Integra Resources Reports Record Q2 2025 Revenue and Net Earnings, Invests $55M in Florida Canyon Expansion

Integra Resources reported Q2 2025 revenue of $61.1 million, a record, with net earnings soaring to $10.6 million. The Florida Canyon Gold Mine produced 18,087 ounces of gold and achieved revenues boosted by a record average gold price of $3,332 per ounce. The company plans to invest approximately $55 million into Florida Canyon for expansions and upgrades in 2025.

Integra Resources (NYSE: ITRG) delivered robust financial results for the second quarter of 2025, with record quarterly revenue of $61.1 million and net earnings of $10.6 million. The company's Florida Canyon Gold Mine produced 18,087 ounces of gold, driven by a record average gold price of $3,332 per ounce. Integra plans to invest approximately $55 million into Florida Canyon in 2025 for expansions and upgrades.

The company's mine operating earnings reached $25.2 million, representing a 41% operating margin. Cash costs decreased to $1,849 per gold ounce, down from $2,016 in the first quarter. The company ended Q2 with $63.0 million in cash, up 3% from Q1. Integra's net earnings increased significantly to $10.6 million from $1.0 million in Q1, while adjusted earnings reached $11.8 million.

Integra's Florida Canyon Mine achieved a mining rate of 33,785 tonnes per day, a 1% increase from Q1. The company is executing on its plan to invest approximately $55 million into Florida Canyon in 2025, positioning it for long-term growth while maintaining production levels. The cash position improved to $63.0 million, up 3% from Q1 and 21% year-to-date, providing strong financial flexibility as Integra advances its development projects.

Beyond the strong financial performance at Florida Canyon, Integra is making meaningful progress on its development assets. The DeLamar Project in Idaho continues to advance through the permitting process, with the Mine Plan of Operation currently under review by the Bureau of Land Management and cooperating agencies. A full environmental review under the National Environmental Policy Act is expected to commence in H2 2025.

At the Nevada North Project, which includes the Wildcat and Mountain View deposits, the company has achieved significant de-risking steps. Environmental analyses for both deposits' Exploration Plans of Operation have been completed, with a Finding of No Significant Impact for Wildcat. Reclamation permits from Nevada regulatory authorities are expected in H2 2025. Hydrological drilling at Wildcat is planned for H2 2025, which will provide essential data for future development scenarios.

The resource growth drilling program at Florida Canyon has been expanded from 10,000 to 16,000 meters based on initial positive results. This expanded program, focused particularly on historical waste areas, supports the company's strategy of extending mine life and enhancing the operation's value. With results from this program, Integra plans to release an updated mineral reserve and resource estimate along with a new life-of-mine plan in H1 2026, which should provide better visibility into Florida Canyon's long-term production profile.

References:
[1] https://www.stocktitan.net/news/ITRG/integra-reports-second-quarter-2025-results-consistent-performance-n81fxg1pqi3i.html
[2] https://integraresources.com/news/integra-reports-second-quarter-2025-results-consistent-performance-and-significant-capital-investment-at-florida-canyon-gold-mine/