i-80 Gold Corp.'s Q2 Earnings Disappoint Amid Progress in Nevada Projects

i-80 Gold Corp., which trades on the NYSEMKT under the ticker IAUX, has reported its second quarter earnings for 2026. The company's revenue came in at $24.3 million, down from $27.8 million in the same period last year. This decline was largely due to lower gold sales at Granite Creek, caused by third-party processing delays.

Despite this setback, i-80 Gold's gold production increased to 11,098 ounces, up from 4,178 ounces in the prior year period. The company's realized gold price also rose to $4,522 per ounce, compared to $3,301 per ounce last year. However, these gains were not enough to offset higher predevelopment, evaluation, and exploration costs.

The company reported a net loss of $52.5 million for the quarter, or $0.06 per share, which is more than double its net loss from the same period in 2025. Adjusted net loss came in at $41.2 million. i-80 Gold's cash and cash equivalents stood at $464.6 million as of June 30, 2026, supported by a recapitalization in the first quarter.

i-80 Gold is making progress on its Nevada-focused development projects, including Granite Creek and the Archimedes Project. The company expects to complete feasibility studies for these projects in the third quarter of this year. Archimedes' first gold mining is targeted for the fourth quarter of 2026, while Granite Creek's refurbishment commitments total $110.1 million, with approximately 40% of project capital committed as of mid-July.

Looking ahead to 2028, i-80 Gold aims to achieve annual gold output of between 150,000 and 200,000 ounces, up from approximately 50,000 ounces this year. The company expects its cash margins to improve by $1,000 to $1,500 per ounce upon transitioning from toll milling to owner processing in 2028.

Richard S. Young, President and CEO of i-80 Gold, said that owner processing at Lone Tree 'will improve our cash margins by between $1 thousand and $1.5 thousand per ounce.' He added that the company is focused on executing against its development plan and encouraged by the progress made in the second quarter.