Integra Resources Posts Record Florida Canyon Output as Costs Surge

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โดย Insider Monkey·US·Read original
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Integra Resources reported second-quarter results on August 11 that showed record mining volume at its Florida Canyon mine alongside sharply higher costs. Gold production rose 30% from the first quarter to 16,379 ounces, revenue climbed to $70.8 million from $61.1 million a year earlier, and free cash flow reached $9.3 million, or $0.05 per share, up from $2.1 million, or $0.01 per share, a year earlier. The company kept its full-year guidance of 70,000 to 75,000 ounces intact, but cash costs averaged $2,495 per ounce and mine site all-in sustaining costs averaged $3,371 per ounce, both well above the $1,849 and $2,641 per ounce reported a year earlier, prompting Integra to raise full-year cost guidance to $2,300 to $2,500 per ounce for cash costs and $3,300 to $3,500 per ounce for AISC. Recovery rates slipped to 57.8% from 60.5%, and mine operating earnings of $23.4 million came in below the $25.2 million recorded a year earlier. An updated feasibility study for Florida Canyon outlined an eight-year mine life, a 74% increase in proven and probable reserves, and $601 million in after-tax net present value, while a separate feasibility study on the DeLamar project put its after-tax net present value at $774 million using base case gold and silver prices of $3,000 and $35 an ounce, with the DeLamar environmental review not expected to produce a final decision until the second half of 2027.

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Integra Resources Corp
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Record Q2 gold output and higher revenue/FCF offset by sharply higher cash costs and AISC and raised cost guidance, with mine operating earnings below year-ago.

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