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Integra Mining's one day 10% share spike raises ASX eyebrows

Integra Mining (ASX: IGR) has been well supported by the market this week, with a 10% share price spike to $0.595 yesterday (Thursday 16 November) from $0.54 a day earlier - and therefore coming on to the ASX radar.

Integra received a price and volume speeding ticket from the exchange, to which the company replied that it is not aware of any material information that has not been disclosed to the market which may explain the sudden investor interest.

In the response Integra did state:

'However, the company would like to bring to the attention of the ASX recent broker's reports with materially higher price targets for the company's securities.'

Integra milestones

In the past couple of months Integra has met some significant milestones including record gold production from Randalls and becoming one of the lowest cost gold producers in Australia.

In August, the first month of production since a process plant upgrade at Randalls, Integra exceeded expectations by producing 8,873 gold ounces, which annually equates to over 106,000 ounces.

The company continues to ramp-up production at the project since pouring the first gold bar over a year ago in September 2010.

With cash costs for gold production just $505 per ounce (excluding royalties) in the September quarter at Randalls, Integra reaped a quarterly cash profit of $19.9 million.