Operator

Hello, and thank you for joining i-80 Gold's 2026 First Quarter Results Conference Call and Webcast. Today's company presenters include Richard Young, President and Chief Executive Officer of i-80 Gold; Paul Chawrun, COO; and Ryan Snow, CFO.

Before we continue, please note that today's comments may contain forward-looking statements, which involve risks and uncertainties. Actual results could differ materially. I ask everyone to refer to Slide 2 of the presentation, which is available on i-80 Gold's website to view the cautionary notes regarding the forward-looking statements made on this call and the risk factors related to these statements. All amounts are in U.S. dollars unless otherwise stated. Following today's formal presentation, we will open up the call to your questions.

I'll now hand the call over to Richard.

Richard Young
President, CEO & Director

Well, thank you, Vincent, and hello, and thank you for joining today's call. Starting with Slide 3. We're off to a strong start in 2026, advancing our growth strategy to create a Nevada-based mid-tier gold producer. We are pleased to now have the recapitalization behind us as we completed the recap in the first quarter, a task that took about 12 months to complete through a series of financing transactions, we've secured over $1 billion, providing funding certainty, paying off legacy debt and derisking our development plan.

With the recapitalization complete, we believe we are now fully funded to advance Phase 1 and Phase 2 of our development plan, which currently include the refurbishment and commissioning of our centralized Lone Tree processing facility, development of 3 underground projects to