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International Tower Hill Mines Announces 2020 Work Program And Files 2019 Year-End Financial Results
International Tower Hill Mines Announces 2020 Work Program And Files 2019 Year-End Financi...
About this update from International Tower Hill Mines Ltd.
[{"type":"text","content":"\n\n\n\nInternational Tower Hill Mines Announces 2020 Work Program And Files 2019 Year-End Financial Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, March 10, 2020\n\n\n\nVANCOUVER, March 10, 2020 /CNW/ - International Tower Hill Mines Ltd. (the \"Company\") - (TSX: ITH) (NYSE American: THM) today announced that the 2020 budget of $2.6 million has been approved by the Board. The work program includes completion of the final stages of the Phase 12 metallurgical program at SGS in Vancouver, B.C. The engineering firm of BBA Inc. has been retained to continue to guide the metallurgical program, with the goal of optimizing and defining the Project flowsheet. Work is also planned to advance environmental baseline efforts needed to support future permitting, as well as to continue community engagement.\n\"The recent gold market strength provides an encouraging environment for our Company as we continue work to establish the best foundation to support future development,\" said Karl Hanneman, CEO. \"The 11.5 million ounce gold resource at the Livengood Gold Project is in a premier jurisdiction and the project is highly leveraged to the gold price. For example, if we assume 6.8 million ounce production over 23 years, every $100/ounce increase in the gold price would increase project revenue NPV@5% basis by approximately $428 million, or approximately $2.25 per current share.\"\nThe Company also today announced that it has filed its audited Year-End Financial Statements and associated Management Discussion and Analysis (MD&A) on Form 10-K for the year ended December 31, 2019. As of December 31, 2019, the Company had working capital of $6.8 million.\nShareholders can obtain copies of the Company's audited Year-End Financial Statements and associated MD&A and Form 10-K on SEDAR at: www.sedar.com, EDGAR at www.sec.gov and on the Company's website at: www.ithmines.com. The Company will also provide hard copies of these documents, free of charge, to shareholders who request a copy directly from the Company.\nAbout International Tower H...