i-80 Gold Corp. (NYSE:IAUX) Q2 2022 Earnings Conference Call August 10, 2022 10:00 AM ET
Company Participants
Ewan Downie – Chief Executive Officer
Ryan Snow – Chief Financial Officer
Conference Call Participants
Operator
Please stand by. Good morning. My name is Justin and I will be your conference operator today. At this time, I'd like to welcome everyone to the i-80 Gold Corp. Second quarter 2022 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. Downie, you may begin your conference.
Ewan Downie
Thank you. And thank you for everyone for attending today's presentation. i-80 Gold Corp. is one of the industry's newest gold producers. We are a company that produces entirely from the United States in Nevada and our company is traded both on the TSX under the symbol IAU and the New York Stock Exchange under the symbol IAUX.
On Slide 2 of the presentation, I will introduce the participants today. There's myself, I'm the CEO of the company, Ryan Snow, our CFO; and Matt Gollat, Executive Vice President and Matt Gili is unable to attend today's presentation.
Slide 3 is the standard disclaimer statement that talks about potential forward-looking statements that may be made here are forward-looking information. And I urge everybody to read this slide before when you look at our presentation.
I will pass on the presentation for the next few slides to our company's Chief Financial Officer, Ryan Snow.
Ryan Snow
Thanks, Ewan, and good morning to those listening today. Yesterday, the company reported our financial statements and MD&A for the second quarter of 2022, and they can be found on SEDAR, EDGAR and the company's website. On Slide 4, the highlights for the second quarter of 2022 included commencing trading on the New York Stock Exchange on May 19 under the symbol IAUX.
Gold sales of $3,507 ounces from leaching activities at Ruby Hill and Lone Tree. This was a 42% increase from Q1 and I think we will see a similar increase for Q3 from Q2. These gold ounces were produced at an all-in sustaining cost of $1,356 per ounce sold. Completion of the previously announced funding package for $75 million with Orion Mine Finance. Ending cash balance for the quarter of $101 million, in addition to $30.8 million in restricted cash.