International Tower Hill Mines Says Will be Able to Cut Costs on Livengood Gold Project After Study (NYSEMKT:THM)


International Tower Hill Mines Ltd (NYSEMKT:THM) said Friday that a pre-feasibility study of its Livengood Gold Project near Fairbanks, Alaska, shows the capital costs can be reduced by 34% to $950 million to $1.84 billion and the process operating costs can be reduced by 28% to $2.97 per ton to $7.48 per ton. “We are pleased that our optimization study has resulted in lower CAPEX and OPEX costs projected over a 23 year mine life,” CEO Tom Irwin said in a statement. “Livengood’s fundamentals are compelling, with a substantial gold resource, favorable jurisdiction, proximity to infrastructure and great leverage to the gold price.”

The stock decreased 3.47% or $0.03 on September 13, hitting $0.83. About 191,777 shares traded hands. International Tower Hill Mines Ltd (NYSEMKT:THM) has risen 207.14% since February 8, 2016 and is uptrending. It has outperformed by 190.65% the S&P500.

International Tower Hill Mines a mineral exploration company. The company has a market cap of $97.26 million. The Firm is in the business of acquiring, exploring and evaluating mineral properties, and either joint venturing or developing these properties further or disposing of them when the evaluation is completed. It currently has negative earnings. It operates through the exploration and development of mineral properties segment.

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