i-80 GOLD  (TSX: IAU)

Announced the results of Metallurgical work completed by Blue Coast Research on samples from the company’s Ruby Hill and Golden Hill  Projects located in Eureka County and along the southeastern end of the Battle Mountain / Eureka gold trend in Nevada.

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I-80 Gold Corp. mine portal

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i-80 Gold Provides Positive Metallurgical Results from Ruby Hill and Golden Hill

Mining Review 4th February 2024

The week was once again all about the FED and US interest rates, with positive economic data suggesting a March rate cut was unlikely, causing markets and gold to pull back.

Cabral Gold, i-80 Gold, and Orla Mining all reported strong drilling results this week. 

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i-80 Gold – Ruby Hill, Nevada

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City Investors Circle Mining Review 4th February 2024

The week was once again all about the FED and US interest rates, with positive economic data suggesting a March rate cut was unlikely, causing markets and gold to pull back.

Gold remained above the key $2,000 level despite the hawkish interest rate comments. This was probably helped by the US announced intention to bomb targets in the Middle East, which eventually occurred on Friday night, after days of announcing their intention to do so.

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Turning to companies on our watchlists, there were some positive drill results from Cabral Gold, i-80 Gold, and Orla Mining reported during the week.

One disappointment was the results from Gold Road Resources  where production for the year was at the low end of guidance, and AISC higher. This resulted in a share pullback, and a share that was trading at just above A$2 on the 29th December is now back at A$1.51!

This is really disappointing after waiting so long for GOR to break through the A$2 resistance level, and one reason why I was opposed to them commencing dividend payments.

The guidance for 2024 is around the same so despite such as strong gold price the share price looks as though it will settle down at this lower level once again, and it’s incredibly disappointing.

On the plus side, despite paying the dividend they have a strong treasury and significant investments in IGO and De Grey, amongst others, so the company looks healthy moving forward.

All the news form the last week for our watchlist companies is listed below, click the links to be taken to the full story.

Market Data

Weekly Price Changes

(US$ unless stated)

Metal Prices

.

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

i-80 GOLD (TSX: IAU / NYSE: IAUX)

Announced high-grade results from the 2023 drill program completed at the FAD deposit situated on the Company’s 100%-owned Ruby Hill Property,Eureka County, Nevada, including 9.0 G/T AU, 92.4 G/T AG, 12.2 % ZN & 1.0 % PB over 14.6 M.

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i-80 Gold Ruby Hill Mine, Nevada, USA

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Mining Review 28th January 2024

We initiated coverage of exploration junior Angus Gold this week.

Impact Minerals, Calidus Resources, i-80 Gold, and Orla Mining all announced significant exploration successes this week.

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Ruby Hill, Nevada

City Investors Circle Mining Review 24th January 2024

We initiated coverage of exploration junior Angus Gold this week.

Impact Minerals, Calidus Resources, i-80 Gold, and Orla Mining all announced significant exploration successes, after a quiet week following the Vancouver conference last week.

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The price of some battery metals, most notably lithium, remains very week, and I remain sceptical of the EV take up in the longer term due to cost of vehicles, range concern, and lack of esential charging infrastructure across the western world.News that Avis in the USA has sold 20,000 EV models and replaced them with the same number of petrol engined vehicles in an example of resistance to change, or a lack of popularity amongst their customers.

Tesla has been reducing prices in the US and China, as have BYD and Ford amongst other EV producers, and it does seem that after the rush of early adopters, there is some difficulty in selling to the next level of consumers.

It will be interesting to see how car producers overcome this, the cost of batteries curtails thir ability to reduce prices much more, despite the 755 fall in the price of lithium on the last year.

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i-80 GOLD CORP. (TSX: IAU)

Reported positive results from ongoing drilling at the Company’s 100%-owned Ruby Hill Property located in Eureka County, Nevada.

 The results continue to demonstrate significant potential to expand high-grade polymetallic mineralization in the Hilltop fault structure and within the Hilltop Corridor.

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i-80 Gold Ruby Hill Mine, Nevada, USA

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i-80 GOLD CORP. (TSX: IAU)

Announced positive results from ongoing underground drilling at the Company’s 100%-owned McCoy-Cove Property located in Lander County, Nevada.

The new results are from definition drilling in the CSD/Gap Zone and initial drilling in the Helen Zone that continue to confirm continuity of high-grade mineralization in both horizons.

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i-80 Gold Cove Portal

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 i-80 GOLD CORP. (TSX: IAU)

Announced that it has entered into a non-binding term sheet in connection with a potential joint venture with an arm’s length third party pursuant to which such potential partner will acquire a minority interest in the Company’s Ruby Hill Property located in Eureka County, Nevada.

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i-80 Gold Ruby Hill Mine, Nevada, USA

i-80 Gold Signs Non-Binding Term Sheet for the Joint Venture of the Ruby Hill Property

07/11/2023 11:00am

Mining Review 5th November 2023

Gold popped back up close to the US$2,000 level, on fear of a rout in bonds.

Ascot Resources reported a high grade gold intercept, the best for 8 years near their Premier Mine, i-80 Gold reported operating results, Eloro completed some metallurgical testing, and Calidus and SQM started exploring for lithium at Tabba Tabba.

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City Investors Circle Mining Review 5th November 2023

Gold popped back up close to the US$2,000 level, on fear of a rout in the bond market, where holders are selling long dated bonds with low coupons in favour of newly issued ones at much higher rates.

This has implications for the world’s financial systems, and may not end well if this continues.

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Ascot Resources reported a high grade gold intercept, the best for 8 years near their Premier Mine, i-80 Gold reported operating results, Eloro completed some metallurgical testing, and Calidus and SQM started exploring for lithium at Tabba Tabba.

It does look as though the junior miners have bottomed, with most I follow rising this week. tax loss selling normally starts around now, so we will see in the coming weeks if this has occurred early this year or not.

News from our watchlist companies is below, please click on the link to be taken to the full story.

  Ascot Resources Drilled 692 g/t Gold Over 0.9 M

  i-80 Gold Reported Q3 2023 Operating Results

  Calidus Resources -SQM lithium JV explores Tabba Tabba Shear

  Eloro Resources Completes Metallurgical Holes

  Monthly Market Review Published for October 2023

  Minera Alamos Closed the Cerro de Oro Funding Package

  Mining Review 29th October 2023

Market Data

Weekly Price Changes

(US$ unless stated)

Metal prices

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Mining Review 15th October 2023

Gold powered back as the risk of escalation in the Middle East increased during a politically tense week.

Karora Resources announced strong Q3 production numbers, i-80 Gold and West Red Lake Gold posted positive updates. 

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Karora Resources underground mining at Beta Hunt Gold Mine, WA.

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City Investors Circle Mining Review 15th October 2023

.Gold powered back as the risk of escalation in the Middle East increased during a tense week. The situation with Israel about to invade Gaza looks set to intensify, and if Iran is attacked all bets will be off for the gold price.

The London Global Mining Finance Conference issued it’s preliminary presentor list for their Autumn conference in the Pewterers’ Hall, Barbican, here.

Karora Resources announced strong Q3 production numbers, i-80 Gold and West Red Lake Gold posted positive updates.

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News from our watchlist companies this week is below, click the link to be taken to the story

  I-80 Gold Provides Granite Creek Update

  Karora Resources Announced Q3 Gold Production Of 39,548 Oz

  West Red Lake Gold Intersected 45.20 g/t Au over 2m

  Lithium Power Intl. Responded to Media Speculation

  Global Mining Finance Conference November 2023

  West Red Lake Gold Provided Project Update

  Mining Review 8th October 2023

Market Data

Weekly price changes

(US$ unless stated)

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Mining Review 24th September 2023

We announced the initiation of coverage of West Red Lake Gold recently, and they  delivered some decent drill results this week.

The other watchlist company reporting good results was Karora Resources, at its Beta Hunt Mine is Western Australia.

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City Investors Circle Mining Review 24th September 2023

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We announced the initiation of coverage of West Red Lake Gold recently, and they  delivered some decent drill results this week.

The other watchlist company reporting good results waas Karora Resources, at its Beta Hunt Mine is Western Australia.

News from companies on our watchlist is listed below, please click on the links to read the full story.

  Cornish Metals Started a 9,000 m Drill Program

  i-80 Gold Announced US$20 Million Gold Prepay Accordion

  Neometals Granted a Battery Recycling Patent

  Global Mining Finance Autumn Conference Details

  Karora Resources Reported 14.7 G/T Gold Over 4 m And 12.2 G/T Over 6 m

  West Red Lake Gold Drilled 70.80 g/t Au over 8.3m

  Mining Review 17th September 2023

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Market Data

Week on Week price changes

(US$ unless stated)

Metal Prices

Mining Review 24th September 2023.

Mining Review 17th September 2023

We initiated coverage of West Red Lake Gold Mines, new owners of the Madsen Mine, formerly owned by Pure Gold Mining, which went into administration, and subsequently delisted from the TSX.V and AIM markets.

Ascot Recources, i-80 Gold, and Karora Resources all reported good drill results in a busy reporting week. 

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City Investors Circle Mining Review 17th September 2023

Mining Review 17th September 2023 We initiated coverage of West Red Lake Gold Mines, new owners of the Madsen Mine, formerly owned by Pure Gold Mining, which went into administration, and subsequently delisted from the TSX.V and AIM markets.

With a new management team with a record for achievement, and a new plan to exploit the resources and existing mine infrastructure, WRLG looks set to deliver shareholder value, if executed correctly of course.

To read about WRLG, please click here.

Companies on our watchlist in the news last week

Ascot Recources, i-80 Gold, and Karora Resources all reported good drill results in a busy reporting week.

To read about this week’s news in detail, please click the links below,

  Initiating Coverage West Red Lake Gold Mines

  I-80 Gold Announced High-Grade Results From Ruby Hill

  Ascot Resources Intercepted 32.9 g/t Gold Over 4.9m

  Karora Resources Reported Good Drill Results From Fletcher South

  Calidus’ Blue Spec Approval to Boost Output

  Orla Mining Amended Credit Facility

  Mining Review 10th September 2023

Market Data

Week on week price changes

(US$ unless stated)

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Metal and ETF Index Prices

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.

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

i-80 GOLD CORP. (TSX: IAU)

Reported positive results from exploration drilling at the Company’s 100%-owned Ruby Hill Property located in Eureka County, Nevada.

The 2023 program continues to expand high-grade gold and polymetallic mineralization in multiple zones,  the highlight being 15.6 % Zn, 8.7 % Pb, 420.4 g/t Ag, and 0.6 g/t Au over 40.4 m.

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i-80 Gold Ruby Hill Mine, Nevada, USA

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Mining Review 27th August 2023

Gold bounced back strongly after falling on US interest rate rise expectations.

American Creek and Karora Resources both reported good drill results from recent exploration activity.

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City Investors Circle Mining Review 27th August 2023

Gold bounced back strongly after falling below $1900 on US interest rate rise expectations.

The price of lithium has fallen sharply again, down 8.7% last week and over 26% in the last month.

As we are in drilling season there’s not too much newsflow currently, but American Creek, i-80 Gold,  and Karora Resources all reported good drill results from their recent exploration activity.

American Creek benefit from Tudor Gold paying to do drilling on their behalf at Treaty Creek, which was what attracted me to the company in the first place, no share dilution required.

i-80 Gold have four projects in Nevada, with Ruby Hill producing some strong polymetallic drill results consistently.

Karora Resources continue to make discoveries at their Beta Hunt mine in Western Australia, the good news keeps on flowing. I like then ickel component to their mainly gold story, it’s a backstop if you like for a poor gold price, as the two metals are often inversely correlated due to nickel being an industrial metal.

All the news from our watchlist companies is below, click on the links to be taken to the full story on our website.

 I-80 Gold Announced High-Grade Results at Ruby Hill

  UEC Acquired a Portfolio of Canadian Uranium Projects

  Neometals’ Mercedes Battery Recycling Plant Order

  Karora Resources Reported New Fletcher South Results

  Karora Resources appointed Makuch as Director, Humphry as CFO

  American Creek’s JV Partner Intersected 1.48 g/t AUEQ Over 210m

  Mining Review 20th August 2023

Market Data

Weekly price changes

(US$ unless stated)

Metal prices

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i-80 GOLD CORP. (TSX: IAU)

Announced that it has entered into an agreement with CIBC Capital Markets as lead underwriter and sole bookrunner to which the Underwriters have agreed to purchase on a bought deal private placement basis, 11,852,000 common shares of the Company at a price of $2.70 per Offered Share for gross proceeds of $32.0 million.

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i-80 GOLD CORP. (TSX:IAU)

Announce positive results from two additional underground drill holes at the Company’s 100%‑owned McCoy-Cove Property located in Lander County, Nevada.

The new results include the best intercepts to date and continue to demonstrate continuity of high-grade mineralization in the CSD/Gap Zone. 

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Reno, Nevada, July 10, 2023 – i-80 GOLD CORP. (TSX:IAU) (NYSE:IAUX) (“i-80”, or the “Company”) is pleased to announce positive results from two additional underground drill holes at the Company’s 100%‑owned McCoy-Cove Property (“Cove” or “the Property”) located in Lander County, Nevada. The new results include the best intercepts to date and continue to demonstrate continuity of high-grade mineralization in the CSD/Gap Zone. . Highlight results from recent 2023 drilling at Cove include: iCHU23-10: 14.9 g/t Au over 32.7 m, including 22.8 g/t Au over 14.8 m iCHU23-11 : 15.7 g/t Au over 22.5 m, including 21.8 g/t Au over 11.5 m 18.9 g/t Au over 29.3 m, including 27.8 g/t Au over 14.9 m   The ongoing program, expected to consist of approximately 40,000 metres of drilling, is being completed on 30 metre spacing in advance of an updated resource estimate and economic study related to the construction of mining operation at McCoy-Cove. This program is focused on the CSD/Gap and Helen Zone portions (Figures 1 & 2) of the deposit  which also includes mineralization below the pit in the Cove South Deep and 2201 deposits that are not being drilled as part of this program. . . Tyler Hill, Chief Geologist of i-80 Gold stated “Grades and widths continue to meet or exceed expectations and are consistently at or above the current resource grade.   “With the Phase 1 underground decline nearing completion, the focus will shift entirely to the drill program, permitting and final mine approvals.” . . Figure 1 – 3D View of the Cove Deposit and Drill Program . . .   Cove is one of three projects currently being advanced to realize the Company’s goal of becoming the second largest gold producer in Nevada. In addition to the underground drill program, the exploration and development program will also include the completion of the first phase of the underground decline and drift, and detailed hydrological and metallurgical test work in advance of completing a Feasibility Study following the underground definition drill program. The ongoing infill and step-out drill program will aide in the advancement of the Company’s plan to develop an underground mine at Cove utilizing the current decline with material anticipated to be trucked to the Company’s Lone Tree facility, once operational, for processing in addition to Nevada Gold Mines pursuant to the processing agreement between the two companies.   Following the underground drill program, i-80 plans to complete an updated mineral resource estimate and a Feasibility Study.

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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in i-80 Gold

..

City Investors Circle – London

The April 2023 Market Review has been published.

Companies mentioned include Argosy Minerals, Calidus Resources, Gold Road Resources, i-80 Gold, and Karora Resources. 

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Mines and Money 2022 – The magnificent Business Design Centre, at Islington.

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City Investors Circle – London –  April 2023 Market Review

Companies mentioned include Argosy Minerals, Calidus Resources, Gold Road Resources, i-80 Gold, and Karora Resources. 

We discuss the lightly attended recent London mining conferences and suggest reasons why so few investors are attending.

The review includes all the market data changes for the month, including positive updates for precious metals and negative for industrial metals, as world recession fears grow.

To subscribe to receive the monthly Market Review and invitations to our free to attend events in London, please email andrew@city-investors-circle.com

To read the current Market Review, please click HERE

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.

If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in Argosy Minerals, Calidus Resources, i-80 Gold, and Karora Resources, all bought in the market at the prevailing price on the days of purchase.

..

i-80 Gold (TSX.V: IAU)

Announced that drilling has discovered new lenses of high-grade poly-metallic carbonate replacement deposit type (CRD) and skarn mineralization along the Hilltop fault structure and continues to expand mineralization in the Hilltop Zones and at the Company’s 100%-owned Ruby Hill Property located in Eureka County, Nevada. 

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i-80 Gold Ruby Hill Mine, Nevada, USA

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i-80 GOLD CORP. (TSX: IAU)

Reported its operating and financial results for the three and twelve months ended December 31, 2022.  .

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I-80 Gold – Ruby Hill

City Investors Circle Market Review –  February 2023.

Features the new hot metal so far in 2023, up over 100% in two months, plus comments on Cyprium Metals, i-80 Gold, Japan Gold, Karora Resources, and Orla Mining..

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City Investors Circle Market Review –  February 2023 

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Features the new hot metal so far in 2023, up over 100% in two months, plus comments on Cyprium Metals, i-80 Gold, Japan Gold, Karora Resources, and Orla Mining.

We review the metal price movements for the first two months of the New Year, and the new ‘hot’ metal of the moment, as thermal coal and lithium, last year’s highest gainers, are in retreat.

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To read this month’s Market Review, please click here

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To receive our free monthly Market Review, and invitations to our free to attend events, please email Andrew@city-investors-circle.com

=======

.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in i-80 Gold Corp., Karora Resources, and Orla Mining.

.

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i-80 GOLD CORP. (TSX:IAU)

Announced that they have  entered into a definitive arrangement agreement with Paycore Minerals Inc. (TSX.V: CORE) whereby i-80 will acquire all of the outstanding common shares of Paycore pursuant to a statutory plan of arrangement. 

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i-80 Gold Ruby Hill Mine, Nevada, USA

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i-80 Gold Corp. Acquires Paycore Minerals to Expand Ruby Hill Project

Reno, Nevada, February 27, 2023 – i-80 GOLD CORP. (TSX:IAU) (NYSE:IAUX) (“i-80”) and Paycore Minerals Inc. (TSXV:CORE) (“Paycore”) are pleased to announce that the companies have entered into a definitive arrangement agreement (the “Agreement”) whereby i-80 will acquire all of the outstanding common shares of Paycore (the “Paycore Shares”) pursuant to a statutory plan of arrangement under the Business Corporations Act (Ontario) (the “Transaction”).

Paycore owns the FAD Property that is host to the high-grade FAD deposit located immediately south of, and adjoining, i-80’s 100%-owned Ruby Hill Property (“Ruby Hill” or the “Property”) located in Eureka County, Nevada.

The Transaction will consolidate the northern portion of the Eureka District and is expected to strengthen i‑80’s dominant presence in the district by increasing the size of the land package at Ruby Hill by more than 34% to approximately 14,272 acres, providing i-80 enhanced exposure to one of the world’s premier emerging Carbonate Replacement Deposit (“CRD”) districts.

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Highlights of the Transaction include:

• Exchange ratio of 0.68 of an i-80 common share for each Paycore share held, representing a 36% premium for Paycore shareholders based on the 20-day volume-weighted average price for both Paycore and i-80 for the period ended on February 24, 2023 and a 26% premium based on the closing prices of both companies on February 24, 2023[1]
• Provides i-80 with an additional high-grade deposit along trend from mineralization being drilled on the Ruby Hill Property and in close proximity to the Ruby Hill processing infrastructure (3,540,173 t @ 5.14 g/t Au, 196.46 g/t Ag, 8.0% Zn, 3.8% Pb)[2]
• Consolidates the northern portion of the Eureka District and enhances the upside opportunity of i-80 post-Transaction
• Increase i80’s land position along the highly prospective Jackson-Holly fault corridor from 1.5km to 4.3km
• Unanimous board approval and support from Paycore’s largest shareholder, Waterton Nevada Splitter, LLC and Waterton Nevada Splitter II, LLC (“Waterton”), which holds approximately 25% of the outstanding Shares of Paycore.

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Ewan Downie, CEO of i-80 Gold stated;

“The geological setting being defined in the Eureka District is truly the most unique I have witnessed in my career.

 

“In the immediate area surrounding the Archimedes pit, we have identified oxide gold, Carlin-type refractory gold, base metal skarn and polymetallic carbonate replacement mineralization. Older mineralizing events are often overprinted by Carlin-type mineralization resulting in precious metal rich deposits not found elsewhere in the Great Basin.

 

“We have intersected high-grade mineralization in every one of our targets tested in 2022, all of which remain wide open for expansion. The expanded property has the potential to host a world-class polymetallic deposit with enhanced potential for further discoveries.

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Matthew Gollat, Executive Vice-President of i-80 Gold stated;

“The consolidation of the core part of the Ruby Hill district will allow i-80 to aggressively pursue the optimization of the company’s multi-year development plan – to create one of the largest U.S.-focused diversified mineral producers.

 

”“Step-out drilling results from Paycore’s 2022 drill program confirm the upside potential of what we believe to be one of Nevada’s highest-grade undeveloped deposits that will benefit from the Ruby Hill processing infrastructure.

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Christina McCarthy, President & CEO of Paycore Minerals stated;

“This Transaction not only provides Paycore shareholders with greater exposure to the Eureka District, but also to i-80’s high-grade Granite Creek and Cove Projects, and its existing permitted infrastructure which includes an autoclave, while also delivering a significant premium and enhanced liquidity as i-80 shareholders.”

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.James Gowans, Chairman of Paycore Minerals, states:

“The mineralization of these two properties is indicating a massive carbonate replacement system along the fault corridor between the two properties. The combination of i-80 and Paycore’s deposits is shaping up to be among the highest-grade carbonate replacement deposits (CRD’s) in the world.”

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Transaction Details

Pursuant to the Transaction, Paycore shareholders will receive 0.68 of an i-80 common share (each whole common share, an “i-80 Share”) for each Paycore Share held (the “Exchange Ratio”), representing a premium of 36% based on the 20-day volume weighted average price of both Paycore and i-80 shares for the period ended February 24, 2023 and a 26% premium based on the closing prices of both companies on February 24, 2023[3].

Based on the Exchange Ratio, upon completion of the Transaction, existing i-80 shareholders will own approximately 90% and former Paycore shareholders will own approximately 10% of the combined company, on a fully diluted in-the-money basis.

The Agreement includes, among other things, customary representations, warranties and covenants, including a non-solicitation provision, a right to match superior proposals in favour of i-80, as well as a termination fee of approximately $3.3 million payable by Paycore under certain customary circumstances.

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For brevity, this summary has been redacted, to read the full news release, please click HERE.

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

The author holds shares in 1-80 Gold.

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