Integra Gold takes a page from the McEwen Goldcorp playbook

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This Morning INK report was orignally published for INK Research subscribers on Oct. 6. The stock has subsequently rallied about 10%. The INK Edge outlooks for Integra Gold and Eldorado Gold have been updated as of Oct 13.

October 6, 2015 - Today we visit Integra Gold (ICG) which is striving to advance its Lamaque project in the Quebec Val d'Or gold district. Within Lamaque South, the most recent resource estimate reports 811,010 ounces at a 9.5 g/t grade in the indicated category and 276,030 ounces inferred at a 10.9 g/t grade. An update is expected by year end. Within North Project (Sigma-Lamaque), the company's latest available resource estimate has 586,000 ounces in the indicated category, and 1,853,000 ounces inferred at 1 g/t cut-off.

As part of its strategy to expand the potential of Sigma-Lamaque, the company has taken a page out of Rob McEwen's playbook. When he was CEO at Goldcorp in the early days of the internet he opened up Red Lake mining data to the public to help find an economically viable deposit. The gamble paid off with Red Lake subsequently entering into production. While we are not sure if his success has since been replicated, Integra is giving it a try.

In the summer Integra got a shot in the arm when Eldorado Gold (INK Edge outlook: cloudy; ELD) backed the company with a $14.6-million private placement. The senior global gold producer now holds 14.9% of the firm according to INK data. While that is encouraging, it is company insiders putting down their own cash that caught our attention.

Over the last 6 months, 5 insiders at Integra Gold have spent a total of $205,688 buying shares in the public market. The most recent purchase took place on October when Director George Salamis bought 41,500 shares at 28 cents.

Integra Gold currently holds a sunny INK Edge outlook on the equally weighted V.I.P. criteria of valuations, insider commitment and price momentum which places it in the top 30% of all stocks ranked. INK outlook categories are designed to identify groups of stocks that have the potential to out- or under-perform the market. However, any individual stock could surprise on the up or downside. As such, outlook categories are not meant to be stock-specific recommendations.

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