I-80 Gold Corporation (NYSE:IAUX) Q3 2022 Earnings Conference Call November 9, 2022 10:00 AM ET

Company Participants

Ewan Downie - CEO & Director

Ryan Snow - CFO

Matthew Gili - President & COO

Conference Call Participants

Michael Fairbairn - Canaccord Genuity

Operator

Ladies and gentlemen, please stand by. Good morning, afternoon, and evening. My name is Jake, and I will be your conference operator today. At this time, I would like to welcome everyone to the I-80 Gold Corp. Third Quarter 2022 Financial and Operation Results Conference Call. [Operator Instructions].

Mr. Downie, you may begin your conference.

Ewan Downie

Hi, and thank you for everybody for attending today's conference. Today, we will be discussing our third quarter financials as well as provide some updates on what the company is doing. On Slide 2, the participants from management in this call are myself, Ewan Downie. We have Matt Gili, Matt Gollat, and Ryan Snow attending. Ryan will be presenting the financial portion of the presentation. On Slide 3 is our standard disclaimer statement, which also deals with forward-looking statements, and I urge everybody to read this when you read our presentation.

On Slide 4, our company is a U.S.-focused gold producer, developer, and explorer. We are one of the largest holders of gold and silver resources in the state of Nevada and we have several exploration programs ongoing within the company as we advance our plan to become one of the largest producers in the state. In terms of our extensive resources, our company has approximately 6.5 million measured and indicated gold ounces and more than 8 million ounces inferred -- with almost combined 180 million ounces of silver.

I will pass over the next slide to Ryan Snow, our CFO, and he will take you through this quarter's financials.

Ryan Snow

Thanks, Ewan, and good morning to those listening today. Yesterday, the company reported our financial statements and MD&A for the third quarter of 2022, and they can be found on SEDAR, EDGAR, and the company's website. On Slide 5 of the presentation, you'll see 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 as highlighted by a record third quarter where we produced 9,332 ounces of gold. Moving to Slide 6 of the presentation. You will see our total cash cost and all-in sustaining costs by quarter for the year. Our third quarter all-in sustaining cost was $1,138 per ounce and year-to-date is $1,204 per ounce. Additional highlights for the quarter include the ending cash balance at September 30 of $76 million in addition to $32.7 million in restricted cash.