Casey Research Take Away on Integra from - Sprott Conference Casey Research Take Away on Integra from The Sprott Conference
Integra. I just want to stress the comment made in our analysis of Integra’s latest press release. They are headed underground to better explore their main, Triangle zone, and the tunnel is production sized. That means that if the results are positive—and I think they will be—it will be a very short transition from there to production. This company keeps drilling off more gold and has new targets to explore, but it’s closer to production than many may realize. One of those targets, by the way, is the top priority target on the Lamaque Deep zone, which could open up a large new area for expanding the company’s already substantial gold resources.
Comments on July 29th regarding the Exploration Ramp:
This is largely an FYI—planned progress--but noteworthy at that. This work will facilitate Integra's underground exploration campaign at its Triangle Deposit, but the tunnel being built is big enough to handle full-scale production. In other words, the up-close exploration this will enable will help confirm the resources in the ground, and it will leave the company very close to being able to go into production, if the feasibility studies come out as positive as we expect. Best of all, Integra has all the cash it needs to achieve its exploration goals at Triangle, update its resource estimate, and put out new preliminary economic numbers. Why preliminary? We still have no idea who big this could get. Meanwhile, we understand that the company plans to test its new Lamaque Deep targets this season as well. That’s a real spec, but one with potentially huge upside, if it works out.
We like this story a lot, but the shares are hitting all-time highs, so buy only on the strong dips.