Integra Resources (ITR.V, ITRG) has confirmed it received the final tranche of the cash payment from Wheaton Precious Metals (WPM, WPM.TO) as part of the deal to sell a 1.5% Net Smelter Royalty on the metal production from the DeLamar and Florid Mountain deposits. The total proceeds of the royalty sale were US$9.75M which works out to approximately C$13M.
The cash proceeds will be used to further advance the project towards a construction decision. At the end of the first quarter, Integra Resources had a positive working capital position of US$7.2M, including almost US$17M in cash. The incoming Wheaton cash will help to keep the balance sheet in a robust position although the recent US$4.875M cash payment happened subsequent to the end of the second quarter which means it will only be reflected in the Q3 financial statements.
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