Business
International Tower Hill Mines Files 2014 Second Quarter Financial Results
VANCOUVER , Aug. 7, 2014 /CNW/ - International Tower Hill Mines Ltd.  ("ITH" or...
About this update from International Tower Hill Mines Ltd.
[{"type":"text","content":"\n\nVANCOUVER, Aug. 7, 2014 /CNW/ - International Tower Hill Mines Ltd.  (\"ITH\" or the \"Company\") - (TSX: ITH) (NYSE-MKT: THM) today announced that it has filed its unaudited second quarter financial statements and associated management discussion and analysis and Quarterly Report on Form 10-Q for the three and six-month periods ended June 30, 2014.\n\nThe Company's working capital as of June 30, 2014 was USD9.2 million, which is expected to allow ITH to advance the Livengood Gold Project well into 2015.\n\n\"We are proceeding with an evaluation of the capital and operating costs as we optimize the Project.  With its excellent fundamentals and strong leverage to gold price, ITH remains a credible investment opportunity.\" said Tom Irwin, CEO.\n\nITH continues to investigate a number of opportunities, including those identified in the September 4, 2013 Feasibility Study and those subsequently developed by the Company, for optimization and reduction of project costs.  The mine plan was reviewed and modified to include changing pit slope designs, improvement of scheduling ore release, waste mining and stockpile management.  The Feasibility Study metallurgical test work was reviewed to identify opportunities for optimization that may be confirmed by additional test work to be contemplated in the future.  Power supply alternatives were reviewed to determine how changing energy supply dynamics might impact the project assumptions regarding electrical generation.   Construction and operations camp alternatives were reviewed to better define the costs of supporting the manpower requirements for the project.  Environmental baseline efforts are continuing in order to prevent any significant delays in future permitting\n\nThe Company remains open to a strategic alliance to help support the future development of the Project, while considering all other appropriate financing options.  The size of the gold resource, the favorable location, and the proven team are some of the reasons the Company would potentially attract a strategic partner with a long term development horizon who understands the Project is highly leveraged to gold prices.  \n\nShareholders  can  obtain  copies  of  these  documents  on  SEDAR  at:  www.sedar.com, ...