The annual gold sales stood at 21,527 ounces at an average realized gold price of $2,332 per ounce.
SEATTLE (Scrap Monster): The operating and financial results for the fourth quarter and the entire year ended December 31, 2024, were released by i-80 Gold Corp.
In Q4 of previous year, the company's total sales was $23.2 million. This is in contrast to $25.8 million in the same period last year. Compared to the loss of $0.12 per share in Q4 2023, the quarter's loss per share was $0.04 per share. $9.2 million in cash was used for operating activities. As of December 31, 2024, the company's cash balance was $19.0 million.
Revenues for 2024 as a whole were $50.3 million, up from $54.9 million in 2023. From a loss per share of $0.33 in 2023 to $0.34 in 2024, the loss per share increased.
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At an average realized gold price of $2,560 per ounce in Q4, 9,053 ounces of gold were sold during the quarter. At an average realized gold price of $2,332 per ounce, the yearly sales of gold were 21,527 ounces.
In 2025, the company anticipates producing 30,000 to 40,000 ounces of gold. It is anticipated that Granite Creek underground will yield between 20,000 and 30,000 ounces of gold.
The business created a new development plan and started the process of releasing updated preliminary economic assessments for each of its five gold properties, according to Richard Young, CEO of i-80 Gold Corp.
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