INTEGRA REPORTS FIRST QUARTER 2026 RESULTS; RECORD TOTAL TONNES MINED, AND STRENGTHENED FINANCIAL POSITION
Rhea-AI Summary
Integra Resources (NYSE American: ITRG) reported Q1 2026 revenue of $61.7 million and net earnings of $12.5 million ($0.06/share), up from $57.0 million and $1.0 million a year earlier.
Florida Canyon delivered record total tonnes mined (6.9Mt) and a record realized gold price of $4,854/oz, though gold sales fell to 12,518 oz. Mine operating earnings rose to $24.9 million with a 40% margin. Cash and equivalents increased to $105.8 million, supported by a $61.6 million bought deal financing, while free cash flow declined to $3.0 million. Cash costs of $2,422/oz and Mine-site AISC of $3,310/oz were above 2026 guidance ranges.
AI-generated analysis. Not financial advice.
Positive
- Revenue rose to $61.7M from $57.0M year-over-year
- Mine operating earnings increased to $24.9M with a 40% margin
- Net earnings improved to $12.5M or $0.06/share
- Cash and cash equivalents grew to $105.8M; working capital to $139.7M
- Completed $61.6M bought deal financing and commissioned six new haul trucks
- Filed DeLamar feasibility study confirming a low-cost open pit heap leach operation
Negative
- Gold produced and sold declined to 12,635 oz and 12,518 oz from 19,323 oz and 19,540 oz
- Cash costs rose to $2,422/oz and Mine-site AISC to $3,310/oz, above guidance ranges
- Operating cash flow fell to $13.8M from $15.7M
- Free cash flow decreased to $3.0M from $9.7M
- Sustaining capital spending increased to $10.8M from $6.0M, pressuring near-term free cash flow
Key Figures
Market Reality Check
Peers on Argus
Momentum scanner shows no peers in active momentum, but several Basic Materials peers gained between 1.56% and 4.59%, suggesting stock-specific focus on Integra’s Q1 2026 results.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Mar 24 | Q4/FY 2025 results | Positive | +0.0% | Reported record FY 2025 adjusted earnings and strong Florida Canyon production. |
| Nov 12 | Q3 2025 results | Positive | -5.8% | Record Q3 2025 revenue and mine earnings but GAAP loss from derivative losses. |
| Aug 13 | Q2 2025 results | Positive | +0.6% | Record Q2 2025 revenue and operating margin with lower cash costs. |
| Jul 17 | Q2 2025 production | Positive | -0.7% | Consistent Q2 2025 production and higher cash balance ahead of full results. |
| May 14 | Q1 2025 results | Positive | -3.3% | Strong Q1 2025 mine performance and rising cash with DeLamar progress. |
Earnings releases have generally been positive operationally, yet the stock has often seen flat to negative next-day moves, leading to a slightly negative average reaction.
Over the past year, Integra’s earnings reports highlighted growing production and revenue at Florida Canyon, with record metrics in multiple quarters. Prior updates showed rising cash balances, strong operating margins, and continued investment in fleet upgrades and growth projects like DeLamar and Nevada North. However, share-price reactions around these earnings were mixed, with several positive quarters followed by flat or negative moves. Today’s Q1 2026 release, featuring higher revenue, earnings, and cash, fits the pattern of operational strength amid a cautious market response history.
Historical Comparison
Past earnings releases averaged a -1.84% move despite strong operations. Today’s Q1 2026 earnings, with higher revenue and cash, come against that backdrop of cautious market reactions.
Earnings updates show Florida Canyon scaling production and cash generation while funding DeLamar and Nevada North, moving from strong 2025 results into a more capital-intensive 2026 growth phase.
Market Pulse Summary
This announcement details Q1 2026 results showing revenue of $61.7M, mine operating earnings of $24.9M, and net earnings of $12.5M, alongside record mining rates at Florida Canyon. Cash increased to $105.8M following a $57.5M bought deal, supporting DeLamar and Nevada North spending. However, cash costs of $2,422/oz and Mine-site AISC of $3,310/oz exceeded guidance. Investors may watch future quarters for cost normalization, execution on growth drilling, and permitting milestones at DeLamar.
Key Terms
mine-site aisc financial
cash costs financial
non-gaap financial measure financial
feasibility study technical
heap leach technical
bought deal public offering financial
AI-generated analysis. Not financial advice.
TSXV: ITR; NYSE American: ITRG
www.integraresources.com
(All amounts expressed in
First Quarter 2026 Highlights:
- Mined 3.0M tonnes of ore and 3.9M tonnes of waste at a strip ratio of 1.30 at the Florida Canyon Mine (the "Florida Canyon Mine" or "Florida Canyon" or the "Mine") for Q1 2026. As a result, ore mining rates were 33,421 tonnes per day ("tpd") and total tonnes mined were 76,800 tpd, a record for the Mine.
- In Q1 2026, Florida Canyon produced 12,635 gold ounces and sold 12,518 gold ounces at a record average realized price of
$4,854 - Quarterly revenue of
$61.7 million $57.0 million - Mine operating earnings of
$24.9 million $15.5 million 40% in Q1 2026 was improved from the27% operating margin recorded in Q1 2025. - Q1 2026 adjusted earnings(1) of
$12.9 million $0.07 $4.4 million $0.03 - Q1 2026 net earnings of
$12.5 million $0.06 $1.0 million $0.01 - Cash costs(1) averaged
$2,422 $3,310 - Operating cash flow of
$13.8 million $15.7 million $12.1 million - Free cash flow(1) was
$3.0 million $0.02 - Cash and cash equivalents of
$105.8 million $63.1 million $57 - The Company commissioned six new Caterpillar 785 haul trucks during the quarter, materially enhancing mining capacity and supporting higher sustained mining rates going forward.
- The Company raised gross proceeds of
$61.6 million $57 $4.1 million $12.5 million - Continued advancement of the resource growth drilling program at Florida Canyon in Q1 2026. The drilling program marks the first phase of a multi-year growth strategy designed to expand mineral reserves and resources. The Florida Canyon technical report is on track and expected to be released in the third quarter of 2026.
- Continued engagement with stakeholders across
Nevada ,Idaho , andOregon , including local communities, civic and non-profit organizations, government officials, and Tribal Nations. - The Company filed its Feasibility Study Technical Report ("FS") for the DeLamar Project on February 2, 2026, with an effective date of December 8, 2025. The FS for DeLamar confirmed robust economics for a low-cost, large-scale, conventional open pit oxide heap leach operation, with competitive operating costs and a high rate of return.
(1) | Refer to the "Non-GAAP Financial Measures" disclosure at the end of this news release and associated MD&A for a description and calculation of these measures. |
George Salamis, President, CEO and Director of Integra commented:
"Q1 2026 demonstrated the continued strength of Integra's transformation into a growing and profitable
In parallel, we significantly strengthened our balance sheet through a successful bought deal financing, ending the quarter with more than
Financial and Operating Highlights
Unit abbreviations in tables: kt = thousand tonnes, g/t = grams per tonne, Au = gold, oz = troy ounce,
Three months ended March 31, | |||
Operating Highlights | Unit | 2026 | 2025 |
Ore mined | kt | 3,008 | 3,021 |
Waste mined | kt | 3,902 | 1,799 |
Total Mined | kt | 6,910 | 4,820 |
Crushed ore to pad | kt | 1,784 | 1,764 |
Run of mine ore to pad | kt | 1,074 | 1,199 |
Total placed | kt | 2,858 | 2,963 |
Strip ratio | waste/ore | 1.30 | 0.60 |
Ore mined/day | tpd | 33,421 | 33,572 |
Total mined/day | tpd | 76,772 | 53,555 |
Gold | |||
Average grade | g/t | 0.19 | 0.23 |
Recovery | % | 59.9 % | 60.4 % |
Produced | oz | 12,635 | 19,323 |
Sold | oz | 12,518 | 19,540 |
Three months ended March 31, | |||
Financial Highlights | Unit | 2026 | 2025 |
Revenue | $ millions | 61.7 | $ 57.0 |
Cost of sales | $ millions | (36.9) | $ (41.5) |
Mine operating earnings | $ millions | 24.9 | $ 15.5 |
Earnings for the period | $ millions | 12.5 | $ 1.0 |
Earnings per share (basic) | $/share | 0.06 | $ 0.01 |
Adjusted earnings for the period(1) | $ millions | 12.9 | $ 4.4 |
Adjusted earnings per share (basic)(1) | $/share | 0.07 | $ 0.03 |
Operating cash flow | $ millions | 13.8 | $ 15.7 |
Operating cash flow per share (basic) | $/share | 0.07 | $ 0.09 |
Free cash flow(1) | $ millions | 3.0 | $ 9.7 |
Free cash flow per share (basic) | $/share | 0.02 | $ 0.06 |
Cash costs(1) | $/oz sold | 2,422 | $ 2,016 |
Mine-site AISC(1) | $/oz sold | 3,310 | $ 2,342 |
(1) | Non-GAAP financial measure. Refer to the "Non-GAAP Financial Measures" section of this news release. |
Financial Position | March 31, 2026 | December 31, 2025 | |
Cash and cash equivalents | $ millions | $ 105.8 | $ 63.1 |
Working capital(1) | $ millions | $ 139.7 | $ 92.9 |
(1) | Non-GAAP financial measure. Refer to the "Non-GAAP Financial Measures" section of this news release. |
Mining
In Q1 2026, the Company mined 3.0M tonnes of ore from its open pit operations at Florida Canyon, consistent with tonnes mined in Q1 2025. The Company also mined 3.9M tonnes of waste in Q1 2026 in line with plan, resulting in a strip ratio of 1.30, up from 1.8M tonnes of waste and a strip ratio of 0.60 in Q1 2025. The higher strip ratio in Q1 2026 results from the Company's stated commitment of reinvestment through increased capitalized waste stripping and ramping up new mining areas, as outlined in its 2026 guidance.
Mining activities at Florida Canyon during the first quarter 2026 increased significantly, achieving a record mining rate of 76,800 total tonnes per day and positioning the operation to deliver improved operational flexibility and production consistency in future quarters. This increase was driven by the addition of the six Caterpillar 785 haul trucks commissioned during the quarter, completing the expansion of the fleet since 2025 to include eight Caterpillar 785 haul trucks, one Caterpillar 992HL loader and one Hitachi EX3600 front shovel. With increased haulage capacity and an enhanced mining fleet, the operation is better equipped to manage the historical waste stripping inherited from prior operators.
The Company expects production to trend higher through the balance of 2026 as mining rates remain elevated and leach pad performance continues to normalize.
Production
In Q1 2026, the Company produced 12,635 ounces of gold, compared to 19,323 ounces in Q1 2025. Approximately 3,000 ounces were deferred from current quarter production due to temporarily reduced solution flow rates to a specific Phase II leach pad cell. The cell contains fine ore from the newly opened N2 pit, and a blending strategy has been developed to maintain nominal leach rates for this fine material. With this approach, together with the ramp up of the Phase IIIB leach pad, the Company expects to meet its annual gold production guidance of 70,000 to 75,000 ounces, with the majority of deferred first quarter ounces expected to be recovered through ongoing leaching over the remainder of 2026.
Average gold process recoveries were
Sustaining and Non-sustaining Capital
The first quarter of 2026 continued to mark a capital-intensive period across the Company's portfolio of assets with several key activities during the quarter. These investments reflect a deliberate focus on de-risking the portfolio and positioning the Company for sustainable production growth.
In Q1 2026, the Company invested
The Company also invested
These expenditures are in line with the Company's 2026 Guidance.
Cash Costs and Mine-site AISC
Cash costs averaged
Royalties and excise taxes, which constitute a material component of cash costs and Mine-site AISC, are directly impacted by fluctuations in the gold price. The Company's guidance assumed an average gold price of
Exploration
In Q1 2026, the Company completed 8,530 meters of its 42,500 meter 2026 growth focused drilling program at Florida Canyon. The 2026 program continues on the success of the 2025 program focusing on four key areas: (1) Resource development at the Florida Canyon Mine Property; (2) underexplored extensions of Florida Canyon gold mineralization; (3) Standard Mine area targets; and (4) greenfield exploration targets. The program is specifically designed to support resource and reserve growth and extend mine life at Florida Canyon.
Program expenditures totaled
Selected Q1 Financial Results
Revenue
In Q1 2026 the Company sold 12,518 ounces of gold at average realized prices of
Net Earnings
During the three months ended March 31, 2026, net earnings were
Q1 2026 adjusted earnings of
Cash Flow
Cash flows provided by operations in Q1 2026 totaled
During the first quarter, the Company made payments of
Q1 2026 free cash flow generated of
Financial Position
As at March 31, 2026, the Company had a cash and cash equivalent balance of
The Company's working capital was
Development Projects
Capital and exploration expenses
In Q1 2026, the Company incurred
Permitting
Integra's 2025 DeLamar Project Mine Plan of Operations ("MPO") Version 4.1 was determined to be administratively complete in August 2025, meeting the content requirements at 43 CFR 3809.401(b). Through the preparation of environmental resource modeling and completion of the FS, select project refinements have been incorporated to reduce potential environmental impacts. An optimized MPO Version 4.3 has been developed and was submitted to the United States Bureau of Land Management (the "BLM") on May 1, 2026. The MPO Version 4.3 is the project proposed action and will serve as the basis for BLM's environmental review of the DeLamar Project under the National Environmental Policy Act ("NEPA"). Following the publishing of the Notice of Intent in Q2 2026, public and agency scoping will identify environmental concerns (issues) associated with project implementation. These issues will inform the development of potential alternatives. Environmental effects analysis of the DeLamar Project and a no action alternative will be issued in an Environmental Impact Statement ("EIS") . In the EIS and accompanying record of decision, anticipated in Q3 2027, the BLM will identify a preferred alternative and any required mitigation measures required for the DeLamar Project implementation. Following the NEPA process, a final revised MPO will be prepared that incorporates the preferred alternative and any identified mitigation measures. Once all applicable federal, state and local permits are obtained, the DeLamar Project will commence construction.
The DeLamar Project's permitting timeline was posted to the FAST-41 project dashboard on January 13, 2026. The FAST-41 Transparency Project program is a federal permitting framework designed to streamline environmental reviews, improve interagency coordination, and increase transparency. Agencies must develop and maintain a coordinated, project-specific timetable for all required environmental review and permitting actions. Integra will be designated a dedicated project advisor from the Permitting Council, who will monitor the advancement of the project – maintaining active engagement and coordination across multiple regulatory agencies. The Permitting Council provides high-level oversight to ensure that federal agencies adhere to established timetables. The DeLamar Project's permitting timeline posted to the FAST-41 project dashboard highlights an accelerated 15 month NEPA schedule from start to finish.
The Company completed its FS for the DeLamar Project with an effective date December 8, 2025. The FS for DeLamar confirmed robust economics for a low-cost, large-scale, conventional open pit oxide heap leach operation, with competitive operating costs and a high rate of return. The FS outlines total production of 1.1 million ounces of gold equivalent ("AuEq") over a 10-year operating mine life (plus two years of residual leaching), resulting in an average annual production profile of 106,000 ounces AuEq per annum at a co-product Mine-site AISC of
During the quarter the Company also advanced the Nevada North Project, which consists of the Wildcat Deposit ("Wildcat") and the Mountain View Deposit ("Mountain View") (collectively, the "Nevada North Project" or "Nevada North"). A preliminary hydrogeological study completed at Wildcat in Q4 2025 provided preliminary data related to groundwater depth, flow direction and water quality. Additional hydrogeological data collection in 2026 will support the development of a hydrogeological conceptual site model ("HCSM") and further assessment of potential water management and supply issues impacting mining and reclamation planning. Decision record documentation for the Wildcat Exploration Plan of Operations ("EPO") is complete as of April 9, 2026, and the Reclamation Permit from Nevada Division of Environmental Protection ("NDEP") Bureau of Mining Regulation and Reclamation ("BMRR") was received on April 20, 2026, with an effective date of May 5, 2026. The Wildcat EPO, now fully approved, will provide greater flexibility for significantly expanded exploration and hydrogeological drilling campaigns scheduled to begin in Q2 2026.
At Mountain View, environmental analysis for the EPO is also complete, and the NDEP BMRR Reclamation Permit is anticipated in Q2 2026. Once fully approved and permitted, the Mountain View EPO will provide greater flexibility for significantly expanded exploration and drilling campaigns in the future. Integra expects to begin work on an updated technical report for Nevada North in 2026 with a target release date in early 2027.
External affairs activities for the quarter maintained broad stakeholder engagement, with the most frequent stakeholder categories including local residents, civic and non-profit organizations, government and elected officials, and Tribal Nations, totaling over 4,250 stakeholders engaged in
Health, Safety and Environment
Integra experienced zero fatalities and zero lost time incidents in Q1 2026. Zero MSHA-reportable injuries occurred at Florida Canyon in Q1 2026. The 2026, year to date total recordable incident frequency rate ("TRIFR") at Florida Canyon was zero compared to 1.79 for 2025.
Integra recorded zero quarterly or immediately reportable spills and 2 minor reportable permit noncompliances for the quarter.
Financial Statements
Integra's consolidated financial statements and management's discussion and analysis as at and for the three months ended March 31, 2026, are available on the Company's website at www.integraresources.com, and under the Company's profiles on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov. Hard copies of the financial statements are available free of charge upon written request to info@integraresources.com.
Q1 2026 Conference Call and Webcast Details
The Company will host a conference call and webcast on Tuesday, May 12, 2026 at 11:00 AM Eastern Time / 8:00 AM Pacific Time to review its financial and operating results for the first quarter of 2026. 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/227670078
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")
Non-GAAP Financial Measures
Management believes that the following non-GAAP financial measures will enable certain investors to better evaluate the Company's performance, liquidity, and ability to generate cash flow. These measures do not have any standardized definition under IFRS, and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Other companies may calculate these measures differently.
Average realized gold price
Average realized gold price per ounce is calculated by dividing the Company's gross revenue from gold sales for the relevant period by the gold ounces sold, respectively. The Company believes the measure is useful in understanding the gold prices realized by the Company throughout the period. The following table reconciles revenue and gold sold during the period with average realized prices:
Three months ended | ||
2026 | 2025 | |
Gold revenue | $ 60,757 | $ 56,430 |
Gold ounces sold during the period | 12,518 | 19,540 |
Average realized gold price (per oz sold) | $ 4,854 | $ 2,888 |
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.
The following table reconciles payments for mineral properties, plant and equipment, and equipment leases to sustaining and non-sustaining capital expenditures:
Three months ended | ||
2026 | 2025 | |
Payments for mineral properties, plant and equipment | $ 8,976 | $ 3,785 |
Payments for equipment leases | 3,592 | 2,234 |
Total capital expenditures | 12,568 | 6,019 |
Less: Non-sustaining capital expenditures | (1,788) | — |
Sustaining capital expenditures | $ 10,780 | $ 6,019 |
Free cash flow
Free cash flow, a non-GAAP financial metric, subtracts sustaining capital expenditures from net cash provided by operating activities, serving as a valuable indicator of our capacity to generate cash from operations post-sustaining capital investments. The following table reconciles this non-GAAP financial measure to the most directly comparable IFRS Accounting Standard measure:
Three months ended | ||
2026 | 2025 | |
Operating cash flow (1) | $ 13,798 | $ 15,732 |
Less: sustaining capital expenditures | (10,780) | (6,019) |
Free cash flow | $ 3,018 | $ 9,713 |
Free cash flow per share (basic) | $ 0.02 | $ 0.06 |
Weighted average shares outstanding (basic) | 193,554 | 168,711 |
Working capital
Working capital is calculated as current assets less current liabilities. The Company uses this measure to assess its operational efficiency and short-term financial position.
Operating margin
Operating margin is calculated as mine operating earnings divided by revenue. The Company uses Operating Margin as a measure of the Company's profitability. The following table reconciles this non-GAAP financial measure to the most directly comparable IFRS Accounting Standard measure:
Three months ended | ||
2026 | 2025 | |
Revenue | $ 61,724 | $ 57,025 |
Mine operating earnings | 24,851 | 15,484 |
Operating margin | 40 % | 27 % |
Operating cash flow before change in working capital
The Company uses operating cash flow before change in working capital to determine the Company's ability to generate cash flow from operations, and it is calculated by adding back the change in working capital to operating cash flow as reported in the consolidated statements of cash flows.
Three months ended | ||
2026 | 2025 | |
Operating cash flow (1) | $ 13,798 | $ 15,732 |
Change in working capital | 8,627 | (3,432) |
Operating cash flow before change in working capital | $ 22,425 | $ 12,300 |
Operating cash flow per share (basic) | $ 0.07 | $ 0.09 |
Operating cash flow before change in working capital per share (basic) | $ 0.12 | $ 0.07 |
Weighted average shares outstanding (basic) | 193,554 | 168,711 |
Cash costs
Cash costs are a non-GAAP financial metric which includes production costs, and government royalties. Management uses this measure to monitor the performance of its mining operation and ability to generate positive cash flow on a site basis.
AISC
All-in sustaining costs, a non-GAAP financial measure, 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.
Cash costs and AISC are calculated as follows:
Three months ended | ||
2026 | 2025 | |
Production costs | $ 27,294 | $ 34,482 |
Royalties and excise taxes | 3,899 | 3,732 |
Fair value adjustment to production costs on sale of acquired inventories (1) | 94 | 1,770 |
Less: Silver revenue | (967) | (595) |
Total cash costs | 30,320 | 39,389 |
Reclamation accretion expense | 333 | 357 |
Sustaining capital expenditures | 10,780 | 6,019 |
Mine-site AISC | $ 41,433 | $ 45,765 |
General and administrative expenses | 2,964 | 1,674 |
Share-based compensation | 369 | 351 |
Total AISC | $ 44,766 | $ 47,790 |
Gold ounces sold (oz) | 12,518 | 19,540 |
Cash costs (per Au sold) | $ 2,422 | $ 2,016 |
Mine-site AISC (per Au sold) | $ 3,310 | $ 2,342 |
AISC (per Au sold) | $ 3,576 | $ 2,446 |
(1) | This non-cash adjustment to production costs for the three months ended March 31, 2026, results from the fair value adjustment to inventories recognized upon the acquisition of the Florida Canyon Mine. |
Adjusted earnings
Adjusted earnings and adjusted basic earnings per share (collectively, "Adjusted Earnings") are presented to remove items that are unrelated to ongoing operations. These metrics do not have a standardized definition under IFRS Accounting Standards and should not be considered as a substitute for results prepared in accordance with IFRS Accounting Standards. Other companies may calculate Adjusted Earnings differently. Adjusted Earnings excludes the tax-effected impact of transaction and integration costs, unrealized gains and losses on foreign currency derivative contracts, gains or losses from the disposal of mineral properties, plant and equipment, and deferred taxes.
Three months ended | ||
2026 | 2025 | |
Net earnings | $ 12,549 | $ 983 |
Increase (decrease) due to: | ||
Transaction and integration costs | — | 2,095 |
Fair value adjustment to production costs on sale of acquired inventories (1) | (94) | (1,770) |
Unrealized (gains) losses on derivatives | (475) | 3,083 |
Realized loss on debt facility conversion | — | — |
(Gain) loss on disposal of mineral properties, plant and equipment | 311 | 36 |
Current tax effect from adjusting items | 84 | — |
Deferred tax expense | 516 | 7 |
Adjusted earnings | $ 12,891 | 4,434 |
Weighted average shares outstanding (in 000's) Basic | 193,554 | 168,711 |
Adjusted basic earnings per share | $ 0.07 | $ 0.03 |
(1) | This non-cash adjustment to production costs for the three months ended March 31, 2026 and March 31, 2025, results from the fair value adjustment to inventories recognized upon the acquisition of the Florida Canyon Mine. |
Forward-looking Statements
Certain information set forth in this news release contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable Canadian and
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 abilities to complete its planned exploration and development programs; the absence of adverse conditions at the Company's projects; 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 projects economic, as applicable; 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; 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, labour 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 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. This list in not exhaustive of the factors that may affect any of the Company's forward-looking statements. Although the Company believes its expectations are based on reasonable assumptions and have attempted to identify important factors that could cause 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 the Company's Annual Information Form dated March 24, 2026 for the fiscal year ended December 31, 2025, which is available on the SEDAR+ issuer profile for the Company at www.sedarplus.ca and on the EDGAR issuer 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 MD&A 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.
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.
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SOURCE Integra Resources Corp.