Mining Stock Daily

Morning Briefing: Integra Resources Publish the DeLamar Feasibility Study

Dec 18, 2025
Integra Resources unveils a lucrative feasibility study for the DeLamar project, boasting an impressive after-tax NPV of $774 million and a 46% IRR. Cartier Resources reports a significant update with a 48% boost in their Cadillac resource estimate. Vizsla Silver expands its territory with a strategic claim acquisition near Panuco. Heliostar Metals is back in action, restarting operations at San Augustine, while Orla Mining pushes the boundaries by extending high-grade gold discoveries at Musselwhite. Hemlo Mining celebrates its first gold pour post-acquisition!
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INSIGHT

DeLamar Shows Robust Project Economics

  • Integra's DeLamar feasibility shows strong project economics with a $774M after-tax NPV at $3,000/oz gold and $35/oz silver.
  • The study forecasts a 46% after-tax IRR and a $389M capex for a heap-leach operation in Idaho.
INSIGHT

Stockpiles Extend Mine Life And Output

  • Including stockpiles extends DeLamar's mine life to 10 years and boosts life-of-mine production to 1.1Moz gold equivalent.
  • Reported life-of-mine all-in sustaining costs are $1,143/oz gold and $1,480/oz gold equivalent.
INSIGHT

Cartier Adds Significant Resource Growth

  • Cartier's updated resource for Cadillac now totals about 767,800 ounces M&I and ~2.5M ounces inferred after large historic and recent drilling.
  • The resource rose notably with a 48% increase in inferred ounces and remains open at depth and along strike.
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