INTEGRA ANNOUNCES FOURTH QUARTER AND FULL YEAR 2025 GOLD PRODUCTION RESULTS FROM FLORIDA CANYON MINE, ACHIEVING PRODUCTION GUIDANCE AND SIGNIFICANT CAPITAL REINVESTMENT
Rhea-AI Summary
Integra Resources (NYSE American: ITRG) reported Florida Canyon produced 70,927 oz of gold in 2025, meeting its full‑year guidance of 70,000–75,000 oz. The company completed approximately $60 million of planned capital investment at Florida Canyon across mining, infrastructure, equipment and growth drilling, and finished the year with $63.09 million in cash and cash equivalents. Key 2025 initiatives included construction of the Phase IIIb heap leach pad (regulatory leaching approval expected Q1 2026), fleet modernization with multiple new and refurbished large mining machines, an expanded 2025 drill program (16,000 m planned), and advancement of DeLamar through feasibility and federal permitting.
Q4 2025 production was 12,864 oz after a temporary liner tear reduced solution flow; the Company estimates approximately 2,000–3,000 oz were deferred and expect recovery through ongoing leaching in 2026. Final audited results will be released March 24, 2026, with a conference call on March 25, 2026.
Positive
- Full‑year gold production of 70,927 oz met 2025 guidance
- Completed ~$60 million of planned capital investment at Florida Canyon
- Cash and cash equivalents of $63,086,000 at December 31, 2025
- Retired convertible debt facility in 2025, strengthening the balance sheet
- Phase IIIb heap leach pad construction completed; leaching approval expected Q1 2026
- Commissioned multiple new mining machines and expanded fleet to lower operating costs
Negative
- Q4 2025 gold production temporarily reduced to 12,864 oz due to a liner tear
- Estimated 2,000–3,000 oz of gold were deferred in Q4 and expected to be recovered in 2026
- Capital‑intensive program: ~$20 million allocated in Q4 and ~$60 million in 2025 (sustaining and growth)
News Market Reaction
On the day this news was published, ITRG gained 0.22%, reflecting a mild positive market reaction. Argus tracked a trough of -13.1% from its starting point during tracking. Our momentum scanner triggered 36 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $2M to the company's valuation, bringing the market cap to $779M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
ITRG gained 3.36% while key peers NEWP (-3.8%), ASM (-8.43%), MTA (-1.99%), MUX (-6.77%), and SLSR (-4.24%) declined, pointing to stock-specific strength rather than a sector-wide move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 17 | Feasibility Study | Positive | +1.7% | Released robust DeLamar heap leach Feasibility Study with strong economics. |
| Dec 22 | Debt retirement | Positive | +0.9% | Completed full conversion and repayment of Beedie Capital convertible debenture. |
| Dec 23 | Ownership reorg | Neutral | -0.7% | Beedie completed internal reorganization of Integra share and warrant holdings. |
| Jan 12 | Permitting schedule | Positive | +7.4% | BLM set NEPA permitting schedule for DeLamar with targeted 2027 Record of Decision. |
| Jan 14 | FAST-41 selection | Positive | -2.1% | DeLamar heap leach project selected for federal FAST-41 transparency program. |
Recent positive project and financing updates often saw aligned price moves, though one major permitting win drew a modest negative reaction.
Over the past months, Integra has focused on de-risking and advancing its DeLamar project while strengthening its balance sheet. A December 2025 Feasibility Study highlighted robust economics, followed by a formal federal permitting schedule and later inclusion in the FAST-41 Transparency Program, framing a clearer path toward a targeted Record of Decision in Q3 2027. Concurrently, the Beedie Capital convertible debenture was fully converted and repaid, and a key shareholder reorganized its holdings. Today’s Florida Canyon production update builds on that trajectory by showing operating delivery alongside reinvestment.
Market Pulse Summary
This announcement highlights that Florida Canyon delivered 70,927 oz of gold in 2025, achieving guidance while funding roughly $60 million of capital reinvestment, including a new heap leach pad and fleet upgrades. Cash of 63,086 ($000s) underscores available liquidity heading into 2026. Investors may watch for the upcoming 2026 production and cost guidance, the mid‑2026 technical report and mine plan, and continued progress at DeLamar and Nevada North to assess how reinvestment translates into long-term value.
Key Terms
heap leach pad technical
strip ratio technical
reverse circulation technical
Pre-Feasibility Study technical
Feasibility Study technical
convertible debt facility financial
AI-generated analysis. Not financial advice.
(All amounts in
2025 Operational Highlights:
- The Florida Canyon Mine ("Florida Canyon") delivered 70,927 ounces of gold, meeting full year production guidance of 70,000–75,000 gold ounces.
- The Company completed approximately
$60 million - Numerous significant advancements were made relating to mine flexibility, infrastructure, and equipment, positioning Florida Canyon for improved production, consistency, and growth in 2026.
- Cash flow generated by Florida Canyon supported the achievement of several key initiatives in 2025:
- Major mine reinvestment at Florida Canyon ahead of an updated technical report in mid-2026, incorporating an updated mineral reserve and resource statement and life-of-mine mine plan.
- Advanced the DeLamar Project ("DeLamar") through Feasibility Study and into Federal mine permitting.
- Advanced Nevada North Project ("Nevada North") toward a Pre-Feasibility Study and completed important pre-permitting activities.
- Supported corporate level costs and strengthened balance sheet by significantly increasing annual cash balance and completed full retirement of convertible debt facility.
George Salamis, President, CEO and Director of Integra commented: "2025 marked a pivotal year for Integra as the Company successfully completed its first full year of production at Florida Canyon, while executing a deliberate and capital-intensive reinvestment strategy. In our first full year as a gold producer, we met our annual production guidance while advancing several foundational initiatives, namely a heap leach pad expansion, significant capitalized stripping, growth drilling, and a wide-spanning fleet modernization initiative. These initiatives were specifically designed to improve operational reliability and flexibility, supporting long-term operating performance and growth.
Importantly, cash flow from Florida Canyon funded not only these mine-site investments, but also technical advancement, de-risking and advanced permitting initiatives at DeLamar and Nevada North, validating the strategic rationale behind acquiring Florida Canyon in late 2024. With major capital projects now well underway, Florida Canyon enters 2026 with improved infrastructure, enhanced mining capability, and a stronger platform for consistent production and cash generation to fund other organic growth initiatives.
Following the release of 2026 guidance, expected later in the first quarter, we look forward to sharing our long-term vision for Florida Canyon in mid-2026, supported by an updated reserve and resource estimate and life-of-mine plan, which we believe will highlight an exciting future for the Florida Canyon operation."
Fourth Quarter and Full Year 2025 Florida Canyon Mine Operational Update
Three months ended | Year ended | ||
Unit (1) | 2025 | 2025 | |
Ore mined | kt | 3,418 | 12,047 |
Waste mined | kt | 2,420 | 10,584 |
Strip ratio | waste/ore | 0.71 | 0.88 |
Ore direct to leach pads | kt | 2,008 | 5,646 |
Ore crushed | kt | 1,931 | 7,580 |
Total ore to leach pads | kt | 3,939 | 13,226 |
Processed grade | g/t Au | 0.24 | 0.22 |
Gold recovery rate | % | 59.2 % | 60.1 % |
Gold produced | oz | 12,864 | 70,927 |
Gold sold | oz | 12,920 | 70,919 |
Silver produced | oz | 9,450 | 53,822 |
Silver sold | oz | 8,804 | 52,753 |
(1) Unit abbreviations: kt = 1,000 metric tonnes, g/t = grams per tonne, Au = gold, oz = troy ounce |
(2) Ore milled includes material from stockpiles and ore mined. |
Florida Canyon produced 12,864 ounces of gold and sold 12,920 ounces of gold during the fourth quarter 2025. Production during the quarter was derived from gold placed on the Phase IIIa leach pad, together with residual recovery from Phases I and II. Quarterly production reflected a one-time, temporary reduction in solution flow rates resulting from a liner tear in a solution pond identified during the fourth quarter. The liner was fully repaired by mid-November with no solution releases and no environmental impact. Solution flow rates were restored to normal levels prior to year-end. Preventative measures, including an additional protective liner and improved access to the affected area for personnel and equipment, have been implemented for more effective response in the unlikely event this occurs again in the future. Importantly, gold ounces associated with the reduced solution flow during the quarter were deferred, not lost, and are expected to remain recoverable through continued leaching. Based on leach pad inventories and normalized solution flow, the Company expects the majority of ounces deferred during the fourth quarter—estimated at approximately 2,000 to 3,000 ounces—to be recovered through ongoing leaching throughout 2026.
Despite lower fourth quarter production relative to earlier quarters, Florida Canyon delivered 70,927 ounces of gold for the full year, achieving Integra's 2025 gold production guidance. Recovery rates for the year remained consistent with expectations, and the modest fourth quarter variance reflects timing rather than any change in ore quality or metallurgical performance.
Mining activities during the fourth quarter at Florida Canyon were executed in line with plan, with higher ore placement to the leach pads and reduced waste movement following earlier capitalized stripping campaigns. As a result, the strip ratio declined to 0.71 in the fourth quarter, supporting improved mining efficiency as the mine enters 2026.
During the quarter, Florida Canyon completed construction of the Phase IIIb heap leach pad, with regulatory approval to begin leaching expected in the first quarter of 2026. The Company also advanced its fleet revitalization program with refurbishment of legacy haul trucks and loaders, while commissioning four new machines: a Hitachi EX3600 front shovel, a Caterpillar 992HL loader, and two Caterpillar 785 haul trucks. An additional six Caterpillar 785 haul trucks are expected to be commissioned in the first half of 2026. The upgraded fleet is expected to reduce reliance on expensive rental equipment, enhance productivity, and lower mining costs per tonne over the coming years.
The Company also continued its growth focused drilling program at Florida Canyon in the fourth quarter, completing approximately 3,100 meters of reverse circulation and sonic drilling. The 2025 program, originally planned for approximately 10,000 meters, was subsequently expanded to 16,000 meters due to its initial success. Drilling is focused on three key areas: (1) evaluating near-surface oxide potential from historical waste areas; (2) expanding in-situ resources between existing open pits; and (3) testing lateral extensions and conducting in-pit infill drilling. The program was specifically designed to support future mineral resource and reserve updates aiming to extend mine life at Florida Canyon. The 2025 drill program at Florida Canyon will support a mineral resource and reserve update and a revised life-of-mine plan in mid-2026.
The Company expects to release 2026 production and cost guidance for Florida Canyon in late February 2026.
Fourth Quarter 2025 Financial Position
Financial Position | Unit (1) | December 31, 2025 |
Cash and cash equivalents | $ 63,086 |
(1) Unit abbreviations: |
The fourth quarter 2025 marked a capital intensive period across the Company's portfolio of assets and at the corporate level with several key activities during the quarter:
- Florida Canyon: Approximately
$20 million - DeLamar and Nevada North: Approximately
$6 million - Corporate: Approximately
$8 million
The financial information presented above is preliminary in nature and subject to completion of the Company's year-end financial reporting process. Final audited financial results may differ from these amounts and will be reported as part of the Company's audited year end financial statements. Complete financial results for the fourth quarter and full year 2025 will be reported and filed on Integra's profile on SEDAR+ at www.sedarplus.ca and EDGAR profile at www.sec.gov on Tuesday, March 24, 2026.
Fourth Quarter 2025 Conference Call
Integra will host a conference call and webcast on Wednesday, March 25, 2026, at 11:00 AM Eastern Time / 8:00 AM Pacific Time, to discuss the fourth quarter and full year 2025 results. Details for the conference call and webcast are included below.
Dial-In Numbers / Webcast:
Conference ID: 1860723
Toll Free: (800) 715-9871
Toll: +1 (646) 307-1963
Webcast: https://events.q4inc.com/attendee/743710418
About Integra Resources Corp.
Integra is a growing precious metals producer in the Great Basin of the
ON BEHALF OF THE BOARD OF DIRECTORS
George Salamis
President, CEO and Director
CONTACT INFORMATION:
Corporate Inquiries: ir@integraresources.com
Company website: www.integraresources.com
Office phone: 1 (604) 416-0576
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by James Frost, P.Eng., Director, Technical Services of Integra, who is a "Qualified Person" as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").
Forward Looking Statements
Certain information set forth in this news release contains "forward‐looking statements" and "forward‐looking information" within the meaning of applicable Canadian securities legislation and in applicable
Forward-looking statements are based on a number of factors and assumptions made by management and considered reasonable at the time such statement was made. Assumptions and factors include: the Company's ability to complete its planned exploration and development programs; the absence of adverse conditions at the Company's mineral properties including absence of any equipment or infrastructure failures; no unforeseen operational delays; no material delays in obtaining necessary permits; results of independent engineer technical reviews; the possibility of cost overruns and unanticipated costs and expenses; the price of gold remaining at levels that continue to render the Company's mineral properties economic; the Company's ability to continue raising necessary capital to finance operations; and the ability to realize on the mineral resource and reserve estimates. Forward‐looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward‐looking statements. These risks and uncertainties include, but are not limited to: general business, economic and competitive uncertainties; the actual results of current and future exploration activities; conclusions of economic evaluations; meeting various expected cost estimates; benefits of certain technology usage; changes in project parameters and/or economic assessments as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; the risk that actual costs may exceed estimated costs; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labor disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; risks related to local communities; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); title to properties; and other factors beyond the Company's control and as well as those factors included herein and elsewhere in the Company's public disclosure. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Readers are advised to study and consider risk factors disclosed in Integra's Annual Information Form dated March 26, 2025 for the fiscal year ended December 31, 2024, which is available on the SEDAR+ issuer profile for the Company at www.sedarplus.ca and available as Exhibit 99.1 to Integra's Form 40-F, which is available on the EDGAR profile for the Company at www.sec.gov.
Investors are cautioned not to put undue reliance on forward-looking statements. The forward-looking statements contained herein are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any intent or obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of assumptions or factors, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. Investors are urged to read the Company's filings with Canadian securities regulatory agencies, which can be viewed online under the Company's profile on SEDAR+ at www.sedarplus.ca.
Cautionary Note for U.S. Investors Concerning Mineral Resources and Reserves
NI 43-101 is a rule of the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Technical disclosure contained in this news release has been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Classification System. These standards differ from the requirements of the
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
View original content to download multimedia:https://www.prnewswire.com/news-releases/integra-announces-fourth-quarter-and-full-year-2025-gold-production-results-from-florida-canyon-mine-achieving-production-guidance-and-significant-capital-reinvestment-302670347.html
SOURCE Integra Resources Corp.
FAQ
How much gold did Integra (ITRG) produce at Florida Canyon in 2025?
What caused lower gold output in Q4 2025 for ITRG's Florida Canyon mine?
How much did Integra invest in Florida Canyon in 2025 and what were the uses?
What is Integra's cash position at year‑end 2025 (ITRG)?
When will Integra (ITRG) release final 2025 financial results and hold the earnings call?
What near‑term operational milestones does Integra expect at Florida Canyon in 2026?
