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In a recent transaction, David Roger Savarie, the Senior Vice President and General Counsel of i-80 Gold Corp. (NYSE:IAUX), purchased a total of 62,500 common shares of the company. The acquisition was carried out on February 28, 2025, at a price of $0.5541 per share, amounting to a total transaction value of $34,631. The purchase comes as the stock, currently trading at $0.76, has shown strong momentum with a 59.57% gain year-to-date, despite its characteristic volatility.
The purchase was split into two equal parts. Savarie directly acquired 31,250 shares, while an additional 31,250 shares were acquired indirectly through the Savarie Family Trust. Following these transactions, Savarie now holds 226,200 shares directly, with additional shares owned indirectly. According to InvestingPro, i-80 Gold Corp., with a market capitalization of $338 million, maintains a FAIR financial health score and is scheduled to report earnings on March 18, 2025.
This acquisition reflects a notable investment in i-80 Gold Corp., further aligning Savarie’s interests with those of the company. For deeper insights into i-80 Gold Corp.’s valuation and financial metrics, investors can access comprehensive analysis through InvestingPro’s detailed research report, one of 1,400+ available company analyses.
In other recent news, i-80 Gold Corp. has entered into a decade-long offtake agreement with OMF Fund III (HG) Ltd., covering its Granite Creek and Ruby Hill projects. This agreement, effective until December 31, 2034, allows the purchaser to buy 20% of the refined gold and silver from these projects starting December 28, 2028. Additionally, i-80 Gold Corp. announced a subscription agreement with certain investors, although specific investment details were not disclosed. The company has also increased its public offering to $20 million, with the closing expected by January 31, 2025. This offering includes a private placement of subscription receipts, potentially raising up to C$803,367, involving company directors and officers.
Furthermore, i-80 Gold Corp. filed a material change report with Canadian securities authorities, though the specifics of the change were not detailed. In another development, the company amended agreements with Orion Mine Finance to defer gold and silver deliveries, as part of its recapitalization plan. This deferral includes issuing five million common share purchase warrants to Orion. Lastly, Greg Smith has stepped down from the Board of Directors following the divestiture of i-80 Gold shares by Equinox Gold Corp (NYSE:EQX).
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