Gold Rush 2.0: Artemis, i-80, and Desert Gold Make Big Moves
A Canadian gold producer has made a massive move to expand its long-term production base. Artemis Gold entered into a binding agreement to acquire Vista Gold for approximately USD 427 million, entirely in shares.
The deal values Vista at a 29% premium based on the 20-day average price prior to the announcement. The real treasure is Mt Todd in Australia's Northern Territory, which holds 9.1 million ounces of gold in the Measured and Indicated categories, plus an additional 1.4 million ounces in the Inferred category.
i-80 Gold is also making waves with a positive feasibility study for its Granite Creek underground mine in Nevada. The project is expected to produce 30,000 to 40,000 ounces of gold in 2026, and financial projections show a net present value (NPV5) of USD 118 million after taxes at a gold price of USD 2,750 per ounce.