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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.
International Tower Hill Mines Ltd. (THM) announced positive results for its Livengood Gold Project following a Pre-Feasibility Study (PFS), which indicates an impressive 13.6 million ounces of gold resources, making it the largest independent gold-only resource in North America. The project is projected to produce 306,200 ounces of gold per year over a 21-year mine life, significantly de-risking the venture. The PFS estimates capital costs at US$1.93 billion and operating costs at US$1,171 per ounce, with an after-tax NPV ranging from US$400 million to US$2.3 billion based on gold prices.
International Tower Hill Mines Ltd. (TSX: ITH, NYSE American: THM) has filed its unaudited second quarter Financial Statements and Management Discussion and Analysis for the period ended June 30, 2021. As of the same date, the company has a working capital of US$10.2 million. Shareholders can access the reports on SEDAR, EDGAR, and the company's website. The firm holds a 100% interest in the Livengood Gold Project located in Alaska.
International Tower Hill Mines Ltd. (THM) held its Annual General and Special Meeting on May 25, 2021, in Fairbanks, Alaska. Shareholders elected directors, including Anton Drescher and Karl Hanneman, with significant support (99.78% for Hanneman). They re-appointed Davidson & Company LLP as auditors for 2021 and approved amendments to the Company's Articles. Additionally, shareholders endorsed executive compensation with 91.52% approval. The detailed voting results will be available on SEDAR and the Company’s website.
International Tower Hill Mines Ltd. (THM) announced its unaudited financial results for the first quarter of 2021, ending March 31. The company reported a working capital of US$11.7 million. Shareholders can access the financial statements and management discussion on SEDAR, EDGAR, and the company's website. The company holds a 100% interest in the Livengood Gold Project located near Fairbanks, Alaska.
International Tower Hill Mines Ltd. (THM) has filed its audited Year-End Financial Statements for the year ended December 31, 2020, reporting working capital of US$12.7 million. The company set a 2021 budget of $5.6 million, focusing on an updated Pre-Feasibility Study for the Livengood Gold Project, scheduled for release in October 2021. Shareholders can access the documents via SEDAR and EDGAR or request hard copies directly.
International Tower Hill Mines Ltd. (THM) announced its 2021 budget of US$5.6 million to advance the Livengood Gold Project. The focus is on completing the Pre-Feasibility Study (PFS) by October 2021, initiated in July 2020, with consultancy from BBA, Inc. and specialized support from various firms. Following a US$10.3 million financing from an At-The-Market offering, the company holds a working capital of US$13.1 million as of September 30, 2020. CEO Karl Hanneman emphasized the strong motivation to leverage the 11.5 million-ounce gold resource as the market remains robust.
International Tower Hill Mines Ltd. (THM) has successfully raised US $10.3 million through its At-The-Market offering with B. Riley Securities. The company issued 7,334,513 common shares at an average price of $1.40 each. Proceeds will be allocated towards working capital, the completion of the Pre-Feasibility Study for the Livengood Gold Project, and environmental studies. The successful financing secures sufficient funding to advance the project optimally. Following the offering, the total shares outstanding are 194,908,184.
International Tower Hill Mines Ltd. (THM) announced a webinar on September 9, 2020, to discuss significant shareholder participation in an At-The-Market (ATM) financing of $10.3 million. Major shareholders contributed $7.9 million at a share price of $1.40. CEO Karl Hanneman emphasized that this funding secures capital for the Pre-Feasibility Study (PFS) of the Livengood Gold Project in Alaska, enhancing market exposure by partnering with B. Riley while minimizing shareholder dilution.
International Tower Hill Mines Ltd. announced a successful US $10.3 million At-The-Market offering, issuing 5,670,997 common shares at $1.40 each, garnering US $7.9 million in proceeds. Major shareholders, including Paulson & Co. and Sprott Asset Management, participated in the offering. Following this transaction, Paulson will hold 31.8% of shares, Sprott 15.1%, and Electrum 14.2%. The company plans to raise an additional US $2.4 million to support its Livengood Gold Project.
International Tower Hill Mines Ltd. has filed its unaudited second quarter Financial Statements for the period ending June 30, 2020. As of this date, the company reported a working capital of $5.4 million. These documents, including the Management Discussion and Analysis and Form 10-Q, are available on SEDAR, EDGAR, and the company’s website. Shareholders may request free hard copies directly from the company.
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