Integra Resources Announces Record Production Results and Gold Price Protection Program at Florida Canyon Mine
Vancouver, BC, January 22, 2025 – Integra Resources Corp. (Integra or the Company), a professional, educated, and profit-focused mining company with principal assets in Nevada (TSXV: ITR, NYSE American: ITRG), is pleased to announce its record-breaking fourth quarter and full year 2024 production results from its flagship asset, the Florida Canyon Mine. The Company also provides the unaudited 2024 year-end cash balance and announces the implementation of a gold price protection program for 2025 production.
Record Production Results
The Florida Canyon Mine achieved impressive production figures in Q4 2024 and throughout the year. In Q4 2024, the mine produced a total of 18,500 ounces of gold and 143,000 ounces of silver. This represents a 21% increase in gold production and a 4% increase in silver production compared to the same quarter the previous year. For the full year 2024, the mine produced a total of 67,000 ounces of gold and 541,000 ounces of silver, marking a 17% increase in gold production and a 2% increase in silver production compared to 2023.
Unaudited Year-End Cash Balance
Integra Resources reported an unaudited year-end cash balance of $55 million, a significant increase from the previous year’s balance of $40 million. This strong financial position will enable the Company to continue its operations and investment in the development of its assets.
Gold Price Protection Program
To mitigate the risks associated with gold price volatility, Integra Resources has implemented a gold price protection program for its 2025 production at Florida Canyon Mine. This program will provide the Company with a hedge against potential gold price declines, ensuring a minimum selling price for its gold production. The program covers approximately 50% of the Company’s expected 2025 gold production.
Effect on Individuals
Investors:
- Investors in Integra Resources may benefit from the Company’s record production results and strong financial position, potentially leading to increased share value.
- The gold price protection program may provide added reassurance for investors, mitigating the risks associated with gold price volatility.
Consumers:
- The record production results and increased financial position of Integra Resources may contribute to a stable supply of gold and silver, potentially maintaining consistent prices for consumers.
Effect on the World
Economy:
- Increased gold and silver production from the Florida Canyon Mine could contribute to a stable global supply of these precious metals, potentially influencing the overall economy.
Environment:
- Integra Resources’ commitment to environmentally responsible mining practices at the Florida Canyon Mine could set a positive precedent for the industry, contributing to a more sustainable mining sector.
Mining Industry:
- The success of Integra Resources at the Florida Canyon Mine could inspire confidence in the mining industry, potentially leading to increased investment and innovation.
Conclusion
Integra Resources Corp.’s record production results, strong financial position, and implementation of a gold price protection program at the Florida Canyon Mine highlight the Company’s commitment to profitability, risk management, and long-term growth. These developments could have significant positive impacts on investors, consumers, the economy, the environment, and the mining industry as a whole.
As we move into 2025, Integra Resources remains focused on driving value for all stakeholders and continuing its efforts to responsibly develop its assets in Nevada.
