i-80 Gold Corp. (NYSE: IAUX) reported that the refurbishment of its Lone Tree autoclave and carbon-in-leach processing plant in Nevada remains on schedule and on budget, with first gold pour targeted by year-end 2027.

According to a company press release, approximately 50% of procurement packages by value have been awarded as of mid-July, and about 40% of total capital has been committed. Detailed engineering is roughly 30% complete. Major demolition began in mid-June and is expected to extend into the fourth quarter of 2026, when major construction is also scheduled to commence.

The total capital cost estimate for the project stands at $430 million, inclusive of approximately 12% contingency, owner's costs, and capital spares. The company's 2026 guidance calls for between $140 million and $160 million in expenditures this year, and costs incurred to date remain in line with those figures.

A December 2025 engineering study estimated that transitioning from toll milling to an owner-operator processing model could reduce processing costs and increase cash margins by between $1,000 and $1,500 per ounce of gold, depending on grade and gold price.

The plant is expected to process approximately 2,250 tonnes per day, with annual throughput of roughly 825,000 tonnes, using integrated pressure oxidation and carbon-in-leach circuits capable of handling both refractory and non-refractory material.

Key upcoming milestones include completion of detailed engineering by the end of the first quarter of 2027, filtration plant completion in early fourth quarter 2027, and first gold pour by year-end 2027.

"Engineering, procurement, staffing, early works activities and demolition have all progressed as expected," said Paul Chawrun, EVP and COO. "We continue to view this refurbishment as a manageable, and low-risk project with comparatively low labor hours and materials."

i-80 Gold states it is one of two gold companies in Nevada operating an autoclave processing plant, the other being Nevada Gold Mines Inc., a joint venture between Barrick Mining Corporation and Newmont Corporation.