i-80 CEO buys more shares
Ewan Downie, the CEO of Nevada-focused i-80 Gold, has increased his ownership in the mining company to about five-million shares, or 2.09%, the firm said on Monday.
Since i-80 Gold started trading on April 14, Downie has bought more than 1.4-million shares.
"Since the inception of the company less than one year ago, we have closed multiple major transactions that position i-80 as one of the largest holders of gold and silver resources in Nevada,” stated Downie.
"We have secured a strong balance sheet including nearly $200-million in cash and cash equivalents following funding of the previously announced financing package and have embarked on a peer-best production growth initiative in the world's most favourable mining jurisdiction."
i-80 Gold’s goal is to achieve midtier gold producer status through the development of four new openpit and underground mining operations that will ultimately process ore at the centrally located Lone Tree complex that includes an autoclave.
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