Florida Canyon Mine Feasibility Study: $723M NPV Over a 8-Year Mine Life
Integra Resources Corp.'s Florida Canyon Mine in Nevada, USA has a Feasibility Study outlining an after-tax NPV of $723M. 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 Nevada, USA. The study headlines an after-tax net present value of $723M 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 $723M 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/oz), 2030 to 2035 ($3,600/oz); LOM weighted average $3,873/oz; spot $4,200/oz Au from mid-2026 to 2035.
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. Average head grade is 0.23 g/t Au. Metallurgical recovery averages 57.8%. The open-pit strip ratio is 0.81.
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 |
|---|---|---|---|
| P&P | 118,471 Kt | 0.31 g/t Au | 1,191 koz Au |
| Category | Tonnage | Grade | Contained |
|---|---|---|---|
| M&I | 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
- $723M
higher than 68% of 141 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/oz), 2030 to 2035 ($3,600/oz); LOM weighted average $3,873/oz; spot $4,200/oz Au from mid-2026 to 2035
- Spot gold today
- $4,455.30/oz
A US$723M after-tax NPV places this asset above 68% of the 141 gold projects we track, a solidly upper-middle ranking rather than a standout. For an investor, that rank means the project is credible enough to clear our typical hurdles, but it is not the kind of outlier that justifies paying up on its own. What makes it more interesting is that this sits in Nevada, a jurisdiction that historically supports smoother permitting and construction than most, which lends the feasibility-level numbers, a build-ready estimate with a typical plus or minus 15% band, more weight than they would carry elsewhere.
The constraint that matters most is funding. The NPV is roughly 1.3x the company's US$561M market cap, and this is one of three projects we track for this small-cap. A build of this size cannot be quietly absorbed into the balance sheet; it will require external financing, equity dilution, or a partner, and the market's read on that path is the difference between the NPV being realized or discounted. The two-sided view: the gap could mean the market has not priced the asset, or it could mean skepticism about how a company of this scale funds an 8-year mine life in a rising-cost environment.
The study's gold price assumption is the other lever. The LOM weighted average of $3,873/oz sits below today's spot of $4,455.30/oz, so the base case carries built-in upside if prices hold, but the early-year prices ($4,344/oz in 2026, $4,414/oz in 2027) are closer to spot, meaning the margin is front-loaded and fades as the mine matures. The single question that decides whether this works is whether the company can secure financing without diluting away the NPV's edge, because the asset's rank and jurisdiction are already proven; the capital structure is not.
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.