-mining jurisdiction in the world.
Nevada is unrivalled in terms of combining mineral potential and the policy required to capitalize on it. i-80 Gold holds more than 5 million ounces of gold in reserves and resources in Nevada, with 350,000 ounces in proven and possible reserves, 2.6M measured and indicated resources and 2.3M ounces inferred resources. They have one producing mine and two permitted development-stage assets and significant resource upside, with all of their deposits open for expansion.
“South Arturo continues to deliver positive exploration success and mining results,” said Ewan Downie, Chief Executive Officer of i-80 Gold “2021 will be a pivotal year for the project as we incorporate the 2020 drill results into an updated reserve estimate and the joint venture progresses its work on the phase 3 trade-off study and planning for the development of the phase 1 open pit operation.”
The company is also in a fantastic financial position through the first half of 2021. A recent top-up subscription from Equinox Gold for around 5.4 million shares brought in over C$14 million for i-80 Gold, bringing their cash reserves up to C$65 million with no debt on record.
Furthermore, a combination of exploration and M&A has allowed i-80 to expand its resource base tenfold since entering the Nevada region in 2014. The company’s ability to grow and thrive in the competitive Nevada market speaks to the quality of its assets, as well as the strength of its management team.
Management at i-80 is made up of experienced leaders in several key areas, including exploration, mining, production M&A and industry-specific entrepreneurship. The company’s wide range of proficiencies in mining operations and business and track record of returning value to shareholders is why they have been able to grow their asset base and company so quickly.
i-80 Gold’s Company Highlights
- i-80 is Nevada’s newest and fastest-growing gold mining company that holds a diverse portfolio of assets, from exploration to production.
- Nevada was ranked by the Fraser Institute as the #1 gold mining jurisdiction in the world due to its combination of geology and development-friendly policy.
- A recent top-up subscription from Equinox Gold for 5.4 million shares brought in over $14 million for i-80, bringing their cash reserves up to $65 million with no debt.
- i-80 holds more than 5 million ounces of gold in reserves and resources in Nevada, with 350,000 ounces in proven and possible reserves, 2.6M measured and indicated resources and 2.3M ounces inferred resources.
- The company has one producing mine and two permitted development-stage assets, all with significant resource upside and expansion potential.
- i-80’s management team has decades of experience in exploration, mine operations, production, M&A and mining entrepreneurship.
- i-80 Gold is now a Nevada-focused growth company with the acquisition of the Ruby Hill Mine from Waterton Nevada Splitter and Waterton Nevada Splitter II and with the previously announced closing of the Lone Tree complex.
i-80 Gold’s Key Projects
South Arturo Mine
i-80 holds a 40 percent interest in the South Arturo Mine Property, located along the northern section of the productive Carlin Trend, in partnership with Nevada Gold Mines, a joint venture between Barrick Gold Corporation and Newmont Corporation. South Arturo includes both open-pit and underground mineral reserves and resources that remain open for expansion.
The El Niño underground mine at South Arturo achieved commercial production in the third quarter of 2019. Gold production in 2020 exceeded plans by 30 percent through a highly successful drilling program focused on expanding reserves and resources.
The partnership is currently advancing several additional potential development opportunities, including the phase 1, phase 3 and potential heap leach projects. An updated mineral reserve and mineral resource estimate is expected to be completed later on in 2021.
Granite Creek Property
i-80 holds a 100 percent interest in the Granite Creek Property located at the Intersection of the Getchell and Battle Mountain Trends. The Granite Creek Property will host both high-grade open-pit and underground mineral resources that remain open for expansion.
Mineral Resources at the Granite Creek Underground Mine
The underground mine on the Granite Creek Property is permitted and in care & maintenance with underground infrastructure in place to assist in expediting the development process. Granite Creek underground represents some of the highest grade, fully-permitted gold deposits in all of North America.
i-80 also holds 100 percent interest in the McCoy-Cove project, a large and underexplored land package of over 30,000 acres located on the Battle Mountain Trend, located near Nevada Gold Mines’ Phoenix operation.
With historical production totalling approximately 3.3 million ounces of gold and more than 100 million ounces of silver, the McCoy-Covey property hosts some of the highest-grade undeveloped gold deposits in all of Nevada.
A Preliminary Economic Assessment (PEA) for McCoy-Cove was completed in 2020 that indicates strong economics. Future work will include the construction of a decline to complete definition drilling from underground drill stations in advance of completing a full feasibility study.
i-80 Gold’s Management Team
Ewan Downie – CEO & Director
Ewan Downie is an accomplished company builder and entrepreneur with more than 25 years’ experience in the mining sector.
Downie served as founder, President & CEO of Premier and prior to this, founder President & CEO of Wolfden Resources Inc. Both companies enjoyed significant value appreciation following inception resulting in both being acquired with spinout vehicles to the benefit of shareholders.
In his extensive career Downie has participated in several gold and base metal discoveries and has been awarded accolades to reflect this success including the 2003 recipient of the Prospectors and Developers Association of Canada, Bill Dennis Prospector of The Year and several Exploration and Development acknowledgements from the Northwestern Ontario Prospectors Association.
Matthew Gili – President & COO
Matthew Gili is a professional mining engineer with experience spanning Chief Executive Officer, Chief Operating Officer, Chief Technical Officer and General Manager roles.
His deep technical experience includes previously serving as Executive General Manager for the Cortez District, leading one of Barrick’s top mining operations in Nevada. Following this Gili was promoted to Chief Technical Officer for Barrick Gold Corporation.
Additional operational experience includes roles with Rio Tinto as the Managing Director of the Palabora Mining Company in South Africa and Chief Operating Officer of Oyu Tolgoi in Mongolia. Most recently, as the Chief Executive Officer of Nevada Copper Corporation, Gili leveraged his broad experience in leading a publicly listed mining corporation.
Passionate about Safety & Environmental Stewardship Mr. Gili was previously Chairman of the Palabora Foundation, Chairman of Mongolian Safety Association (MISA) and is currently on the Management Advisory Board of the University of Nevada – Mackay School of Earth Sciences and Engineering.
Matt Gollat – Executive Vice President of Business & Corporate Development
Matthew Gollat is an accomplished executive with more than 12 years public company experience in many aspects of the mine development cycle.
Prior to i-80, Mr. Gollat held the position of Vice-President Business Development at Premier Gold Mines limited and participated in multiple corporate and strategic development projects including the friendly acquisition of Premier Gold Mines, the spin out of i-80 Gold Corp and the earlier creation of Premier Royalty Corp.
Gollat holds an Honours Bachelor of Commerce degree from Lakehead University and completed the Certificate of Mining Studies Program through the University of British Columbia. He currently serves as an independent director for Nomad Royalty Company Ltd.
Ryan Snow – CFO
Ryan Snow is a mining finance professional with over 15 years of experience in financial management and reporting in both Canada and the United States (IFRS and US GAAP), internal controls, M&A, risk management and taxation.
Prior to joining i-80 Gold Snow served most recently as Vice-President of Finance for Nevada Copper, where he helped to secure project financing and restructure debt during the construction and production ramp up of the Pumpkin Hollow mine.
Snow was the Vice-President, Finance and Controller for Tahoe Resources during which time he oversaw the financial aspects of the Sarbanes-Oxley implementation, two business acquisitions and progressed the Escobal mine in Guatemala and the Shahuindo Mine in Peru through construction to commercial production.
He began his professional career at Hecla Mining Company and holds a B.B.A. in Accounting (with distinction) from Gonzaga University.
Brent Kristof — Executive Vice-President Projects & Evaluations
Brent Kristof is a professional engineer with 40 years of leadership and team-building successes in technical, operations, maintenance, and business improvement in underground and surface mines and projects in Canada, the United States, Australia, Papua New Guinea, and Mexico.
Kristof was formerly the Senior Vice-President, Operations for Premier Gold Mines, responsible for operations and project development in Mexico and Nevada. Prior to i-80 and Premier, Brent was the Chief Operating Officer for Klondex Mines, part of the executive team that created and grew the junior gold producer.
He has significant experience in Nevada, including 5 years as General Manager for Barrick at the Turquoise Ridge Mine located immediately north of the i-80’s Getchell Project and 8 years as a General Manager for Newmont at the Midas and Deep Post Mines, as well as the Holloway and Golden Giant Mines in Ontario.
While in Canada, Brent represented Newmont on the Ontario Mining Association and while with Noranda he was Co-Chair of the Minister’s National Advisory Council to CANMET (the Canada Centre for Mineral & Energy Technology).
Brent earned his Bachelor of Science Degree in Geological Engineering from the University of Manitoba and is a graduate of the University of Toronto Executive Programs in Management.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with i-80 Gold and seek advice from a qualified investment advisor.
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