I-80 Gold has a Fifteen Million Ounce Gold Resource in Nevada
Bob Moriarty
Archives
Nov 8, 2021
The general stock market is about to crash. In the last forty years theS&P has never gone up sixteen out of eighteen days.
Never.
It is the most overbought in history and when it tumbles you will be able to hear it on Mars.
Gold is the anti-Tesla, anti-Bitcon, anti-S&P investment. As long as they went up, gold and resources stocks went down even as the commodity markets hit new high levels against gold.
All things change.
I-80 Gold (IAU-T) was created in a spinout of the Nevada gold projects from theEquinox Gold takeover of Premier Gold Mines. Equinox got thirty percent of the shares of I-80 in the deal.
I-80 has completed the takeover of the three major assets in the deal, the Ruby Hill Mine, the Lone Tree Mine and the Buffalo Mountain deposits. In addition they bought the Lone Tree autoclave leaving them one of only three companies in Nevada capable of processing refractory sulphides ore. The autoclave is being refurbished. Until it is back on line, I-80 has an agreement withNevada Gold Minesto use their autoclave.
After the spinout was complete I-80 went to Waterton Global and purchased the Getchell Gold Mine for $50 million in cash and shares. They now call it the Granite Creek mine. A PEA is due at any time. I-80 expects small-scale production to begin in 2022. Full production from both the underground and the open pit will commence in 2024. The company expects production of 175,000 ounces a year of gold by 2027. I-80 is in the process of drilling a 20,000-meter program with results continuing to come out on a continuous basis.
In addition to the projects 100% controlled by I-80, they own 40% of the now operating Auturo gold mine with their 60% partner NGM, the JV between Barrick and Newmont to operate their Nevada assets.
I-80 is especially strong in management being led by CEOEwan Downiewho brought with him important members of his team from Premier. Downie was the winner of the 2003 Prospector of the Year from PDAC among a slew of other professional awards in his career. I-80 snatched Matt Gili from Nevada Copper where he was CEO. Matt Gili will be President and COO of I-80. Gili was previously COO of the massiveOyu Tolgoi Minein Mongolia for Rio Tinto.
The management team is nothing short of brilliant and while based on the price today, I-80 is a junior, by the time they put all their ducks in a row they expect to be a 500,000 ounce a year producer with AISC costs of somewhere in the $1150 an ounce range. Their existing resource base is about 14.7 million ounces giving them an incredibly low $48 CAD per ounce.
I-80 is cheap today. It is led by excellent management and is perfectly positioned to surf the wave as the price of gold goes much higher. They are in the number one jurisdiction for mining in the world and have the highest grade gold mines for both open pit and underground.
I-80 is an advertiser and as such that makes me biased. Do your own due diligence. I share neither your profits nor your losses.
I-80 Gold Corp
IAU-V $3.07 (Nov 08, 2021)
IAUCF-OTCQX 233 million shares
I-80 Goldwebsite
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Bob Moriarty
President: 321gold
Archives
321gold Ltd