Q2 2026 Integra Resources Corp Earnings Call Transcript
Key Points
- Record throughput of 87,867 total tons per day at Florida Canyon, leading to a 30% increase in gold production quarter over quarter.
- Updated life-of-mine plan at Florida Canyon shows an 8-year mine life, 17% higher average annual gold production, and $770 million in after-tax free cash flow.
- Strong financial position with $111.1 million in cash and working capital of $146.5 million, and the company is debt-free except for mobile equipment financing.
- Proven and probable reserves at Florida Canyon increased by 74% to nearly 1.2 million ounces of gold, with a 128% increase in oxide M&I resources.
- DeLamar project advanced through federal permitting with NEPA scoping complete, and Nevada North's Wildcat exploration plan approved, enabling drilling to start in August 2026.
- Mine-site AISC for Q2 2026 was high at $3,371 per ounce, at the lower end of revised guidance, reflecting cost pressures from royalties, excise taxes, diesel, and explosives.
- Revised 2026 guidance increased total cash costs to $2,300-$2,500 per ounce and mine-site AISC to $3,300-$3,500 per ounce, due to higher tonnage and lower gold ounces sold in H1.
- Non-sustaining capital guidance was increased by $9 million to $16.5-$18.5 million, driven by advancing heap leach pad construction into 2026.
- Gold production in the first half of the year was lower than expected, with only 16,379 ounces produced in Q2, though full-year guidance was maintained.
- A reportable spill occurred at Florida Canyon, though it was a minor pipeline leak that was quickly repaired, with no enforcement action expected.
Thank you. 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. (Operator Instructions) 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 US dollars unless otherwise indicated.
On the call today, I'm joined by Integra's
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