The year may be half over, but Integra Resources (TSXV: ITR) has finally released operational guidance for 2025. The guidance follows the acquisition of the Florida Canyon Gold Mine in late 2024.
Integra is expecting Florida Canyon to produce a total of 70,000 to 75,000 ounces of gold this year, with those ounces expected to be produced at a cash cost between $1,800 and $1,900 an ounce. All in sustaining costs meanwhile are expected to come in between $2,450 and $2,550 an ounce.
On the capital side, sustaining capital expenditures are expected to be in a range of $48 to $53 million, while growth capital expenditures are expected to be in the range of $8.0 to $10.0 million. Outside of Nevada North, project advancement expenses across the DeLamar and Nevada North properties are expected to come in between $14.5 and $15.5 million, while corporate expenses are expected to add a further $7.5 to $8.0 million in additional expenditures.
“When Integra acquired the Florida Canyon Mine in late 2024, the primary goal was to secure a consistent and reliable source of cash flow that would allow the Company to advance its flagship development stage projects, DeLamar and Nevada North, and remove the need for annual equity financing. Florida Canyon has successfully delivered on this objective,” commented Integra CEO George Salamis.
The next 18 months at Florida Canyon is said to be a “capital intensive phase” as improvements continue on site. Efforts on site include a heap leach pad expansion, further capitalized waste stripping, a refreshed equipment fleet, and enhanced mine planning among other items. A revised technical report for the project is expected to be released in the first half of next year.
Elsewhere, federal permitting is expected to occur at the DeLamar project in the second half of this year, while testwork for future economic studies and permitting efforts at Nevada North are also expected to occur this year, thanks in large part to the cash flow generated for Integra by the Florida Canyon mine.
Integra Resources last traded at $2.17 on the TSX Venture.
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