Drill results on 17 holes in Integra Gold Corp.'s (ICG:TSX.V; ICGQF:OTCQX) Triangle deposit, which is part of the Lamaque gold project in Val-d'Or, Quebec, were released recently by Integra Gold Corp. Stephen de Jong, president and CEO of Integra, stated that the results "continue to demonstrate internal mineralization continuity and support the resource expansion potential at Triangle. The high-grade results from C2 are especially encouraging as this area will soon be accessible via the exploration ramp and is the target of the underground bulk sample program planned for Q3 2017."
These results have been viewed favorably by M Partners Analyst Stuart McDougall, who wrote on Jan. 11 that Integra released "what we view as more positive drilling results from its Lamaque South gold project in Val-d'Or, Quebec." He noted that "we continue to expect the Triangle resource to be expanded and upgraded in the next updated estimate," planned for Q1/17.
Macquarie Research has designated Integra as a top pick for 2017. In a Jan. 17 report, the firm noted that 2017 "appears to be shaping up to be a transformative year. . .there is significant resource expansion potential with the updated resource at Triangle in 1Q17, with mine life and low capital intensity scalability implications." The updated PEA that is anticipated in Q1/17 "will highlight the mining cost breakdown for a higher percentage of long hole open stoping. The bulk sample in 3Q17 will provide important block model reconciliation data in addition to trial mining data as ICG advances towards a Feasibility and construction decision. "
Macquarie also noted that "on the exploration front, ICG is testing several high priority targets, which have the potential to significantly increase intermediate/senior mining company interest in the project and drive share price performance."
Tara Hassan of Raymond James, in a Jan. 23 initiation of coverage report, noted that " we expect that a continued aggressive exploration approach at Lamaque coupled with a number of key project updates in 2017 (resource update, PEA update, completion of exploration ramp, and underground bulk sample) will confirm the potential for a larger, longer life and more economic operation at Lamaque."
Hassan also noted that 2017 could be pivotal for Integra: "With Triangle now well defined and reaching a critical scale to support a construction decision, Integra is now able to shift some of its exploration focus and dollars to satellite targets and the deep potential at Lamaque. As a result, we expect 2017 could be a pivotal year to demonstrate the potential of the larger property package."
Hassan also expects outside interest in Integra, stating, "With a sizable resource already defined, a permitted mill on site, significant exploration upside remaining and the potential for near term production, we believe Integra is at the top of the list for potential acquisitions."
Read what other experts are saying about:
Want to read more Gold Report articles like this? Sign up for our free e-newsletter, and you'll learn when new articles have been published. To see a list of recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews page.
1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She owns, or members of her immediate household or family own, shares of the following companies mentioned in this article: None. She is, or members of her immediate household or family are, paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are sponsors of Streetwise Reports: Integra Gold Corp. Streetwise Reports does not accept stock in exchange for its services. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their families are prohibited from making purchases and/or sales of those securities in the open market or otherwise during the up-to-four-week interval from the time of the interview or article until after it publishes.
Disclosures from M Partners, Integra Gold Corp. Research Flash, Jan. 11, 2017
The Research Analyst(s) who prepare this report certify that their respective report accurately reflects his/her personal opinion and that no part of his/her compensation was, is, or will be directly or indirectly related to the specific recommendations or views as to the securities or companies. M Partners compensates its research analysts from a variety of sources and research analysts may or may not receive compensation based upon M Partners investment banking revenue.
1. M Partners or its affiliates collectively beneficially DO NOT own 1% or more of any class of equity securities of the company which is the subject of the research report.
2. The analyst or any associate of the analyst responsible for the report or public comment DO NOT hold shares in the company.
3. M Partners or a director or officer of M Partners or any analyst DID NOT provide services to the company for remuneration other than normal investment advisory or trade execution services within the preceding 12 months, (may seek compensation for investment banking services from the company herein within the next 3 months).
4. Is any director, officer, employee or research analysts an officer, director or employee of the company, or serve in an advisory capacity to the company? NO
5. The analyst has viewed the material operations of the company. We define material operations as an issuer's corporate head office and its main production facility or a satellite facility that is representative of the company's operations.
6. M Partners provided investment banking services for the company during the 12 months preceding the publication of the research report
7. The analyst preparing the report DID NOT receive compensation based upon M Partners investment banking revenues for this issuer.
Disclosures from Macquarie Research, Global Gold Developers & Explorers, 2017, Picking the Winners. Jan. 17, 2017
Analyst certification: We hereby certify that all of the views expressed in this report accurately reflect our personal views about the subject company or companies and its or their securities. We also certify that no part of our compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. The Analysts responsible for preparing this report receive compensation from Macquarie that is based upon various factors including Macquarie Group Ltd total revenues, a portion of which are generated by Macquarie Group’s Investment Banking activities.
Important disclosure information regarding the subject companies covered in this report is available at www.macquarie.com/research/disclosures.
Disclosures from Raymond James, Integra Gold Corp., Jan. 23, 2017
ANALYST INFORMATION: Analyst Compensation: Equity research analysts and associates at Raymond James are compensated on a salary and bonus system. Several factors enter into the compensation determination for an analyst, including i) research quality and overall productivity, including success in rating stocks on an absolute basis and relative to the local exchange composite Index and/or a sector index, ii) recognition from institutional investors, iii) support effectiveness to the institutional and retail sales forces and traders, iv) commissions generated in stocks under coverage that are attributable to the analyst’s efforts, v) net revenues of the overall Equity Capital Markets Group, and vi) compensation levels for analysts at competing investment dealers.
The views expressed in this report accurately reflect the personal views of the analyst(s) covering the subject securities. No part of said person's compensation was, is, or will be directly or indirectly related to the specific recommendations or views contained in this research report. In addition, said analyst has not received compensation from any subject company in the last 12 months.
Raymond James Ltd. or its affiliates expects to receive or intends to seek compensation for investment banking services from all companies under research coverage within the next three months.
Integra Gold Corporation:
--Raymond James Ltd. has managed or co-managed a public offering of securities within the last 12 months with respect to ICG.
--Raymond James Ltd. has provided investment banking services within the last 12 months with respect to ICG.
--Raymond James Ltd. has received compensation for investment banking services within the last 12 months with respect to ICG.