Pound to dollar outlook: UBS sees GBP/USD rising to 1.40
VANCOUVER - Integra Resources Corp. (TSXV:ITR) (NYSE American:ITRG), a mining company currently valued at $243 million and showing potential upside according to InvestingPro Fair Value metrics, reported Thursday that its Florida Canyon mine in Nevada produced 18,086 ounces of gold during the second quarter of 2025, with gold sales of 18,194 ounces for the period.
The company also disclosed a cash position of $63 million as of June 30, 2025, maintaining strong liquidity with a healthy current ratio of 2.25. According to InvestingPro analysis, Integra holds more cash than debt on its balance sheet, with eight additional key financial insights available to subscribers. The operational update precedes full financial results scheduled for release on August 13.
Mining operations at Florida Canyon processed 3.16 million tonnes of ore during the quarter, including 1.88 million tonnes of crushed material and 1.28 million tonnes of run-of-mine ore. The mine maintained a gold recovery rate of 60.5% with processed ore grade averaging 0.21 grams per tonne. With analysts forecasting 5.82% revenue growth this year, the company’s operational efficiency remains crucial to meeting market expectations.
The operation’s strip ratio increased to 0.96 during the quarter, which the company attributed to increased capitalized waste stripping as part of its reinvestment strategy at the Nevada mine.
"Florida Canyon continues to deliver on our expectations, generating meaningful cash flow to fund significant re-investment into the mine, while also supporting the Company’s broader growth strategy," said George Salamis, President and CEO of Integra Resources, in the press release statement.
Construction of the Phase IIIb heap leach pad at Florida Canyon began during the quarter, with commissioning expected in late 2025.
For the first half of 2025, Florida Canyon has produced 37,410 ounces of gold and sold 37,734 ounces. The company plans to invest approximately $55 million in sustaining and growth capital at Florida Canyon this year.
Integra will host a conference call to discuss its second quarter results on August 14, 2025. Investors seeking detailed financial analysis and exclusive insights can access comprehensive metrics and valuations through InvestingPro, including proprietary Fair Value calculations and growth projections.
In other recent news, Integra Resources Corp. has announced its 2025 production and financial guidance, focusing on the Florida Canyon Mine in Nevada. The company projects gold production to be between 70,000 and 75,000 ounces, with total cash costs estimated between $1,800 and $1,900 per ounce sold. Mine-site all-in sustaining costs are expected to range from $2,450 to $2,550 per ounce sold. Integra plans to allocate $48.0-$53.0 million for sustaining capital expenditures and an additional $8.0-$10.0 million for growth capital expenditures at Florida Canyon. Development projects have been budgeted at $14.5-$15.5 million, with a significant portion directed towards the DeLamar Project in Idaho. Additionally, Integra Resources held its Annual General Meeting, where all proposed resolutions were approved by shareholders. The meeting saw the election of eight directors, including Anna Ladd-Kruger and George Salamis, with strong approval ratings. BDO Canada LLP was appointed as the company’s auditor, and the Amended and Restated Equity Incentive Plan received 99.17% support from disinterested shareholders.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.