Update: i-80 Gold Shares Rise After Ending Gold Offtake Deal With Vox Royalty
(Updates with the latest stock movement in the first paragraph and headline.)i-80 Gold (IAUX) shares were up about 2.9% in Friday afternoon trading after the company said it has entered into a termination and settlement agreement with Vox Royalty Cayman SEZC and its parent company, Vox Royalty, to end its existing gold offtake arrangement.The agreement removes i-80 Gold's obligation to sell and deliver up to 40,000 ounces of refined gold annually from its Granite Creek and Ruby Hill properties through 2028, it said.As part of the settlement, i-80 Gold said it will issue 3.45 million common shares valued at about $4.8 million to Vox.The company said the termination is expected to allow it to better manage gold sales based on market prices and support future development plans, including the planned commissioning of the Lone Tree Plant.Price: $1.43, Change: $+0.04, Percent Change: +2.88%
