Integra 2.0 to buy DeLamar mine from Kinross

BEAVER CREEK, Colo. — The executive team behind Integra Gold – a Quebec focused explorer purchased by Eldorado Gold (TSX: ELD; NYSE: EGO) for $590 million in July – intends to acquire Kinross Gold’s (TSX: K; NYSE: KGC) DeLamar gold-silver project in southern Idaho under the newly branded Integra Resources (CSE: ITR). Under the agreement, Integra Resources has offered Kinross $7.5 million in cash, and 9.9% of all issued and outstanding shares once the transaction is closed. The acquisition would give Integra exposure to DeLamar’s former open pit and underground mine, which shuttered in 1998 due to gold prices below US$300 per oz. gold, after producing 1.6 million oz. of gold and 100 million oz. of silver. Continue reading at The Northern Miner.