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Integra Resources Corp. (ITRG)

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Last Post: 7/23/2021 5:32:04 PM - Followers: 7 - Board type: Free - Posts Today: 0

Integra Resources (NYSE American: ITRG; TSX-V: ITR)

Integra Resources Corp. is a development-stage mining company focused on the exploration and de-risking of the past producing DeLamar Gold-Silver Project in Idaho, USA. Integra is led by the management team from Integra Gold Corp. which successfully grew, developed and sold the Lamaque Project, in Quebec, for C$600 M in 2017.

"Integra Resources has pretty much everything going for itself as even the gold price is cooperating. We expect to see in excess of 5 million gold-equivalent ounces in the next resource update (H1 2021) and this updated resource will be the basis for a pre-feasibility study which should be ready by the end of next year. There still are a lot of moving parts and we’ll only be able to figure out how good the 2021 PFS will be after seeing the resource update. In any case, at $1900 gold we will probably see an after-tax NPV5% exceeding US$1B but it obviously wouldn’t be reasonable to use a multi-year high gold price as base case scenario, and we would expect Integra to use $1400-1500 gold (depending on the gold market in 2021) in which case we expect to see an after-tax NPV exceeding US$600M. The DeLamar project is shaping up like it could be Idaho’s next major gold mine, and we expect the pre-feasibility study in 2021 to confirm the viability of this project, even at a substantially lower gold price than what the yellow metal is trading at these days."


Most recent presentation: https://www.youtube.com/watch?v=7xP_U7DfxJg
Recent BMO conference interview: https://bmo.qumucloud.com/view/2021-gmm-integra#/

Must watch:

Integra Resources (ITR) - High-Grade + Bulk Gold & Silver Developer
Integra Resources - Please do it again, Just do it again

Analysis and reading:


Share Structure

Issued and outstanding common shares as of February 3, 2021:  54,793,577   

Fully Diluted : 59,910,909


Notable Shareholders

Largest shareholder: Sprott Asset Management LP  6.74% (increased their position by more than 20% in Q4 2020)

Mining company: 
Coeur Mining, Inc. 5.57%

Management: George Gregory Salamis (CEO) 2.72%
                        Stephen de Jong (Chairman) 1.81%

Ross Beady and Pierre Lassonde are also shareholders

Retails: ~53%
Insiders: ~12%
Institutions & Coeur Mining: ~35%

Resources (Will be updated on Q2 2021)

• 3.9 M oz AuEq (M&I) and 0.5 M oz AuEq (Inf.)

Silver (One of the biggest undeveloped Silver deposit in the USA)
M&I 116,514,000 oz Ag
Inferred 12,240,000 oz Ag

M&I 2,376,000 oz Au

Inferred 343,000 oz Au

Recent Exploration Highlights 

Florida Mountain
Integra Resources Intersects 4.53 g/t Gold and 262.67 g/t Silver Over 85.35 m at Florida Mountain, Including 11.74 g/t Gold and 652.45 g/t Silver Over 30.48


Integra Continues to Display Size Potential, Intersecting 1.12 g/t AuEq Over 283.46 m at the DeLamar Deposit


Drill hole IMS-20-015 1.43 g/t AuEq over 78.94 m


War Eagle

Integra Resources Intersects 24.20 g/t Gold and 655.06 g/t Silver Over 7.62 m 400 m North of 2019 Drilling at War Eagle



>>> Georgianna // Lucky days Grassroots Discoveries

Drill hole IGE-20-002

0.66 grams per tonne (“g/t”) gold (“Au”) and 117.25 g/t silver (“Ag”) (2.17 g/t gold equivalent (“AuEq”)) over 10.67 meters (“m”), including 1.48 g/t Au and 351.00 g/t Ag (5.99 g/t AuEq) over 3.05 m
Broader low-grade intercepts include 0.30 g/t Au and 10.87 g/t Ag (0.44 g/t AuEq) over 41.76 m

Lucky Days
Drill hole LDE-21-002
0.50 g/t Au and 41.15 g/t Ag (1.03 g/t AuEq) over 25.15 m, including 2.13 g/t Au and 213.28 g/t Ag (4.87 g/t AuEq) over 2.13 m

ECONOMICS PEA (PFS exp. Q3/Q4 2021)

• Large, heap leach operation plus mill

•Compelling PEA (For an operation that the management can build - PFS will be for a larger operation with production of around 180 Koz per annum for a mid-tier or major producer)

Initial Capex US$161 million

After-tax NPV5% ($1,350/oz Au) US$358 million - PROFITABILITY INDEX: 2.2X

Production Profile 124 Koz AuEq per year for 10 years / Yr 2 to Yr 6 annual average of 148 k oz Au Eq  
Total AISC: US$742 / oz AuEq 

US$/oz Au     US$/oz Ag      After-tax NPV(5%)           IRR                  Payback (Years)                   Cumulative LOM Free Cash Flow (US$ MM) 
                                                 U$S MM    

$1,350            $16.90                 $357.6                       43%                      2.35                                                      $528.2
$1,800            $22.53                 $675.4                       74%                      1.48                                                      $950.7

Upcoming potential Catalysts:

10,000 m drill program underway for 2021 with drill to completed at Blacksheep (Discovery drilling), Florida Mountain (High grade and Bulk-Expansion) and War Eagle (High Grade-discovery)

43-101 resource update in Q2

Prefeasibility study expected in September or October

Submission of Plan of Operations (mine plan) to the Bureau of Land Management in Idaho Q1 2022

Current Price
Bid Ask Day's Range
  • 1D
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  • 6M
  • 1Y
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ITRG News: Voting Results for the Annual General Meeting of Shareholders Held on June 29, 2021 06/30/2021 08:00:00 AM
ITRG News: Integra Advances ESG Program: Signs MOU with Trout Unlimited, Engages Warm Springs Consulting for Sustainability Trade-Off St... 06/29/2021 06:00:00 AM
ITRG News: Integra Intersects 3.20 g/t Gold and 790.50 g/t Silver (13.37 g/t AuEq) Over 6.71 m, Including 27.04 g/t Gold and 6,631 g/t S... 06/03/2021 06:00:00 AM
ITRG News: Integra Intersects High Grade Gold-Silver at Florida Mountain, Continues Exploration Success at Lucky Days, Adds Two Addition... 04/08/2021 06:00:00 AM
ITRG News: Adelaide Capital Idaho Conference April 8th, 2021 04/07/2021 08:13:41 AM
#19  Sticky Note Florida Mountain recent results by George Salamis CEO bio1275 02/22/21 04:59:26 AM
#68   http://www.kereport.com/2021/07/21/integra-resources-a-comprehensive-update-on-t bio1275 07/23/21 05:32:04 PM
#67   Sure my old friend. If you need anything bio1275 07/12/21 07:39:18 AM
#66   Thank you for the info, i believe i Mason07 07/12/21 07:36:35 AM
#65   They sold their previous project to Eldorado. Which bio1275 07/11/21 01:58:45 PM
#64   Sounds like a great company with a great Mason07 07/10/21 09:15:38 AM
#63   Yes that’s right. With the resource update at bio1275 07/10/21 02:30:21 AM
#62   Am i correct when i say they have Mason07 07/09/21 06:57:01 PM
#61   Welcome aboard Mason! My average is close to bio1275 07/09/21 04:30:50 PM
#60   Thanks for the response, will probably jump in Mason07 07/09/21 03:00:06 PM
#59   Very happy to hear from you Mason07! The bio1275 07/09/21 02:41:17 PM
#58   Bio, just started looking at this, can you Mason07 07/09/21 10:53:06 AM
#56   Integra Intersects 3.20 g/t Gold and 790.50 g/t bio1275 06/03/21 07:08:09 AM
#55   COO Tim Arnold, has been awarded the University bio1275 05/20/21 06:57:07 PM
#54   ITRG vs ABRA https://twitter.com/ronalds_aucu/status/1395424990271610887?s=21 bio1275 05/20/21 01:09:44 PM
#53   STIFEL PT 8CAD https://twitter.com/Pete__Panda/status/1395343054769430532 bio1275 05/20/21 10:50:24 AM
#52   https://cdn-ceo-ca.s3.amazonaws.com/1gabjrf-Desjardins+MAI+Initiation+May+2021.p bio1275 05/20/21 10:48:24 AM
#51   Act like a gold stock for once. Woof bio1275 05/19/21 11:57:45 AM
#50   Sprott Inc 3,953,003 +274,502 bio1275 05/18/21 04:11:02 PM
#49   Sprott Inc bio1275 05/17/21 01:44:19 PM
#48   Biggest shareholder Sprott Inc. increased their holdings around bio1275 05/17/21 12:10:19 PM
#47   Disappointing performance. They need to understand why. bio1275 05/03/21 03:38:31 PM
#46   Good comments on $ITR.V (at 24:00 min) https://twitter.com/joemazumdar/status/ bio1275 04/28/21 02:31:01 PM
#45   Bye bye weak hands. You will not be bio1275 04/23/21 04:03:13 PM
#44   And I thought weak hands are gone by bio1275 04/22/21 03:46:36 PM
#43   New discussion https://twitter.com/trevahall/status/1384958132930195456?s=21 bio1275 04/21/21 05:28:22 PM
#42   Soar https://youtu.be/cXnOfucSKJw bio1275 04/20/21 09:02:44 AM
#41   New https://twitter.com/integraresource/status/1384159000699179032?s=21 bio1275 04/19/21 10:58:03 AM
#40   Adelaide Conference Presentation https://www.youtube.com/watch?v=7xP_U7DfxJg bio1275 04/13/21 02:30:33 PM
#39   Hello everybody! bio1275 04/12/21 11:50:06 AM
#38   Aspirations, Philosophy & Strategy of Emerging Gold Producers bio1275 04/12/21 11:46:13 AM
#37   https://www.caesarsreport.com/blog/integra-resources-high-grade-gold-at-florida- bio1275 04/11/21 06:17:03 PM
#36   Integra Intersects High Grade Gold-Silver at Florida Mountain, bio1275 04/08/21 07:21:17 AM
#35   https://twitter.com/soarfinancial/status/1379095155127373829?s=21 bio1275 04/06/21 07:33:39 PM
#34   Check out the Idaho CEO Roundtable for why bio1275 03/19/21 06:27:30 PM
#33   Recent BMO conference interview: bio1275 03/17/21 03:19:26 PM
#32   The M&A show begun? All cash with 59% bio1275 03/10/21 02:18:05 PM
#31   As you’ll notice, it’s not easy to single bio1275 02/27/21 10:00:37 AM
#30   George Salamis commentary on the latest drill results bio1275 02/24/21 01:40:16 PM
#29   Idaho is one of the best places for bio1275 02/24/21 01:17:07 PM
#28   Integra Resources has pretty much everything going for bio1275 02/22/21 01:57:25 PM
#27   You are welcome. Yes, this one works very bio1275 02/22/21 11:57:16 AM
#26   Thanks for posting this link. I will douginil 02/22/21 11:53:37 AM
#25   Welcome douginil. Yes, it was available as soon bio1275 02/22/21 11:15:18 AM
#24   Nice video, was it originally available on Dec douginil 02/22/21 11:02:25 AM
#23   NET institutional inflow +862786 shares on Q4 2020 bio1275 02/22/21 05:10:02 AM
#22   Integra Resources: BlackSheep Drill Results bio1275 02/22/21 05:05:37 AM
#21   Integra Resources War Eagle Results - November 2020 bio1275 02/22/21 05:04:46 AM
#20   Integra Resources CEO George Salamis Explains the Florida bio1275 02/22/21 05:03:35 AM
#19   Florida Mountain recent results by George Salamis CEO bio1275 02/22/21 04:59:26 AM
#18   Funds holding ITRG https://www.holdingschannel.com/funds/holding-itrg/ bio1275 02/21/21 06:51:43 PM
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