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i-80 gold (NYSE:IAUX) -4.1% After the market closed on Monday, the corporate mentioned it had established a market fairness program totaling as much as $50 million.
The corporate mentioned it plans to make use of the proceeds to advance the exploration, improvement, growth, debt compensation and dealing capital wants of McCoy-Cove, Granite Greek, Lone and different oil fields. Tree and Ruby Hill initiatives, and for normal company and dealing capital functions.
Shares of i-80 Gold (IAUX) surged greater than 16% in common buying and selling after the corporate introduced high-rated outcomes from its underground drilling program at its McCoy-Cove property in Nevada.
Chief govt Ewan Downie mentioned: “Definition drilling continues to return high-grade mineralization over a formidable breadth, making Cove a pillar undertaking within the firm’s future progress plans.”
“Our exploration program continues to ship outcomes that make Cobh one of many highest-grade gold deposits in improvement in North America,” Downey mentioned.
