i-80 Gold reports Q3 2026 results and expects Archimedes mining to start by year-end

what happened

i-80 Gold (NYSE: IAUX) released its results for the three and nine months ended September 30, 2026. Revenue reached $32.7 million from 7,744 ounces of gold sold at an average realized price of $4,211 per ounce. A year earlier revenue was $32.0 million, with an average price of $3,412. Gold output was slightly lower at 11,685 ounces, compared with 12,428 ounces.

The net loss grew to $48.4 million from $41.9 million, mainly because of higher pre-development and exploration spending, largely drilling at Ruby Hill. After the Granite Creek feasibility study, the company will capitalize some qualifying development costs there. It also said production mining at Archimedes is still planned before the end of 2026, and the Lone Tree Plant refurbishment is tracking its original schedule.

why it matters

For gold markets, the key point is the company's shift toward a hub-and-spoke model with a central processing plant, which management expects to lower costs. Cash fell by $53.2 million during the quarter, so further project starts will depend on tight cost control.

market impact

Gold miners: higher realized price lifted revenue, but rising exploration costs pressure profits

tags

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