I-80’s Granite Creek resources triple, costs jump

AI desk brief

I-80 Gold’s new Granite Creek feasibility study boosts measured and indicated resources 229% to 859,500 oz. and establishes initial reserves of 556,500 oz., but it also lifts life-of-mine AISC sharply to $2,273/oz. from $1,597/oz. in the prior PEA. At a $2,750/oz. gold price, after-tax NPV is $118 million, while at $3,000/oz. management says the project generates $193 million NPV versus $373 million in the earlier sensitivity, underscoring that the larger resource comes with materially higher capital and operating costs.

Granite Creek remains central to i-80’s plan to ramp production from about 50,000 oz./yr to a 300,000–400,000 oz./yr Nevada producer, with 2028-32 output expected to rise to about 75,000 oz./yr once the Lone Tree plant is commissioned. The study forecasts $238 million of net cash flow from 2028-2032, but the economics are still described as “relatively modest” given elevated costs and $145 million of total capital and closure spending.