Integra Resource Stock Price, News & Analysis

Integra Resources (TSXV: ITR; NYSE American: ITRG) announces a leadership transition, appointing George Salamis as President, CEO & Director and Anna Ladd-Kruger as Chair of the Board, effective immediately. Salamis, who founded Integra in 2017, succeeds Jason Kosec who has resigned from his positions.

The company plans to focus on two strategic priorities: achieving sustained profitability at the Florida Canyon Mine in Nevada and advancing their growth pipeline through the DeLamar and Nevada North development projects. Integra aims to announce a new Chief Operating Officer in Q1 2025 and establish an expanded operations team by early 2026.

The company intends to initiate federal permitting for the DeLamar Project in 2025, leveraging cash flow from Florida Canyon mine operations. This timing aligns with new federal administration policies supporting domestic mineral production and local supply chains.

Integra Resources has completed its 2024 drill program at the Wildcat Deposit in Nevada, consisting of 10 holes totaling ~1,940 meters. The program included infill, geotechnical-metallurgical, and exploration drilling. Key results include:

- Three infill holes with significant oxide mineralization, including 0.52 g/t oxide Au over 62.5m (WCCD-0017)

- Seven exploration holes testing potential breccia pipe targets and resource extensions

- WCCD-0016 returned 0.25 g/t non-oxide Au over 213.8m with promising geological indicators

The Wildcat Deposit currently hosts 746,297 ounces of gold and 6,437,869 ounces of silver in the Measured and Indicated category. The 2023 Nevada North Project PEA demonstrated strong economics with an after-tax NPV5% of US$310 million and 37% IRR using base case metal prices.

Integra Resources (TSXV: ITR; NYSE American: ITRG) has completed its business combination with Florida Canyon Gold through a court-approved plan of arrangement. The transaction, approved by FCGI shareholders on October 25, 2024, involved FCGI shareholders receiving 0.467 Integra shares for each FCGI share, resulting in the issuance of 65,213,010 Integra shares. The company also completed a C$19.4 million subscription receipt financing at C$1.35 per share and drew US$5 million from its convertible facility with Beedie Capital. The board now includes new members Janet Yang and Ian Atkinson, while maintaining George Salamis as Executive Chairman.

Integra Resources Corp. (TSXV: ITR; NYSE American: ITRG) and Florida Canyon Gold Inc. (TSXV: FCGV) have announced that Alamos Gold Inc. has provided a voting support agreement for their previously announced transaction. This transaction, revealed on July 29, 2024, involves Integra acquiring all outstanding shares of FCGI through a court-approved plan of arrangement.

Directors and senior officers of FCGI, along with Alamos Gold Inc. and GMT Capital Corp., have entered into voting support agreements. These agreements collectively represent approximately 43.5% of FCGI's outstanding common shares on a non-diluted basis, signaling strong support for the merger.

Integra is a major precious metals exploration and development company in the Western U.S., focusing on oxide heap leach projects in Idaho and Nevada. FCGI is a Canadian-based junior gold producer with assets in the United States and Mexico, including the Florida Canyon mine in Nevada and San Agustin mine in Mexico.

Integra Resources Corp. (TSXV: ITR; NYSE American: ITRG) has released its 4th annual Sustainability Report for 2023, highlighting its commitment to responsible resource development. Key achievements include:

Environmental: Completed advanced baseline studies for the DeLamar Project and maintained zero reportable spills.

Social: Invested US$92,000 in local communities, increased engagement with Tribal Nations, and reached over 8,100 stakeholders.

Governance: Achieved zero lost time injuries, improved incident frequency rate, and successfully integrated Millennial Precious Metals Corp.'s projects into ESG frameworks.

The company transitioned from GRI to SASB Mining and Metals Standard for reporting. CEO Jason Kosec emphasized the importance of stakeholder feedback and support in advancing Integra's flagship projects, DeLamar and Nevada North.

Integra Resources Corp. (TSXV: ITR; NYSE American: ITRG) has completed a C$20 million bought deal private placement offering of 14,900,000 subscription receipts at C$1.35 each. This offering is in connection with Integra's previously announced intention to acquire Florida Canyon Gold Inc. (FCGI). The proceeds are held in escrow pending satisfaction of certain conditions, including completion of the FCGI acquisition. If conditions are met by December 15, 2024, the funds will be released to Integra. The net proceeds are expected to fund mine optimization at Florida Canyon, advancement of DeLamar and Nevada North projects, and general corporate purposes. Underwriters will receive a 6% commission (3% for certain president's list purchasers) upon satisfaction of escrow release conditions.

Integra Resources and Florida Canyon Gold announce a definitive merger agreement, creating a growth-focused gold-silver producer in the Great Basin. Under the terms, FCGI shareholders will receive 0.467 Integra shares per FCGI share, valuing the transaction at C$95 million. The combined entity will hold a diversified portfolio, including the producing Florida Canyon Gold Mine and development projects DeLamar and Nevada North. Expected annual production is ~70koz AuEq, with a goal to exceed 250koz AuEq. The merger aims to leverage synergies and provide enhanced value to shareholders, with Integra owning 60% and FCGI 40% of the combined company.

Integra Resources has received the final cash installment of $4.875 million from Wheaton Precious Metals in connection with the DeLamar royalty sale. This marks the completion of a $9.75 million transaction, where Wheaton acquired a 1.5% net smelter returns royalty on metal production from DeLamar and Florida Mountain. The funds will be used for the continued development of the DeLamar Project, including supporting a Feasibility Study and advancing the National Environmental Policy Act permitting process in the U.S. Integra’s CEO, Jason Kosec, indicated that this final payment will aid the project's progression toward a construction decision.

Integra Resources Corp. (TSXV: ITR, NYSE American: ITRG) has announced the results of its Annual General Meeting (AGM) held on June 21, 2024. A total of 41,654,580 common shares were voted, representing 47.09% of the company's outstanding shares. Key outcomes include the approval of setting the number of directors at nine, election of the board members, appointment of MNP LLP as auditors, and approval of the Amended and Restated Equity Incentive Plan. Additionally, Integra will host a webinar on June 25, 2024, featuring a presentation by President, CEO & Director Jason Kosec.