Integra Resources Corp. [ITR-TSXV, ITRG-NYSE] said Monday it has raised US$61 million from a bought deal offering that consisted of 18.1 million common shares priced at US$3.40 per share. It said the amount raised included the full exercise of the over-allotment offering by the underwriters. Net proceeds will be used to fund pre-production capital expenditures at the DeLamar Project gold and silver project in southwestern Idaho, including procurement work, early works and land purchase.
Integra’s principal operation is the Florida Canyon Mine in Nevada. The company is also committed to advancing development-stage heap leach projects, including the DeLamar and Nevada North projects. Nevada North is located in western Nevada.
Integra acquired the DeLamar Gold and Silver Project from Kinross Gold Corp. [K-TSX,NYSE] in September, 2017 for $7.5 million in cash and issued a number of shares equal to 9.9% of Integra’s outstanding equity.
The project includes the historic Kinross DeLamar Mine that closed in 1998 due to low precious metal prices. DeLamar produced 1.6 million ounces of gold and 100 million ounces of silver. It includes the adjacent DeLamar and Florida Mountain gold and silver deposits located in Owyhee County.
“Following significant permitting milestones in early 2026 – including receipt of a 15-month NEPA permitting timeline and FAST-41 project designation from U.S. federal regulators – together with the receipt filing of the DeLamar Project Feasibility Study, this oversubscribed financing positions Integra to capitalize on a clear execution window,’’ said Integra President and CEO George Salamis.
Since acquiring the project, the company has demonstrated significant resource growth and conversion while providing robust economic studies in its maiden preliminary economic assessment (PEA), pre-feasibility study, and now feasibility study in late 2025. The feasibility study confirmed robust economics for a low-cost, large-scale, conventional open-pit heap leach operation with competitive operating costs and high rate of return. The feasibility study outlines total production of 1.1 million ounces of gold equivalent (AuEq) over a 10-year mine life (plus two years of residual leaching), resulting in average annual production of 106,000 ounces AuEq at a co-product mine-site all-in sustaining cost of US$1,480 an ounce.
Total initial capital costs are pegged at US$389, (includes US$38 million of owners’ cost) and sustaining capital of US$305 million.
“The feasibility study has defined the early works that can be advanced ahead of a Record of Decision, enabling us to fund procurement, land acquisition, and other low-risk activities that shorten the development timeline and reduce execution risk at DeLamar,’’ said Salamis.
On Monday, Integra shares edged up 0.214% or $0.01 to $4.69.
Source: Resource World Magazine – Read More
