Company Overview - Integra Resources is a smaller precious metals mining company with assets located in Nevada and Idaho, United States [1] - The company has two significant development assets, DeLamar and Nevada North, which have higher net present value estimates compared to others [1] Investment Strategy - The focus is on investing in turnarounds within the natural resource industries, typically with a holding period of 2-3 years [2] - Emphasizing value investment provides good downside protection while still allowing for significant upside potential [2] - The portfolio has achieved a compounded annual growth rate of 29% over the last six years [2]

Core Insights - Integra Resources Corp. reported consistent gold production and positive financial results for Q2 2025, with a focus on capital investment and growth at Florida Canyon [4][21][29] Financial and Operating Highlights - Mined 3,074,440 tonnes of ore and 2,966,291 tonnes of waste at a strip ratio of 0.96, achieving a mining rate of 33,785 tonnes per day, a 1% increase from Q1 2025 [7][10] - Produced 18,087 gold ounces and sold 18,194 gold ounces at a record average realized price of $3,332 per ounce, generating record revenue of $61.1 million, exceeding Q1 2025 revenue of $57.0 million [7][21] - Mine operating earnings reached $25.2 million, representing a 41% operating margin, up from $15.5 million and 27% in Q1 2025 [7][9] - Adjusted earnings were $11.8 million, or $0.07 per share, compared to $4.4 million, or $0.03 per share in Q1 2025 [7][23] - Net earnings were $10.6 million, or $0.06 per share, compared to $1.0 million, or $0.01 per share in Q1 2025 [7][22] - Cash costs decreased to $1,849 per gold ounce sold from $2,016 in Q1 2025, while mine-site all-in sustaining costs (AISC) increased to $2,641 per gold ounce from $2,342 [7][18] Capital Expenditures - The company plans to invest over $55 million into Florida Canyon in 2025 for improvements and long-term growth [4] - In Q2 2025, $14.2 million was invested in sustaining capital, totaling $20.2 million for H1 2025 [16][18] Exploration and Growth - A resource growth-focused drill program at Florida Canyon was initiated, completing approximately 5,700 meters of drilling by the end of June 2025, with an expanded scope to 16,000 meters [19][20] - The company plans to release an updated mineral reserve and resource estimate and an updated life-of-mine plan in H1 2026 [19] Development Projects - The DeLamar Project is under review by the U.S. Bureau of Land Management, with an environmental review expected to commence in H2 2025 [29][30] - The Nevada North Project is advancing with metallurgical testing and environmental analysis completed, with permits anticipated in H2 2025 [31][32] Health, Safety, and Environment - The company reported zero fatalities and zero lost time incidents in Q2 2025, with a total recordable incident frequency rate of 1.89 [34]

Industry Overview - The Zacks Mining – Gold industry is part of the broader Zacks Basic Materials sector, which is expected to see a decline in earnings for the second quarter, with overall earnings projected to fall by 7.5% despite a 2.8% increase in revenues [1] Gold Prices and Market Dynamics - Gold prices have increased significantly this year, rising approximately 29% year to date, driven by global trade tensions and safe-haven demand [3] - On April 22, gold prices reached a record high of $3,500 per ounce, and while they retreated, they closed the second quarter above $3,300 per ounce, marking a nearly 6% increase in the quarter [4] Company Performance Expectations - Gold mining companies are expected to benefit from higher gold prices and efforts to improve operational efficiency and reduce costs in their second-quarter results [2] - Despite higher mining costs due to inflationary pressures, companies are focused on reducing operational costs and improving efficiency, which is anticipated to support their margins [5] Selected Companies and Earnings Estimates - Barrick Mining Corporation is expected to report earnings of 47 cents per share, with an Earnings ESP of +1.14% and a Zacks Rank 1, having beaten earnings estimates in three of the last four quarters [9] - Franco-Nevada Corporation has an Earnings ESP of +0.91% and a Zacks Rank 3, with a consensus estimate of $1.10 for second-quarter earnings, benefiting from increased contributions from streaming agreements [11] - Integra Resources Corp. has an Earnings ESP of +4.76% and a Zacks Rank 3, with a consensus estimate of 7 cents for second-quarter earnings, expected to benefit from strong production at the Florida Canyon mine [13]

Core Viewpoint - Integra Resources Corp. has announced initial results from its 2025 resource growth drilling program at the Florida Canyon Mine, aiming to expand mineral reserves and resources, extend mine life, and enhance the mine's value [1][4]. Group 1: Drilling Program Overview - The 2025 growth drilling program targets three key areas: near-surface oxide potential from historical low-grade gold-mineralized waste, expanding in-situ resources between existing mine open pits, and testing lateral extensions and in-pit infill drilling [2][12]. - The drill program's scope has been increased from approximately 10,000 meters to 16,000 meters due to initial drilling success, with about 5,700 meters of reverse circulation drilling completed to date [2][10]. Group 2: Opportunity 1 - Near-Surface Oxide Potential - Initial results from the North Mine Dump indicate broad, near-surface intervals of oxide gold mineralization, with significant gold grades and excellent heap leach potential [4][8]. - Key intercepts include: - FCM25-0569: 0.28 grams per tonne (g/t) oxide gold over 68.6 meters - FCM25-0570: 0.36 g/t oxide gold over 71.6 meters - FCM25-0575: 0.37 g/t oxide gold over 47.2 meters, including 4.53 g/t oxide gold over 1.5 meters - Approximately 70% of drill intercepts exceed the current mine cut-off grade of 0.11 g/t gold [9][16]. Group 3: Opportunity 2 - Expanding In-Situ Resources - Drilling in the Inter-Pit areas has confirmed broad, near-surface intervals of gold mineralization with consistent grades, indicating potential for resource expansion [12][16]. - Notable intercepts include: - FCM25-0588: 0.47 g/t gold over 39.6 meters (North Pit) - FCM25-0591: 0.27 g/t gold over 114.3 meters (Central/Radio Tower Saddle) - FCM25-0600: 0.25 g/t oxide gold over 73.2 meters (Central/Radio Tower Saddle) - Approximately 40% of drill intercepts within the Radio Tower Pit exceed the current mine cut-off grade of 0.14 g/t gold, while about 35% of remaining Inter-Pit intercepts exceed 0.11 g/t gold [16][18]. Group 4: Future Plans and Expectations - The 2025 drill program is expected to support a mineral resource and reserve update, along with a revised life-of-mine plan in the first half of 2026 [11][19]. - Preliminary volume and grade estimation work is underway for the North Dump and South Dump, with further details anticipated in the coming months [11][10].

Core Viewpoint - Integra Resources Corp. is experiencing positive operational performance at the Florida Canyon Mine, with significant cash flow generation and plans for substantial reinvestment to support long-term growth and profitability [2][3]. Operational Update - Florida Canyon Mine produced 18,086 ounces of gold and sold 18,194 ounces during Q2 2025, aligning with company expectations [3]. - The total ore mined was 3,075 kt, with a waste-to-ore strip ratio of 0.96 for the quarter [3]. - The company plans to invest over $55 million in Florida Canyon for sustaining and growth capital in 2025 [2]. Financial Position - As of June 30, 2025, the company reported cash and cash equivalents of $63 million [4]. Upcoming Events - The company will release its Q2 2025 financial results on August 13, 2025, followed by a conference call on August 14, 2025 [1][6].

Core Viewpoint - Integra Resources Corp. has provided its 2025 guidance, outlining expectations for production, operating costs, capital expenditures, and development spending across its portfolio, particularly focusing on the Florida Canyon Mine and its development-stage projects, DeLamar and Nevada North [1][2][4]. Production and Cost Outlook - Gold production from the Florida Canyon Mine is projected to be between 70,000 and 75,000 ounces in 2025 [2][7]. - Total cash costs at Florida Canyon are expected to range from $1,800 to $1,900 per ounce sold [2][8]. - Mine-site all-in sustaining costs (AISC) are anticipated to be between $2,450 and $2,550 per ounce sold, reflecting a capital-intensive period [2][10]. - Sustaining capital expenditures are estimated at $48.0 million to $53.0 million, with a significant portion allocated to the third quarter of 2025 [2][9]. Capital Expenditures and Growth Initiatives - Growth capital expenditures at Florida Canyon are projected to be between $8.0 million and $10.0 million, focusing on expansion projects and studies [2][11]. - Approximately $1.5 million is allocated for a growth drilling program, which includes around 10,000 meters of reverse circulation drilling [2][11]. Development Projects - Total expected project development spending for the DeLamar and Nevada North projects in 2025 is estimated at $14.5 million to $15.5 million [2][12]. - At DeLamar, $12.0 million to $12.5 million is allocated for feasibility study completion and permitting advancement, with significant budget portions directed towards engineering studies and permitting activities [2][13]. - For Nevada North, approximately $2.5 million to $3.0 million is designated for metallurgical testing and geochemical sampling to support future development [2][14]. Strategic Goals - The acquisition of the Florida Canyon Mine aims to secure a reliable cash flow source to advance development projects and reduce reliance on annual equity financing [4]. - The company is focused on enhancing operational efficiency and extending the mine life of Florida Canyon through significant reinvestment and improvement initiatives [5][6].

I primarily invest in turnarounds in natural resource industries, where I have a typical holding period of 2-3 years. Focusing on value offers good downside protection and can still provide great upside participation. The portfolio has over the last 6 years had a compounded annual growth rate of 27%. Sign up! If you like this article and are interested in more frequent analysis of my holding companies, real-time notifications on portfolio changes, together with macro and industry analysis. I would encourage ...

TSXV: ITR; NYSE American: ITRGwww.integraresources.comVANCOUVER, BC, May 14, 2025 /PRNewswire/ - Integra Resources Corp. ("Integra" or the "Company") (TSXV: ITR) (NYSE American: ITRG) is pleased to announce financial and operating results for the three months ended March 31, 2025 (the "first quarter" or "Q1 2025"). The Company will host a conference call to discuss first quarter 2025 results on Thursday, May 15, 2025 at 11:00 AM Eastern Time / 8:00 AM Pacific Time.(All amounts expressed in United States ("U ...

Core Viewpoint - Integra Resources Corp. has been included in the Solactive Global Silver Miners Total Return Index, effective May 1, 2025, marking a significant milestone for the company and enhancing its profile in capital markets [1][2]. Company Overview - Integra Resources is a growing precious metals producer located in the Great Basin of the Western United States, focusing on profitability and operational excellence at its Florida Canyon Mine in Nevada [3]. - The company is also advancing its development-stage heap leach projects, including the DeLamar Project in Idaho and the Nevada North Project in Nevada [3]. - Integra aims to create sustainable value through efficient project development, disciplined capital allocation, and strategic mergers and acquisitions while adhering to high environmental, social, and governance standards [3]. Market Impact - The inclusion in the Solactive Global Silver Miners Total Return Index is expected to enhance trading liquidity and attract a broader range of institutional and retail investors [2].

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Summary: Integra Resources Corp. (ITRG) - ITRG currently holds a Momentum Style Score of A, indicating strong momentum characteristics [2] - The company has a Zacks Rank of 2 (Buy), suggesting it is positioned for potential outperformance in the market [3] - Over the past week, ITRG shares increased by 2.37%, outperforming the Zacks Mining - Miscellaneous industry, which rose by 1.14% [5] - In the last month, ITRG's price surged by 42.74%, significantly higher than the industry's 1.05% increase [5] - Over the past quarter, ITRG shares rose by 66.98%, and over the last year, they increased by 123.77%, while the S&P 500 experienced declines of -8.61% and a modest gain of 9.87%, respectively [6] - The average 20-day trading volume for ITRG is 1,122,872 shares, indicating strong trading activity [7] Earnings Outlook - In the past two months, four earnings estimates for ITRG have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $0.16 to $0.31 [9] - For the next fiscal year, one estimate has moved upwards, with no downward revisions noted [9] Conclusion - Given the strong momentum indicators and positive earnings outlook, ITRG is positioned as a 2 (Buy) stock with a Momentum Score of A, making it a potential candidate for investors seeking short-term gains [11]