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Integra Resources Corp.
3/27/2025
Good morning, my name is Julianne and I will be your conference operator today. At this time, I would like to welcome everyone to the Integra Resource fourth quarter and full year 2024 results conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, please press star one again. Thank you. I would like to turn the meeting over to Jason Banducci, Vice President, Corporate Development and Investor Relations. Please go ahead, Mr. Banducci.
Thank you, operator. I'd like to welcome everyone today to Integra's fourth quarter and full year 2024 results conference call. Before we begin, I would like to note that we will be making forward-looking statements during today's call, and I would direct you to the second slide of our presentation. also accessible on Integra's website, which contains important cautionary notes regarding these forward-looking statements. All dollar amounts discussed today will refer to U.S. dollars unless otherwise indicated. I would also like to highlight that all financial results included in the presentation today are reflective of Integra's ownership period during the fourth quarter for Florida Canyon, which was November 8th to December 31st, 2024. Please note that we have also included full-year operating metrics for Florida Canyon for strictly informational purposes. On the call today, I'm joined by INTEGRA's President, CEO, and Director, George Salamis, Chief Financial Officer, Andre St. Germain, and General Manager of the Florida Canyon Mine, Greg Robinson. Today, we are pleased to provide an operating and financial update on what was a transformational year in 2024 for Integra. With that, I would like to hand the call over to our president and CEO, George.
All right. Thanks, Jason. So 2024 marked a transformational year for the company. Integra evolved from a development stage company in the U.S. through the acquisition of the Florida Canyon Mine. We believe that the company is better positioned now more than ever, with Florida Canyon producing and selling gold at record prices. Better positioned to advance our two heap leach projects, Delamar and Nevada North. Our strategy is simple. Operate efficiently, develop responsibly, allocate capital wisely, and grow through tactical M&A. We are building a modern growth focused gold company in the heart of the Great Basin. Moving to slide five, we have highlighted some metrics that underscore our success in 2024. In Q4, we closed the acquisition of Florida Canyon, catapulting the company from developer to producer status. Florida Canyon demonstrated an excellent performance in 2024 with total production of just over 72,000 ounces of gold, marking the highest production output in 21 years. During Integra's ownership period from November 8th to December 31st, Florida Canyon produced approximately 11,000 ounces of gold at all in sustaining costs of $2,103 per ounce. Average realized gold price during that period was $2,643 per ounce. At Delamar, we have had a very productive year, making significant advancements from an engineering and permitting perspective, ones that will set the stage for a pivotal year in 2025 with an upcoming feasibility study and significant permitting advancements. At our Nevada North project, we successfully executed a drill program at the Wildcat deposit that confirmed continuity of mineralization and gathered important technical data. From a financial perspective, we ended the year in 2024 in the strongest position ever for this company, with a cash balance of $52 million, well positioning us to execute on all of our major objectives in 2025 without having to return to the market for financing. I will now hand the call over to Greg Robinson, our mine general manager at Florida Canyon, to provide an operational review from 2024. Over to you, Greg.
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