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Integra Gold Corp.


Integra Gold Corp. is a Canadian company focused on the exploration and development of its high-grade Lamaque gold project in one of Canada's premier gold-producing districts, Val-d'Or, Québec, the "Valley of Gold." Complete mining and milling infrastructure, human resources and mining expertise are centered in the city of Val-d'Or, located within 1km of the Lamaque project. The Lamaque project is directly adjacent to over 9 Moz of historic gold production from the Lamaque and Sigma mines, historically operated by Teck Inc. and Placer Dome Inc., respectively. Integra is well financed and advancing steadily toward a production decision with more than 65,000m of drilling completed in the past two years. The company is also progressing on numerous engineering, environmental and economic studies.

The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Comments:

Jay Taylor, Gold, Energy & Tech Stocks (12/5/14) "Integra Gold Corp. looks to me like a company that should be poised to do exceptionally well once this gold market improves, especially given its recent acquisition through bankruptcy of the 2,200 tpd Sigma Mill and various related infrastructure including the mine. . .having its own mill and all the basic needs to get into production and being located in one of the best possible locations in the world to mine for gold, in addition to major upside exploration potential, Integra Gold looks to me as one of the better junior gold share opportunities available at this time."

Thibaut Lepouttre, Caesars Report (12/4/14) "Integra Gold Corp. has announced it has discovered several new mineralized zones approximately 200m west of the Triangle deposit. The discovery was made when the company was doing some drilling at the spot where it was planning to develop its ramp to reach the Triangle zone ore and this was one of the few times a company was expecting to find nothing at all. . .the scope of the 2015 drill program still needs to be defined, but it looks like the Lamaque property might have some hidden treasures."

Kevin MacKenzie, Salman Partners (12/2/14) "Integra Gold Corp. announced the results for its recent condemnation and geophysical targeted drill campaign at its 100%-owned Lamaque South project. The highlight of the release was the high-grade intercepts of two condemnation holes targeting the proposed Triangle zone ramp: 1)TMC-14-01: 4.1 g/t Au over 4.4m and 2) TMC-14-10: 101.85g/t Au over 1.6m."

Derek Macpherson, M Partners (12/2/14) "Integra Gold Corp. released results from its summer/fall 2014 condemnation drill program which intended to identify a location for a proposed exploration ramp to the west of the Triangle zone that would not impact future production. . .the drill results were highlighted by 101.9 g/t over 1.6m and 3 g/t over 9m. In our view, these results and the extension of the Triangle zone highlight the high-grade nature of the deposit and the significant exploration potential that exists within the Lamaque South project."

Derek Macpherson, M Partners (11/14/14) "Integra Gold Corp. received confirmation from the Canadian Environmental Assessment Agency that it is not required to complete an environmental assessment for the Parallel zone at the Lamaque South project as a result of the recently acquired Sigma-Lamaque mine and mill complex. . .the reduced permitting requirements could accelerate the development timeline for the Parallel zone."

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Thibaut Lepouttre, Caesars Report (11/13/14) "Integra Gold Corp. has now abandoned the plan to reach the ore body at the Parallel zone from surface but will instead mine it through further underground development work starting at one of the extensions of the Sigma-Lamaque underground mine. This should shave off quite a few millions from the initial capital expenditures and could be a huge boost to the company's NPV."

Jeb Handwerger, Gold Stock Trades (11/13/14) "One of my favorite takeout targets in the gold space is Integra Gold Corp., which owns the Lamaque South gold project and the Sigma Lamaque milling complex. The Abitibi Greenstone Belt is one of the areas where the majors are looking to expand. . .Integra has hit some really high grade in its Parallel and Triangle zones. It recently acquired the Sigma mill, which is only 500m from the Parallel zone. Its a fully permitted, 2,200 tpd mill and investors should realize that this acquisition moves Integra closer to production and cash flow."

The Gold Report Interview with Thomas Schuster (11/12/14) "I follow Integra Gold Corp. Integra is in the Val-d'Or region in Quebec, right in the heart of the city next to a couple of past-producing mines. It has the ground just to the south of the Sigma and Lamaque mines. These kilometers-deep mines produced over 9 Moz of high-grade gold for 30 years. Those mines are out of production now, but Integra has found a number of similar-looking mineralized deposits on the nearby ground. It has only drilled down a few hundred meters, but the deposits have a similar structure and grade to Sigma and Lamaque. The Val-d'Or property is Integra's main focus. The firm will release an updated PEA in November. It is looking to decrease its operating costs by $15–20/tonne. It just acquired a mill in the area. That will definitely cut costs. Expect to see an updated resource in the new year as well. Overall, the project looks very promising.

Integra is bulking up the management team. It just put in a new COO—Langis St-Pierre. He is a mining engineer from Laval University. He spent 27 years at Cambior and some years at IAMGOLD. He has been involved with a number of mines, including the Langlois and Doyon mines. Hervé Thiboutot is leading Integra's exploration pursuits. He came from Alamos Gold and he knows how to find and add ounces in the ground. Hervé is a highly sought after person who could have gone anywhere; he decided to go to Val-d'Or and work on this project. That speaks volumes." More >

Thibaut Lepouttre, Caesars Report (10/28/14) "Integra Gold Corp. has really transformed itself from a potential developer into a company with a turn-key ready mill primed for restarting operations. Indeed, the company will no longer have to use other mills to treat its ore, but has acquired the Sigma Lamaque mill out of a bankruptcy procedure, which has a nameplate capacity of 2,200 tpd. . .Integra's operating costs will tumble as an owner-operated milling procedure is much cheaper than toll milling the ore."

Francois Riverin, La Presse (10/20/14) "Since 2009, Integra Gold Corp. has invested $15M in exploration on the Lamaque property. Drilling has delineated a resource of nearly 800 Koz gold contained in mineralization of more than 9 g/t gold, a level considered higher than average. . .the company's PEA suggests the feasibility of exploiting 112,400 oz/year gold."

Killian Charles, Industrial Alliance Securities (10/10/14) "Integra Gold Corp. closed the acquisition of the Sigma-Lamaque milling facility announced in September. . .the real value of the acquisition lies in the permits. . .the mill also provides the company with opportunities to decrease mine capex and opex from its March 2014 PEA."

Thibaut Lepouttre, Caesars Report (10/10/14) "Integra Gold Corp. has announced it has closed the acquisition of the 2,200 tpd Sigma-Lamaque mill right across the street from its Lamaque project. . .Integra is acquiring these assets on the cheap by paying just CA$1.8M in cash and issuing 25M shares for a total acquisition cost of just CA$8M versus a replacement value of CA$100M. . .by already hiring a COO, Integra once again shows it's extremely committed to fast-tracking the Lamaque project towards producing."

Itinerant, Seeking Alpha (10/8/14) "A transformational acquisition turned Integra Gold Corp. from an exploration play into a near-term producer. Ingenious thinking has enabled the company to pay pennies on the dollar for the new assets. We see substantial upside, even in a continued dire gold price environment, and strictly limited downside due to the value of the new assets."

The Mining Report Interview with Derek Macpherson (10/7/14) "Integra Gold Corp. is one of our favorite development stories right now. The company purchased a neighboring mill on very good terms. Management did an exceptional job adding value to the company that has yet to be reflected in the share price. Its updated PEA should be a catalyst because it should provide investors a better understanding of the impact of not having to toll mill the ore, as was envisioned in the first PEA." More >

The Gold Report Gold Conference Roundup with Jeb Handwerger (10/1/14) "Integra Gold Corp.'s Sigma-Lamaque mill acquisition puts the company in a position to go into production sooner rather than later." More >

Jeb Handwerger, Gold Stock Trades (9/23/14) "Integra Gold Corp. recently announced the acquisition of a 2,200 tpd mill. . .the recent mill acquisition should improve project economics as the company's costlier plan to toll mill the ore is no longer necessary. With this mill, Integra becomes one of the only junior gold mining companies developing a new high-grade gold operation with a permitted mill in one of the richest, stablest and lowest-cost mining jurisdictions in the world."

The Gold Report Interview with Christos Doulis (9/22/14) "A company that I don't cover is Integra Gold Corp., near Val-d'Or, Quebec. It has a high-grade deposit and the company just signed a deal to acquire the old Century Mining mill out of receivership. Basically, Integra is putting all the pieces together to build a mine. It has a high-grade resource. It will soon have a mill. It has a mining permit in a mining-friendly camp with a long history. I see it as a potential takeout candidate." More >

Killian Charles, Industrial Alliance Securities (9/11/14) "Integra Gold Corp. announced the last round of drill holes from the Triangle zone at the South Lamaque project. . .delivering more high-grade intercepts. . .these results maintained similar widths (1–5m) and grades (10 g/t to bonanza grades). . .we expect a high conversion ratio of the current Inferred material into the Measured and Inferred category. This will remove a large portion of uncertainty from the Preliminary Economic Assessment. Drilling continues to intersect important high-grade intervals substantially below the current resource model. . .we view these as encouraging signs that Integra can both maintain and expand the resource."

Derek Macpherson, M Partners (9/10/14) "Integra Gold Corp. released results from the final 14 holes of its 65 drill hole 2014 Triangle zone drill campaign. . .highlighted by 20.3 g/t gold over 1m, 22.0 g/t gold over 2m and 20.1 g/t over 3m. . .and yielding a weighted average grade of 15.5 g/t over an average width of 2.3m, which compares favorably to the current resource grade of the Triangle zone of 11 g/t, and the overall resource grade of 7.8 g/t. . . supporting our view that the resource is likely to grow."

Maria Kalbarczyk, Secutor Capital Management Corporation (9/8/14) "Integra Gold Corp. entered into a purchase agreement to acquire the historical Sigma and Lamaque milling facility and mines. . .for $7.55M ($1.8M cash and 25M common shares of Integra). . .concurrently, the company entered into an agreement with. . .the Waste Rock Company, which will acquire the waste rock piles and certain mining concessions for $1.025M as well as assumption of some of the environmental reclamation obligations. . .this transaction is highly accretive to Integra on several counts, improving the economics of the Lamaque South project through a reduction in capital and operating costs. . .and potentially speeding up the development timeline of Lamaque South."

Hard Asset Investments, Seeking Alpha (9/6/14) "Integra Gold Corp. has an exciting high-grade gold deposit located in one of the most prolific mining jurisdictions in the entire world. Because of its location to existing infrastructure and abundance of skilled labor, the deposit has great potential to become a 100+ Koz gold producer at industry leading all-in sustaining costs."

Killian Charles, Industrial Alliance Securities (9/5/14) "Integra Gold Corp. has announced that it intends to acquire the fully permitted Sigma-Lamaque milling facility and mine for $7.55M. . .we believe the real value of the acquisition lies in the permits. The company significantly derisked the overall project through the acquisition."

Andrew Mikitchook, Edgecrest Capital (9/5/14) "Integra Gold Corp. has purchased the Sigma-Lamaque property for $7.55M in cash and shares. The transaction gives the company ownership of a mill, surface infrastructure and underground infrastructure in close proximity to its resources on the Lamaque South property. . .we are raising our target on the stock from CA$0.35 to CA$0.45 and maintaining our Buy rating."

Lauren McConnell, Paradigm Capital (9/5/14) "Integra Gold Corp. announced a creative agreement to acquire the Sigma‐Lamaque milling facilities and property located adjacent to its Lamaque project. . .we view this transaction as a transformational, creative and derisking event. It provides the company with increased flexibility in terms of its future development and production plan. . .the purchase price of $7.55M is extremely attractive."

Thibaut Lepouttre, Caesars Report (9/4/14) "Integra Gold Corp. has announced yesterday after hours it is acquiring the Sigma-Lamaque mine and mill from the receivers appointed by the court to monetize the assets of Century Mining Corp., which went bankrupt a few years ago. . .this is a very logical step by the company, as the Sigma-Lamaque mill is located not just down the road but literally across the road from Integra's property. . .the acquisition of the Sigma-Lamaque mine and processing facility will cost just CA$7.55M."

Teresa Matich, Gold Investing News (9/4/14) "Integra Gold Corp. announced on Wednesday that it has entered into an agreement to purchase the Sigma-Lamaque milling facility and mines and that it stands to reap a multitude of benefits from the transaction. . .including the 2,200 tpd milling complex and tailings facility, which is located less than 500m from Integra's flagship Lamaque South project in Val-d'Or, Québec—in addition to permitted underground infrastructure, a mechanical shop, office, equipment. . .and all mineral claims and mining concessions on the property. . .for just $7.55M, made up of $1.8M cash and 25M common shares valued at $5.75M."

Peter Campbell, Jennings Capital (9/4/14) "Integra Gold Corp. has entered into an asset purchase agreement to acquire the historic Sigma-Lamaque mines and milling facility, located adjacent to the company's Lamaque project. . .the aggregate purchase price is $7.55M. . .the purchase is expected to close in October 2014."

Derek Macpherson, M Partners (9/4/14) "Integra Gold Corp. announced it has entered into an agreement to purchase the Sigma mine and mill for $7.55M, consisting of $1.8M in cash and 25M shares. . .the Sigma mill and associated mining leases are adjoining Integra's Lamaque project. . . As a result of the acquisition we expect costs to materially decline for Integra as we model milling costs to be $20/tonne (was $50/tonne) once operations are ramped up to 1,200 tpd. . .we believe that the mill acquisition is likely to raise Integra's profile with investors, as it has transformed into a late-stage development project."

Jay Taylor, Gold, Energy & Tech Stocks (8/13/14) "Given the juicy grades pulled thus far and built into Integra Gold Corp.'s growing resource, in my view the prospects for building a gold mining operation of considerable size appear very good. . .the company looks like it could become a significant gold producer within a couple of years."

The Gold Report Interview with Jeb Handwerger (8/11/14) "One of our favorite companies, Integra Gold Corp., recently closed a private placement that was oversubscribed due to major demand from investors. There's so much interest in Lamaque because it is one of the highest-grade undeveloped gold projects in Québec with over 3.3 Mt at over 7 g/t gold. An updated resource incorporating the latest drill results should be out soon. [Integra's PEA showed an internal rate of return of 38% with a payback period of 1.8 years.] The market wants to see all the pending assays from the 57,000m of drilling that has yet to be added to the previous resource. An updated resource with all this exciting drilling data will make the majors take notice. . .Integra could be a classic takeover target. Osisko Mining Corp., which had the nearby 10 Moz Malartic gold project, was bought by Yamana Gold Inc. and Agnico-Eagle Mines Ltd. Integra's Lamaque project sits right next to Agnico-Eagle's 1.6 Moz Goldex mine in an area with great infrastructure and skilled labor." More >

Jeb Handwerger, Gold Stock Trades (8/6/14) "Integra Gold Corp. is one of the rare juniors that has a high-grade asset and low capex, in the safe jurisdiction of Quebec and that is actively drilling and advancing an exciting asset[Lamaque]. . .Integra announced a preliminary economic assessment back in March that showed that it could be low capex with a quick payback. All-in costs showed that the project could be profitable at today's prices."

Peter Campbell, Jennings Capital (7/29/14) "Integra Gold Corp. has recently completed a preliminary economic assessment (PEA) and currently is working on a prefeasibility study. The PEA envisions a toll milling scenario to keep initial capex low. . .we are initiating coverage on the company with a Speculative Buy recommendation."

Kevin MacKenzie, Salman Partners (7/24/14) "Integra Gold Corp. recently released a preliminary economic assessment for its Lamaque project. The base case, assuming $1,275/oz Au, yielded an after-tax net present value (5%) of CA$88.5M, an internal rate of return of 38% and a payback period of 1.8 years. . .as the company moves the Lamaque project towards prefeasibility, the short-term focus will be on increasing the Indicated resource category through additional delineation drilling of the Parallel, Triangle and Fortune zones, while testing the lateral and vertical extents of these plugs for additional mineralization."

Derek Macpherson, M Partners (7/16/14) "Integra Gold Corp.'s drill results released yesterday from the Triangle zone yielded a weighted average grade of 23 g/t over an average width of 1.8m. . .we believe these results support our belief that the resource is likely to grow."

Derek Macpherson, M Partners (7/15/14) "Following the closing of the $10M financing, Integra Gold Corp. now has the balance sheet strength to continue exploring the company's prospective land package aggressively. . .we now model 50% (was 20%) resource upside from the current resource. . .we believe that the high-grade, low operating cost and lower capital intensity of Integra's Lamaque project should warrant a premium valuation relative to peers. We believe that as the company expands its current resource base and progresses towards production, its share price should benefit."

Thibaut Lepouttre, Caesars Report (7/14/14) "Integra Gold Corp. is back in the field for another drill program which will consist of approximately 20,000m. . .the company has just raised CA$10M and is fully funded for this drill campaign, which will use three rigs. . .Integra should now be in a position to continue to fast track the Lamaque project toward a production decision, which we expect sometime next year. A first PEA was already very promising."

The Gold Report Interview with Thomas Schuster (7/14/14) "Integra Gold Corp. has the high-grade Lamaque project in Val-d'Or in Quebec, right next to numerous past and currently producing mines. The company is fast-tracking this project, looking at production in three or four years. Integra published a favorable preliminary economic assessment in April: a pretax NPV of 137M at a 5% discount rate with a 51% internal rate of return. . .preproduction capital expenses are estimated to be about $65M. The capex is so low because of the four to six mills in the vicinity available to process the ore. Integra's management has been smart and assembled a top tier technical team. The senior VP is Hervé Thiboutot, who worked on Alamos Gold's Mulatos project and Goldcorp 's Éléanore project. He has extensive experience bringing mines into production and he has now focused his attention on the Lamaque project. . .[Integra's $10M private placement] is a vote of confidence. This money should take Integra to the point where it can make a decision on where to start developing an underground ramp for a more detailed exploration phase prior to production. The money will also go toward testing a few new exciting geophysical targets on the property. . the PEA estimates mine production of 505,600 oz gold at 8.19 g/t at an all-in cost of $756/oz. The key to keeping cash costs low is getting a high production rate from a number of mining faces and keeping dilution down. . .the company will need to go underground and start test mining in order to develop a couple of years of reserves and demonstrate that the ore structures continue to depth. That's the smart way to mine this type of deposit." More >

Thibaut Lepouttre, Caesars Report (7/8/14) "Integra Gold Corp. has closed a private placement raising CA$10.05M by issuing approximately 45.5M new shares. . .the funds will be used to continue to work on the company's Lamaque property in Québec, Canada, which is advancing quite well. . .Integra Gold is also doing a share swap with Pinetree Capital. . .Pinetree will issue 2.222M new shares to Integra in return for 5M Integra units for a total deal value of CA$1M. . .we think the company will monetize the Pinetree shares before the end of this year."

Haywood Securities (6/25/14) "Integra Goild Corp.'s Lamaque gold project has excellent infrastructure and high grades, with the Indicated resource averaging 9.8 g/t gold. . .the project is located within a kilometer of the town of Val d’Or and within 45 km of six fully functional and/or underutilized mills."

Thibaut Lepouttre, Caesars Report (6/24/14) "Integra Gold Corp. announced it is raising CA$10M by issuing new units at CA$0.20 for the hard dollar financing and CA$0.26 for a flow-through financing. . .the proceeds of this financing will be used for further exploration activities whereby new exploration targets will be drill tested. Additionally, the company is planning an updated resource estimate and an updated PEA focusing on decreasing the initial capital expenditures at the Lamaque project."

Derek Macpherson, M Partners (5/22/14) "Integra Gold Corp.'s drill results further highlight the high-grade nature of the Lamaque project. The company released results from 10 holes representing 4,725m of the 2014 drill campaign. . .some intercepts represent the widest and highest grade reported for the Triangle zone."

Thibaut Lepouttre, Caesars Report (5/21/14) "Integra Gold Corp. has released new drill results on its 100%-owned Lamaque gold project near Val d'Or, Quebec, and the company seems to be doing a great job there as it has pulled its best intercepts ever with 11m at almost 0.5 oz/t gold and 13m of in excess of 10 g/t gold at a depth of respectively 604m and 583m. These intercepts indicate there's indeed a lot of additional potential at depth."

The Gold Report Interview with Michael Curran (5/14/14) "We follow Integra Gold Corp. The company owns the Lamaque South gold project in Quebec's Val-d'Or camp in northwestern Québec. It has high grade in the heart of mining country so it has great infrastructure. People may think it's the old Lamaque property, but this is actually south of the old Lamaque mine. I visited Lamaque South in the spring. It's as if Integra found the initial discovery at Lamaque, which was an underground mine. Integra has outlined a couple of mineralized zones and the resource is up to 800 Koz. The Lamaque mine produced 4.5 Moz gold before various companies tried to make it a big low-grade open pit. A PEA on that initial resource said Integra could put a mine into production for $70M in a toll-milling scenario but there are actually bankrupt mills sitting idle in the area." More >

Jay Taylor, Gold, Energy & Tech Stocks (5/9/14) "Integra Gold Corp. is focused like a laser on moving its Lamaque gold project into production, using available custom milling opportunities on this underground mine. . .not only does the company enjoy a 32% exploration tax rebate from the Quebec government, but low-cost power and all necessary infrastructure are in place, not to mention the availability of skilled underground miners, who provide an advantage that many, if not most, other mining projects do not enjoy. . .the most important point to note is that advanced planning to establishing this mine is already taking place, and by the end of this year, we should see significantly higher resource numbers, which should add value to Integra’s shares."

The Gold Report Interview with Thibaut Lepouttre (4/28/14) "Integra Gold Corp. made tremendous progress in Q1/14, as it released another resource estimate and a PEA. The new resource estimate contains more than 800 Koz gold at an average grade of more than 10 g/t. The PEA was quite excellent. Using a gold price of $1,275/oz, the internal rate of return was a little more than 50%. It was mainly the result of low initial capital expenditures, which were $50–65M. On top of that, the all-in sustaining cash cost was about $750/oz. It's a highly profitable and high-margin project. Furthermore, the PEA just took a part of the new resource estimate into consideration. It's likely that further exploration will result in a longer mine life and a higher net-present value. . .CEO Steve de Jong has assembled a good team on the ground. Vice President of Exploration Hervé Thiboutot has several decades of experience under his belt, including time at Alamos Gold Inc." More >

Mick Carew, Haywood Securities (4/23/14) "Yesterday, Integra Gold Corp. released results from 10 holes (~3,900m) focused on the Triangle zone at the wholly owned Lamaque gold project. . .overall, results from recent drilling continue to demonstrate continuity of the Triangle zone at depth (down to ~600m) and support the potential for resource conversion (upgrading of Inferred resources)."

Thibaut Lepouttre, Caesars Report (4/22/14) "Integra Gold Corp. released a fresh batch of drill results from its winter drill program at the Lamaque Au project in Val d'Or, Québec. . .the company pulled some of its best intercepts ever out of the Triangle zone. Of interest are 7m of in excess of 38 g/t Au. . .as these new drill results confirm the continuity of the mineralized zone at depth, Integra Gold shareholders should expect both a resource increase and upgrade, as it's very likely some of the Inferred zones can now be upgraded to Indicated resources."

Derek Macpherson, M Partners (4/22/14) "Integra Gold Corp. released results from seven holes of the ongoing drill campaign. . .the results came in ahead of current Triangle zone grades. Today's results returned a weighted-average grade of 13.3 g/t over an average width of 2.8m; this compares favorably to the current resource grade of the Triangle zone of 11 g/t, the overall resource grade of 7.8 g/t and the PEA head grade of 8.1 g/t."

Derek Macpherson, M Partners (4/21/14) "We are initiating coverage of Integra Gold Corp. with a Buy rating and one-year target price of $0.50, implying a rate of return of 100%. . .the company's valuation creates an attractive entry point. . .Integra's favorable location, high grade, lower capital intensity and rampup flexibility should warrant a premium valuation."

Thibaut Lepouttre, Caesars Report (4/17/14) "Integra Gold Corp. announced it has received CA$440K in a tax rebate from the Québec government, which is a tax credit related to the exploration expenditures incurred in 2013. On the permitting front, Integra will submit its environmental baseline study to the relevant authorities when it's applying for an underground exploration permit for 2015. . .assay results are pending for an additional 46 holes at the Lamaque project and we expect to see some exploration updates throughout the next few weeks. . .the 24,000m drill program on the Triangle zone is almost completed."

Thomas Schuster, Rocks to Riches (4/16/14) "Integra Gold Corp. has high-grade gold resources in an excellent jurisdiction, next to extensive mining infrastructure; the technical team is top tier and the project can be developed and expanded in stages to keep costs down. I believe the company has the capability to move the Lamaque project into profitable production and the market will reward it for it."

Benjamin Asuncion, Haywood Securities (4/3/14) "Integra Gold Corp.'s Lamaque project in northwestern Quebec spans 1,459 ha. and is host to a NI-43-101 569 Koz Indicated and 259 Koz Inferred 5 g/t Au resource. . .the project has favorable infrastructure located within 1km of the town of Val-d'Or and is within 45km of six fully functional mills. . .in March 2014, the company tabled a PEA (assuming toll milling) with the potential to deliver annual production of 112.4 Koz Au over a 4.25-year mine life at a cash cost of CA$665/oz. . .the company closed on a $5.3M private placement financing in January."

Mike Bandrowski, Clarus Securities (3/27/14) "Integra Gold Corp.'s base case PEA for its Lamaque gold project has a pretax internal rate of return of 51%, a 1.5-year capital payback period and an NPV of $146M at a 5% discount rate and $1,275/oz Au prices. The PEA is based on resources to 620m and it excludes 41,250m of infill and extensional drilling completed since the latest resource estimate."

Thibaut Lepouttre, Caesars Report (3/25/14) "Integra Gold Corp. once again released excellent drill results. . .the company keeps on spoiling the market with good news, as it has now announced it intersected 5m of almost 0.75 oz/t gold at the Triangle zone on its Lamaque gold project in Val D'Or, Québec. . .the current batch of drill results is important because it confirms the expected geological model. . .we expect a very steady news flow from now on. . .as Integra is currently drilling at Lamaque with no less than six drill rigs (a seventh drill rig is currently cementing holes, which should facilitate the development of Lamaque in a later stage)."

Killian Charles, Industrial Alliance Securities (3/17/14) "Integra Gold Corp. recently released its PEA outlining the potential for an impressive mine in the Val d'Or region. With a pre-tax internal rate of return in excess of 51% (after-tax 38%) and average annual production above 100 Koz/year, we believe that Integra presents a meaningful development scenario. We view its economics as merely the start of a rapidly advancing and evolving story."

Thibaut Lepouttre, Caesars Report (3/11/14) "Integra Gold Corp. has released the PEA we have been waiting for: It calls for an initial mine life of 4.25 years with an average annual production of 112,500 oz/year gold and a peak production of 143 Koz gold in year two. . .this PEA shows how robust the Lamaque project is and we anticipate a very busy trading day in shares of Integra Gold today, as it's one of the very few projects in a safe region with excellent economics."

Vivien Diniz, Gold Investing News (3/11/14) "Quebec-focused Integra Gold Corp. released promising results from the preliminary economic assessment for its Lamanque gold project, located in the prolific Val d’Or gold-producing district. . .the company is looking at a relatively low pre-production capital cost of $69.2M over a period of two years. It expects to produce an annual average of 112,400 oz gold with peak annual production of 143,300 oz."

Thibaut Lepouttre, Caesars Report (2/25/14) "Integra Gold Corp. has reported excellent results from its phase 3 metallurgical test work at its Lamaque gold project. . .the gravity concentration with carbon-in-pulp leach seems to be the best process for the Parallel, Fortune and Triangle zones with recoveries ranging from 93.1% at Fortune to 97.8% at Parallel. . .these excellent metallurgical results are important for the company as it confirms once again that the Lamaque property has all the qualities to become Val d'Or's next gold mine."

Thibaut Lepouttre, Caesars Report (2/19/14) "Integra Gold Corp.'s drill results are extremely important [as] they confirm the high-grade mineralization throughout the Parallel Zone and confirm the validity of the geological model. Of interest are the intercepts encountering 4m of almost half an ounce of gold g/t and the several high-grade short intervals, such as 1m at 91 g/t gold and 1m of almost 74 g/t gold. . .we are now quite confident this project will be a mine in the not-so-distant future, as the results of the infill drill program seem to be confirming the expectations."

Thibaut Lepouttre, Caesars Report (2/11/14) "Integra Gold Corp. has released new drill results on its 100%-owned Lamaque gold project in Québec, Canada. . .the drill results confirm the continuity of mineralized zones and most of the drill holes were drilled in between older holes, which opens the possibility to upgrade a part of the Inferred resource to the Indicated category, thus increasing the quality of the ounces. . .we are looking forward to the results of the PEA later this month, as we expect it to outline a project with low initial capex and a high internal rate of return."

The Gold Report Interview with Killian Charles (2/10/14) "Integra Gold Corp. is a single property with lots of potential but a lot of the ounces can feel separate even if they are close to one another. We're finally seeing the story come together. The company updated its resource estimate. Integra is expecting to put out a PEA in the coming weeks that will continue tying it into a single front. The location is still excellent and it's still fairly high grade. Once the story comes together, investors are going to start paying attention to this simple project in a safe jurisdiction with what could be a textbook mine." More >

Thibaut Lepouttre, Caesars Report (2/5/14) "Integra Gold Corp. has announced it added a fourth drill rig from Orbit Garant Drilling Inc. to its Lamaque project. . .this rig will exclusively work on cementing and sealing the previous drill holes, which is necessary in order to be ready to start underground exploration as early as 2015."

The Critical Investor, Seeking Alpha (2/5/14) "Integra Gold Corp. has a potentially very profitable high-grade gold project in Québec, the Lamaque project. . .the company could be severely undervalued, as it is not well-known to the general public, and could be a very interesting takeover target for Agnico Eagle Mines Ltd. . .Integra's management team is very seasoned, with a lot of experience in mining and exploration, from founding juniors to operating large mines."

Thibaut Lepouttre, Caesars Report (2/4/14) "We visited the Integra Gold Corp.'s Lamaque project in January. . .continuous drilling by the company has resulted in a current resource estimate containing 1.05 Moz gold when using a cutoff grade of 3 g/t and 828,000 oz gold using a cutoff grade of 5 g/t. . .the first catalyst will be the release of the PEA, which should show a low-capex and low-opex operation with a short payback period. . .Integra Gold has the right people and what seems to be the right project."

Thibaut Lepouttre, Caesars Report (1/29/14) "Integra Gold Corp.'s updated estimate reveals an indicated resource totaling 756 Koz at an impressive average grade of 7.1 g/t. The inferred resource contains an additional 294 Koz of gold at 10.1g/t. . .the company has now in excess of the magic threshold of 1 Moz on the Lamaque property. . .the next step for Integra Gold will be to release the results of a preliminary economic assessment. . .the focus will be on bringing the project into production, [after which] more exploration will be conducted funded by the operational cash flow."

Frik Els, Mining Weekly (1/28/14) "Shares in Integra Gold Corp. raced ahead 6% in heavier-than-usual volumes after the company announced an increase to the resource at its Lamaque gold project in the Val-d'Or gold camp in Québec, Canada. . .using a 5 g/t gold cutoff grade, the average Indicated grade of the global Lamaque project resource is now pegged at 9.8 g/t gold for a total of 569,410 oz. . .amid a tough financing environment for junior miners, the company managed to raise $5M in the fall and is also due another $500K in exploration rebates from the Québec government."

The Gold Report Interview with Ian Gordon (1/20/14) "Integra Gold Corp. owns the Lamaque project in Québec's Val-d'Or. That project is an NI 43-101 resource just under 1 Moz, but the company has recently raised $5M. President Steve de Jong sees this downside in gold as an opportunity to acquire cheap good assets and build on the Lamaque project." More >

Thibaut Lepouttre, Caesars Report (11/25/13) "Integra Gold Corp. has announced it discovered the southern extension of the Triangle zone at its Lamaque project in Québec, Canada. This extension is located approximately 175m from the current resource estimate and bodes very well for a future expansion of the resource estimate. . .besides this discovery, the company also intersected more gold at the previously known Triangle zone, where it intersected 7.5m at 4.41 g/t and 4.5m at 4.7 g/t."

Killian Charles, Industrial Alliance Securities (11/19/13) "Integra Gold Corp. released new drill results from exploration surrounding the wholly owned Triangle zone and South Triangle zone. . .new drilling may extend down-dip known mineralized shear zones from the Triangle zone. This presents an exciting opportunity for the company to rapidly add tonnage and ounces in the south cluster by doubling the strike length of some shears. These downdip extensions are near-surface and of similar grade (13.29 g/t Au over 7m)."

Thibaut Lepouttre, Caesars Report (10/4/13) "Integra Gold Corp. has announced an updated resource estimate on its Lamaque gold project in Québec. Using a cutoff grade of 3 g/t, the total resource estimate is 930 Koz gold at an average grade of in excess of 8 g/t. If we apply a higher cutoff grade of 5 g/t, the resource falls to 735 Koz gold, but the average grade increases to almost 12 g/t, which makes the Lamaque project an extremely interesting exploration property. . .Integra is in an excellent position to continue its exploration efforts at Lamaque to break to the important 1 Moz mark."

The Gold Report Interview with Killian Charles (4/22/13) "I find Integra Gold Corp. to be pretty interesting. . .it's an interesting story. Its project used to be part of the Sigma and Lamaque mines, which essentially created Val-d'Or, Québec. There's never been any real work done on the Integra property, which is just to the south of Val-d'Or. It's one of these interesting assets where you don't actually have to demonstrate a large resource to demonstrate that it works. It's continuous and geologically well understood.

Integra's situation comes back to talking about the gold breaking point. I feel an asset that's in a good location like that, with the grades that it has been putting out, would have a very low gold breaking point. Even though it wouldn't be mining 400 Koz/year, costs would remain attractive in any gold mining scenario. . .

Integra was able to access a wealth of information from various databases. In fact, most of the geological staff on this project has previously worked at Sigma or Lamaque. Not only does the staff have access to drill-hole data, but on certain portions, there are drifts that intersect some of its targets at various depth. It's a question of going back and plugging in the holes between these drifts to demonstrate continuity. It's an easy way for the company to leverage this wealth of information and be able to pronounce rather sizeable results for a fraction of the cost of almost any other project out there." More >

The Metals Report Interview with Arie Papernick (4/9/13) "Integra Gold Corp. is exploring its Lamaque property, which features high-grade plugs with really good grade continuity. The company is working on an initial preliminary economic assessment (PEA) that it planned for release this year, so it is carrying out metallurgical testing and environmental studies in preparation for the report. Integra also has continued to hit high-grade intersections including approximately 44 g/t over 2.9m and 173 g/t over 3m at its No. 5 plug, which is a new exploration target that won't be included in the PEA. The company is planning to drill an additional 5,000m at this target after infill drilling in the main zones has been completed.Integra's properties are right on the Cadillac Break, so it's surrounded by lots of mills that aren't being used or are incredibly underutilized.

The company has been around for a long time and changed its name from Kalahari Resources Inc. about two years ago. It was re-organized with new management. The company has been able to finance itself on a pretty regular basis and has strong key shareholder support." More >

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