- Integra Resources (ITRG, Financial) reported Q1 2025 gold production of 19,323 ounces, surpassing expectations.
- Integra strengthened its financial position with a cash balance of $61.1 million as of March 31, 2025.
- The Florida Canyon Mine achieved a gold recovery rate of 60.4% and maintained a favorable strip ratio of 0.60.
Integra Resources (ITRG) demonstrated strong operational performance in the first quarter of 2025 at its Florida Canyon Mine, with gold production reaching 19,323 ounces. This output exceeded company expectations, boosted by an efficiency improvement project that recovered approximately 2,000 ounces of previously unrecovered gold.
The mine processed a total of 2,963,000 tonnes of ore, achieving an average processed grade of 0.23 grams per tonne (g/t) of gold and a gold recovery rate of 60.4%. Notably, the mine's strip ratio was maintained at an efficient 0.60, indicating a low amount of waste material moved compared to ore-bearing rock, which typically results in reduced mining costs.
Financially, Integra reported a cash balance of $61.1 million and a working capital of $68.3 million as of March 31, 2025. This robust cash position equates to about 21.4% of the company's market capitalization, offering significant operational flexibility moving forward.
The company continues to make strides in operational enhancements with the ongoing ramp-up of solution flow rates through its heap leach pads and the newly commissioned carbon-in-column circuit, which were introduced in late 2024. These improvements suggest the potential for continued strong performance beyond the one-time recovery initiatives.
Integra Resources plans to release its full Q1 2025 financial results after market close on May 14, 2025, with a conference call scheduled for May 15, 2025, to discuss the details further.
