i-80 Gold Corp. produced 11,098 ounces of gold during the second quarter of 2026, up from 4,178 ounces a year earlier as the Granite Creek underground project ramped up.

Revenues for the period reached $24.3 million from 5,335 ounces sold at an average realized price of $4,522 per ounce, compared with $27.8 million from 8,400 ounces sold at $3,301 per ounce in Q2 2025. Lower sales volume stemmed from processing constraints at a third-party toll milling facility, leaving over 5,300 recoverable ounces in-process at quarter-end. Gross profit rose to $8.6 million from $0.8 million, aided by higher gold prices.

Net loss widened to $52.5 million from $30.2 million, driven by higher pre-development and exploration expenses at Ruby Hill. Cash and cash equivalents totaled $464.6 million as of June 30, 2026.

Underground development at Nevada's Granite Creek mine progressed ahead of schedule, increasing high-grade access despite temporary ground restrictions that have since been remediated. The project remains on track to meet full-year guidance, with a feasibility study due in the third quarter of 2026.

“We delivered another solid quarter, with increased production from Granite Creek as the project continued to ramp up on plan, the advancement of Archimedes on schedule toward becoming our second underground mine, and the start of demolition at the Lone Tree Plant,”

— Richard Young, President & CEO

At Ruby Hill, the Archimedes underground project advanced on schedule for first gold mining in the fourth quarter of 2026. Its feasibility study was deferred to mid-2027 due to slower infill drilling progress from contractor staffing constraints.

Refurbishment advanced at the Lone Tree Plant, with demolition starting in mid-June ahead of major construction in Q4 2026. The facility anchors the company's hub-and-spoke strategy to process material from Granite Creek, Archimedes, and Cove following a planned transition from toll milling to owner-operated processing.

To streamline its commercial structure, i-80 Gold entered into a settlement agreement in June 2026 to terminate its gold offtake agreement with Vox Royalty, eliminating its fixed obligation to deliver up to 40,000 ounces of gold per year through 2028.

Read the full announcement: i-80 Gold Reports Second Quarter 2026 Results; On Track to Achieve Full-Year Guidance as Granite Creek Ramps Up and Development Plan Advances