Integra Resources (ITR.V, ITRG) continues to increase its production rate at the Florida Canyon gold mine in Nevada. The Q3 production came in about 8% higher compared to the Q2 production rate, while the 17,652 ounces of gold that were produced represent a 40% higher output compared to the first quarter of the year, which was projected to be the weakest quarter of the year.
This brings the total production in the first nine months of the year to 46,666 ounces of gold, and as Integra maintains its full-year production guidance at 70,000-75,000 ounces of gold, it needs to recover at least 23,300 ounces of gold in the current quarter to meet the lower end of that guidance. This would represent another important step up from the Q3 production rate.
While we have to wait a few more weeks to see the detailed financial results, Integra already disclosed its cash position increased to US$119M. This of course puts the company in a strong position to continue to invest in Florida Canyon (where the sustaining capex should start to decrease substantially in both 2027 and 2028) while the permitting process at DeLamar in Idaho is ongoing. A Final Investment Decision at DeLamar is still expected in the second half of 2027.
We will follow up on Integra after the company publishes its financial results for the third quarter of this year.
Disclosure: The author has a long position in Integra Resources. Integra is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
