Mining Stock Daily Operations and Production Update from Integra Resources
Nov 24, 2025
George Salamis, Executive of Integra Resources, shares insights on Q3 production and financial updates for the Florida Canyon Mine. He discusses their strategy to reinvest in the mine for long-term benefits, despite higher all-in sustaining costs currently. The impact of rising gold prices on taxes and royalties is highlighted, with an expected cost increase per ounce. Salamis also provides updates on the DeLamar project, including the feasibility study timeline and collaboration with the BLM for permitting.
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Focused On Consistent Cash Flow
- Integra's goal since turning producer is to prove Florida Canyon can generate consistent, non-lumpy cash flow.
- Management is reinvesting earnings into the mine now to extend life and fund exploration ahead of a mid-year resource update.
High Strip Ratio Is Catch-Up Work
- Higher strip ratio (1.34 vs ~0.9 life-of-mine) reflects catch-up pre-stripping that previous owners didn't complete.
- Reinvestment now raises AISC temporarily but aims to lower costs and improve the mine plan long-term.
Accounting Items Drove Adjusted Earnings
- Major non-cash adjusted earnings items were unrealized derivative losses on the BD convertible loan and deferred tax/ inventory fair-value adjustments.
- These are book impacts, not cash drains, but they materially affected reported adjusted earnings.