U.S. miner i-80 Gold has announced the signing of definitive agreements in relation with the previously disclosed financing package for a total of US$135 million, and an option to potentially access a fur-ther US$100 million.
“The Financing Package, when combined with the recent equity financ-ing completed by the Company, will place i-80 in a robust financial posi-tion to proceed with the aggressive advancement of its substantial asset portfolio detailed further below. Following completion of the Financing Package, the Company expects to have approximately $200 million in its treasury,” the business said in a statement.
Ryan Snow, the chief financial officer of i-80, said that with “multi-million ounce gold and silver resources, and our enviable treasury position, we now pursue our objective to be one of the mining industry’s fastest grow-ing producers”.
The secured funds “will position i-80 to aggressively pursue the develop-ment of the Company’s portfolio of advanced-stage deposits, all located in Nevada,” he said.