i-80 Gold Corp (IAUX) signs decade-long offtake agreement

In a significant development for i-80 Gold Corp. (NYSE: IAUX) has entered into a material definitive agreement that will shape its operations for the coming decade. On February 7, 2025, i-80 Gold Corp. and some of its subsidiaries established an Offtake Agreement with OMF Fund III (HG) Ltd., concerning two of its key projects.

The Offtake Agreement, which covers the Granite Creek project and the Ruby Hill project, is slated to last until December 31, 2034. However, the purchaser's rights to buy refined gold and silver from these projects will commence on December 28, 2028. According to the terms of the agreement, OMF Fund III (HG) Ltd. is set to purchase 20% of the refined gold and 20% of the refined silver produced from each of the projects. The pricing for these precious metals will be based on market rates, after accounting for agreed-upon returns, refining charges, and any applicable penalties.

This strategic move is expected to provide a steady revenue stream from the production of these precious metals for i-80 Gold Corp. The agreement underscores the company's commitment to securing long-term sales for its output, locking in a buyer for a significant portion of its future production.

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