Integra Gold Corp.

Integra Gold is a junior gold exploration company advancing projects in Val-d’Or, Québec, one of the top mining jurisdictions in the world. The Company's primary focus is its high-grade Lamaque South project. In 2014, Integra completed the accretive acquisition of the Sigma Mill and Mine Complex, a fully permitted 2,200 ton per day mill and tailings facility. With major federal and provincial permits in place, existing infrastructure and exploration potential, this acquisition removed major costs and shortened timelines typically associated with mine projects. Integra has raised over $100 million since 2013, at successively higher share prices, despite depressed gold prices. In August 2015, Eldorado Gold Corporation completed a strategic investment in Integra, acquiring 15% of the outstanding common shares. Integra was recently named to the TSX Venture top 50 performers in 2015 and the OTCQX Best 50 award for 2015.

Expert Comments:

Stuart McDougall, M Partners (11/29/16)
"Integra Gold Corp. released what we view as more positive drilling results from its Lamaque South gold project in Val-d’Or, Quebec; the results represent 54 holes comprising 19,310m that focused on infilling the Triangle deposit, specifically the C4 and C5 structures. . .the two C5 intercepts expand that structure by 50m to the west and at depth, lending further support to our expectations for growth in the scheduled resource update."

George Topping, Industrial Alliance Securities (11/28/16)
"We are initiating coverage on Integra Gold Corp., which has an advanced gold exploration vehicle with its principal asset in Val-d'Or, Quebec. . .results from exploratory drilling at Lamaque Deep and Sigma shallow deposits have the potential to dramatically alter the size and scope of the resource. . .the project location, size and infrastructure make this an attractive asset in a consolidating industry; exploration into the deeper reaches of the former Lamaque mine and the shallow areas of the former Sigma mine adds 'Blue Sky' excitement. Additionally, the validation from Eldorado Gold is an endorsement of management and the project."

Joe Reagor, ROTH Capital Partners (11/21/16)
"Integra Gold Corp.'s triangle resource update confirms exploration upside potential. . .the revised resource showed an increase in indicated resources from 503,420 ounces to 580,150 ounces of gold and an increase in inferred resource from 676,960 ounces to 1,040,628 ounces.. . .we base our valuation of ICG on a standard 9% DCF. . .we use a 9% discount rate due to the near-term need for capital to begin construction of the project. . .once fully funded a project of this nature would justify a 7-8% discount rate, in our view. we are reiterating our Buy rating and CAD$1.00 price target."

Lauren McConnell, Paradigm Capital (11/17/16)
"Integra Gold Corp. released updated resource estimates for the Triangle and No. 4 Plug deposits at its flagship Lamaque project. . .we remind investors that the PEA projections will be dated, making it only a snapshot of where things stood in early 2016. . .the ounces added at Triangle were at an attractive ~US$13/oz. We estimate that discovery costs in a safe, mining friendly jurisdiction are typically closer to US$100/oz+. . .Integra's Lamaque project continues to be our favourite development story. . .we maintain our Speculative Buy rating and C$1.30 target price."

Thibaut Lepouttre, Caesars Report (11/17/16)
"Integra Gold Corp. plans to release an updated Preliminary Economic Assessment in January 2017, and this ‘interim resource’ will be the basis for the new mine plan which will include more than three times as much gold and should have a tremendous impact on the Net Present Value of the project. . .another catalyst for Q1 2017 will be the assay results from the Lamaque Deep exploration program. . .everything is still going according to plan at Integra Gold, and we’re looking forward to see the updated PEA, as well as the Lamaque Deep drill results and yet another resource update in Q1 2017."

Kerry Smith, Haywood Securities (11/16/16)
"Integra Gold Corp.'s Triangle deposit remains the bulk of the overall resource. . .at a 5.0 g/t Au cut-off, Indicated resources in the Triangle deposit increased by 15.2% to 580,150 oz of gold. . .our $0.90 target is based on a fully financed, after-tax basis considering a 1.1x multiple to our project net asset value NAV for their 100% owned Lamaque project of $0.80 per share after corporate adjustments. . .integra is trading at US$34 EV/oz of gold and 0.46 NAV, versus peers at US$42 EV/oz of gold and 0.60x NAV."

Paradigm Capital's top picks for Q3/16 include gold and zinc mining companies with upcoming catalysts worthy of investors' attention.
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More Expert Comments

Experts Following This Company

Ralph Aldis, Portfolio Manager, Gold and Natural Resources – U.S. Global Investors
Barry Allan, Vice Chair of Mining Group, and Senior Mining Analyst – Mackie Research Capital
Michael Gray, Analyst – Macquarie Capital Markets
Jason Hamlin, Founder – Gold Stock Bull
Jeb Handwerger, Author Gold Stock Trades
Byron King, Editor – Agora Financial
Eric Lemieux, Analyst – PearTree Securities
Thibaut Lepouttre, Editor Caesars Report
Derek Macpherson, VP Mining Analysis – Red Cloud Klondike Strike Inc.
Lauren McConnell – Paradigm Capital
Stuart McDougall, VP Research Analyst – Jennings Capital
Andrew Mikitchook, Analyst – M Partners
Gwen Preston, Founder Resource Maven
Joe Reagor, Analyst – ROTH Capital Partners
Phil Russo, Research Associate – Raymond James
David Sadowski, Analyst – Raymond James
Kerry Smith, Analyst – Haywood Securities
George Topping – Industrial Alliance Securities
Eric Zaunscherb, Analyst – Canaccord Genuity

The information provided above is from analysts, newsletters, the company and other contributors.

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Investing Highlights
High-Grade Gold in Quebec, Canada
Updated Preliminary Economic Assessment and Resource Estimate expected in H2 2016
Fully Permitted Mill and Tailings Facility Acquired