i-80 Gold Corp ( (TSE:IAU) ) just unveiled an update.
i-80 Gold Corp. has announced a US$135 million bought deal public offering of units, with National Bank Financial Inc. and Cormark Securities Inc. acting as co-bookrunners. The proceeds from this offering, which includes an option for underwriters to purchase additional units, will be used to support the company’s growth expenditures in Nevada and general corporate purposes. This strategic move is expected to bolster i-80 Gold’s development plans and strengthen its position in the gold mining industry, subject to necessary regulatory approvals.
Spark’s Take on TSE:IAU Stock
According to Spark, TipRanks’ AI Analyst, TSE:IAU is a Neutral.
i-80 Gold Corp faces significant financial challenges with negative profitability and cash flow metrics, which heavily weigh down the overall score. While recent corporate developments and strategic plans show potential for future growth, current financial instability and unfavorable valuation metrics present substantial risks. Technical indicators confirm a bearish trend, further impacting the stock’s attractiveness.
To see Spark’s full report on TSE:IAU stock, click here.
More about i-80 Gold Corp
i-80 Gold Corp. is a Nevada-focused mining company dedicated to establishing itself as a mid-tier gold producer. The company is advancing its operations through a new development plan aimed at enhancing its high-quality gold assets.
Average Trading Volume: 650,323
Technical Sentiment Signal: Sell
Current Market Cap: C$372.4M
See more data about IAU stock on TipRanks’ Stock Analysis page.