Florida Canyon Mine Feasibility Study: $601M NPV Over a 8-Year Mine Life
Integra Resources Corp.'s Florida Canyon Mine in USA, Pershing County, Nevada has a Feasibility Study 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 Mine has reported Feasibility Study results for the gold project in USA, Pershing County, 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 prices: 2026 ($4,344/oz), 2027 ($4,414/oz), 2028 ($4,169/oz), 2029 ($3,824), 2030 to 2035 ($3,600/oz).
Production and mine plan. The project envisions an open-pit 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 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.
Reserves & Resources
| Category | Tonnage | Grade | Contained |
|---|---|---|---|
| Proven & Probable | 118,471 Kt | 0.31 g/t Au | 1,191 koz |
| Category | Tonnage | Grade | Contained |
|---|---|---|---|
| Measured & Indicated | 171,842 Kt | 0.33 g/t Au | 1,706 koz |
| Inferred | 165,879 Kt | 0.65 g/t Au | 3,446 koz |
Our Analysis
- NPV after-tax
- $601M
higher than 56% of 144 projects we track
- Mine life
- 8yrs
- Study price assumption
- Base case gold prices: 2026 ($4,344/oz), 2027 ($4,414/oz), 2028 ($4,169/oz), 2029 ($3,824), 2030 to 2035 ($3,600/oz)
- Spot gold today
- $4,371.20/oz
The $601M after-tax NPV places this asset above 56% of the 144 gold projects we track, which is a solidly mid-tier result rather than a standout. For an investor, that rank signals a project that should work on its own economics but will not carry a portfolio by itself. The more telling number is the NPV at roughly 1.1x the company's US$545M market cap: this is a build that meaningfully exceeds the equity base of a small-cap developer, so financing and dilution risk are the real story, not the grade or the mine plan.
That funding question is sharpened by the jurisdiction. Nevada, Pershing County, is about as mining-friendly as it gets in the US, which lowers the permitting and operational risk premium an investor would otherwise attach to the returns. The feasibility study stage also matters here: at a plus or minus 15% band, these are build-ready numbers, not scoping-level aspirations. The 8-year mine life is short, which compresses the payback window but also limits the downside if the gold price softens in the later years.
The study's base case assumes gold prices that decline from $4,344/oz in 2026 to $3,600/oz by 2030, while the current spot sits at $4,371.20/oz. That means the NPV is not built on a frothy price deck; if anything, the early years are priced near today's market and the back half assumes a meaningful pullback. The two-sided read on the valuation gap is straightforward: either the market is skeptical that a small-cap can fund a build worth more than its entire equity value, or it is waiting for a clearer financing path. The deciding question is whether the company can secure funding without diluting away the NPV's value, because at 1.1x market cap, the equity raise itself could consume a large share of the project's worth.
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.
Get the next one first
Be the first to know about new mining results, and how they compare to other projects.