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International Tower Hill Mines Files 2016 First Quarter Financial Results
International Tower Hill Mines Files 2016 First Quarter Financial Results Internat...
About this update from International Tower Hill Mines Ltd.
[{"type":"text","content":"\n\n\n\nInternational Tower Hill Mines Files 2016 First Quarter 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\nInternational Tower Hill Mines Files 2016 First Quarter Financial Results\nCanada NewsWire\nVANCOUVER, May 6, 2016\n\n\n\nVANCOUVER, May 6, 2016 /CNW/ - International Tower Hill Mines Ltd.  (\"ITH\" or the \"Company\") - (TSX: ITH) (NYSE-MKT: THM) today announced that it has filed its unaudited first quarter financial statements and associated management discussion and analysis and quarterly report on Form 10-Q for the three-month period ended March 31, 2016.\n\nThe Company had a cash balance of USD 5.1 million at March 31, 2016, which is sufficient to cover anticipated expenditures through the planned activities of 2016.\n\nAt March 31, 2016, the Company had a working capital deficit of USD 9.9 million compared to working capital of USD 6.2 million, at December 31, 2015.  The negative working capital is mainly the result of the reclassification of the contingent derivative payment, payable on January 12, 2017 and estimated at March 31, 2016 to be USD 14.6 million, to a current liability.  ITH is working to address the derivative payment and believes that they will be successful.  However, there is no assurance that the Company will be able to address the derivative payment on acceptable terms, if at all.  \n\nShareholders can obtain copies of the Company's unaudited first quarter financial statements and associated management discussion and analysis and Form 10-Q on SEDAR at: www.sedar.com, EDGAR at www.sec.gov and on ITH's website at: www.ithmines.com. ITH will also provide hard copies of these documents, free of charge, to shareholders who request a copy directly from the Company.\n\nAbout International Tower Hill Mines Ltd.\n\nInternational Tower Hill Mines Ltd. controls 100% of the Livengood Gold Project that contains 15.7 M oz. of gold (807 MT at 0.61 g/t) measured & indicated and 4.4 M oz. (266 MT at 0.52 g/t) inferred, all at a 0.30 g/t gold cutoff, located along the paved Elliott Highway, 70 miles nor...