BUZZ-i-80 Gold slides after unveiling $200 million convertible bonds offering
Reuters03-18 20:05
BUZZ-i-80 Gold slides after unveiling $200 million convertible bonds offering
** Nevada-focused mining company i-80 Gold's IAUX.A shares slide 14.2% to $1.39 premarket
** IAUX unveils offering of $200 million unsecured convertible bonds due 2031
** Proceeds will be used to fund IAUX's five gold projects, resource expansion, infill drilling and refurbishing the Lone Tree processing plant, among other purposes
** Earlier this week, IAUX closed royalty financing with Franco-Nevada and retired certain legacy debt obligations
** IAUX has 841 million outstanding shares with a $1.37 billion market cap - data compiled by LSEG
** As of last close, IAUX stock up 11% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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