Florida Canyon Production Update: $601M NPV Over a 8-Year Mine Life
Integra Resources Corp.'s Florida Canyon in USA, Nevada has a production guidance outlining an after-tax NPV of $601M. The mine plan runs 8 years at about 82 koz Au per year.
Integra Resources Corp.'s Florida Canyon has reported production guidance results for the gold project in USA, Nevada. The study headlines an after-tax net present value of $601M 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 $601M using a 5% discount rate. All-in sustaining costs are pegged at 2331 USD/oz. Economics are based on Base case gold: 2026 $4,344/oz, 2027 $4,414/oz, 2028 $4,169/oz, 2029 $3,824/oz, 2030-2035 $3,600/oz.
Production and mine plan. The project envisions an open-pit heap leach operation. Life of mine is 8 years. Average annual production is approximately 82 koz Au.
These figures are extracted from Integra Resources Corp.'s technical disclosures and reflect the most recent Production Update 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.
Reserves & Resources
| Category | Tonnage | Grade | Contained |
|---|---|---|---|
| Proven & Probable | 118,471 kt | 0.31 g/t Au | 1,191 koz Au |
| Category | Tonnage | Grade | Contained |
|---|---|---|---|
| Measured & Indicated | 171,842 kt | 0.33 g/t Au | 1,706 koz Au |
| Inferred | 165,879 kt | 0.65 g/t Au | 3,446 koz Au |
Our Analysis
- NPV after-tax
- $601M
higher than 48% of 197 projects we track
- Mine life
- 8yrs
- Study price assumption
- Base case gold: 2026 $4,344/oz, 2027 $4,414/oz, 2028 $4,169/oz, 2029 $3,824/oz, 2030-2035 $3,600/oz
- Spot gold today
- $4,136.00/oz
Nevada gold in production sits almost exactly mid-table: an after-tax NPV of $601M ranks higher than 48% of the 197 gold projects we track. For an investor that means the asset is neither a standout nor a laggard. It is a core, average-quality operation in one of the most established mining jurisdictions, so the numbers deserve more trust than the same figures from a frontier country. Permitting and fiscal terms are well understood, and these are operating-mine figures rather than a forward study, which removes the construction and ramp-up uncertainty that normally widens the error bars on a PEA or feasibility case.
The valuation relationship is more interesting. The NPV is about 1.3x the company's US$447M market cap (a rough, currency-adjusted comparison). Read optimistically, the market is paying less than the value of a single producing asset, in a company that holds 5 projects we track. Read skeptically, a mid-ranked asset with an 8-year mine life gives the market little reason to pay a premium: the NPV is a finite stream that depletes, and the company must replace reserves or find new value to sustain the equity. A small-cap multiple may also reflect doubts about whether the whole NPV accrues to shareholders after sustaining capital, debt and corporate costs.
The deciding variable is price. The study's base case starts at $4,344/oz in 2026 and $4,414/oz in 2027, above the live spot of $4,136.00/oz, then steps down through 2028 and 2029 to $3,600/oz for 2030-2035. The near-term years that carry the most value are therefore assumed above today's market, while the long tail is set well below it. If spot holds near current levels, the early cash flows could fall short of plan, but the conservative tail leaves the later years with room. For a producer with an 8-year life, the front-loaded cash flow matters most, because it funds the reserve replacement the equity needs. The question that decides whether this works is whether the company can convert mid-table cash generation into either mine-life extension or distributions before the depleting NPV is reflected in the share price.
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.
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