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NEW YORK - Integra Resources Corp. (NYSE:ITRG) reported fourth quarter earnings and revenue on Thursday that were largely in line with analyst expectations, as the company transitioned to gold producer status following its acquisition of the Florida Canyon mine.
The company’s shares edged down -1.4% in after-hours trading following the earnings release.
The precious metals miner posted adjusted earnings of $0.02 per share on revenue of $30.4 million for the quarter ended December 31, 2024. This marked Integra’s first quarterly report as a gold producer after completing the acquisition of Florida Canyon Gold Inc. in November.
From November 8 to December 31, Integra produced 10,984 ounces of gold at Florida Canyon and sold 11,382 ounces at an average realized price of $2,643 per ounce. Cash costs were $1,884 per ounce sold, while all-in sustaining costs came in at $2,103 per ounce.
"2024 marked a transformational year for Integra as the Company officially transitioned from developer to gold producer status with the acquisition of Florida Canyon," said George Salamis, President and CEO of Integra. "We are pleased to report inaugural earnings results as a producing company and demonstrating the capabilities of Florida Canyon to generate cash flow to support the advancement of our key development projects."
For the full year 2024, Florida Canyon produced a record 72,229 ounces of gold, exceeding previously stated guidance.
Integra ended the year with a cash balance of $52.2 million and working capital of $64.4 million.
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