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    i-80 Gold ends Vox Royalty offtake: sales flexibility and project lens for mine planners

    June 27, 2026|

    Reviewed by Tom Sullivan

    i-80 Gold ends Vox Royalty offtake: sales flexibility and project lens for mine planners

    First reported on MINING.com

    30 Second Briefing

    i-80 Gold has paid Vox Royalty US$4.8 million in shares (3.45 million at US$1.39) to terminate a 2016 offtake covering up to 40,000 oz/year of refined gold from the Granite Creek and Ruby Hill operations in Nevada through 2028. The move removes fixed-margin offtake on its first producing underground mine at Granite Creek and the planned Archimedes open pit at Ruby Hill, ahead of commissioning the refurbished Lone Tree processing complex in Phase 1 of its Nevada build-out. i-80 says the change will allow more flexible timing of gold sales and potential stockpiling against future price conditions.

    Technical Brief

    • Termination cost is structured as equity: ~3.45 million IAUX/IAU shares issued at US$1.39.
    • Shares are issued under i-80 Gold’s existing US shelf registration, avoiding a separate prospectus process.
    • Obligation being removed covered up to 40,000 oz/year of refined gold deliveries until end-2028.
    • Lone Tree’s refurbishment as a central processing hub is key to consolidating Nevada throughput and pricing control.
    • Market reaction was positive, with i-80’s New York market capitalisation reaching ~US$1.26 billion on the announcement.

    Our Take

    The move to terminate Vox Royalty’s offtake while i-80 Gold maintains a sizeable US$500 million funding package with Franco-Nevada and lenders (covered in our earlier item) suggests the company is actively reshaping its cost of capital mix away from legacy Premier Gold Mines structures and towards longer-dated, portfolio-level instruments.

    Given that this is one of relatively few cobalt- and critical-minerals-tagged pieces in our mining database focused on Nevada rather than the DRC, i-80 Gold’s portfolio positioning may become more relevant to US supply-chain narratives if any by-product credits from Ruby Hill or Granite Creek can be framed as domestic critical minerals output.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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