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Integra Resources Corp.
8/12/2026
Good morning. My name is Rob, and I will be your conference operator today. At this time, I would like to welcome everyone to the Integra Resources second quarter 2026 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, again, press star one. Thank you. I would now like to turn the meeting over to Josh Serfass. Vice President, Investor Relations. Please go ahead, Josh.
Thank you, Rob. I would like to welcome everyone to Integra's 2026 Second Quarter Operating and Financial Results Conference Call. Before we begin, I would like to note that we will be making forward-looking statements during today's call. I'll direct you to the second slide of the earnings presentation, which contains important cautionary notes regarding these forward-looking statements. The cautionary notes can be found on Integra's corporate website. Please note, all dollar amounts discussed today will refer to U.S. dollars unless otherwise indicated. On the call today, I'm joined by Integra's President, CEO and Director, George Salamis, Chief Operating Officer, Cliff Lafleur, Chief Financial Officer, Andree St-Germain, Vice President Finance, Sean Deisner, Vice President Permitting, Dale Kerner, and General Manager of the Florida Canyon Mine, Greg Robinson. Today, we are pleased to provide an operating and financial update for the second quarter of 2026, followed by a live Q&A session. With that, I'd like to hand the call over to George to kick things off.
Thanks, Josh. Q2 was pivotal for the company. Florida Canyon remains the cash generator for Integra, and the updated technical report and Life of Mine released in June demonstrates a bright future for Florida Canyon. The updated Life of Mine plan highlighted a longer mine life, higher annual production, and strong free cash flow generation. Nearly two years of operating experience have enabled us to develop a more realistic, stable, and executable mine plan that reflects the operating realities of the mine. The updated plan increases average annual gold production by 17% while providing a more consistent production profile over an eight-year mine life. Finally, Strategic Investments in Fleet Modernization and Expanded Heap Leach Capacity position Florida Canyon for sustainable, long-term growth, lower operating costs, and continued value creation. Del Mar continues to advance through the federal permitting process under the National Environmental Policy Act, with the public scoping period now complete and the Bureau of Land Management currently reviewing comments received on the project. In parallel, The company continues to advance detailed engineering and planning at Delamar to prepare for future development. State of good repair initiatives are also underway on site, including test mining, crushing optimization, truck shop repairs, general site preparation, and other low risk activities that will, in fact, shorten the development timeline and reduce execution risk at Delamar in the future. With the improved exploration plan of operations received at Wellcat, exploration drilling is expected to start soon as we work on advanced economic studies. Now, turning to slide five, I'll walk through our second quarter financial highlights before handing the call off to Cliff to cover Florida Canyon's operating results. Q2 was highlighted by a strong financial position with $111.1 million in cash and working capital of $146.5 million. Operationally, the quarter was marked by record throughput of 87,867 total tons per day at Florida Canyon, resulting in a 30% increase in gold production quarter over quarter. Florida Canyon produced 16,379 ounces of gold in the quarter, generated revenue of $70.8 million and operating cash flow of $22.8 million. The 45% increase in ore placed on the heat bleach pads in Q2 has created a large inventory of recoverable gold ounces that supports increased production over the balance of the year. This has led the company to maintain its annual gold production guidance of 70,000 to 75,000 ounces of gold this year. With that, I will hand the call over to our COO, Cliff, to discuss the second quarter operating results for Florida Canyon.
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