Integra Resources Corp V.ITR

News out this evening-PFS

[loonietunes]

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2170-tsx-venture/itr/115600-integra-comple

[deepthinker63]

This project doesn't work below $1800.

[martin111]

Maybe you should actually read it properly or maybe your possibly illiterate. 

[deepthinker63]

I'm assuming CapEx will be higher $282 million because, you know, inflation!  I think you've got to peg it at $350 million by the time anyone builds.  That said, the PFS doesn't include recent hits and, presumably, more to come.  These cost increases are impacting every company.  Gold is going to have ti stay above $1800 or more, or most of these projects will

[metalhead666]

I've never ever seen a mining project come in on budget.  All the ESG stuff and ongoing inflation will drive the cost of even phase 1 considerably higher than this PFS states.  There will be significant share dilution going forward if they intend to maintain drilling alongside permitting a full feasibility study etc.  While you can make a case that this is a decent project it

[deepthinker63]

I'm putting CapEx at a more conservative $350 million, which means this project is totally dependent on the price of gold above $1800, or more likely higher.  That said, this is not a unique situation in terms of skyrocketing costs.  Compare the PFS to the 2019 PEA.  The economics deteriorated $500 an ounce in 3 years.  Brutal.

[mmoital]

They have included a 20% contigency. That's almost 60m in contingency. I don't recall such a high percentage. And there are projects that come on budget (e.g. Silvercrest)

[metalhead666]

It's rare. They almost all run into issues of one sort or another. Mining is the worst of all possible businessess.  Now Integra is in the "orphan period"....no catalysts, no drivers, long way until a construction decision. So according to the Lasonde Curve it should be dead money for some time.  If gold takes off and the drill up some more high grade it could recover but I