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Integra Mining: Baker Steel increases stake to 6.1%

Integra Mining (ASX: IGR) substantial shareholder Baker Steel Capital Managers LLP has increased its stake in Integra to 6.1% from 5.4%.

Baker Steel boosted its interest by acquiring 10,487,000 shares in the company with on-market trades and a placement between February 21 and September 8 and now holds 51,173,000 shares.

The company is continuing to progress the Randalls Gold Project in Western Australia - and just last month boosted the Reserves 94% to 480,000 gold ounces.

The financial year 2012 forecast cash cost of production is just A$550 per ounce, and with the Australian value of a gold ounce increasing, the economics at the project are improving further.