Integra Mining (ASX: IGR) transitioned from gold explorer to producer in September 2010 after pouring first gold from its flagship Randalls Gold Project.
The company has steadily built up its mineral portfolio through a series of acquisitions, joint ventures and strategic alliances, and now controls a consolidated tenement package of approximately 1,500km2 in the heart of the Eastern Goldfields of Western Australia.
Integra Mining Limited (ASX:IGR) has completed major works related to its Randalls Gold Project, one of only two integrated mining and production gold mine developments in a decade. Randalls Gold Project is intended to have base case production or 75,000 ounces per year.
At current gold prices, the project will generate approximately $50 million of operating profit per year, rivalling or exceeding the profitability of any other domestic Australian gold miner with the exception of Newcrest Mining Limited.
Randalls Gold Project is envisioned to be operational in September 2010, and Integra has allowed excess funding to accelerate early evaluation of underground mining at Maxwells, Santa and Cock-Eyed Bob gold deposits with a target of increasing project gold production to approximately 100,000 ounces per annum without a processing facility expansion.
A further expansion of capacity to 140,000 ounces with a processing facility upgrade to 1.2 million tons per year is also planned.
Integra has appointed Alliance Contracting as the preferred mining contractor for open pit mining. Integra has already made full payment to Western Power for construction of a mains power line to the Salt Creek process facility.