How does IAUX's Q2 performance compare to Q1?

i-80 Gold Corp. (IAUX) experienced a decline in financial performance from the first quarter (Q1) to the second quarter (Q2) of 2024, primarily due to lower gold sales volumes and higher groundwater ingress at the Granite Creek underground mine. 1. **Revenue Comparison**: - In Q1 2024, IAUX reported total revenue of $50.3 million for the fiscal year ended December 31, 2024. - The company’s revenue in Q2 decreased to $23.2 million, below the Q1 revenue, indicating a decline in sales performance. 2. **Net Income Analysis**: - IAUX reported a net loss of $121.5 million for the year, with Q2 contributing to this total. - The net loss per share was $0.34, slightly higher than the $0.33 loss per share in Q1 2024. 3. **Operational Challenges**: - Production at the Granite Creek underground mine was impacted by increased groundwater ingress, affecting productivity and development rates. - This issue led to a shortfall in revenue and earnings compared to the previous quarter. 4. **Future Outlook**: - IAUX anticipates improved production at Granite Creek, with extraction rates expected to ramp up in the second half of 2025. - The company aims to strengthen its balance sheet and focuses on strategic initiatives to support growth, including a recapitalization plan. In summary, IAUX's Q2 performance was notably weaker than Q1 2024, primarily due to lower gold sales volumes and increased operational challenges at the Granite Creek mine. Despite these setbacks, the company remains optimistic about future production improvements and strategic initiatives to bolster its financial position.