Integra Resources Corp announce financial and operating results for the three months ended June 30, 2025 (the second quarter -Q2 2025).
Second Quarter 2025 key takeaways are, mined 3,074,440 tonnes of ore and 2,966,291 tonnes of waste at a strip ratio of 0.96 at the Florida Canyon Mine. The resulting mining rate for the quarter was 33,785 tonnes per day, a 1% increase from Q1 2025. Florida Canyon produced 18,087 gold ounces and sold 18,194 gold ounces at a record average realized price of $3,332 per gold ounce.
Record quarterly revenue of $61.1 million which exceeded Q1 2025 revenue of $57.0 million. Record mine operating earnings of $25.2 million, representing a 41% operating margin, which exceeded the $15.5 million and 27% operating margin achieved in Q1 2025.
Cash costs of $1,849 per gold ounce sold decreased from $2,016 in Q1 2025. H1 2025 cash costs of $1,936 per gold ounce were slightly higher than the Company’s guidance range of $1,800 to $1,900 per gold ounce but are expected to remain within guidance for the year.
Mine-site all-in sustaining costs increased to $2,641 per gold ounce, up from $2,342 per gold ounce in Q1 2025 due to $8.2 million in planned sustaining capital expenditures related to equipment refurbishments, capitalized stripping, and heap leach pad expansions.
Increased sustaining capital for the quarter is consistent with the Company’s commitment to re-invest into Florida Canyon in 2025 and 2026 to ensure long-term profitability. H1 2025 mine-site AISC of $2,486 per gold ounce is within the guidance range of $2,450 to $2,550 per gold ounce.
George Salamis, President, CEO and Director of Integra commented, “We are pleased to report consistent gold production from Florida Canyon and positive financial results from the Company for the second quarter of 2025. Florida Canyon continues to deliver on our expectations, generating meaningful cash flow to fund significant re-investment into the mine, while also supporting the Company’s broader growth strategy.
Integra’s growing cash balance ideally positions the Company to complete important mine-site capital projects at Florida Canyon including, heap leach pad expansions, capitalized stripping, growth drilling, and mining fleet additions and enhancements.
The Company plans to invest over ~$55 million into Florida Canyon this year aimed at near-term improvements and positioning the mine for long-term growth and profitability. The focus for the remainder of 2025 continues to be capital investment and growth at Florida Canyon, permitting advancement and a feasibility study for DeLamar, and continued de-risking activities and advanced study work at Nevada North.”
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