i-80 Gold Corp. 8-K

What Happened

• i-80 Gold Corp. filed an 8‑K (Regulation FD disclosure and Other Events) reporting a Class 3 engineering study for refurbishment of its Lone Tree Plant in northern Nevada. The study estimates total project cost of about $430 million and outlines upgrades to convert the autoclave circuit to an acid POX circuit, add a filtered tailings system, upgrade mills and controls, and modernize mercury abatement and other infrastructure. The filing was dated December 23, 2025 (press release dated Dec 18, 2025) and the 8‑K was filed on December 29, 2025.
• The Plant is being positioned as a central processing hub for refractory material from i-80’s high-grade underground mines (Granite Creek, Archimedes, Cove). Design throughput: 2,268 tonnes per day (nameplate) and 827,806 tonnes annually based on 85% availability; bypassing the POX for oxide material could raise throughput 5–10%.

Key Details

• Total project cost estimate: $430 million (Direct + Indirect = $343M; Contingency ≈ $43M; Owner’s Cost $25M; Capital Spares $18M).
• Processing capacity: 2,268 t/day; annual throughput 827,806 t at 85% availability; POX bypass for oxide ore can add ~5–10% throughput.
• Major changes: conversion to acid-based POX (expect improved recoveries), addition of tailings filtration (higher water recovery, smaller footprint), new oxygen plant to be supplied under third‑party “over-the-fence” contract.
• Timeline highlights: Board approved limited notice to proceed for detailed engineering in Aug 2025; permitting applications planned Q1 2026; demolition expected Q2 2026; construction H2 2026; commissioning targeted Q4 2027.
• Study type and limits: This is an AACE Class 3 engineering study (cost analysis) and is not a NI 43‑101 technical report or a feasibility study.

Why It Matters

• The refurbishment would centralize processing for i-80’s nearby underground projects, potentially improving margins and recovery rates if the upgrades perform as planned. The filtered tailings and POX changes are positioned to meet stricter environmental standards and increase operational flexibility.
• Investors should note the estimate is higher than prior ~$400M guidance (company cites inflation, design details and added redundancy) and that major steps (permits, financing, final construction decision) remain outstanding. Because the filing is based on a Class 3 study and contains forward‑looking statements, costs, schedule and performance carry uncertainty until confirmed by permits, financing and higher‑level technical studies.