TSX-V- and NYSE-American-listed Integra Resources has announced record fourth-quarter and full-year gold production results from its principal operating asset, the Florida Canyon mine, in Nevada.

The results mark a milestone for the company, as 2024 represents its first year of reported production since acquiring Florida Canyon in mid-2024.

Integra reported total production of 72 229 oz of gold for 2024, representing the highest yearly production at the mine in 21 years. Fourth-quarter output accounted for 21 278 oz of this total.

The strong production performance in 2024 at Florida Canyon was supported by the construction and commissioning of the new Phase 3-A of the south heap leach pad and enhancements to solution processing systems.

President and CEO George Salamis said it was a “significant milestone” for Integra. “We are excited to announce record gold production from Florida Canyon in 2024. This represents the highest total production from the mine in over two decades and marks the inaugural reported production for Integra,” he said.

Salamis also highlighted the company’s robust financial position, with a year-end unaudited cash balance of about $52-million. “This demonstrates the company’s excellent financial position to begin 2025,” he noted.

Meanwhile, Integra announced the implementation of a gold price protection programme for its 2025 production at Florida Canyon. The programme involves the purchase of put options, securing a floor price for gold while maintaining exposure to potential price increases.

The price protection programme consists of the purchase of 37 800 oz of put options with a strike price of $2 400/oz, equally spread across January to December 2025.

Production hedged by put options represents about 54% of the contemplated 2025 gold ounces sold at Florida Canyon.

“Utilising put options effectively secures downside price protection while maintaining full exposure to gold price upside,” Salamis explained.

“With a focus on capital allocation, securing production margins in 2025 is critical for demonstrating profitability at Florida Canyon while also supporting the continued advancement of the DeLamar and Nevada North projects.”