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Integra Resources Corp. (ITRG)

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Last Post: 2/24/2021 1:40:16 PM - Followers: 6 - 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://youtu.be/NG-FS7pb4h8

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




• 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 updated 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
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ITRG News: Integra Resources Announces the Appointment of Carolyn Clark Loder to its Board of Directors 06:00 AM
ITRG News: Integra Resources Announces High-Grade Gold and Silver Discoveries in the BlackSheep District, Including 351.0 g/t Ag and 1.4... 02/18/2021 06:00:00 AM
ITRG News: Integra Resources Provides Update on Pre-Feasiblity Study and 2021 Exploration Plan at the Delamar Project 01/21/2021 06:00:00 AM
ITRG News: Integra Resources Establishes ATM 12/30/2020 05:25:49 PM
ITRG News: Integra Resources Announces Annual Grant of Equity Incentive Awards 12/15/2020 10:53:01 PM
News News Alert: Integra Resources Announces the Appointment of Carolyn Clark Loder to its Board of Directors 02/25/2021 06:00:00 AM
#19  Sticky Note Florida Mountain recent results by George Salamis CEO bio1275 02/22/21 04:59:26 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
#17   Presentation from the CEO in a Chinese bio1275 02/20/21 01:47:38 PM
#16   Canadian Gold Juniors Valuations: Q1 2021 If we bio1275 02/20/21 01:41:02 PM
#15   Are you still in my old K92 friend? bio1275 02/20/21 02:21:56 AM
#14   Analysis of the third biggest shareholder of Integra bio1275 02/20/21 02:16:17 AM
#13   Upcoming potential Catalysts: bio1275 02/20/21 02:11:37 AM
#12   Integra Resources Announces High-Grade Gold and Silver Discoveries bio1275 02/20/21 02:07:54 AM
#11   Sprott Inc. reports 20.15% increase in ownership of bio1275 02/20/21 02:06:07 AM
#9   "Coeur Mining, Inc., which held approximately 4.8% of MuskVoice 01/12/21 07:46:46 AM
#8   IRRZD changed to ITRG. Moved to the AMEX Renee 07/31/20 08:45:25 AM
#7   $IRRZD Integra Drills High Grade Gold AskMuncher 07/31/20 04:27:29 AM
#6   IRRZF: effective July 9,2020 a one for 2.5 Renee 07/08/20 08:48:22 AM
#5   Nice Corporate Profile on IRRZF: https://privateequitymarkets.us/integra-resourc makebucks77 02/02/20 04:35:46 PM
#4   IRRZF has been doing very well recently. The conix 10/11/19 08:20:14 AM
#3   IRRZF Chart conix 02/02/19 10:55:10 AM
#2   I just started building a long term position Edge83 01/29/19 02:27:00 PM
#1   News out on Integra Resources conix 01/27/19 03:38:17 PM
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