Integra Resources Secures Future of DeLamar with Wheaton Precious Metals Royalty Agreement
It’s not every day that a mining venture in southwestern Idaho becomes a beacon of hope for an entire community and a significant point of interest for global investors. Yet, this is precisely the story unfolding with Integra Resources Corp.’s DeLamar Project, following a landmark royalty agreement with Wheaton Precious Metals. This deal not only underscores the project’s potential but also sets a new course for its future development.
A Partnership Carved in Metal
In a move that has sparked interest across the mining industry, Integra Resources Corp., through its subsidiary DeLamar Mining Company, has entered into a Royalty Agreement with Wheaton Precious Metals (Cayman) Co. This agreement sees Wheaton acquiring a 1.5% net smelter returns royalty on all metal production from the DeLamar and Florida Mountain Deposit, for an aggregate purchase price, payable in two instalments. The significance of this transaction cannot be overstated. It not only provides a substantial financial injection for Integra, enabling the continuation of the DeLamar Project’s development, including crucial feasibility studies and the NEPA permitting process in the U.S., but also represents a strong vote of confidence in the project’s value and potential by one of the industry’s leading names.
Fueling the Future
The proceeds from this transaction are earmarked for a very specific purpose: propelling the DeLamar Project towards production. With Auramet International Inc. advising Integra on the transaction, and an amendment to a credit agreement with Beedie Investments Ltd. giving the green light, all signs point to a well-orchestrated strategy aimed at realizing the project’s full potential. The DeLamar Project, acquired by Integra in 2017, has since demonstrated significant resource growth and robust economic studies, supported by an independent technical report available under Integra’s SEDAR+ profile. This project stands as a testament to the company’s commitment to advancing low-cost operation in a prolific mining jurisdiction.
A Story of Endurance and Promise
The journey of the DeLamar Project, from its acquisition to this transformative agreement, speaks volumes about the resilience and forward-thinking of Integra Resources Corp. The project’s significant resource growth and the positive outcomes of economic studies underscore its viability and the potential for substantial returns on investment. Moreover, the strategic partnership with Wheaton Precious Metals, involving an upfront financial commitment, is a bold statement of belief in DeLamar’s future success. This narrative is not just about the nuts and bolts of mining operations; it’s about pioneering spirit, community impact, and the promise of sustainable development in southwestern Idaho.
As Integra Resources Corp. embarks on this new chapter, the company remains focused on the horizon, with the wind of a groundbreaking deal at its back. The DeLamar Project, bolstered by the partnership with Wheaton Precious Metals and the continued support from Beedie Investments Ltd., is on a steadfast path towards becoming a cornerstone of the mining industry in Idaho. This story, rich with determination, strategic partnerships, and a clear vision for the future, is far from over. It’s a narrative that continues to unfold, inviting onlookers, investors, and community members alike to watch as DeLamar moves closer to realizing its full potential.
