Integra Resources is a Canadian-listed, U.S.-focused gold producer and developer operating in Nevada and Idaho. Integra's only producing asset is the Florida Canyon Mine in Nevada, an open-pit heap leach gold mine acquired in November 2024 that transformed the company from a pure developer into a producer. At Florida Canyon, ore is mined from open pits, stacked on lined pads, and irrigated with a leach solution to dissolve and recover gold. Integra sells the gold to metal traders at spot prices. The core economics are straightforward: revenue is gold ounces sold multiplied by the realized gold price, and profitability is driven by the spread between that price and all-in sustaining cost (AISC) per ounce. Florida Canyon is guided to produce 70,000–75,000 ounces of gold in 2025. Beyond Florida Canyon, Integra is advancing two development-stage heap leach projects: DeLamar in southwestern Idaho, a past-producing gold-silver deposit currently in feasibility study and early-stage federal permitting, and Nevada North in western Nevada, at an earlier stage of technical and permitting work. Integra's stated strategy is to use Florida Canyon's cash flow to fund development at DeLamar and Nevada North, reducing reliance on equity financing. Over the longer term, management aims to build Integra into a mid-tier gold producer, with M&A flagged as an additional growth lever.