INTEGRA PROVIDES 2026 GUIDANCE AND THREE-YEAR OUTLOOK HIGHLIGHTING PRODUCTION GROWTH AT FLORIDA CANYON GOLD MINE
Rhea-AI Summary
Integra Resources (NYSE American: ITRG) provided 2026 guidance and a three-year outlook focused on production growth at the Florida Canyon mine, plus development spending for DeLamar and Nevada North.
Key figures: 2026 production 70,000–75,000 oz, 2027–28 ~80,000–90,000 oz, 2026 cash cost $1,900–$2,100/oz, AISC $2,750–$2,950/oz, sustaining capex $62–68m, growth capex $7.5–9.5m, and $35–40m for project advancement.
Positive
- 2026 production guidance of 70,000–75,000 ounces at Florida Canyon
- 2027–2028 production outlook of ~80,000–90,000 ounces per year
- Sustaining capex planned $62.0–$68.0 million to support pit expansion and fleet rebuilds
- DeLamar advancement funding of $35.0–$40.0 million for engineering, permitting and long‑lead procurement
- Nevada North allocation of ~$10–15 million within advancement budget for test work and drilling
Negative
- 2026 cash cost guidance elevated to $1,900–$2,100/oz, driven partly by higher gold price assumption
- 2026 Mine‑site AISC guidance of $2,750–$2,950/oz reflecting capital‑intensive stripping and fleet financing
- High sustaining spend with ~55% of sustaining capex allocated to H1 2026, pressuring near‑term cash flow
- Significant pre‑production capital at DeLamar $38.0–$42.0 million increases near‑term cash requirements
Key Figures
Market Reality Check
Peers on Argus
ITRG was up about 4% while only one scanned peer (ASM) showed momentum, up about 2.19%. Other peers had mixed, generally smaller moves, suggesting this guidance is driving a stock-specific move rather than a broad sector rotation.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 18 | TSX Venture 50 award | Positive | +4.1% | Recognition as a top TSX Venture 50 performer with strong 2025 share gains. |
| Feb 17 | Land acquisition | Positive | -3.6% | US$12.5M purchase of 6,600-acre ranch consolidating land around DeLamar. |
| Feb 09 | Financing closed | Positive | +5.5% | Closing of US$61.6M bought deal to fund DeLamar pre‑production capital. |
| Feb 04 | Financing announced | Neutral | -3.1% | Announcement of US$55.0M bought deal equity financing for DeLamar spending. |
| Feb 02 | Feasibility study | Positive | -2.7% | Feasibility Study for DeLamar heap leach project with strong economics and returns. |
Recent news has mostly been positive (financing, feasibility, recognition). Reactions are mixed: some financings and accolades saw gains, while strong DeLamar economics and a strategic land deal saw short-term selloffs, indicating occasional profit-taking on good news.
Over the past month, Integra announced a DeLamar Feasibility Study on Feb 2, showing robust project economics, followed by a US$55M bought deal on Feb 4 and a completed US$61.6M financing on Feb 9 to fund pre‑production work. A strategic 6,600‑acre land acquisition near DeLamar came on Feb 17, and recognition in the 2026 TSX Venture 50 was reported on Feb 18. Today’s multi‑year production and cost outlook builds on this financing and project‑de‑risking sequence.
Market Pulse Summary
This announcement outlines a three‑year plan for Florida Canyon, with 2026 gold output of 70,000–75,000 oz and higher production targeted for 2027–2028, alongside detailed cash cost and AISC guidance. It also frames substantial 2026 spending at DeLamar and Nevada North within a broader U.S.-focused growth strategy. In light of recent financings and the DeLamar Feasibility Study, investors may watch execution on stripping, fleet upgrades, permitting milestones, and project advancement against the stated timelines.
Key Terms
all-in sustaining costs financial
non-gaap measures financial
heap leach technical
national environmental policy act regulatory
nepa regulatory
fast-41 regulatory
environmental impact statement regulatory
record of decision regulatory
AI-generated analysis. Not financial advice.
TSXV: ITR; NYSE American: ITRG
www.integraresources.com
(All amounts in
Guidance Summary
Unit (1) | Guidance Range | |
Florida Canyon Mine | ||
2026 Gold Production | oz | 70,000 - 75,000 |
2027 Gold Production | oz | 80,000 - 90,000 |
2028 Gold Production | oz | 80,000 - 90,000 |
2026 Total Cash Cost(2) | $/oz sold | |
2026 Mine-Site All-In Sustaining Costs ("AISC")(2) | $/oz sold | |
2026 Sustaining Capital Expenditures and Leases | $m | |
2026 Non-Sustaining (Growth) Capital Expenditures | $m | |
Development Projects | ||
2026 DeLamar and Nevada North Project Advancement Expenses | $m | |
2026 DeLamar Pre-Production Capital Expenditures and Land Acquisitions | $m | |
Corporate | ||
2026 General and Administrative Expenses(3) | $m |
(1) | Unit abbreviations: oz = troy ounce, $/oz sold = |
(2) | Non-GAAP measure. Refer to the "Non-GAAP Measures" section of this news release. Cost guidance calculated using an assumed average gold price of |
(3) | Excludes non-cash stock-based compensation expense and depreciation expense. |
George Salamis, President, CEO and Director of Integra commented: "Florida Canyon is performing as intended following its acquisition, providing Integra with a stable, cash-generating foundation that de-risks the business while helping fund future portfolio growth. Our 2026 plan prioritizes operational reliability, maintenance discipline, and targeted reinvestment to strengthen the operation, extend mine life, and position Florida Canyon as a sustainable, high-quality producing asset rather than a transitional one. While these initiatives — including elevated stripping and infrastructure upgrades — result in higher near-term costs, they are designed to support higher production levels and improved cost performance in 2027 and 2028.
Our sequencing strategy is focused on maximizing predictable cash flow, preserving balance-sheet flexibility, and supporting the advancement of DeLamar from a position of strength. Investments in safety systems, water security, fleet reliability, leach pad planning, and mine technology reflect a deliberate approach to reducing operational risk before pursuing accelerated growth. In parallel, exploration and technical optimization programs are aimed at organically growing ounces around existing infrastructure and enhancing long-term asset value.
Integra's strategy remains centered on building a durable,
2026 Production, Cost, and Growth Outlook – Florida Canyon Mine
Gold production from the Florida Canyon Mine ("Florida Canyon" or the "Mine") is expected to be 70,000 to 75,000 ounces in 2026 with approximately
Cash costs at Florida Canyon are expected to range from
Sustaining capital expenditures of approximately
Mine-Site AISC at Florida Canyon is expected to range from
Growth capital between
2026-2028 Production Outlook – Florida Canyon Mine
Sustaining and growth investments made in 2025 and 2026 are expected to support increased annual gold production at Florida Canyon of approximately 80,000 to 90,000 ounces per year in 2027 and 2028. This improved gold production profile is driven by targeted pit expansion and continued investment in the mobile mining fleet.
Continuing from the investments made in 2025, approximately
The Company also made significant investments into its mobile fleet in 2025, with further upgrades continuing into 2026. Key investment areas include the purchase of new equipment such as an excavator, a loader, eight haul trucks and several auxiliary pieces as well as rebuilding several existing pieces of mobile equipment. This work is expected to enhance operating capacity, productivity and overall mining performance.
2026 Development Outlook – The DeLamar Project and the Nevada North Project
Integra remains committed to advancing its flagship development-stage heap leach projects: the past producing DeLamar Project ("DeLamar") located in southwestern
At DeLamar, efforts in 2026 will focus on advancing and de-risking the project through detailed engineering, long lead equipment procurement, and permitting advancement under the National Environmental Policy Act ("NEPA"), guided by the federally regulated FAST-41 guidelines. In January 2026 the United States Bureau of Land Management ("BLM") formally established a federal permitting schedule under NEPA for DeLamar. The BLM-defined schedule contemplates publication of a Notice of Intent ("NOI") in the second quarter of 2026, followed by an anticipated 15-month NEPA review period, culminating in the issuance of an Environmental Impact Statement ("EIS") and Record of Decision ("ROD") in the third quarter of 2027. In addition to project advancement spending at DeLamar, a total of
Nevada North consists of two mineral exploration deposits, the Wildcat Deposit ("Wildcat") and the Mountain View Deposit ("Mountain View"). At Nevada North, the Company has allocated approximately
About Integra Resources
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").
Cautionary Note Regarding Non-GAAP Financial Measures
Alternative performance measures in this news release such as "cash cost", "AISC" and "capital expenditures" are furnished to provide additional information. These non-GAAP performance measures are included in this news release because these statistics are used as key performance measures that management uses to monitor and assess performance and plan and assess the overall effectiveness and efficiency of mining operations. These performance measures do not have a standardized meaning within International Financial Reporting Standards ("IFRS") and, therefore, amounts presented may not be comparable to similar data presented by other mining companies. These performance measures should not be considered in isolation as a substitute for measures of performance in accordance with IFRS.
Cash costs and AISC
Cash costs are a non-GAAP financial metric which includes production costs, and royalties and excise taxes. Management uses this measure to monitor the performance of its mining operation and ability to generate positive cash flow on a site basis.
AISC starts with cash costs and includes general and administrative costs, reclamation accretion expense and sustaining capital expenditures. Management uses this measure to monitor the performance of its mining operation and ability to generate positive cash flow on an overall company basis.
Capital expenditures
Capital expenditures are classified into sustaining capital expenditures or non-sustaining capital expenditures depending on the nature of the expenditure. Sustaining capital expenditures are those required to support current production levels. Non-sustaining capital expenditures represent the capital spending at new projects and major, discrete projects at existing operations intended to increase production or extend mine life. Management believes this to be a useful indicator of the purpose of capital expenditures and this distinction is an input into the calculation of AISC.
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.
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.
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SOURCE Integra Resources Corp.