Newmont Corporation

(New York Stock Exchange)
Back to all articles
Bullish +75

Comeback of the Giants: Why Nevada's Forgotten Mines Offer the Best Leverage – Lahontan Gold, Newmont, i-80 Gold - news.financial

AI-generated analysis

πŸ“ˆ Nevada has re-emerged as a global gold hotspot due to geopolitical instability and a shift toward real assets.

πŸ’° Newmont reported record Q1 2026 free cash flow of USD 3.1 billion with all-in sustaining costs of USD 1,029/oz.

πŸ—οΈ i-80 Gold secured over USD 1 billion in capital and plans a USD 430 million refurbishment of the Lone Tree processing plant.

⛏️ Lahontan Gold targets the reactivation of the Santa Fe Mine with a proven resource of 1.95 million ounces gold equivalent.

πŸ“Š Lahontan's feasibility study projects an after-tax NPV of USD 200 million and annual production of 70,000-80,000 ounces starting in 2027.

πŸ”¬ Recent drilling at West Santa Fe found 3.11 g/t gold equivalent over 36.6 meters directly from surface.

βš—οΈ Lahontan's mineralization is flat-lying and oxidized, ideal for an efficient heap-leaching process with 81% cyanide-gold recovery.

πŸ’΅ Lahontan successfully completed a financing round of CAD 13.6 million to fund rapid permitting.

Bullish Signals
  • Nevada offers legal certainty and planning reliability, making it a preferred region for gold production amidst global instability.
  • Newmont demonstrates that first-class infrastructure and stability are ultimate success factors in turbulent times.
  • i-80 Gold has successfully navigated the transition from explorer to developer with a clear production pipeline and secured significant capital.
  • Lahontan minimizes geological risk by utilizing historical data on the Santa Fe Mine rather than starting from scratch.
  • The Santa Fe Mine possesses a proven resource of 1.95 million ounces gold equivalent, providing a solid foundation for production.
  • Recent drill results at West Santa Fe show high-grade mineralization (3.11 g/t AuEq) directly from surface, indicating enormous exploration potential.
  • Lahontan's metallurgy is highly efficient with an 81% cyanide-gold recovery rate, significantly reducing technical risk.
  • The company is fully funded with CAD 13.6 million, allowing it to rapidly advance the permitting process without immediate capital constraints.
Risk Factors
  • Newmont and Barrick's sheer size leaves little room for spectacular price gains compared to smaller peers.
  • Much of i-80 Gold's value creation related to its Lone Tree plant refurbishment may already be priced into the current share price.
Full Analysis
The article highlights a resurgence in Nevada's gold mining sector driven by geopolitical instability, monetary policy shifts, and rising gold prices approaching $4,500/oz. It argues that savvy investors are pivoting from high-risk greenfield exploration to brownfield projects with existing infrastructure and legal certainty. The piece identifies three key companies: Newmont Corp., i-80 Gold Corp., and Lahontan Gold Corp., positioning them as leaders in stability, mid-tier leverage, and ultimate leverage respectively. Newmont is presented as a stable core investment with record Q1 2026 free cash flow of $3.1 billion and all-in sustaining costs of $1,029/oz, though its large size limits explosive price gains. i-80 Gold is noted for securing over $1 billion in capital and planning a $430 million refurbishment of the Lone Tree processing plant to achieve independence from third-party suppliers, though much of this value may already be priced in. Lahontan Gold is featured as the primary investment opportunity, focusing on reactivating the Santa Fe Mine with a proven resource of 1.95 million ounces gold equivalent. The company boasts an after-tax NPV of $200 million and projected annual production of 70,000-80,000 ounces starting in 2027. Recent drilling at the West Santa Fe satellite project yielded high-grade results (3.11 g/t AuEq over 36.6m), and the company is fully funded with CAD 13.6 million to advance permitting.