Financial Performance - Revenues for the year ended December 31, 2023, were $312,479,000, a decrease of 19.5% compared to $388,341,000 in 2022[44] - Gross profit increased to $32,383,000 in 2023 from $23,828,000 in 2022, reflecting a gross margin improvement[44] - Net loss for 2023 was $16,607,000, significantly reduced from a net loss of $148,798,000 in 2022, indicating improved operational efficiency[44] - The company reported a basic and diluted loss per share of $(0.26) for 2023 compared to $(2.29) for 2022, indicating a significant improvement[44] - Total comprehensive loss for 2023 was $16,607,000, consistent with the net loss reported, indicating no significant adjustments[44] - Net loss for the year ended December 31, 2023, was $16,607,000, a significant improvement from a net loss of $148,798,000 in 2022, representing an 88.85% reduction[53] - The company reported a loss from operations of $13,212 for 2023, an improvement from a loss of $128,348 in 2022[177] Assets and Liabilities - Total assets decreased to $298,712,000 in 2023 from $342,481,000 in 2022, primarily due to a reduction in mineral properties[47] - Current liabilities decreased to $114,039,000 in 2023 from $142,134,000 in 2022, showing improved liquidity management[47] - Shareholders' equity declined to $111,906,000 in 2023 from $128,513,000 in 2022, primarily due to the net loss incurred[49] - Cash and cash equivalents at the end of 2023 were $41,064,000, slightly down from $42,843,000 at the end of 2022, a decrease of 4.16%[53] - The company maintained cash and cash equivalents of $41,064,000 as of December 31, 2023, slightly down from $42,843,000 in 2022[47] - Trade accounts payable decreased to $16.3 million in 2023 from $25.2 million in 2022, representing a reduction of approximately 35.5%[165] - The company's financial assets at amortized cost increased to $101.010 million in 2023 from $82.376 million in 2022, while financial liabilities at amortized cost decreased to $108.536 million from $148.325 million[210] Cash Flow and Investments - Net cash provided by operating activities increased to $39,693,000 in 2023 from $15,411,000 in 2022, marking a 157.66% increase[53] - Net cash used in investing activities improved to $(23,522,000) in 2023 compared to $(33,019,000) in 2022, a reduction of 28.73%[53] - The company reported expenditures on mineral properties, plant, and equipment of $(9,300,000) in 2023, down from $(37,849,000) in 2022, a decrease of 75.49%[53] - Capital expenditures for the year ended December 31, 2023, totaled $19,879, compared to $36,199 in 2022, reflecting a decrease of 45.0%[177] Impairments and Provisions - Impairment expense decreased to $28,994,000 in 2023 from $135,547,000 in 2022, reflecting a decrease of 78.65%[53] - The company recognized an impairment expense of $28.994 million in 2023, with significant contributions from the El Castillo mining complex and the Florida Canyon mine[215] - The company recognized an impairment of $29.0 million for mineral properties and plant and equipment in 2023, compared to $135.5 million in the prior year, indicating a significant reduction in impairments[161] - The company incurred reclamation provision costs based on estimated future reclamation expenses, which are subject to various uncertainties[131] - Reclamation provisions increased to $59,998 as of December 31, 2023, from $53,016 in 2022, representing an increase of 13.5%[171] Revenue and Production - The Florida Canyon mine generated revenues of $134,704 in 2023, up from $97,065 in 2022, marking an increase of 38.7%[175] - The total mining costs for 2023 were $104.514 million, a decrease of 20.2% from $131.048 million in 2022[139] - The company's total production costs amounted to $240.107 million in 2023, down from $301.172 million in 2022, reflecting a reduction of 20.3%[139] - The total cost of inventories recognized as an expense in cost of sales was $280.1 million in 2023, down from $364.5 million in 2022, reflecting a decrease of approximately 23.2%[155] Tax and Deferred Tax - The effective tax rate for 2023 was -13.0%, consistent with the previous year[142] - The deferred income tax liabilities netted to $(7.084) million as of December 31, 2023, compared to $(989) thousand in 2022[144] - Unrecognized Canadian operating loss carry-forwards amounted to $21.9 million, expiring between 2026 and 2041[144] - Unused tax losses increased to $142.4 million in 2023 from $127.4 million in 2022, reflecting a growth of approximately 11.5%[146] Strategic Developments - The company has two operating mines and is exploring additional strategic options for the La Colorada mine, which was placed on care and maintenance at the end of 2023[57] - Florida Canyon Gold Inc. was formed through a statutory amalgamation of several companies, indicating a strategic consolidation to enhance operational efficiency[55] - The company views the civil claim against its subsidiary Alio Gold Inc. as without merit, but the outcome remains indeterminable at this time[191] Market and Risk Factors - The company is exposed to commodity price risk, with revenues from precious metals sales subject to market fluctuations[200] - A 10% change in the Mexican peso would result in a $0.9 million change in the company's net foreign exchange for 2023, compared to a $1.8 million change in 2022[204] - The company maintains cash and cash equivalents to manage liquidity risk, continuously monitoring actual and forecasted cash flows[206]

Integra Resources Corp. (ITRG) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. The power ...

TSXV: ITR; NYSE American: ITRG www.integraresources.com VANCOUVER, BC, Aug. 26, 2024 /PRNewswire/ - Integra Resources Corp. ("Integra" or the "Company") (TSXV: ITR) (NYSE American: ITRG) is pleased to announce that it has published its 4th annual Sustainability Report (the "Report"), outlining the Company's strong commitment to responsible natural resource development. The Report aligns with the International Financial Reporting Standards Foundation Sustainability Accounting Standards Board ("SASB") Metals ...

Integra Resources Corp. Unaudited Interim Condensed Consolidated Financial Statements For the Three and Six-Month Periods Ended June 30, 2024 and 2023 Expressed in US Dollars MANAGEMENT'S RESPONSIBILITY FOR FINANCIAL REPORTING The accompanying unaudited interim condensed consolidated financial statements of Integra Resources Corp. are the responsibility of the management and Board of Directors of the Company. The unaudited interim condensed consolidated financial statements have been prepared by management, ...

The merger between FCGI and Integra creates a growth focused gold and silver producer in the Great Basin, providing balanced and transformational benefits to shareholders of both Integra and FCGI. The Transaction is strategically aligned with Integra's long-term vision of becoming a leading US based mid-tier gold-silver producer and generating significant value for all shareholders and stakeholders. Following completion of the Transaction, Integra will hold a diversified and tactically sequenced portfolio o ...

TSXV: ITR; NYSE American: ITRG www.integraresources.com VANCOUVER, BC, July 8, 2024 /PRNewswire/ - Integra Resources Corp. ("Integra" or the "Company") (TSXV: ITR) (NYSE American: ITRG) is pleased to announce that following the satisfaction of certain closing conditions, it has received the final cash installment of US$4.875 million in connection with the previously announced royalty transaction between its wholly-owned subsidiary, DeLamar Mining Company, and Wheaton Precious Metals (Cayman) Co., a wholly-o ...

Integra will be hosting a webinar on Tuesday, June 25, 2024 at 10:00am PDT / 1:00pm EDT to provide a midyear update on the Company's activities. The webinar will feature a presentation by Integra's President, CEO & Director, Jason Kosec, following by a live Q&A session. Participants can register using the following link: https://us02web.zoom.us/webinar/register/WN_zRps5c0ESPGJME0u_nAmVw 2. Election of Directors: The following individuals were elected as directors for the ensuing year: George Salamis, Jason ...

TSXV: ITR; NYSE American: ITRG www.integraresources.com MSN currently owns 100% of the membership interests (the "Interests") in Millennial Arizona LLC ("Millennial Arizona") which, pursuant to a mining lease and option to purchase agreement, holds the right to acquire Cerro Colorado. As part of the Agreement, MSN has granted GreenLight an exclusive option for a period of 12 months to purchase the Interests in Millennial Arizona. GreenLight is a private company focused on critical minerals exploration in th ...

The BLM will publish the NOI in the Federal Register to notify government agencies and the general public about the proposed actions at DeLamar. The NOI is a formal announcement of intent to prepare an Environmental Impact Statement ("EIS") as defined by the Council on Environmental Quality. The NOI is followed by a scoping process which includes engagement with federal, state, and local agencies as well as the general public. Once the EIS is formally scoped, the DEIS will be prepared. The DEIS process incl ...

TSXV: ITR; NYSE American: ITRG www.integraresources.com VANCOUVER, BC, May 30, 2024 /PRNewswire/ - Integra Resources Corp. ("Integra" or the "Company") (TSXV: ITR) (NYSE American: ITRG) is pleased to provide an overview of the upcoming exploration drill campaign at the Wildcat Deposit ("Wildcat"), which combined with the Mountain View Deposit form the Nevada North Project (the "Project"). Wildcat is located within the Farrell mining district in northwest Nevada, 56 kilometers ("km") (~35 miles) north of the ...