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Eureka Today
By the People, for the People
i-80 Gold Secures $250 Million Financing, Fully Funds Nevada Development
Closes gold prepayment facility, completes recapitalization to advance five gold projects and processing plant
Mar. 24, 2026 at 10:38am
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i-80 Gold Corp. has closed a $150 million gold prepayment facility with an additional $100 million accordion feature, marking the final step in the company's recapitalization plan. Through a combination of financing arrangements, i-80 Gold has raised over $1 billion in capital, which is expected to fully fund the development of three underground gold projects, one open pit oxide project, and the refurbishment of the Lone Tree processing plant in Nevada.
Why it matters
The financing package allows i-80 Gold to advance its industry-leading project pipeline in Nevada, with the goal of increasing annual gold production from less than 50,000 ounces currently to a target range of 300,000 to 400,000 ounces by 2031. This positions the company as a mid-tier gold producer and provides the financial flexibility to optimize the development schedule.
The details
The $150 million gold prepayment facility with National Bank of Canada and Macquarie Bank Limited includes an accordion feature for an additional $100 million. This, combined with other financing arrangements, gives i-80 Gold over $1 billion in secured and available capital to advance Phase 1 and Phase 2 of its development plan. This includes three underground projects (Granite Creek, Archimedes and Cove) and one open pit oxide project (Granite Creek open pit), as well as refurbishing the Lone Tree processing plant.
- The initial $150 million from the gold prepayment facility was received at closing on March 24, 2026.
- The $100 million accordion feature can be accessed over a 24-month period from closing, with the company anticipating executing it in the first half of 2027.
The players
i-80 Gold Corp.
A Nevada-focused mining company committed to building a mid-tier gold producer through a new development plan to advance its high-quality asset portfolio.
National Bank of Canada
One of the lenders providing the $150 million gold prepayment facility to i-80 Gold.
Macquarie Bank Limited
One of the lenders providing the $150 million gold prepayment facility to i-80 Gold.
Richard Young
President & CEO of i-80 Gold.
What they’re saying
“We are pleased to announce the closing of the Gold Prepay Facility, marking the final step in achieving our recapitalization goals and a major turning point for i-80 Gold. We believe this significantly derisks the Company and positions us to fully finance our growth plans, financing five gold projects and the Lone Tree centralized autoclave processing facility. With the financing now complete, we are fully focused on executing on our industry-leading project pipeline in Nevada and delivering significant value to all our stakeholders.”
— Richard Young, President & CEO
What’s next
The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.
The takeaway
This financing package provides i-80 Gold the resources to advance its Nevada gold projects and processing facility, positioning the company to become a mid-tier gold producer and deliver significant value to shareholders through its industry-leading asset portfolio.
