The termination removes a 40,000-ounce annual gold delivery obligation through December 31, 2028, boosting financial flexibility.
I-80 Gold Corp. (IAUX) terminated its gold offtake agreement with Vox Royalty, eliminating a fixed obligation to deliver up to 40,000 ounces of refined gold annually from its Nevada properties through December 31, 2028. The move is expected to enhance financial and commercial flexibility while generating cash flow savings.
Under the settlement, I-80 Gold will issue 3,453,237 common shares to Vox, valued at $4.8M based on a $1.39 share price. The offtake agreement previously covered 100% of gold production from Ruby Hill, Cove, and Granite Creek, with a carrying value of $2.6M as of March 31 and $270,000 in net margin in Q1 2026.
Completion of the termination is expected before June 30, 2026. The company explores and develops gold and silver deposits in the U.S.