Welcome to our dedicated page for International Tower Hill Mines, Ltd. news (Ticker: THM), a resource for investors and traders seeking the latest updates and insights on International Tower Hill Mines, Ltd. stock.
International Tower Hill Mines Ltd. (TSX: ITH, NYSE American: THM) is a distinguished mining company dedicated to the acquisition, exploration, and development of mineral properties. Headquartered in Vancouver, the company’s core asset is the world-class Livengood Gold Project, located in the Tolovana mining district, 70 miles north of Fairbanks, Alaska. This project is notable for its substantial resource size, boasting 16.5 million ounces in the measured and indicated categories and an additional 4.1 million ounces in the inferred category. This makes Livengood one of the largest gold deposits discovered globally in the last two decades.
The Livengood Gold Project encompasses land leased from the Alaska Mental Health Trust, private mineral leases, state mining claims, and patented ground controlled by the company. The project is strategically positioned along the paved Elliott Highway, which facilitates easy access and logistics.
The leadership team at International Tower Hill Mines is composed of seasoned professionals with proven track records in major mining operations, hailing from esteemed organizations such as AngloGold Ashanti, Teck Resources, and Kinross. Their expertise in development, permitting, and operational success is driving the project towards becoming Alaska's next major gold mine.
Recent milestones for the company include the filing of its unaudited second quarter Financial Statements and Management Discussion and Analysis for the period ending June 30, 2023. This was followed by the unaudited third quarter reports for the three- and nine-month periods ending September 30, 2023. As of these filings, the company maintained a working capital of USD $3.1 million, underscoring its robust financial health.
Further solidifying its financial position, International Tower Hill Mines completed a non-brokered private placement in January 2024, raising approximately USD $2.5 million from existing major shareholders. This move was designed to minimize shareholder dilution and support the company's general working capital needs.
In March 2024, the company published its audited Year-End Financial Statements and approved the 2024 work program. This program focuses on community engagement and advancing critical environmental data collection to aid future permitting processes. Continuing its commitment to transparency, the company also filed its unaudited first quarter Financial Statements for the period ending March 31, 2024.
At the Annual General and Special Meeting held in May 2024, shareholders demonstrated strong support for the current management and governance structures. Key resolutions, including re-appointment of auditors and approval of executive compensation, were passed with significant majorities.
International Tower Hill Mines Ltd. is well-positioned to leverage the promising fundamentals of the Livengood Gold Project in a favorable gold market, driven by its substantial resource base and strategic land holdings.
Fortress Investment Group has appointed Damola Adamolekun as CEO of RL Investor Holdings , a new entity seeking bankruptcy court approval to acquire the Red Lobster restaurant chain. This acquisition is part of a Chapter 11 plan for Red Lobster, with RL Investor Holdings created by funds managed by Fortress affiliates and co-investors TCW Private Credit and Blue Torch. Upon court approval, Adamolekun will become CEO of the reorganized company, which will continue to operate independently with 544 locations across 44 U.S. states and four Canadian Provinces. Adamolekun aims to reinvigorate the brand by improving employee and guest experiences. Fortress, known for its track record in operating and improving iconic American restaurants, views Adamolekun's leadership as key to restoring Red Lobster's status as an iconic American brand.
International Tower Hill Mines (TSX: ITH) (NYSE American: THM) has filed its unaudited second quarter Financial Statements for the three- and six-month period ended June 30, 2024. The company has also submitted its associated Management Discussion and Analysis and Quarterly Report on Form 10-Q. These documents are now available for shareholders to access on SEDAR+, EDGAR, and the company's website. International Tower Hill Mines is offering to provide hard copies of these documents free of charge to shareholders who directly request them from the company. This filing is a standard quarterly financial reporting practice for publicly traded companies, allowing investors and regulators to review the company's financial performance and position.
International Tower Hill Mines (TSX: ITH, NYSE American: THM) announced the results of its 2024 Annual General and Special Meeting of shareholders held on May 29, 2024, in Vancouver, B.C. Six directors were elected with significant majorities: Anton Drescher (89.24%), Karl Hanneman (99.55%), Stuart Harshaw (80.97%), Marcelo Kim (99.49%), Edel Tully (99.16%), and Thomas Weng (99.24%).
The current auditors, Davidson & Company, were re-appointed for the fiscal year ending December 31, 2024. Shareholders also approved executive compensation (98.90%) and re-approved both the 2017 Deferred Share Unit Incentive Plan (99.08%) and the 2006 Incentive Stock Options Plan (89.40%). Detailed proxy voting results will be available on SEDAR+ and the company’s website.
International Tower Hill Mines announced the filing of its unaudited first quarter financial results for the period ended March 31, 2024. Shareholders can access the documents on SEDAR, EDGAR, and the company's website. Hard copies are available upon request.
FAQ
What is the current stock price of International Tower Hill Mines, Ltd. (THM)?
What is the market cap of International Tower Hill Mines, Ltd. (THM)?
What is the core business of International Tower Hill Mines Ltd.?
Where is the Livengood Gold Project located?
How large is the gold resource at the Livengood Gold Project?
Who are the key members of the management team?
What recent financial achievements has the company reported?
What are the future plans for the Livengood Gold Project?
How many common shares are currently outstanding?
How can shareholders obtain financial reports and other documents?
What were the outcomes of the 2024 Annual General and Special Meeting?
What is the company's approach to shareholder value?
