DeLamar Project Feasibility Study: $774M NPV, 46% IRR
Integra Resources Corp.'s DeLamar Project in USA, Idaho, Owyhee County has a Feasibility Study outlining an after-tax NPV of $774M and an after-tax IRR of 46%.
Integra Resources Corp.'s DeLamar Project has reported Feasibility Study results for the gold project in USA, Idaho, Owyhee County. The study headlines an after-tax net present value of $774M at a 5% discount rate. It reflects Integra Resources Corp.'s (ITR.V) latest disclosed economics for the asset.
Economics. The after-tax NPV is $774M using a 5% discount rate. After-tax IRR is 46%. Economics are based on Gold $3,000/oz, Silver $35/oz.
Production and mine plan. The project envisions an open-pit operation.
These figures are extracted from Integra Resources Corp.'s technical disclosures and reflect the most recent Feasibility Study on file. Compare this project against other developers and producers in our project economics database, and always verify the numbers against the original technical report before making any investment decision.
Our Analysis
A 46% after-tax IRR places this project in the upper half of the 92 gold peers we track and well above the 15-20% threshold developers need to secure financing. The after-tax NPV of $774M is roughly 1.6x the company's market cap, which cuts two ways: it suggests the market has not yet priced in the project's full potential, but it also signals skepticism around execution risk, given the capital required relative to the company's size. The 5% discount rate used to calculate that NPV is at the low end of the reporting convention, which flatters the headline figure—a more conservative rate would shrink it materially.
The study's gold price assumption of $3,000/oz sits well below today's spot of $4,096.30/oz, implying meaningful upside to the stated returns if current prices hold. However, the single most important risk is funding: capital intensity relative to market cap creates dilution risk for a single-asset junior developer, and Idaho's mining-friendly jurisdiction does not eliminate permitting timelines or cost overruns. Watch for financing terms and any permitting delays.
Our take, benchmarked against the project economics in the Mining Stocks database. Figures are estimates drawn from company technical reports — not investment advice; always verify against the source filing.