Integra Resources Corp. (ITRG): history, ownership, mission, how it works & makes money

A Brief History of Integra Resources Corp. (ITRG)

Formation and Initial Developments

Integra Resources Corp. was founded in 2016, following the acquisition of the DeLamar Gold-Silver Project in Idaho. The company’s primary goal has been to advance its mineral properties, particularly focusing on gold and silver resources.

Public Listing and Financial Growth

Integra Resources Corp. went public on the TSX Venture Exchange under the symbol ITRG on April 19, 2018. By December 2020, the company reported a market capitalization of approximately $100 million.

Key Projects and Exploration

The DeLamar Project is located in the Owyhee County region of Idaho. As of 2021, the project estimated an inferred resource of approximately 2.4 million ounces of gold and 43 million ounces of silver. A preliminary economic assessment (PEA) was conducted and published in December 2019, indicating a potential after-tax NPV of $150 million at a 5% discount rate.

Strategic Partnerships and Financing

In 2021, Integra announced a financing deal amounting to $15 million, utilized for further exploration and development of the DeLamar Project. The financing was structured as a combination of equity and convertible debentures.

Recent Developments

In 2023, Integra Resources focused on advancing the engineering aspects of the DeLamar Project. The company reported a positive feasibility study, indicating a projected annual production of 100,000 oz of gold equivalent over a 10-year mine life.

Corporate Governance and Leadership

The leadership team brought significant industry experience, including figures such as President and CEO George Salamis, with previous roles in mining management. Board members often have extensive backgrounds in engineering, finance, and resource management.

Market Performance and Shareholder Return

As of October 2023, ITRG shares were trading around $2.50 per share, reflecting a significant increase from the initial public offering price. The total shareholder return since listing stands at approximately 200%.

Future Prospects

Integra Resources continues to explore regional properties and aims to enhance its resource base, targeting a resource increase through ongoing exploration initiatives. Additionally, the company plans to evaluate additional joint venture opportunities to accelerate project exploration.

A Who Owns Integra Resources Corp. (ITRG)

Company Overview

Integra Resources Corp. (ITRG) is focused on the acquisition, exploration, and development of mineral properties in the western United States. As of October 2023, the company primarily engages in projects related to gold and silver in Idaho.

Ownership Structure

Integra Resources Corp. has a diverse ownership structure consisting of institutional investors, individual shareholders, and company insiders. The following table summarizes the ownership percentages as of the latest publicly available data:

Key Institutional Investors

The following are the major institutional investors in Integra Resources Corp.:

Insider Ownership

Insider ownership can significantly influence corporate decisions. The following table shows the key insiders and their respective holdings:

Recent Stock Performance

As of October 2023, Integra Resources Corp. has seen fluctuations in its stock price. The following table illustrates the recent stock performance metrics:

Conclusion

Ownership of Integra Resources Corp. reflects a mix of institutional support, retail enthusiasm, and insider confidence, demonstrating a balanced interest among stakeholders in the company’s future prospects.

Integra Resources Corp. (ITRG) Mission Statement

Core Mission

Integra Resources Corp. aims to be a leading mineral exploration and development company that focuses on advancing its projects in a sustainable and responsible manner. The company is committed to creating long-term value for its shareholders by adhering to a strategic approach to exploration and development.

Strategic Objectives

• Enhance shareholder value through systematic exploration and development of resource properties.
• Implement sustainable practices in all operations, minimizing environmental impacts.
• Engage with local communities to promote socio-economic benefits.
• Maintain a strong focus on safety and efficiency in all operations.

Financial Overview

As of the latest financial report for Q3 2023, Integra Resources Corp. reported the following financial highlights:

Project Focus

Integra Resources has a clear project focus, primarily centered on the DeLamar Gold-Silver Project located in Idaho. The project contains significant resources, contributing to the long-term strategy of the company.

Resource Estimates

As of the latest resource estimate, the DeLamar Project reported:

Commitment to Sustainability

Integra Resources is dedicated to responsible mining practices and sustainable development principles, ensuring that its operations meet or exceed regulatory standards while benefiting local communities.

Community Engagement

The company engages in various initiatives to foster good relationships with local stakeholders, promoting education, employment, and infrastructure development.

How Integra Resources Corp. (ITRG) Works

Overview of Integra Resources Corp.

Integra Resources Corp. (ITRG) is a mining company focused on the development and exploration of gold and silver projects in North America. The company primarily operates in the exploration and production sector of the mining industry.

Business Model

Integra Resources Corp. focuses on the following key areas:

• Exploration: Identifying new mineral deposits through geological surveys.
• Development: Progressing projects from exploration to production.
• Production: Extracting gold and silver from its properties.

Key Projects

Integra Resources Corp. is known for its flagship project:

• DeLamar Project: Located in southwestern Idaho, it is a past-producing mine with significant resources.

Financial Performance

Market Position

Integra Resources Corp. operates within a competitive landscape which includes other mining companies focused on gold and silver production. According to the latest data, the global gold market is valued at approximately $240 billion, while the silver market is around $15 billion.

Stock Performance

As of October 2023, the stock price of Integra Resources Corp. (ITRG) stands at $1.20 per share. The 52-week range of the stock price has been between $0.75 and $2.10.

Corporate Governance

The management team of Integra Resources Corp. comprises seasoned executives with extensive experience in mining and financial sectors:

• President and CEO: George Salamis
• CFO: Mike Sweeney
• Board of Directors: A mix of mining professionals and financial experts.

Environmental and Social Responsibility

Integra Resources Corp. is committed to responsible mining practices, engaging in sustainability initiatives and community partnerships.

How Integra Resources Corp. (ITRG) Makes Money

Overview of Revenue Streams

Integra Resources Corp. primarily generates revenue through the exploration and development of mineral properties, focusing on precious metals such as gold and silver. The company's revenue is significantly influenced by market conditions, commodity prices, and operational efficiencies.

Mining Operations

The company engages in mining operations, which involve the extraction of gold and silver from its properties. As of 2023, Integra's flagship project, the Delamar Project, showcases this operational focus.

Joint Ventures and Partnerships

Integra often partners with other mining companies to share resources and knowledge, enhancing its operational effectiveness and reducing financial risks. These partnerships may lead to shared revenue from successful ventures.

• Partnerships with major mining companies
• Joint development agreements
• Revenue sharing from collaborative projects

Capital Expenditures and Funding

Integra Resources Corp. finances its operations through various funding mechanisms, including equity financing, debt, and partnerships. As of 2023, the company reported the following financial data:

Market Conditions and Commodity Prices

Revenue generation is heavily influenced by the fluctuations in the prices of gold and silver. As of October 2023, gold prices are around USD 1,950 per ounce, and silver prices are approximately USD 25 per ounce. The volatility in these prices directly impacts the profitability of Integra's mining operations.

Exploration Activities

Integra continues to invest in exploration efforts, seeking new mineral deposits that could lead to future revenue streams. The exploration budget for 2023 is reported at approximately 10 million CAD.

• Geological surveys
• Drilling programs
• Feasibility studies

Regulatory Environment

The company's activities are subject to various regulations and environmental standards which can impact operational costs. Compliance costs are estimated to be around 2 million CAD per year.

Financial Performance

In terms of financial performance, Integra's latest earnings report for Q3 2023 includes:

Future Projections

Projected revenues for the Delamar Project are estimated to reach up to 50 million CAD annually once operations commence, assuming stable commodity prices and successful production rates.