Northwire Canada EditionThursday, November 12, 2026
Sign inSubscribe
Northwire
⌕
Gold 4,000.50 −0.7% Silver 52.00 +1.5% Copper 6.27 +0.5% Oil 86.53 +0.6% Palladium 1,030.00 +0.9% TIG 0.800 +0.0% RVG 0.715 −4.0% FNV 354.26 −2.4% FDY 4.30 −0.5% MAU 16.05 −3.2% VOXR 6.78 −0.6% TLO 7.04 −1.0% NICU 1.95 −5.8% VTEN 0.440 +0.0% AWM 0.025 +0.0% OR 50.79 −1.8% AUXX 5.30 −5.5% TNR 0.420 +40.0% ORCL 0.030 +0.0% ELD 47.71 −5.4% OPW 0.140 −6.7% Gold 4,000.50 −0.7% Silver 52.00 +1.5% Copper 6.27 +0.5% Oil 86.53 +0.6% Palladium 1,030.00 +0.9% TIG 0.800 +0.0% RVG 0.715 −4.0% FNV 354.26 −2.4% FDY 4.30 −0.5% MAU 16.05 −3.2% VOXR 6.78 −0.6% TLO 7.04 −1.0% NICU 1.95 −5.8% VTEN 0.440 +0.0% AWM 0.025 +0.0% OR 50.79 −1.8% AUXX 5.30 −5.5% TNR 0.420 +40.0% ORCL 0.030 +0.0% ELD 47.71 −5.4% OPW 0.140 −6.7%
Technical Study

INTEGRA FILES FEASIBILITY STUDY TECHNICAL REPORT FOR DELAMAR HEAP LEACH PROJECT

Integra Formalizes DeLamar Economics While Market Eyes $389 Million Construction Funding Gap

By The Northwire Desk — AI Analysis Feb 02, 2026 · 16:05 ITR · 5.01 Integra Resources Corp.
Executive Summary

The most recent news (February 02, 2026) announces the formal filing of the NI 43-101 Feasibility Study (FS) Technical Report for the DeLamar Gold and Silver Heap Leach Project in Idaho. This filing follows the summary results released in December 2025. The study outlines a 10-year mine life producing 106,000 oz AuEq per year at a co-product AISC of $1,480/oz. At a base case of $3,000/oz gold and $35/oz silver, the project shows an after-tax NPV5% of $774 million and an IRR of 46%. The report utilizes an initial capital expenditure (Capex) estimate of $389.1 million.

Material Impact
  • Technical De-risking: The formal filing is a routine but necessary regulatory step that solidifies the economic claims made in December. It provides the technical basis for the federal permitting process currently underway.
  • Economic Sensitivity: While the NPV is robust at $774M (Base Case), the study includes "Recent Prices" sensitivities ($4,500/oz Au) that result in a $1.9B NPV. A critical analyst must note that these "recent" prices are significantly higher than current market spot prices, potentially inflating the perceived upside.
  • Financing Requirement: The $389.1 million initial Capex is a massive hurdle. Despite the company being corporate debt-free after the Beedie conversion, their current cash position ($81.2M as of Q3 2025) covers only ~20% of the required build cost.
  • Operational Synergy: The news confirms the strategy of using Florida Canyon for refining, which reduces the footprint and power needs at DeLamar, a positive for permitting but creates a single-point-of-failure risk if Florida Canyon faces operational halts.
ITR · Price
Company Overview

Integra Resources transitioned from a developer to a producer in late 2024 with the acquisition of the Florida Canyon Mine in Nevada. Its flagship development asset is the DeLamar Project in Idaho. - DeLamar Project: A past-producing open-pit oxide heap leach project. It is currently in the feasibility stage and has been selected for the FAST-41 federal permitting program. - Florida Canyon: An operating mine in Nevada currently generating cash flow to fund the permitting and development of DeLamar.

Read the original news release →

More from Integra Resources Corp.

Nov 11, 2026 · 17:54

Integra cut output by 17% just 20 days after management publicly reaffirmed the production guidance.

Earnings Oct 22, 2026 · 16:05

Integra’s third-quarter gold output rose 8% sequentially but fell 15% year-over-year, requiring a record fourth quarter to meet its annual guidance targets.

Production / Operations Oct 13, 2026 · 06:30

Integra’s DeLamar project remains on track for a 2027 final investment decision despite elevated costs and steady production progress.

Financings Sep 23, 2026 · 06:30

Integra reports best inter-pit grades to date, though near-mine drill results do not significantly impact the project’s net asset value.

Drill Results Aug 11, 2026 · 17:24

Integra’s Florida Canyon gold production rose 30% while cash-cost guidance increased 21% due to higher mining expenses and inflation.

Earnings Jul 30, 2026 · 16:30

Integra’s Florida Canyon filing confirms extended mine life and $0.8 billion free cash flow, though 2026 cost overhang persists.

Technical Study