i-80 Gold Corporation (NYSE:IAUX) Q2 2023 Earnings Call Transcript August 3, 2023 10:00 AM ET
Company Participants
Matt Gollat - Executive Vice-President
Ryan Snow - CFO
Matt Gili - President & COO
Conference Call Participants
Justin Chen - SCP Resource Finance
John Tumazos - John Tumazos Very Independent Research
Operator
Good morning. My name is Zenith, and I will be the conference operator today. At this time, I'd like to welcome everyone to the i-80 Gold Corp. Second Quarter 2023 Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.
Mr. Gollat you may begin your conference.
Matt Gollat
Thank you and good morning everybody. Thanks for joining us on this warm Thursday in Thunder Bay, and I'm sure it's a nice day in Reno as well. On the call with me is Ryan Snow, Chief Financial Officer, Matt Gili, President and Chief Operating Officer. Unfortunately, Ewan Downie is having a travel delay, so we're going to go on ahead with the call without him. So, you'll get the presentation from the rest of us.
Going on to Slide 3, I just want to highlight that we will be making forward-looking statements, so I encourage you to read this slide and understand that some of that forward-looking statements will be made.
With that, I'm going to turn it over to Ryan Snow to talk about the financial results, and then we'll get into a brief presentation on the Company. Ryan?
Ryan Snow
Thanks, Matt, and good morning to the listeners from me. Yesterday, the Company reported our financial statements and MD&A for the second quarter and first six months of 2023. They can be found on SEDAR, EDGAR, and the Company's website.
On Slide 4 of the presentation, we present a graph of our production and sales by quarter for the year. This production is from the residual leaching activities at both Ruby Hill and Lone Tree, and also includes the oxide material we've placed on the leach pad from Granite Creek.
Second quarter production was 4,329 ounces, and year-to-date production was 6,678 ounces. The Company expects increased gold production in sales in the second half of 2023 when compared to the first half.
Slide 5 of the presentation highlights our revenue of $11.3 million in Q2, bringing year-to-date revenue to $16.9 million. This revenue generated a mine operating loss of $3.6 million for the quarter and $7 million year-to-date.