Company Overview - Integra Resources (ITRG) is a U.S. gold mining company with assets located in Idaho and Nevada [1] - The main assets include the development projects DeLamar and Nevada North, along with smaller producing gold projects [1] Investment Strategy - The company focuses on turnarounds in the natural resource industries, typically maintaining a holding period of 2-3 years [2] - Emphasizing value offers good downside protection while still allowing for significant upside potential [2] - The portfolio has achieved a compounded annual growth rate of 26% over the last 6 years [2]

Core Viewpoint - Integra Resources Corp. has appointed Clifford Lafleur as Chief Operating Officer, marking a significant step in the company's transformation into a growth-focused precious metals producer in the Great Basin of the U.S. [1][3] Company Overview - Integra Resources is a growing precious metals producer focused on operational excellence at its Florida Canyon Mine in Nevada and advancing its development-stage projects, DeLamar and Nevada North [6]. Appointment of COO - Clifford Lafleur brings over 25 years of operational and executive experience in mining, having previously contributed to the success of SilverCrest Metals, which was sold for $1.7 billion [2]. - Mr. Lafleur's role will be pivotal in optimizing operations at Florida Canyon and advancing development projects [3][4]. Strategic Focus Areas - The company aims to enhance operational execution at Florida Canyon through strategic mine optimization and cost discipline [4]. - There is a focus on maximizing the value of the development portfolio, particularly through advanced technical studies and construction efforts at DeLamar and Nevada North [4]. - Strategic capital allocation will ensure that cash flow from Florida Canyon is effectively reinvested to maximize shareholder value [4]. Future Guidance - Integra plans to release its formal 2025 operating and cost guidance in mid-2025, allowing Mr. Lafleur to assess operations and onboard effectively [4].

Company Update - Integra Resources Corp. has appointed Dale Kerner as Vice President of Permitting, effective early March 2025, to enhance the permitting process for the DeLamar Project [1][3][5] - Kerner brings over 25 years of experience in environmental permitting and regulatory compliance, previously working on the Stibnite Gold Project [4][6] - The company is actively hiring a Chief Operating Officer (COO) to strengthen its operational team, with interviews already conducted [11][12] Gold Price Protection Program - Integra has implemented a gold price protection program for 2025 production from the Florida Canyon Mine, aimed at securing margins and reducing gold price risk [7][9] - The program includes the purchase of put options with a strike price of US$2,400 per ounce, totaling 56,500 hedged ounces for 2025 [8][10] Operational Guidance - The new COO will oversee mining operations at Florida Canyon and will be crucial in determining operating and cost guidance for 2025 [12][13] - Formal 2025 operating and cost guidance will be provided after the COO's appointment, with additional commentary on operations expected during the release of the 2024 fourth quarter and full-year results [13][14] Upcoming Financial Results - Integra plans to release its fourth quarter and full-year 2024 operating and financial results on March 26, 2025, followed by a conference call on March 27, 2025 [14]

Company Overview - Integra Resources (NYSE: ITRG) is a smaller U.S.-focused gold mining company, listed in both the U.S. and Canada, with its reporting currency in U.S. Dollars [2]. Investment Strategy - The investment strategy focuses on companies with quality characteristics that are trading at depressed valuations, allowing investors to participate in the upside of natural resource investing while minimizing extreme drawdowns [3]. - The company primarily invests in turnaround stories within the natural resource industries, driven by favorable monetary and fiscal policies, underinvestment, and attractive valuations [4]. Performance Metrics - The portfolio has achieved a compounded annual growth rate of 24% over the last 6 years, indicating strong performance in the investment strategy [1].

Company Overview - Integra Resources Corp. 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 [2] - The company is also advancing its development-stage heap leach projects, including the DeLamar Project in Idaho and the Nevada North Project in Nevada [2] - Integra aims to create sustainable value for shareholders and local communities through efficient project development, disciplined capital allocation, and strategic mergers and acquisitions while adhering to high environmental, social, and governance standards [2] Recent Developments - On January 24, 2025, the company granted a total of 1,362,415 options, 1,306,184 restricted share units, and 348,726 deferred share units as part of its Equity Incentive Awards to employees, executives, directors, and consultants [1] - The options granted have an exercise price of C$1.37 per share and will expire five years from the date of grant [1]

Core Viewpoint - Integra Resources Corp. has announced positive results from its 2024 drill program at the Wildcat Deposit in Nevada, enhancing geological understanding and supporting future feasibility studies [1][2][6]. Group 1: Drill Program Results - The 2024 drill program included 10 holes totaling approximately 1,940 meters, aimed at gathering data on heap-leachable material and testing high-grade breccia targets [1][2]. - Significant oxide mineralized material was intercepted, confirming grade continuity at Wildcat, with notable drill results including: - WCCD-0017: 0.52 g/t oxide Au over 62.5m - WCCD-0018: 0.38 g/t oxide Au over 64.6m - WCCD-0019: 0.27 g/t oxide Au over 147.5m [4][9]. - The program also included the installation of piezometers to gather data on water table elevation, which is expected to facilitate future permitting processes [4][9]. Group 2: Geological Insights - The exploration component of the drill program indicated the presence of a potential feeder breccia pipe located beneath post-mineralization basalts, with encouraging geological interpretations guiding future drilling campaigns [2][10]. - Drilling at Rhyolite Ridge confirmed the continuity of brecciated tuff, with evidence of hydrothermal fluid activity suggesting additional mineralization beyond the main pit area [11][12]. Group 3: Economic Assessment - A Preliminary Economic Assessment (PEA) released in June 2023 indicated strong project economics for the Nevada North Project, with an after-tax NPV of US$310 million and a 37% after-tax IRR at base case metal prices [3][5]. - Using more recent metal prices, the project shows an after-tax NPV of US$490 million and a ~54% after-tax IRR, highlighting the economic viability of the Wildcat Deposit [5][17]. Group 4: Future Plans - The company plans to continue drilling to further delineate the breccia pipe geometry and test for high-grade mineralization, reinforcing the strategic importance of the Wildcat Deposit within Integra's portfolio [12][6].

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]

Core Viewpoint - Integra Resources Corp. (ITRG) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with near-term stock price movements, particularly due to institutional investors' reliance on these estimates for valuation [4][6]. - An increase in earnings estimates typically leads to higher fair value calculations by institutional investors, resulting in buying or selling actions that affect stock prices [4]. Recent Performance and Projections - For the fiscal year ending December 2024, Integra Resources is expected to earn -$0.18 per share, reflecting a 65.4% change from the previous year's reported number [8]. - Over the past three months, the Zacks Consensus Estimate for Integra Resources has increased by 32.7%, indicating a positive trend in earnings expectations [8]. Zacks Rank System Overview - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have generated an average annual return of +25% since 1988 [7]. - The upgrade of Integra Resources to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [10].

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 ...

Financial Performance - Total operating loss for the three-month period ended June 30, 2023, was $6,000,874, compared to $6,998,213 for the same period in 2022, representing a decrease of approximately 14.3%[7]. - Net loss for the six-month period ended June 30, 2023, was $12,270,937, compared to $13,946,691 for the same period in 2022, indicating a reduction of about 12%[7]. - Comprehensive loss for the three-month period ended June 30, 2023, was $6,784,380, compared to $6,887,883 for the same period in 2022, a decrease of about 1.5%[7]. - Net loss per share for the three-month period ended June 30, 2023, was $0.07, compared to $0.12 for the same period in 2022, indicating an improvement[7]. - Net loss for the six-month period ended June 30, 2024, was $12,270,937, compared to a net loss of $13,946,691 for the same period in 2023, representing a decrease of approximately 12%[13]. Assets and Liabilities - As of June 30, 2024, Integra Resources Corp. reported total current assets of $17,013,281, an increase of 72.5% from $9,867,457 on December 31, 2023[5]. - Total liabilities decreased to $38,323,757 from $41,868,741, a reduction of approximately 8.5%[5]. - Current liabilities totaled $16,107,623, slightly down from $16,671,379, a decrease of 3.4%[5]. - The accumulated deficit increased to $(161,366,436) from $(149,095,499), reflecting a decline of 8.2% in retained earnings[5]. - Total equity as of June 30, 2024, was $41,170,909, up from $40,520,246, marking a growth of 1.6%[5]. Cash Flow and Investments - Cash flow used in operating activities decreased to $11,965,769 for the six-month period ended June 30, 2024, from $13,063,294 in 2023, indicating an improvement of about 8%[13]. - Cash and cash equivalents at the end of the period were $10,585,717, down from $23,406,053 at the end of June 30, 2023, reflecting a decrease of approximately 55%[13]. - The company reported cash flow provided by investing activities of $4,111,708 for the six-month period ended June 30, 2024, compared to cash used in investing activities of $3,667,421 in 2023[13]. - The issuance of common shares for financing generated $11,097,517 in the six-month period ended June 30, 2024, compared to $25,799,794 in 2023, indicating a decrease of approximately 57%[13]. Exploration and Evaluation - The company reported exploration and evaluation assets of $58,679,168, down from $68,402,183, a decrease of 14.3%[5]. - The company spent $7,486,717 on exploration and evaluation activities during the six-month period ended June 30, 2024, compared to $10,666,135 for the same period in 2023[85]. - Total exploration and evaluation expenses for the six-month period ended June 30, 2024, amounted to $7,486,717, compared to $10,666,135 for the same period in 2023, representing a decrease of approximately 30.3%[88][91]. - Significant costs included permitting expenses of $1,538,877 for the six-month period in 2024, down from $2,268,005 in 2023, a reduction of approximately 32.3%[88][91]. - The DeLamar Project in Idaho accounted for a significant portion of exploration expenses, with $5,766,724 allocated for the six-month period ended June 30, 2024[88]. Acquisitions and Growth Strategy - Integra Resources Corp. announced the acquisition of Florida Canyon Gold Inc. as part of its growth strategy[17]. - The company completed the acquisition of Rich Gulch LLC, which was classified as an asset acquisition rather than a business combination[34]. - Integra completed the acquisition of Millennial Precious Metals Corp on May 4, 2023, issuing 16,872,050 common shares valued at $23,996,732 based on the closing share price[94]. - The company has a portfolio of early-stage exploration projects in Idaho, Nevada, and Arizona, enhancing its growth potential[15]. - The company announced on July 29, 2024, its agreement to acquire all issued and outstanding shares of Florida Canyon Gold Inc[39]. Financial Management and Controls - The company has established internal control systems to ensure reliable financial reporting[2]. - The Audit Committee assists the Board in reviewing financial statements and ensuring compliance with financial standards[3]. - Integra has not established quantitative return on capital criteria but relies on management expertise for future development[37]. - The company intends to raise additional funds through various means, including equity capital sales and royalty sales, to support its projects[38]. Shareholder and Equity Information - As of June 30, 2024, the total issued and outstanding common shares increased to 88,458,702 from 68,871,437 at December 31, 2023[133]. - The balance for share-based payments related to stock options increased to $6,417,239 as of June 30, 2024, from $6,057,022 a year earlier[145]. - The company granted 1,603,371 stock options on December 20, 2023, at an exercise price of $1.04, with an associated share-based payment of $909,007[146]. - The total number of stock options outstanding as of June 30, 2024, was 3,199,394, with a weighted average exercise price of $3.01[143]. - The company issued 56,662 deferred share units to directors in lieu of fees for the six-month period ended June 30, 2024, compared to 38,893 units for the same period in 2023[99].