Episode Details

Interview with George Salamis, President and CEO, Integra Resources

Our previous interview: https://www.cruxinvestor.com/posts/integra-resources-tsxvitr-strategic-investment-year-unlocks-80-90k-oz-production-in-2027-2028-9377

Recording date: 29th June 2026

Integra Resources has released a feasibility study for its Florida Canyon gold mine in Nevada, positioning the operation as the financial cornerstone of the company’s growth strategy. The study outlines a strong economic profile, including an after-tax net present value of $601 million at a 5% discount rate and approximately $800 million in cumulative free cash flow over an eight-year mine life. Notably, the project requires no upfront capital, as the mine is already built, permitted, and operating.

A key highlight is the substantial increase in the mine’s scale, with reserves rising by 78% and resources by 128%. This growth stems from 18 months of geological reinterpretation, infill drilling, improved mine planning, steeper pit slope designs, and increased use of ore crushing to enhance recovery. These changes have reshaped the understanding of the deposit, moving beyond simple grade-based models to incorporate structural and lithological controls.

In the near term, operations will focus on an intensive waste-stripping campaign to access higher-grade ore zones in the Main C pits. While this phase will keep costs elevated, the company expects all-in sustaining costs to decline toward an average of about $2,300 per ounce over the life of the mine once higher-grade material is reached.

Florida Canyon’s cash flow is expected to fund ongoing operations and support Integra’s broader development pipeline, including the DeLamar project, targeted for construction in roughly two years with partial debt financing, and the Nevada North project. This self-funding model reduces reliance on equity financing and potential shareholder dilution.

Additionally, a 42,500-metre drilling program is underway to expand resources further, including exploration of previously underexplored areas and the historical Standard Mine target, marking the first drilling there in 15 years.

Learn more: https://www.cruxinvestor.com/companies/integra-resources

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