IAUX - i-80 Gold: Down But Not Out After 2023-24's Dilution Disaster
2024-05-05 12:07:20 ET
Summary
- i-80 Gold has experienced a -55% investment loss since my last article in 2022, primarily due to excessive rates of development spending and the issuance of extra ownership shares.
- The company's Nevada gold & silver mining assets/resources are very attractive to own, assuming a measured rate of capital spending can bring far greater production levels by 2026-27.
- The technical trading pattern for IAUX is showing signs of improvement, with the potential for further gold/silver gains driving the stock quote much higher.
I suggested i-80 Gold Corp. ( IAUX ) at $2.70 per share as a buy idea back in December 2022 here . My bullish forecast was based on a string of positive exploration drill results at its Nevada gold properties and some very powerful momentum characteristics in share trading. Well, despite a decent rise in gold/silver bullion during 2023-24, the stock sits at $1.23 today, representing a -55% investment loss....
i-80 Gold: Down But Not Out, After 2023-24's Dilution Disaster