INTEGRA ANNOUNCES STRONG FIRST QUARTER 2025 GOLD PRODUCTION RESULTS FROM FLORIDA CANYON MINE AND INCREASED CASH BALANCE TO US$61 MILLION
Integra Resources (NYSE: ITRG) reported strong Q1 2025 performance at its Florida Canyon Mine, producing 19,323 ounces of gold and selling 19,540 ounces. The exceptional production was partly attributed to recovering approximately 2,000 ounces of previously unrecovered gold from an electrowinning tank during an efficiency improvement project.
The mine processed 2,963,000 tonnes of total ore, including 1,764kt of crushed ore and 1,199kt of ROM ore. The operation maintained a strip ratio of 0.60, with crushed grade at 0.26 g/t Au and ROM grade at 0.19 g/t Au. The gold recovery rate reached 60.4%.
The company's financial position strengthened with cash and cash equivalents of $61.1 million and working capital of $68.3 million as of March 31, 2025. Full financial results will be released on May 14, 2025.
Integra Resources (NYSE: ITRG) ha riportato una solida performance nel primo trimestre 2025 presso la sua miniera Florida Canyon, producendo 19.323 once d'oro e vendendo 19.540 once. L'eccezionale produzione è stata in parte attribuita al recupero di circa 2.000 once di oro precedentemente non recuperato da un serbatoio di elettrodeposizione durante un progetto di miglioramento dell'efficienza.
La miniera ha trattato un totale di 2.963.000 tonnellate di minerale, comprendenti 1.764 kt di minerale frantumato e 1.199 kt di minerale ROM. L'operazione ha mantenuto un rapporto di scarto di 0,60, con una concentrazione di minerale frantumato di 0,26 g/t Au e una concentrazione ROM di 0,19 g/t Au. Il tasso di recupero dell'oro ha raggiunto il 60,4%.
La posizione finanziaria dell'azienda si è rafforzata con 61,1 milioni di dollari in contanti e equivalenti e un capitale circolante di 68,3 milioni di dollari al 31 marzo 2025. I risultati finanziari completi saranno pubblicati il 14 maggio 2025.
Integra Resources (NYSE: ITRG) reportó un sólido desempeño en el primer trimestre de 2025 en su mina Florida Canyon, produciendo 19,323 onzas de oro y vendiendo 19,540 onzas. La producción excepcional se atribuyó en parte a la recuperación de aproximadamente 2,000 onzas de oro previamente no recuperadas de un tanque de electrodeposición durante un proyecto de mejora de eficiencia.
La mina procesó un total de 2,963,000 toneladas de mineral, incluyendo 1,764 kt de mineral triturado y 1,199 kt de mineral ROM. La operación mantuvo una relación de desmonte de 0.60, con una ley de mineral triturado de 0.26 g/t Au y una ley ROM de 0.19 g/t Au. La tasa de recuperación de oro alcanzó el 60.4%.
La posición financiera de la empresa se fortaleció con 61.1 millones de dólares en efectivo y equivalentes y un capital de trabajo de 68.3 millones de dólares al 31 de marzo de 2025. Los resultados financieros completos se publicarán el 14 de mayo de 2025.
Integra Resources (NYSE: ITRG)는 플로리다 캐년 광산에서 2025년 1분기에 강력한 실적을 보고했으며, 19,323온스의 금을 생산하고 19,540온스를 판매했습니다. 뛰어난 생산 실적은 효율성 향상 프로젝트 중 전기침전 탱크에서 이전에 회수되지 않은 약 2,000온스의 금을 회수한 덕분입니다.
광산은 총 2,963,000톤의 광석을 처리했으며, 이 중 1,764kt는 분쇄 광석, 1,199kt는 ROM 광석입니다. 작업은 0.60의 스트립 비율을 유지했으며, 분쇄 광석 등급은 0.26 g/t Au, ROM 등급은 0.19 g/t Au였습니다. 금 회수율은 60.4%에 달했습니다.
회사의 재무 상태는 2025년 3월 31일 기준 6,110만 달러의 현금 및 현금성 자산과 6,830만 달러의 운전자본으로 강화되었습니다. 전체 재무 결과는 2025년 5월 14일에 발표될 예정입니다.
Integra Resources (NYSE: ITRG) a annoncé de solides résultats au premier trimestre 2025 dans sa mine Florida Canyon, produisant 19 323 onces d'or et vendant 19 540 onces. Cette production exceptionnelle est en partie due à la récupération d'environ 2 000 onces d'or précédemment non récupérées dans un réservoir d'électrodéposition lors d'un projet d'amélioration de l'efficacité.
La mine a traité un total de 2 963 000 tonnes de minerai, comprenant 1 764 kt de minerai concassé et 1 199 kt de minerai ROM. L'exploitation a maintenu un ratio de décapage de 0,60, avec une teneur du minerai concassé à 0,26 g/t Au et du minerai ROM à 0,19 g/t Au. Le taux de récupération de l'or a atteint 60,4 %.
La situation financière de l'entreprise s'est renforcée avec 61,1 millions de dollars en liquidités et équivalents et un fonds de roulement de 68,3 millions de dollars au 31 mars 2025. Les résultats financiers complets seront publiés le 14 mai 2025.
Integra Resources (NYSE: ITRG) meldete eine starke Leistung im ersten Quartal 2025 in seiner Florida Canyon Mine, mit einer Produktion von 19.323 Unzen Gold und einem Verkauf von 19.540 Unzen. Die außergewöhnliche Produktion wurde teilweise auf die Rückgewinnung von etwa 2.000 Unzen zuvor nicht zurückgewonnenen Goldes aus einem Elektrolysetank im Rahmen eines Effizienzsteigerungsprojekts zurückgeführt.
Die Mine verarbeitete insgesamt 2.963.000 Tonnen Erz, darunter 1.764 kt zerkleinertes Erz und 1.199 kt ROM-Erz. Der Betrieb hielt ein Abraumverhältnis von 0,60 bei, mit einem Gehalt von 0,26 g/t Au beim zerkleinerten Erz und 0,19 g/t Au beim ROM-Erz. Die Goldrückgewinnungsrate erreichte 60,4 %.
Die finanzielle Lage des Unternehmens wurde mit 61,1 Millionen US-Dollar an liquiden Mitteln und Zahlungsmitteln sowie einem Nettoumlaufvermögen von 68,3 Millionen US-Dollar zum 31. März 2025 gestärkt. Die vollständigen Finanzergebnisse werden am 14. Mai 2025 veröffentlicht.
- Gold production exceeded expectations at 19,323 ounces in Q1 2025
- Recovery of 2,000 additional gold ounces from efficiency improvement project
- Strong cash position of $61.1 million
- Healthy working capital of $68.3 million
- Favorable strip ratio of 0.60 (waste:ore)
- Relatively low ROM grade of 0.19 g/t Au compared to crushed grade
- Gold recovery rate at 60.4% indicates room for improvement
Insights
Integra reported strong Q1 gold production of 19,323 ounces with 10% from a one-time recovery project, while maintaining $61.1M cash position.
Integra Resources delivered 19,323 ounces of gold production in Q1 2025, exceeding company expectations at their Florida Canyon Mine. This performance deserves careful analysis, as approximately 2,000 ounces (about 10.3% of quarterly production) came from a one-time efficiency improvement project recovering previously unrecovered gold from an electrowinning tank.
The operational metrics reveal several positive indicators. The mine processed 2,963,000 tonnes of material at an average grade of 0.23 g/t Au, achieving a gold recovery rate of 60.4%. Particularly noteworthy is the strip ratio of 0.60 (waste:ore), which is exceptionally favorable for open-pit operations. This low ratio indicates Integra is moving minimal waste material to access ore-bearing rock, typically resulting in lower mining costs and improved operational economics.
From a financial perspective, Integra reported a cash position of
The continuing ramp-up of solution flow rates through heap leach pads and the new carbon-in-column circuit commissioned in late 2024 appear to be driving sustainable performance improvements beyond the one-time recovery project. These operational enhancements suggest potential for continued strong performance, though investors should recognize that the sustainable quarterly production baseline may be closer to 17,300 ounces when excluding the non-recurring recovery.
(All amounts in
First Quarter 2025 Florida Canyon Mine Operational Update
The Florida Canyon Mine produced 19,323 ounces of gold and sold 19,540 ounces of gold during the first quarter 2025. Gold production exceeded expectations, partly due to the recovery and processing of approximately 2,000 ounces of previously unrecovered gold confined within an electrowinning tank as part of a one-time efficiency improvement project. Strong gold production was further supported by the continued ramp-up of solution flow rates through the heap leach pads and new carbon-in-column circuit commissioned in late 2024.
Unit abbreviations: kt = 1,000 metric tonnes, g/t = grams per tonne, Au = gold, oz = troy ounce
Florida Canyon Mine Operating Highlights | Q1 2025 | |
Ore mined | kt | 3,021 |
Waste mined | kt | 1,799 |
Total mined | kt | 4,820 |
Strip ratio | waste:ore | 0.60 |
Crushed ore to pad | kt | 1,764 |
Run-of-mine ("ROM") ore to pad | kt | 1,199 |
Total placed | kt | 2,963 |
Crushed grade | g/t Au | 0.26 |
ROM grade | g/t Au | 0.19 |
Processed grade | g/t Au | 0.23 |
Gold recovery rate | % | 60.4 % |
Gold produced | oz | 19,323 |
Gold sold | oz | 19,540 |
First Quarter 2025 Financial Position
Unit abbreviations: $m = millions of
Financial Position as of March 31, 2025 | ||
Cash and cash equivalents | $m | 61.1 |
Working capital1 | $m | 68.3 |
1. Non-IFRS measure. Refer to the "Non-IFRS Measures" section of this news release. |
Full financial results for the first quarter 2025 will be reported and filed on Integra's profile on SEDAR+ at www.sedarplus.ca and EDGAR profile at www.sec.gov on Wednesday, May 14, 2025.
First Quarter 2025 Conference Call
Integra will host a conference call and webcast on Thursday, May 15, 2025 at 11:00 AM Eastern Time / 8:00 AM Pacific Time, to discuss first quarter 2025 results. Details for the conference call and webcast are included below.
Dial-In Numbers / Webcast:
Conference ID: 2435675
Toll Free: (888) 672-2415
Toll: +1 (646) 307-1963
Webcast: https://events.q4inc.com/attendee/434938829
About Integra Resources
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
Company website: www.integraresources.com
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Raphael Dutaut (Ph.D., P.Geo, OGQ Membership 1301), Integra's Vice President, Geology and Mining. Mr. Dutaut is a "qualified person" as defined in National Instrument 43- 101 – Standards of Disclosure for Mineral Projects ("NI 43-101").
Non-IFRS Measures
The Company has included certain performance measures in this news release which are not specified, defined, or determined under generally accepted accounting principles (in the Company's case, International Financial Reporting Standards ("IFRS")). These are common performance measures in the gold mining industry, but because they do not have any mandated standardized definitions, they may not be comparable to similar measures presented by other issuers. Accordingly, the Company uses such measures to provide additional information, and you should not consider them in isolation or as a substitute for measures of performance prepared in accordance with generally accepted accounting principles. In this section, all currency figures in tables are in thousands, except per-share and per-ounce amounts.
Working Capital
Working capital for the period calculated by subtracting current assets from current liabilities.
(in $m) | Three Months Ended | Year Ended |
Current assets | $ 117.0 | $ 114.5 |
Less: Current liabilities | 48.7 | 50.1 |
Working capital (deficit) | $ 68.3 | $ 64.4 |
Forward Looking Statements
Certain information set forth in this news release contains "forward‐looking statements" and "forward‐looking information" within the meaning of applicable Canadian securities legislation and in applicable
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: expected synergies from acquisition of Florida Canyon; the Company's ability to complete its planned exploration and development programs; the absence of adverse conditions at the Projects; satisfying ongoing covenants under the Company's loan facilities; 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 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; benefits of certain technology usage; 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 public 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. Readers are advised to study and consider risk factors disclosed in Integra's Annual Information Form dated March 26, 2025 for the fiscal year ended December 31, 2024, which is available on the SEDAR+ issuer profile for the Company at www.sedarplus.ca and available as Exhibit 99.1 to Integra's Form 40-F, which is available on the EDGAR 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 news release 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. Investors are urged to read the Company's filings with Canadian securities regulatory agencies, which can be viewed online under the Company's profile on SEDAR+ at www.sedarplus.ca.
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.
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