Integra Resources


Primary ticker: TSX:ITR, NYSE American:ITRG
Stage of development: Development
Primary minerals: Gold, Silver
Project to promote: DeLamar Gold-Silver Project
Project location: United States

Integra is a development-stage mining company focused on the exploration and de-risking of the past producing DeLamar gold-silver project in Idaho, USA. Integra is led by the management team from Integra Gold Corp. which successfully grew, developed and sold the Lamaque Project, in Quebec, for C$600m in 2017. Since acquiring the DeLamar Project in late 2017, the Company has demonstrated significant resource growth (~4.1 M oz AuEq in M&I and 663 K oz AuEq in Inferred) while providing robust economic studies in its maiden Preliminary Economic Assessment and now Pre-feasibility Study. The Company is advancing the Projects into permitting while continue to expand the resource through exploration drilling.

Cash: USD$21M
Debt: USD$10M

Major shareholders:
Beedie Capital – 8%
Franklin Advisers – 5%
Coeur Mining – 5%
Merk/ASA – 4%
Ruffer – 3%
Management Ownership – 5%

Management Profile

George Salamis – CEO and President

Mr. Salamis has over 30 years of experience in the mining and resource exploration industry. Mr. Salamis has been involved in over $2 billion of M&A transactions, either through assets sales or his involvement with junior mining companies. Mr. Salamis was most recently Executive Chairman of Integra Gold Corp. which was sold to Eldorado Gold Corporation for C$590 million. Mr. Salamis co-led the efforts behind the 2016 Integra Gold Rush Challenge and the 2017 #DisruptMining initiatives that encouraged innovation and technology disruption in the mining industry. Mr. Salamis is a sought after speaker on mining innovation. Mr. Salamis holds a Bachelor of Science Degree in Geology from University of Montreal — École Polytechnique and has had a successful career in mining and exploration. Mr. Salamis has discovered, financed, built, managed or sold more than 5 major minerals deposits around the World. He began his career working for two major mining companies (Placer Dome and Cameco Corp) over a 12-year period before transitioning into mineral exploration and junior mining in 2001.

What is your rationale for taking part in 121 Mining Investment?

Buyside investors. Market buying.

What recent news would you like to highlight to investors attending?

Integra Announces Drill Results from DeLamar Project: 108.8 M Grading 0.79 g/t Gold Equivalent at Florida Mountain and 48.8 M Grading 0.73 g/t Gold Equivalent at BlackSheep

What are your key goals in 3 months, 6 months, 12 months?

3 Months:
Drilling low-grade stockpiles left behind by previous operators

6 Months:
Updated Resource Estimate and on-going exploration

12 Months:
Filing of the Mine Plan of Operations, signifying first major permitting milestone

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Difficult Gold/Silver Market – Continue advancing and de-risking the project to take advantage of the market when it turns.
Permitting – Ensuring thorough baseline studies and fulfilling data requirements to file a robust Mining Plan of Operations

What do you think makes your company such a compelling investment?

DeLamar is the only Heap Leach Project in the Western US with an advanced economic study and a clear path to permitting.

What are the top 3 key investor takeaways?

Large Resource – 4.1 M oz AuEq (Ind) and 663 K oz AuEq (Inf)
Safe Jurisdiction – Idaho, USA
Simple Mining with Strong Economics – Heap Leach that produces ~1 M oz AuEq over Life of Mine.