Integra Resources Sees Production Boost and Share Growth Following Florida Canyon Acquisition

This year marks Integra’s first complete reporting of production since it acquired Florida Canyon in mid-2024.

In response to positive news, shares of Integra Resources climbed 12% on Thursday morning in New York. This surge elevated the miner’s market capitalization to $288 million.

The increase in Florida Canyon’s production was supported by the development and implementation of the new Phase III-A south heap leach pad, as well as improvements to the solution processing systems.

Additionally, Integra announced a gold price protection program for its 2025 production at Florida Canyon. This strategy includes the purchase of put options to ensure a minimum price for gold while still allowing for potential gains from price increases.

The protection program covers 37,800 ounces of put options, with a strike price of $2,400 per ounce. These options are distributed throughout January to December 2025, representing about 54% of the expected gold production for that year at Florida Canyon.

As of December 31, 2024, the company’s unaudited cash balance was reported at $52 million.

Florida Canyon has a rich history of operations, functioning continuously from 1986 to 2011 before ceasing production. It resumed operations intermittently until 2015 and restarted again in mid-2016.

Besides Florida Canyon, Integra’s operations extend to its Nevada North development project and the Delamar project located in southwest Idaho. Together with Florida Canyon, these endeavors are projected to yield over 250,000 ounces of gold equivalent annually.