By Robb M. Stewart

Integra Resources plans to invest significantly in its recently acquired gold mine in western Nevada, an operation it said is already generating the cash flow needed to help advance its flagship development projects.

On Florida Canyon mine:

The Vancouver, British Columbia, mining company said Thursday it expects to produce between 70,000 and 75,000 ounces of gold from the Florida Canyon mine this year. The mine-site all-in sustaining cost for the operation is projected at $2,450 to $2,550 an ounce sold.

Integra expects to spend $8 million to $10 million in capital on growth efforts at the mine this year.

The company late last year closed a roughly $69 million deal to buy Florida Canyon Gold, bringing with it an open-put mining operation in Nevada and building a precious metals producer focused on the Great Basin of the Western U.S. that had immediate gold production of about 70,000 gold-equivalent ounces a year from the Florida Canyon mine.

Integra said that in the current gold price environment Florida Canyon is generating greater-than-expected cash flow, which has significantly improved the company's financial position and ability to execute its strategy. The primary goal of buying Florida Canyon was to secure a consistent source of cash flow that would allow Integra to push ahead with its flagship development-stage projects and remove the need for annual equity financing.

The company said Florida Canyon will see significant re-investment during the remaining quarters of 2025 and into 2026. Major investments are underway in key areas including a heap leach pad expansion, increased capitalized waste stripping, a revitalized mobile equipment fleet, process optimization, and enhanced mine planning.

The goal is to sustain and grow Florida Canyon and extend its mine life, the company said.

On development projects:

Integra said it remains committed to advancing its heap leach projects, the previously producing DeLamar project in southwestern Idaho and the Nevada North project in western Nevada. Total expected project development spending in 2025 is between $14.5 million and $15.5 million, it said.

The company said that at DeLamar, efforts in 2025 will be focused on the completion of a feasibility study and securing a permit. A total of $12 million to $12.5 million has been allocated to advancing DeLamar in 2025, it said.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

June 26, 2025 07:28 ET (11:28 GMT)

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