i-80 Gold Corp. (NYSE: IAUX) reported its financial and operating results for the three months ended September 30, 2026. The company reported revenues of $32.7 million for the quarter, representing the sale of 7,744 ounces of gold at an average realized price of $4,211 per ounce. This compares to $32.0 million in revenue from 9,368 ounces sold at an average realized price of $3,412 per ounce in the prior year period.
Gold production for the quarter was 11,685 ounces, a marginal decrease from 12,428 ounces produced in the prior year. Gross profit for the quarter increased to $5.0 million from $3.1 million in the prior year, driven by the higher realized gold price. However, the company reported a net loss of $48.4 million, an increase from $41.9 million in the prior year period, attributed to higher pre-development, evaluation, and exploration costs associated with advancing multiple projects.
As of September 30, 2026, the company held $411.4 million in cash and cash equivalents, a decrease of $53.2 million from the previous quarter due to cash used in operations and capital expenditures.
In terms of development progress, i-80 Gold published a feasibility study for the Granite Creek underground project, declaring initial Mineral Reserves of 2.20 million tonnes grading 7.87 grams per tonne gold containing 556,500 ounces of gold. The Archimedes underground project is advancing on schedule, with surface and underground infrastructure completion targeted for early November 2026 to support the start of production mining by year-end. The refurbishment of the Lone Tree Plant is also on schedule, with bulk demolition activities complete and initial construction activities set to commence in the fourth quarter of 2026.
The company updated its development strategy to prioritize the Mineral Point open pit project as the next major development, targeting annual gold equivalent production of 400,000 to 500,000 ounces in the early 2030s. The company also noted that the anticipated timing of Mineral Point development has not changed from its March 2025 pre-feasibility economic assessment.
