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Integra Resources Corp.’s Florida Canyon mine in Nevada supplies all its current production and revenue. It extracts ore from an open pit, crushes it and uses a solution to recover gold from stacked ore—a process called heap leaching. Gold sales provide most revenue, with silver also sold. Buyers are mainly bullion traders, and prices are set at sale using market prices or mutual agreement.
Sales are concentrated among two customers, one buying most of the output and the other much of the rest. Integra says it is not economically dependent on either because gold can be sold through many global traders. The business instead depends heavily on Florida Canyon’s production, gold recovery, operating costs and the gold price.
Integra is also advancing DeLamar in southwestern Idaho and Nevada North in western Nevada, both development-stage projects rather than producing mines. Construction and operation require further environmental and mining permits. Mining also depends on maintaining water rights and complying with environmental and reclamation requirements.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
McEwen Inc.’s Gold Bar and Integra’s Florida Canyon share exposure to Nevada gold-mining conditions: both mine open pits and recover gold by leaching stacked ore.
i-80 Gold Corp. and Integra develop Nevada gold deposits, drawing on the same regional pool of mining workers, infrastructure and development capital. Watch i-80’s progress at Granite Creek and Ruby Hill for a comparison with the conditions facing Integra’s Nevada North development.
Coeur Mining’s Rochester and Wharf offer an operating comparison for Integra’s Florida Canyon: all recover precious metals by leaching stacked ore in the United States.
Equinox Gold Corp. and Integra both sell gold and hold western U.S. mining assets, so gold prices, permitting and development costs matter to both. Equinox sells refined gold to bullion banks, traders and refiners; its Castle Mountain Phase 2 permitting progress is the development news to watch alongside Integra’s projects.
Kinross Gold and Integra both mine gold for the bullion market and operate in the western United States, sharing exposure to gold prices and U.S. mining costs. Kinross sells refined gold to banks and refiners; Bald Mountain and Round Mountain provide the relevant operating comparison rather than its overseas mines.
Idaho Strategic Resources, Inc.’s Golden Chest and Integra’s Florida Canyon both provide exposure to producing gold in the United States. Watch Golden Chest’s gold production and processing at the New Jersey Mill for that comparison, rather than Idaho Strategic’s rare-earth exploration news.
Contango Silver & Gold Inc. receives cash from Alaska’s Manh Choh gold production, while Integra earns operating cash flow from Florida Canyon in Nevada. Contango received $102.0 million in fiscal 2025 through its 30% interest in Peak Gold JV—cash distributions, not sales revenue—so those distributions are the line to watch.
Barrick Mining’s Nevada gold mines and Integra’s Florida Canyon share exposure to gold prices and regional mining conditions.
Integra’s future production would pay Triple Flag Precious Metals Corp. a share of metal-sale proceeds from DeLamar and Mountain View, so Integra’s development progress determines when those royalties can begin. At DeLamar, the 2.5% net smelter returns royalty covers more than 90% of current resources and reserves and falls to 1.0% after cumulative payments reach C$10 million.
Integra’s future DeLamar metal production would pay Wheaton Precious Metals a 1.5% net smelter returns royalty across all project claims. Wheaton also has the right to match future royalty, metal-purchase and prepayment deals on all Integra properties, making Integra’s financing announcements relevant as well as DeLamar’s production progress.
Alamos Gold and Integra earn their mining revenue mainly from gold, so the gold price drives both companies’ operating margins. Alamos’s producing mines in Canada and Mexico provide the operating comparison; its Lynn Lake construction project is not yet a source of gold production.
IAMGold Corporation and Integra combine producing gold mines with projects under development, so gold prices affect both current earnings and the economics of future mines. IAMGold’s Côté Gold, Westwood and Essakane are operating mines; Nelligan is the exploration project to follow for the development side of that comparison.
Skeena Resources Limited’s Eskay Creek and Integra’s DeLamar both need favorable gold economics and capital to become producing mines. Skeena has received upfront funding in return for delivering part of Eskay Creek’s future gold to Orion; watch its completion timing because delays increase the share of gold it must deliver.
Aris Mining Corporation and Integra sell gold from operating mines while spending on additional projects, sharing exposure to gold prices and development outlays. Aris sells unrefined gold bars to refiners; watch Segovia’s ramp-up after its plant expansion and construction at Marmato for the balance between production and growth spending.
Aura Minerals Inc. shares Integra’s main exposure to gold prices, although Aura also sells copper concentrate into global markets. Gold supplied 73% of Aura’s revenue in 2025, so its gold-sales results are the closer comparison for Integra than its copper business.
Newmont and Integra both produce gold, so bullion prices and labor, energy and equipment costs shape their mining margins. Watch Newmont’s mining-cost commentary alongside gold production to distinguish a stronger gold market from relief on the costs that also matter to Florida Canyon.
Agnico Eagle and Integra sell gold at market-linked prices, making gold prices and mining costs common earnings drivers. Agnico traditionally sells its production at spot prices rather than forward-selling future output, so watch the gap between its gold selling prices and mining costs.
AngloGold Ashanti and Integra produce gold for bullion buyers while developing additional resources, so gold prices affect both sales and future project value. AngloGold refines its mined gold before selling directly to bullion banks; its U.S. exploration progress provides a development comparison alongside Integra’s western U.S. projects.
Integra’s Nevada North would pay Franco-Nevada a share of future metal-sale proceeds from Wildcat and gold-sale proceeds from Mountain View, so those royalty receipts depend on Integra bringing the properties into production. Watch Nevada North’s development progress, not just Franco-Nevada’s overall revenue, for news about this direct tie.
McEwen Inc. earningsMUX
McEwen’s Gold Bar and Integra’s Florida Canyon both mine open pits and recover gold by leaching stacked ore in Nevada, making McEwen’s report an operating check on regional conditions.
Compare Gold Bar’s gold production with its per-ounce mine costs. Steady output and contained costs suggest Nevada open-pit, heap-leach conditions are manageable, a useful reference for Florida Canyon. Falling output with rising costs could point to shared pressure from labor, energy or equipment, but the mines have different ore and operations, so McEwen’s results do not establish Integra’s performance.
Integra Resources Corp. earningsThis company
Florida Canyon supplies all of Integra Resources’ current production, and this report will show whether gold sales after mine costs are turning into operating cash.
Read ounces sold and the realized gold price alongside cash costs and mine-site all-in sustaining cost (AISC), the per-ounce cost of sustaining the mine. If sales hold and the gap between the realized price and costs widens, Florida Canyon is turning gold prices into more cash. If sales fall or costs approach the realized price, higher gold revenue may still leave Integra with less cash-generating power.
