Nevada-focused i-80 Gold, which was spun out of Premier Gold as part of a takeover by Equinox Gold, made its debut on the Toronto Stock Exchange on Tuesday.
i-80, in which Equinox remains a cornerstone shareholder, opened at C$3.05 a share, but closed 21% down at C$2.40 a share.
The new miner said in a statement that it would begin executing its strategy and growth reserves, with a major drill programme at the Getchell project slated to begin in the coming week. A substantially increased expansion drill programme is also under way at South Arturo.
Further, i-80 announced that Andy Cole would join its team as senior metallurgical and processing adviser. Cole brings to i-80 more than 34 years' experience in mine development, processing and production, including 20 years of experience at Barrick's largest core asset, the Goldstrike mine in Nevada.
At Goldstrike, he served in several capacities beginning as autoclave and roaster superintendent, process operations, ultimately being promoted to general manager of the Goldstrike complex. Members of i-80 have had previous experience working with Cole as a Barrick representative on the South Arturo mine joint venture.