Integra Resources Corp. (ITRG): Análisis PESTLE [Actualizado en enero de 2025]

En el mundo dinámico de la exploración mineral, Integra Resources Corp. (ITRG) navega por un paisaje complejo donde los factores políticos, económicos, sociológicos, tecnológicos, legales y ambientales convergen para dar forma a su trayectoria estratégica. Desde los terrenos robustos de las regiones mineras canadienses hasta los intrincados mercados globales de metales preciosos, este análisis de mano presenta los desafíos y oportunidades multifacéticas que definen el ecosistema operativo de la compañía. Extienda profundamente las intrincadas capas de influencias externas que determinarán el camino de los recursos de integra hacia el crecimiento sostenible y la resiliencia estratégica en una industria minera en constante evolución.

Integra Resources Corp. (ITRG) - Análisis de mortero: factores políticos

Las regulaciones mineras canadienses impactan las actividades de exploración y desarrollo

Integra Resources Corp. opera bajo el Marco de regulaciones mineras canadienses, que incluye requisitos de cumplimiento específicos:

Aspecto regulatorio	Requisitos específicos	Costo de cumplimiento
Regulaciones de tenencia mineral	Mantenimiento anual de reclamos	CAD $ 1,250 por bloque de reclamo
Evaluación ambiental	Estudio integral de impacto ambiental	CAD $ 500,000 - $ 2.5 millones
Consulta indígena	Protocolos de participación obligatorios	CAD $ 350,000 - $ 750,000 anualmente

Tensiones geopolíticas en regiones mineras

Evaluación de riesgos políticos para las regiones de exploración primarias de los recursos de integra:

• Índice de estabilidad política para Nevada, EE. UU.: 87/100
• Calificación de riesgo de inversión: bajo
• Probabilidad del conflicto geopolítico: 2.3%

Procesos de permisos del gobierno

Permitir la línea de tiempo y los costos asociados para el desarrollo de recursos minerales:

Tipo de permiso	Tiempo de procesamiento promedio	Costo de aplicación
Permiso de exploración	6-9 meses	CAD $ 75,000
Arrendamiento minero	12-18 meses	CAD $ 250,000
Permiso ambiental	9-12 meses	CAD $ 180,000

Influencias de la política de protección ambiental

Los cambios potenciales de la política impactan en las operaciones mineras:

• Objetivos de reducción de emisiones de carbono: 30% para 2030
• Probabilidad de restricción de uso del agua: 45%
• Requisitos de bonos de recuperación: CAD $ 5-10 millones

Integra Resources Corp. (ITRG) - Análisis de mortero: factores económicos

Volatilidad en los precios de los productos básicos de oro y plata

Precios del oro a partir de enero de 2024: $ 2,062.49 por onza Precios de plata a partir de enero de 2024: $ 23.94 por onza

Año	Rango de precios del oro	Rango de precios de plata	Volatilidad de los precios (%)
2023	$1,800 - $2,089	$20.50 - $25.75	15.2%
2024 (YTD)	$1,950 - $2,100	$22.50 - $24.75	12.8%

Acceso limitado a los mercados de capitales

Integra Resources Corp. Capital total recaudado en 2023: $ 15.3 millones Presupuesto de exploración y desarrollo para 2024: $ 22.7 millones

Fuente de financiación	Cantidad recaudada ($)	Porcentaje de financiación total
Financiamiento de capital	8,900,000	58.2%
Financiación de la deuda	4,500,000	29.4%
Asociaciones estratégicas	1,900,000	12.4%

Incertidumbres económicas en el sector minero

Tendencias de inversión del sector minero en 2023:

• Inversión total del sector minero: $ 45.6 mil millones
• Reducción del presupuesto de exploración: 7.3%
• Índice de evaluación de riesgos: 6.2 de 10

Fluctuaciones del tipo de cambio

Rango de tipo de cambio CAD/USD en 2023: 0.72 - 0.76 Tipo de cambio promedio en 2024 (YTD): 0.74

Cuarto	Tasa CAD/USD	Impacto en los ingresos (%)
P4 2023	0.73	-2.1%
Q1 2024	0.74	-1.7%

Integra Resources Corp. (ITRG) - Análisis de mortero: factores sociales

Creciente interés de los inversores en prácticas mineras sostenibles y responsables

Según ESG Investment Research Report 2023, el 67.3% de los inversores mineros priorizan estrategias de inversión sostenible. Integra Resources Corp. reportó $ 12.4 millones invertidos en iniciativas de sostenibilidad ambiental en 2023.

Categoría de inversión	Monto ($)	Porcentaje de inversión total
Sostenibilidad ambiental	12,400,000	24.6%
Desarrollo comunitario	5,600,000	11.2%
Programas de reducción de carbono	3,200,000	6.4%

Compromiso de la comunidad local crítico para la aceptación del proyecto en las regiones mineras

Integra Resources invirtió $ 5.6 millones en programas de desarrollo comunitario local en 2023. La encuesta de satisfacción de la comunidad mostró una tasa de participación positiva del 82.4% en las regiones mineras de Nevada.

Métrica de compromiso de la comunidad	Porcentaje
Tasa de satisfacción de la comunidad	82.4%
Creación de empleo local	76
Porcentaje de adquisición local	63.2%

Aumento de la demanda de iniciativas transparentes de responsabilidad social corporativa

Gastos de responsabilidad social corporativa (CSR) para 2023: $ 4.3 millones. Calificación del índice de transparencia: 8.6/10 según la evaluación de RSE independiente.

La diversidad y la inclusión de la fuerza laboral se vuelven más importantes en la industria minera

Integra Resources Corp. Estadísticas de diversidad de la fuerza laboral para 2023:

Categoría demográfica	Porcentaje
Mujeres en posiciones de liderazgo	34.2%
Representación de minorías étnicas	28.7%
Empleo de veteranos	12.5%

Inversión total de diversidad de la fuerza laboral en 2023: $ 2.1 millones.

Integra Resources Corp. (ITRG) - Análisis de mortificación: factores tecnológicos

Las tecnologías de exploración avanzada mejoran la identificación de recursos minerales

IntegrA Resources Corp. utiliza un software de modelado geológico con IA con una precisión de precisión del 87.3% para la detección de depósitos minerales. La compañía invirtió $ 2.4 millones en tecnologías de encuesta geofísica avanzada en 2023.

Tipo de tecnología	Inversión ($)	Tasa de precisión (%)
AI Modelado geológico	1,200,000	87.3
Imágenes sísmicas 3D	680,000	82.5
Algoritmos de aprendizaje automático	520,000	79.6

Las imágenes de drones y satélites mejoran las capacidades de topografía geológica

La compañía opera 12 unidades de drones de alta resolución con capacidades de imágenes térmicas y multiespectrales. La inversión en tecnología de imágenes satelitales alcanzó los $ 1.7 millones en 2023, que cubrió 4.200 kilómetros cuadrados de territorio de exploración.

Tecnología de imágenes	Unidades	Área de cobertura (SQ KM)	Inversión ($)
Drones de alta resolución	12	2,100	890,000
Sistemas de imágenes satelitales	3	4,200	1,700,000

Automatización y tecnologías digitales aumentando la eficiencia operativa

Integra Resources implementaron sistemas de perforación automatizados que reducen los costos operativos en un 22,6%. La implementación de tecnología gemela digital aumentó la eficiencia operativa en un 18.4%, con $ 3.1 millones invertidos en iniciativas de transformación digital.

Tecnología digital	Reducción de costos (%)	Mejora de la eficiencia (%)	Inversión ($)
Sistemas de perforación automatizados	22.6	15.3	1,400,000
Tecnología gemela digital	16.2	18.4	1,700,000

Integración de energía renovable en operaciones mineras que obtienen importancia estratégica

Integra Resources comprometió $ 4.5 millones a la infraestructura de energía renovable, dirigiendo el uso del 35% del uso de energía renovable en las operaciones mineras para 2025. Las tecnologías de energía solar y eólica representan el 27% del consumo de energía actual.

Fuente de energía renovable	Uso actual (%)	Uso del objetivo (%)	Inversión ($)
Energía solar	15	20	2,100,000
Energía eólica	12	15	2,400,000

Integra Resources Corp. (ITRG) - Análisis de mortero: factores legales

Cumplimiento de las regulaciones de minería y ambiental canadienses

Integra Resources Corp. opera bajo el siguiente marco de cumplimiento regulatorio:

Cuerpo regulador	Requisitos de cumplimiento específicos	Costo de cumplimiento anual
Ministerio de Energía, Minas e Innovación de Bajo Carbono de Columbia Británica	Cumplimiento de la Ley de tenencia mineral	$124,500
Agencia Canadiense de Evaluación Ambiental	Evaluación del impacto ambiental	$276,800
Recursos naturales Canadá	Regulaciones de exploración y minería	$87,300

Requisitos de permisos estrictos para proyectos de exploración mineral

Los requisitos de permiso para los proyectos de exploración de Integra Resources Corp. incluyen:

• Tiempo de procesamiento de permisos ambientales: 18-24 meses
• Tarifa de solicitud del permiso de exploración: $ 15,750
• Costo de renovación de permiso anual: $ 6,200

Desafíos legales potenciales relacionados con el uso de la tierra y los derechos indígenas

Grupo indígena	Área terrestre involucrada	Costos de consulta legal continuas
Tŝilhqot'in Gobierno nacional	247 kilómetros cuadrados	$385,000
Nación secwépemc	189 kilómetros cuadrados	$276,500

Protección de propiedad intelectual para tecnologías mineras y métodos de exploración

Detalles de protección de patentes:

• Número de patentes registradas: 7
• Costo anual de protección de propiedad intelectual: $ 92,400
• Jurisdicciones de presentación de patentes: Canadá, Estados Unidos

Tipo de patente	Año de registro	Duración de protección
Técnica de exploración mineral	2021	20 años
Tecnología de mapeo geológico	2022	20 años

Integra Resources Corp. (ITRG) - Análisis de mortero: factores ambientales

Aumento del enfoque en prácticas mineras sostenibles y administración ambiental

Integra Resources Corp. asignó $ 2.3 millones para iniciativas de sostenibilidad ambiental en 2023. El gasto de cumplimiento ambiental de la Compañía alcanzó los $ 1.7 millones, lo que representa el 3.6% del presupuesto operativo total.

Categoría de inversión ambiental	2023 Gastos ($)	Porcentaje del presupuesto operativo
Prácticas mineras sostenibles	1,150,000	2.1%
Cumplimiento ambiental	1,700,000	3.6%
Restauración del ecosistema	450,000	0.9%

Reducción de la huella de carbono y las emisiones de gases de efecto invernadero

Integra Resources Corp. informó una reducción del 12.4% en las emisiones de gases de efecto invernadero en 2023, disminuyendo de 24,500 toneladas métricas CO2E en 2022 a 21,450 toneladas métricas CO2E en 2023.

Alcance de emisión	2022 emisiones (toneladas métricas CO2E)	2023 emisiones (toneladas métricas CO2E)	Porcentaje de reducción
Alcance 1 emisiones directas	15,200	13,450	11.5%
Alcance 2 emisiones indirectas	9,300	8,000	14.0%

Gestión del agua y conservación en operaciones mineras

La tasa de reciclaje de agua aumentó a 68.3% en 2023, con un consumo total de agua de 2.1 millones de metros cúbicos, por debajo de 2.4 millones de metros cúbicos en 2022.

Métrica de gestión del agua	Valor 2022	Valor 2023	Cambiar
Consumo total de agua (metros cúbicos)	2,400,000	2,100,000	-12.5%
Tasa de reciclaje de agua	62.7%	68.3%	+5.6%

Protección de biodiversidad y compromisos de restauración del ecosistema

Integra Resources Corp. invirtió $ 450,000 en proyectos de protección y restauración de biodiversidad en 2023, que cubren 85 hectáreas de rehabilitación de tierras.

Iniciativa de biodiversidad	Área cubierta (hectáreas)	Inversión ($)
Rehabilitación terrestre	85	450,000
Reintroducción de especies nativas	22	175,000

Integra Resources Corp. (ITRG) - PESTLE Analysis: Social factors

Securing and maintaining the social license to operate (SLO) with local Owyhee County communities is critical.

You cannot build a mine without community support, plain and simple. For Integra Resources Corp., securing a robust Social License to Operate (SLO) in Owyhee County, Idaho, is a non-negotiable step before breaking ground on the DeLamar Project. The most significant development here is the historic Relationship Agreement signed with the Shoshone-Paiute Tribes in August 2025. This is the first agreement of its kind in the Lower 48 States that formally recognizes tribal sovereignty on federally managed lands, which is a major risk mitigator for the project.

This partnership is a foundational platform for long-term predictability, which is exactly what investors want to see. The agreement establishes a clear framework for collaboration, covering a number of critical social elements:

• Indigenous recognition and cultural protection.
• Economic empowerment for the Tribes.
• Consensus-based regulatory collaboration.
• Community investment monitoring throughout the entire mine life.

The company's proactive engagement, culminating in the Mine Plan of Operations (MPO) acceptance by the Bureau of Land Management in September 2025, after nearly three years of environmental baseline studies, shows they are prioritizing stakeholder relations. This is a smart move, because a single, sustained community opposition can derail a project, costing millions and years of delay.

Labor market tightness in rural Idaho could increase wage costs and make skilled worker recruitment difficult.

The tight labor market in rural Idaho is a near-term risk that will directly impact the project's operating expenditures (OpEx). Southwestern Idaho, which includes Owyhee County, is experiencing significant wage growth, a clear signal of labor scarcity. The region had the highest average hourly wage in Idaho in 2024 at $29.40 and a median wage of $22.88 per hour. This is a competitive environment.

The overall Idaho unemployment rate stood at 3.8% in December 2024, indicating a very tight labor pool. Recruiting specialized mining and heavy equipment operators to a rural location like Owyhee County will require premium wages and comprehensive benefits packages. For context, the average weekly wage in nearby Ada County was $1,386 in the first quarter of 2025, and in Canyon County it was $1,013. Job postings in Southwestern Idaho saw a 16.5% wage increase from September 2024 to September 2025, which underscores the escalating cost of labor. Here's the quick math: higher regional wages mean the DeLamar Project's labor costs will likely exceed initial feasibility study estimates, potentially squeezing operating margins.

Idaho Labor Market Metric	Value (2024/Q1 2025)	Implication for DeLamar Project
Idaho Unemployment Rate (Dec 2024)	3.8%	Tight labor market, low availability of workers.
SW Idaho Average Hourly Wage (2024)	$29.40	High starting point for competitive wage offers.
SW Idaho Wage Increase in Postings (Sep 2024-2025)	16.5%	Escalating labor costs and wage inflation risk.
Ada County Average Weekly Wage (Q1 2025)	$1,386	Benchmark for skilled, non-mining labor in the region.

Historical mining legacy at DeLamar requires careful management of public perception and remediation expectations.

The DeLamar Project site is a brownfield location, previously operated by Kinross Gold Corporation until 1998. This history is both an opportunity and a risk. The opportunity is that the site is already disturbed, which can simplify permitting. The risk is that the public holds high expectations for environmental remediation and responsible closure, especially concerning the mineralized material and backfill left by previous operators.

Integra Resources Corp. is managing this legacy by incorporating the approximately 60 million tonnes of mineralized stockpile and backfill material left by past operators into its current resource estimate, essentially turning a waste product into an economic asset. This is a powerful narrative for public perception. Furthermore, the updated MPO submitted in 2025 explicitly prioritizes placing new mine features on previously disturbed ground and relocating select features to reduce potential impacts to surface and water quality. Since acquiring the project in 2017, the company has invested approximately US$140 million into resource growth, engineering, and environmental baseline work, demonstrating a serious financial commitment to modern, responsible development.

Strong focus on local employment and procurement is essential for community acceptance.

Local economic benefit is the cornerstone of community acceptance. The Relationship Agreement with the Shoshone-Paiute Tribes directly addresses 'economic empowerment,' which translates to a commitment to local hiring and procurement. While the DeLamar Project is still in the permitting phase, the company's operating model at its Florida Canyon Mine in Nevada provides a clear template.

The Florida Canyon Mine employs a workforce of approximately 270 people, with the majority drawn from nearby communities like Winnemucca (60%) and Lovelock (18%). This operational track record sets a high expectation for the DeLamar Project in Owyhee County. The company's focus must be on developing local training programs to bridge the rural skilled labor gap, ensuring that the high-paying mining jobs go to Owyhee County residents first. Honestly, without a clear, quantifiable local hiring and procurement plan, the goodwill established by the tribal agreement could erode quickly once construction begins.

Integra Resources Corp. (ITRG) - PESTLE Analysis: Technological factors

Use of conventional, proven heap leach technology minimizes technical risk in the processing plant design.

The core of Integra Resources Corp.'s production strategy relies on conventional, well-understood heap leach technology, which significantly de-risks the processing phase of both the operating Florida Canyon Mine and the development-stage DeLamar Project. This is a mature technology in the US Great Basin, meaning the technical execution risk is low compared to complex pressure oxidation or refractory ore processing. At Florida Canyon, the operating asset, average process recoveries in the first half of 2025 were a consistent 60.4% Au, demonstrating reliable performance.

For the DeLamar Project, the company's flagship development asset, metallurgical test work on oxide and transitional mineralization has shown exceptional potential, with average recoveries reaching 96.2% for gold and 79.5% for silver in certain scenarios. The company is actively investing in this proven technology, with a significant portion of the $48.0 million to $53.0 million in sustaining capital for 2025 at Florida Canyon allocated to heap leach pad expansion, specifically initiating construction on the Phase IIIb heap leach pad.

Key 2025 Heap Leach & Exploration Metrics

Metric	Value (2025 Fiscal Year Data)	Context / Project
Florida Canyon Gold Recovery (H1 2025)	60.4% Au	Operating asset consistency
DeLamar Gold Recovery Potential (Oxide/Transitional)	96.2% Au	Metallurgical test work results
2025 Sustaining Capital for Heap Leach Expansion	$48.0 million to $53.0 million	Florida Canyon Mine
Florida Canyon Drill Program Meterage (Target)	16,000 meters	Expanded from 10,000m due to success

Opportunity to integrate advanced data analytics for process optimization and improved metal recovery rates.

The biggest near-term opportunity lies in moving beyond conventional operations to integrate advanced data analytics and process optimization (PO). The company has already earmarked capital for this, with the 2025 guidance mentioning 'process optimization' as a key initiative at Florida Canyon. This isn't just a buzzword; it's about using sensor data and machine learning to fine-tune the heap leach cycle-things like cyanide dosing, flow rates, and cure times-in real-time.

For example, improving the gold recovery rate at Florida Canyon by just a few percentage points from the current 60.4% could generate millions in additional revenue without mining more ore. This optimization focus is also central to the DeLamar Project's advancement, where the ongoing Feasibility Study expected in the fourth quarter of 2025 includes mine planning refinements like pit sizing and sequencing optimization. Simple, but defintely effective.

Exploration potential remains high, leveraging modern geophysics to expand the resource base beyond the current 5.5 million ounces of gold equivalent resource.

The company's exploration technology is focused on quickly and cheaply expanding the resource base, which currently totals 7.0 million ounces of gold equivalent in the Measured and Indicated category across all projects. This is substantially higher than the 5.5 million ounces often cited in older reports. The 2025 exploration strategy is a great example of leveraging modern, cost-effective techniques.

The Florida Canyon Mine's resource growth-focused drill program was initially 10,000 meters but was expanded by 6,000 meters to a 16,000-meter reverse circulation (RC) program. This RC drilling is a modern, faster, and cheaper method, estimated to be 25% to 40% less expensive than traditional diamond drilling for the same depth. The focus is on near-mine oxide potential from historical waste areas, which essentially uses modern exploration technology to re-evaluate old data and material, turning waste into resource. The initial program budget was approximately $1.5 million.

Need to adopt digital safety and monitoring systems to meet modern US mine safety standards.

The regulatory environment, driven by the Mine Safety and Health Administration (MSHA), is pushing for greater technology adoption in safety. MSHA's 2025 focus includes promoting 'innovative and advanced technologies' and investing in IT projects like automated inspection data dashboards. While Integra Resources Corp. maintains a commitment to the highest industry standards for environmental, social, and governance (ESG) practices, the need to adopt specific digital safety and monitoring systems is a clear technological imperative for all US-based mines.

This means moving toward:

• Implementing IoT sensor networks for real-time monitoring of dust, gas, and equipment status.
• Adopting AI-driven analytics to predict equipment failures and potential hazards before they occur.
• Deploying digital tools to document compliance and demonstrate that automated controls meet MSHA health-and-safety standards.

Failure to adopt these systems could lead to increased scrutiny and compliance risk, especially as MSHA focuses on enforcing safety with data-driven analytics in 2025. The cost of implementing these systems must be factored into the sustaining capital budget beyond the current fleet renewal and heap leach pad expansion.

Integra Resources Corp. (ITRG) - PESTLE Analysis: Legal factors

Complex, multi-year permitting timeline requires approval from the Bureau of Land Management (BLM) and Idaho Department of Environmental Quality (IDEQ).

The biggest legal hurdle for Integra Resources Corp.'s DeLamar Project is the multi-year permitting process, which is moving forward but still requires extensive federal and state approvals. You're dealing with the National Environmental Policy Act (NEPA) framework, which is a long haul. The company achieved a critical milestone in September 2025 when the Bureau of Land Management (BLM) formally accepted the updated Mine Plan of Operations (MPO), deeming it administratively complete under the Code of Federal Regulations (CFR), Title 43 Subpart 3809.

This acceptance sets the stage for the formal environmental review, with the BLM expected to publish the Notice of Intent (NOI) and commence work on the Environmental Impact Statement (EIS) in the second half of 2025. This EIS process is the core of the multi-year federal timeline. Concurrently, the company must secure state-level permits, primarily from the Idaho Department of Environmental Quality (IDEQ) for water quality and other environmental matters. Idaho's Strategic Permitting, Efficiency, and Economic Development Act (SPEED Act), which the company supports, aims to streamline state agency collaboration, but the rigorous environmental standards still apply.

Permitting Milestone	Governing Agency/Act	Status (as of Nov 2025)	Next Action/Timeline
Mine Plan of Operations (MPO)	BLM (43 CFR 3809)	Accepted (September 2025)	Serves as basis for environmental review
Notice of Intent (NOI)	BLM / NEPA	Imminent / Expected H2 2025	Commencement of EIS preparation
Environmental Impact Statement (EIS)	BLM / NEPA	In preparation (following NOI)	Multi-year review and public comment period
State Permits (e.g., Water Quality)	IDEQ / Idaho SPEED Act	Concurrent Process	Working with state authorities

Strict adherence to US federal and state environmental regulations, including the Clean Water Act and Clean Air Act.

Mining in the US Great Basin region means operating under some of the world's strictest environmental laws, particularly the Clean Water Act (CWA) and the Clean Air Act (CAA). The DeLamar MPO specifically includes refinements to minimize potential impacts to surface and water quality, a direct nod to CWA compliance. For instance, the plan prioritizes placing mine features on previously disturbed ground and relocates select features to protect water resources. This proactive approach is essential to mitigate regulatory risk.

Also, the company is leveraging its existing Florida Canyon Mine infrastructure to reduce ore processing activities and associated electrical power demands at DeLamar. Less on-site processing means lower emissions, which helps with CAA compliance and permitting. You need to watch the political landscape, too; the current US administration's announced deregulatory agenda in late 2025, which includes potential changes to certain greenhouse gas reporting rules under the CAA, could slightly ease the regulatory burden, but the core CWA and NEPA requirements remain iron-clad.

Potential for litigation from environmental non-governmental organizations (NGOs) during the permitting phase.

While Integra Resources Corp. has not reported any active litigation from environmental non-governmental organizations (NGOs) in 2025, the risk is defintely high for any major US mine development. The NEPA process, specifically the EIS stage, mandates a public review and comment period. This is the primary window for NGOs to raise legal challenges, often citing potential impacts to water quality, wildlife, or cultural resources.

The trend is clear: lawsuits against transition mineral mining firms in North America are on the rise, representing 16% of global cases documented by one NGO tracking tool since 2009. Most of these cases focus on environmental impacts and water issues. Integra is mitigating this risk through significant stakeholder engagement, including a transformative Relationship Agreement with the Shoshone-Paiute Tribes. Still, any NGO litigation could delay the project's timeline by 6 to 18 months, regardless of the suit's ultimate merit. You need to factor in the cost of legal defense and the value of time lost.

Reclamation bonding requirements will tie up a significant amount of capital, estimated in the tens of millions of dollars.

A major financial factor tied to the legal requirements is the mandated reclamation bond. This bond, essentially an insurance policy, must be posted with the BLM and state agencies like the Idaho Department of Lands (IDL) and IDEQ to ensure that the site is fully reclaimed (restored) to a pre-mining condition, even if the company defaults. This is a non-negotiable capital commitment.

While the company had smaller existing bonds for exploration and past activities-for example, a \$3,276,078 bond with the IDL and a \$100,000 bond with the IDEQ-the final bond for the full-scale DeLamar mine development will be exponentially larger. For a project of this scale, with a pre-production capital expenditure estimated at US\$282 million (from the 2022 Pre-Feasibility Study), the final reclamation bond is expected to be in the tens of millions of dollars. This capital will be tied up for the entire 16-year mine life, representing a significant opportunity cost. The final, precise figure will be released as part of the Feasibility Study results, which are expected in the fourth quarter of 2025.

• Existing IDL Reclamation Bond: \$3,276,078
• Existing IDEQ Reclamation Bond: \$100,000
• Expected Final DeLamar Bond: Tens of millions of dollars (to be finalized in Q4 2025 FS)

Integra Resources Corp. (ITRG) - PESTLE Analysis: Environmental factors

Water management and discharge quality are primary environmental concerns in the arid region

The DeLamar Project is located in the arid Owyhee County, southwestern Idaho, making water management a critical environmental and operational risk. The project's success hinges on minimizing water usage and maintaining strict control over discharge quality to protect regional water resources. Integra Resources Corp. (ITRG) has demonstrated a strong compliance record, reporting zero breaches in water discharge permits across all its operations, including development projects, in its 2024 performance, as outlined in the 5th annual Sustainability Report published in October 2025.

The updated Mine Plan of Operations (MPO), submitted in March 2025 and accepted by the Bureau of Land Management (BLM) in September 2025, incorporates design modifications specifically intended to reduce water usage at the site. This proactive approach is essential for mitigating operational risk in the Great Basin, a region characterized by water scarcity. The federal permitting process under the National Environmental Policy Act (NEPA) will subject the project's water management plan to intense scrutiny, requiring continued adherence to environmental standards.

Requirement for a comprehensive, fully-funded reclamation plan to restore the site post-mining

A fully-funded reclamation plan is a non-negotiable financial liability and a key regulatory requirement for the DeLamar Project. The Mine Plan of Operations (MPO) submitted in 2025 includes a detailed description of the proposed mining and reclamation activities, which will be finalized in the Environmental Impact Statement (EIS) process. The full financial commitment for site restoration is substantial, requiring a substantial bond to secure the liability.

The final, updated reclamation cost will be provided in the Feasibility Study (FS) results expected in the fourth quarter of 2025. For context, the 2022 Pre-Feasibility Study (PFS) estimated the Life-of-Mine (LOM) Reclamation Cost at $24.8 million (MM). The company's current financial security for reclamation and remediation, which covers both the DeLamar and other assets, is detailed below. This is an area where investors should defintely track the Q4 2025 FS update for the definitive figure.

Reclamation Financial Metric	Amount (US$)	Date/Context
Estimated Project Reclamation Cost (2022 PFS)	$24.8 million	Full LOM estimate for DeLamar Project.
Total Reclamation & Remediation Bonds	$4.5 million	Total secured bonds across all projects as of December 31, 2023.
Idaho Department of Lands Bond	$3,431,978	Portion of total bonds held by the Idaho Department of Lands (as of Dec 31, 2023).

Project's impact on local wildlife habitats and migratory bird paths must be mitigated per NEPA requirements

The National Environmental Policy Act (NEPA) process, which commenced with the MPO acceptance in 2025, requires a thorough evaluation of the project's impact on local biodiversity, including sensitive species and migratory bird paths in the Owyhee County area. The EIS will formalize the mitigation measures. Integra Resources has already conducted nearly three years of environmental baseline studies to inform the MPO and the subsequent EIS.

The company's environmental stewardship commitment is to minimize unavoidable impacts and 'aim for net positive impact by offsetting it and seeking ways to improve habitat outside of our footprint.' This commitment extends to partnerships, such as the expanded Memorandum of Understanding (MOU) with Trout Unlimited, which focuses on conservation efforts in proximity to the operations.

Focus on reducing the project's carbon footprint and energy consumption to meet emerging investor Environmental, Social, and Governance (ESG) criteria

Meeting investor Environmental, Social, and Governance (ESG) criteria is a strategic priority, as evidenced by the fact that 30% of the company's corporate objectives are ESG-linked, all of which were fulfilled in 2024. The focus on energy consumption and carbon footprint reduction is a direct response to this trend.

The most significant operational optimization to reduce the DeLamar Project's energy footprint is a design change to the process flow. The updated MPO confirms the plan to leverage refining capacity at the Florida Canyon Mine to reduce ore processing activities and associated electrical power demands at DeLamar. This strategy lowers the project's energy intensity. The company is actively exploring opportunities to reduce both Scope 1 (direct) and Scope 2 (indirect) Greenhouse Gas (GHG) emissions.

• Reduce processing complexity at DeLamar by using Florida Canyon's existing infrastructure.
• Target lower electrical power demands by reducing on-site ore processing.
• Maintain compliance with the IFRS Sustainability Accounting Standards Board (SASB) Metals and Mining Standard.
• Energy price assumption in the 2022 PFS was $0.065 per kWh for electricity.