The Globe and Mail reports in its Friday, May 24, edition that Stifel analyst Stephen Soock has reaffirmed his "buy" recommendation for I-80 Gold. The Globe's David Leeder writes that Mr. Soock gave his share target a 65-cent trim to $4.10. Analysts on average target the shares at $4.18. Mr. Soock says in a note: "Following the recent successful equity raise of $115-million, we are updating our valuation. This cash injection (along with revenue from Granite Creek ore sales) provides runway through to 2H25, funding initial construction of the Ruby Hill base metals mine. This is a key to establishing cash flow to fund the rest of the growth pipeline, culminating in 230koz/yr produced from the Lone Tree autoclave (generating $270-million per year in site level FCF at spot prices). Our NAV has decreased due to the equity dilution and cash flow timeline and we are revising our target price to $4.10 per share. ... [We] think the stock trades too cheap for a company with assets in an ultra-low-risk jurisdiction, with a differentiated asset that sets it up to be a consolidator and runway to generate significant free cash flow. Watch for Ruby Hill JV announcement, construction decision and SPZ inaugural resource."