Integra Exercises Option To Acquire Strategic Claims At Delamar Project
Portfolio Pulse from Benzinga Newsdesk
Integra Resources Corp. (ITRG) has exercised an option to acquire seventeen unpatented claims in the Rich Gulch area, adjacent to the Florida Mountain Deposit at the DeLamar Project in Idaho. This strategic acquisition, expected to close by March 8, 2024, will provide operational flexibility for future mining and processing scenarios. The purchase will be made through the issuance of common shares, with a minimum of 840,000 shares at a price determined by the five-day VWAP preceding the closing date. The acquisition is a step towards advancing DeLamar towards a construction decision.
February 28, 2024 | 10:06 pm
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Integra Resources Corp. announces strategic acquisition of Rich Gulch claims to enhance the DeLamar Project, with the deal closing by March 8, 2024. The acquisition is financed through the issuance of common shares, with a minimum of 840,000 shares.
The acquisition of the Rich Gulch claims is a strategic move for Integra Resources, indicating potential for operational flexibility and growth at the DeLamar Project. Financing the purchase through the issuance of common shares could dilute current shareholders but also indicates confidence in the project's future value. The strategic nature of this acquisition and its role in advancing the DeLamar Project towards a construction decision are likely to be viewed positively by investors, potentially leading to a short-term positive impact on ITRG's stock price.
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