M&A Deal Summary

i-80 Acquires Osgood Mining

On April 15, 2021, i-80 acquired metals/mining company Osgood Mining from Waterton Global Resource Management for 50M USD

Acquisition Highlights
  • This is i-80’s 1st transaction in the Metals/Mining sector.
  • This is i-80’s largest (disclosed) transaction.
  • This is i-80’s 1st transaction in the United States.
  • This is i-80’s 1st transaction in Nevada.

M&A Deal Summary
Date 2021-04-15
Target Osgood Mining
Sector Metals/Mining
Buyer(s) i-80
Sellers(s) Waterton Global Resource Management
Deal Type Add-on Acquisition
Deal Value 50M USD

Target

Osgood Mining

Carson City, Nevada, United States
Osgood Mining Co. is the owner of the Getchell Project in the Getchell gold belt near Winnemucca, Nevada (“Getchell” or the “Getchell Project”). Getchell Project is located at the intersection of the Getchell gold belt and the Battle Mountain-Eureka trend immediately south of Nevada Gold Mines’ Turquoise Ridge operation. Open pit mining occurred on the property between 1980 and 1999 and underground test mining (the Pinson Mine) was conducted in the early 2010s. The Project currently hosts both a high grade open-pit and underground deposits (see table 1 below) and the Pinson Mine has been in care and maintenance since 2015.

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Buyer(S) 1

Buyer

i-80

Reno, Nevada, United States
Category Company
Founded 2020
Sector Metals/Mining
Revenue 55M USD (2023)
DESCRIPTION

i-80 is a Nevada-focused mining company with a goal of achieving mid-tier gold producer status. In addition to its producing mine, El Nino at South Arturo, i-80 is beginning to plan for future production growth through the potential addition of the Phases 1 & 3 projects at South Arturo and advancing the development of the Company’s Getchell and McCoy-Cove Projects. i-80 was founded in 2020 and is based in Reno, Nevada.

DEAL STATS #
Overall 1 of 2
Sector (Metals/Mining) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Nevada) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-27 Paycore Minerals

Toronto, Ontario, Canada

Paycore Minerals a 100% interest in the FAD Property that is located in the heart of the Eureka-Battle Mountain trend in Nevada, USA. The FAD Property is host to the high-grade polymetallic FAD deposit that was partially delineated with surface and underground drilling in the 1940s and 1950s. The FAD Property is located less than 3 miles from Eureka, Nevada and has established infrastructure, including a shaft, roads and old buildings. Paycore Minerals is based in Toronto, Ontario.

Buy -

Seller(S) 1

SELLER

Waterton Global Resource Management

Investor

Category Private Equity Firm
Founded 2009
PE ASSETS 1.7B USD
Size Large
Type Sector Focused
DESCRIPTION

Waterton Global Resource Management is a Canadian private investment group focused on the metals and mining sector. Waterton looks to invest $10 to $250 million in production-focused, precious and base metal assets. Waterton Global Resource Management was formed in 2009 and is based in Toronto, Ontario.

DEAL STATS #
Overall 1 of 2
Sector (Metals/Mining) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Nevada) 1 of 1
Country (United States) 1 of 2
Year (2021) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-15 Timberline

Coeur d'Alene,, Idaho, United States

Timberline is a gold exploration and development company with its flagship gold-silver property in the Eureka District. The Eureka property includes the historical Lookout Mountain and Windfall mines in a total property position of approximately 27 square miles (70 square kilometers). Timberline was founded in 1968 and is based in Coeur d'Alene, Idaho.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-16 Timberline

Coeur d'Alene,, Idaho, United States

Timberline is a gold exploration and development company with its flagship gold-silver property in the Eureka District. The Eureka property includes the historical Lookout Mountain and Windfall mines in a total property position of approximately 27 square miles (70 square kilometers). Timberline was founded in 1968 and is based in Coeur d'Alene, Idaho.

Sell $19M
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