ITH - Intl. Tower Hill Mines - WKN A1C4CG

August 23, 2011 08:30 ET
International Tower Hill Announces Surface Mine Measured & Indicated Resource Expansion to 16.5 Moz Contained Gold and Robust Preliminary Economic Assessment at the Livengood Project, Alaska

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 23, 2011) - International Tower Hill Mines Ltd. ("ITH" or the "Company") - (TSX:ITH)(NYSE Amex:THM)(FRANKFURT:IW9) announces the results of an updated preliminary economic assessment (PEA) demonstrating robust project economics for the Company's 100% owned Livengood Gold Project located near Fairbanks, Alaska. The PEA results (all USD) demonstrate project financial highlights of $3.1 billion pre-tax cash flows and a $1.2 billion Net Present Value (NPV) at a 5% discount rate at a Base Case gold price of $1,100/oz. In addition, an updated resource estimate has significantly expanded the surface mine mineralization to 16.5 million ounces gold contained in the Measured & Indicated categories and 4.1 million ounces gold contained in the Inferred resource category.Highlights of the Updated Resource Estimate & PEA

Processing rate of 91,000 tonnes per day with average annual production over the first five years of 664,000 ounces of gold and 562,000 ounces gold over a Life of Mine of 23 years, making it potentially one of the largest single gold mines in North America.Cumulative pre-tax cash flows of $3.1 billion, NPV of $1.2 billion (at a 5% discount rate), Internal Rate of Return of 14.1% and a payback period of 4.9 years using a Base Case gold price of $1,100 per ounce.
An estimated initial capital cost of $1.61 billion, including $323 million in contingency and owner's costs. Average cash cost of $557 per ounce over the first five years of production and an average Life-of-Mine cash cost of $703 per ounce.
The current surface mine resource is largely constrained by existing drilling (un-estimated blocks due to lack of data) indicating longer term expansion potential as continuing exploration expands the drill grid.

James Komadina, Chief Executive Officer of ITH, stated: "The release of these positive PEA numbers confirms our long-standing belief that Livengood is truly a world-class deposit representing one of the largest new gold discoveries made in recent times. With sound project economics and tremendous leverage to current commodity prices, the timely development of the Livengood deposit will create significant value for our shareholders and provide well-paying jobs for generations of Alaskans."

The updated NI 43-101-compliant PEA was prepared by ITH staff and independent third party consultants and provides new information on the project scope, resource model and operating cost estimates as compared with the original PEA announced in news on August 3, 2010. The final version of the NI 43-101 technical report containing the PEA will be filed on SEDAR on August 29, 2011 and investors are urged to review the Report in its entirety.

The Company cautions that this PEA is preliminary in nature, and is based on technical and economic assumptions which will be evaluated in the Pre-feasibility Study. The PEA is based on the Livengood in-situ resource model (effective as at May 31, 2011) which consists of material in both the measured/indicated and inferred classifications. Inferred mineral resources are considered too speculative geologically to have technical and economic considerations applied to them. The current basis of project information is not sufficient to convert the in-situ mineral resources to mineral reserves, and mineral resources that are not mineral reserves do not have demonstrated economic viability. Accordingly, there can be no certainty that the results estimated in this PEA will be realized.


http://www.marketwire.com/press-release/international-tower-hill-announces-surface-mine-measured-indicated-resource-expansion-tsx-ith-1552538.htm
 
http://discovermining.com//international-tower-hill-announces-surface-mine-measured-indicated-resource-expansion-to-165-moz-contained-gold.aspx?utm_source=StockHouse&utm_medium=news&utm_content=ITH&utm_campaign=breaking%2Bnews
 
International Tower Hill Mines Appoints Tom Yip as its New Chief Financial Officer <ITH.TO>

Marketwire

International Tower Hill Mines Ltd.

August 24, 2011 - 09:30:00 AM

International Tower Hill Mines Appoints Tom Yip as its New Chief Financial
Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 24, 2011) - International
Tower Hill Mines Ltd. ("ITH" or the "Company") - (TSX:ITH)(NYSE
Amex:THM)(FRANKFURT:IW9) announces the appointment of Mr. Tom S. Q. Yip as the
Company's new Chief Financial Officer, effective September 7, 2011. Mr. Yip
has over 25 years of experience in all aspects of financial management
including strategic planning, mergers and acquisitions, treasury and capital
structure, reporting and risk management with both private and publicly traded
resource companies.

Most recently, Mr. Yip served as the Chief Financial Officer for Silver
Standard Resources Inc., a Canadian mining company with a substantial
portfolio of silver properties in the Americas.Since 2007, he was a key member
of the leadership team to transition from an exploration and development
company to a producer. Prior to that, he served as the Chief Financial Officer
for Asarco, LLC, a copper mining, smelting and refining company, from 2006 to
2007. He began his career in the mining industry with Echo Bay Mines Ltd.,
where he worked for 20 years holding various financial roles of increasing
responsibility, including Principal Accounting Officer and then Chief
Financial Officer, before the company merged with Kinross Gold Corporation in
2003. Mr. Yip is a Chartered Accountant and holds a Bachelor of Commerce
degree in Business Administration from the University of Alberta.

"I am very pleased to welcome Tom to the executive team," stated James
Komadina, Chief Executive Officer of ITH. "His diverse and extensive
experience in financial management with major global mining and resource
companies will further strengthen our team as we advance the Livengood project
through development into a major new gold mine in North America."

Mr. Yip will succeed Michael Kinley, CA, who will remain with the Company as a
consultant through a transition period before leaving to pursue other
opportunities. The Company would like to take this opportunity to thank Mr.
Kinley for his many contributions to the growth of the Company since 2006 and
to wish him success in his future endeavours.

Grant of Incentive Stock Options

The Company also announces that, pursuant to its 2006 Incentive Stock Option
Plan, it has granted Mr. Yip incentive stock options to purchase 650,000
common shares in the capital stock of the Company. The options are exercisable
on or before August 24, 2016 at a price of CAD 8.07 per share and will vest as
to one-third on August 23, 2011, as to one third on August 23, 2012 and as to
the balance on August 23, 2013.

About International Tower Hill Mines Ltd.

International Tower Hill Mines Ltd. controls a 100% interest in the
world-class Livengood Gold Project accessible by paved highway 70 miles north
of Fairbanks, Alaska. In 2011 ITH is focused on the rapid advancement of the
Livengood project into a compelling potential development scenario while it
continues to expand its current resource and explore its 145 km2 district for
new deposits.

On behalf of International Tower Hill Mines Ltd.

James J. Komadina, Chief Executive Officer
 
International Tower Hill goes bigger, drops gold heap leach at Livengood

Livengood, a 16.5 million ounce gold deposit in Alaska, gets a second look as a mining project under International Tower Hill Mines' newish-president and CEO James Komadina.
Author: Kip Keen
Posted: Friday , 26 Aug 2011

HALIFAX, NS -

It's no simple tweak. In a new scoping study updating one released last year, International Tower Hill Mines (TSX: ITH) has made major revisions to how it would mine the Livengood gold deposit in Alaska, which so far contains 16.5 million ounces gold in the measured and indicated categories.

There's more gold, more mine-life, more cash costs, and, most significantly, no more heap-leach option.

Shirley Zhou, International Tower Hill's vice president of corporate communications, chalks up the larger, more definitive, gold project without heap-leaching to the company's new CEO, James Komadina, the former president and CEO of AngloGold's North American division who is a metallurgical engineer by training.

One reason behind the move is processing performance. Livengood is a stone's throw from Kinross Gold's Fort Knox mine, which uses both heap leaching and milling. Having watched Kinross's experience there closely, Zhou says, International Tower Hill has noted "the heap leach can get really cold in winter."

That can affect gold recovery. In its studies International Tower Hill, for example, has found heap leaching gets about 70 percent recovery versus 80 to 90 percent with milling.

That trade-off made sense when International Tower Hill planned on starting the Livengood project with a series of high-grade starter pits. But with gold prices significantly higher now, and with more extensive resources to work from, International Tower Hill looks to be subscribing to the mantra "go big or go home." The focus is on a large efficient mill that can capture more gold from lower grade ore.

"Now we're going in and scooping up as much ore as possible," Zhou says.

In a combined heap leach and milling scenario outlined last year Livengood would have produced 833,000 ounces gold a year over a 12.6-year mine life. Now International Tower Hill estimates it could produce 562,000 ounces gold a year over a 23-year mine life. All told that's nearly three million ounces more gold over the life of mine at Livengood.

Cash costs per ounce gold, however, have gone up. The 2010 scoping study pegged operating cash costs at $534 per ounce gold while the new scoping study pegs them at $703 per ounce in a base case scenario, an escalation which reflects inputs that have become more expensive over the past year and milling of more but lower grade ore.

In the latter sense, the higher cash costs amounts to a gamble on possible payback from processing more of that lower grade ore. International Tower Hill used a 0.3 g/t gold cut-off last year, but a 0.22 g/t gold cut-off this time round. The bet is that, even if gold ounces cost more to make, it will be worth selling more of it at higher prices.

Another underlying reason to drop the heap leach option appears to be motivated by political and regulatory considerations. Zhou acknowledges that heap leach operations can be harder to permit. They can also be awkward to move forward with a public fearful of cyanide dripping onto pads of exposed ore. "With heap leach there would be additional environmental concerns," Zhou says. Dropping it removes those potential concerns she says.
 
26. August 2011 · 10:02 am
&#8595; Jump to Comments
Umbruch: International Tower Hill will mit neuer Methode 3 Mio. Unzen Gold mehr produzieren
International Tower Hill will mehr produzieren

International Tower Hill will mehr produzieren

Es ist nicht nur eine einfache Veränderung. In einer neuen Studie zur vorläufigen Bewertung der Wirtschaftlichkeit der Goldlagerstätte Livengood hat die kanadische International Tower Hill Mines (WKN A1C4CG) umfassende Änderungen an der Art und Weise vorgenommen, wie man die Lagerstätte abbauen will. Diese enthält bislang 16,5 Mio. Unzen Gold in den Kategorien gemessen und angezeigt.

Die neue Studie veranschlagt mehr Gold, ein längeres Minenleben, höhere Cashkosten und – am wichtigsten – keine Haufenlaugung mehr. Shirley Zhou, International Tower Hill Vice President of Corporate Communications, schreibt die größere, besser definierte Ressource ohne Haufenlaugung dem neuen CEO des Unternehmens, James Komadina, zu. Komadina war zuletzt Leiter der Nordamerikaabteilung des Minengiganten AngloGold und er ist ausgebildeter Metallurgieingenieur.

Ein Grund hinter diesem Schritt ist die Verarbeitungsleistung. Livengood liegt in unmittelbarer Nähe zu Kinross Golds Fort Knox-Mine, die sowohl Haufenlaugung als auch eine Mühle nutzt. Nachdem man genau beobachtet habe, welche Erfahrungen Kinross machte, so Zou, sei International Tower Hill aufgefallen, dass der Laugungshaufen im Winter sehr kalt werden könne. Und das kann die Goldgewinnung negativ beeinträchtigen. In den bisher vollendeten Studien hat International Tower Hill beispielsweise festgestellt, dass mit Haufenlaugung nur eine Gewinnungsrate von rund 70% zu erzielen ist, während es bei Einsatz einer Mühle 80 bis 90% wären.

Als International Tower Hill noch plante, auf Livengood mit einer Reihe von hochgradigen Tagebaugruben zu beginnen, erschien es sinnvoll dies zu Gunsten niedrigerer Kosten hinzunehmen. Doch jetzt, wo der Goldpreis erheblich höher notiert, hat sich das Unternehmen der Mantra „ go big or go home“ verschrieben. Der Fokus liegt nun auf einer großen effizienten Mine, die mehr Gold auch aus Erzen mit niedrigerem Goldgehalt gewinnen kann.

Mit der Kombination aus Haufenlaugung und Mühle, die im vergangenen Jahr angedacht war, hätte Livengood 833.000 Unzen Gold pro Jahr über ein Minenleben von 12,6 Jahren produziert. Jetzt schätzt International Tower Hill, dass man 562.000 Unzen Gold pro Jahr über 23 Jahre Minenleben produzieren könnte. Insgesamt sind das fast 3 Mio. Unzen Gold mehr.

Auf der anderen Seite steigen die Cashkosten pro Unze deutlich. Wurden in der alten Scoping-Studie noch 534 USD pro Unze Gold veranschlagt, geht die neue Studie von 703 USD aus. Dies ist auf gestiegene Kosten bei der Produktion aber auch auf die Verarbeitung von mehr Erz mit niedrigen Goldgehalten zurückzuführen.

Das bedeutet, dass die höheren Cashkosten eine Wette darauf sind, dass es sich lohnt mehr von diesem Erz mit den niedrigen Gehalten zu verarbeiten. International Tower Hill setzt darauf, dass es zwar so teurer ist die Unzen zu produzieren, es das bei dem hohen Goldpreis aber Wert ist, zu dem man sie verkaufen kann.

Ein weiterer Grund für die Abkehr von der Haufenlaugung scheinen politische und regulatorische Bedenken zu sein. Zhou gesteht ein, dass es schwieriger sein kann, Laugungsprozesses genehmigt zu bekommen. Zudem ist oft die Öffentlichkeit sehr besorgt, dass das verwendete Zyanid Schäden an der Umwelt hinterlassen könnte. Diesen Problemen geht man nun ebenfalls aus dem Weg.
 
August 29, 2011 16:30 ET
International Tower Hill Mines Files 2011 Audited Annual Financial Statements and NI 43-101 Technical Report

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 29, 2011) - International Tower Hill Mines Ltd. ("ITH" or the "Company") (TSX:ITH)(NYSE Amex:THM)(FRANKFURT:IW9) announces that it has filed its audited financial statements, associated management discussion and analysis, Annual Information Form and Annual Report on Form 40F for the year ended May 31, 2011 on August 29, 2011. The Company has also filed a National Instrument 43-101 Report dated August 26, 2011 containing its latest Preliminary Economic Assessment (PEA) and Resource Estimate on SEDAR. All of these documents will be available for viewing on SEDAR and EDGAR on Tuesday, August 30, 2011.

Clarification on August 23, 2011 News Release

The Company also wishes to clarify capital expenditure figures included in press release NR11-14 dated August 23, 2011. An updated PEA completed on the Company's Livengood Gold Project has estimated an initial capital cost of $1.61 Billion, which includes $323 Million in contingency but does not include sustaining capital costs estimated to be $585 Million. The Life of Mine capital expenditures for the Livengood project is therefore estimated to be $2.19 Billion over a 23-year mine life (see Table 1 below). All other figures were highlighted in the news release and the full PEA report will be available for viewing on the SEDAR website on Tuesday, August 30, 2011.

Table 1: Expected Capital Costs

Items Capital Costs (millions)
Mining $ 271.4
Processing Plant $ 499.8
Infrastructure and Tailing Management $ 203.9
Other (Owners' cost, EPCM, Indirect costs etc.) $ 315.9
Contingency $ 323.0
Total Initial CAPEX $ 1,613.8
Sustaining Capital (over 23 years) $ 585
Total Life of Mine CAPEX $ 2,198.8
 
Credit Suisse cuts International Tower Hill Mines to neutral

Aug 30 (Reuters) - International Tower Hill Mines Ltd <ITH.TO>:
* Credit Suisse cuts International Tower Hill Mines Ltd <ITH.TO> to neutral
from outperform

For a summary of rating and price target changes on U.S. companies:
Reuters Eikon users, click on [RCH/US]
Reuters 3000Xtra users, double-click [RCH/US]
Reuters Station users, click .1568

For a summary of rating and price target changes on Canadian companies:
Reuters Eikon users, click on [RCH/CA]
Reuters 3000Xtra users, double-click [RCH/CA]
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International Tower Hill receives upgraded price target from Macquarie
Mon 11:30 am by Deborah SterescuInternational Tower Hill Mines (TSE:ITH) (NYSE-A:THM) received bullish outlooks from analysts at the end of last week, on the back of an updated preliminary economic assessment (PEA) for its Livengood gold project near Fairbanks, Alaska - released last Tuesday.

The latest economic report for the project estimated a base case net present value of a whopping $1.2 billion, alongside a significantly expanded surface mine resource, increasing the mining company's potential to become a solid gold producer in North America.

Indeed, Macquarie Equities Research maintained its sector "outperform" rating for International Tower Hill and upgraded its price target to $13.5, up from the company's last $7.74 trading price on TSX Venture Exchange. Meanwhile, research peer Dahlman Rose & Co. issued a report noting the positive development of the PEA and said it is currently in the process of updating its figures to incorporate the new guidance.

The latest study evaluated a large, mill-only scenario operating at 91,000 tonnes per day, eliminating the heap leach option and requiring initial capital of US$1.6 billion, including contingency costs.

The elimination of the heap leach option is seen as "de-risking" the project for Macquarie, as there were potential recovery issues for such large operations in climates similar to Alaska, the firm noted.

Average gold production from Livengood was forecast at 664,000 ounces per year, at a cash operating cost of US$557 per ounce in the first five years of production.

Over the 23-year life of the operation, gold production per year was estimated at 562,000 ounces, making it potentially one of the largest single gold mines in North America. This compares with the last PEA in August 2010, which estimated average annual production of 504,000 recovered ounces of gold over 21 years.

Cash flows from the updated mine model, on a pre-tax basis, were calculated at $3.1 billion, lending to a net present value of $1.2 billion, at a 5% discount rate, and a 14.1% internal rate of return, with a payback period of 4.9 years. The base case scenario, which also yielded a life-of-mine cash cost of $703 per ounce of gold, assumed a gold price of $1,100 per ounce.

Using the recent sky-high prices of gold at $1,700 per ounce, cash flows jump to more than $10.6 billion, while net present value, at the same 5% discount rate, climbs to $5.1 billion.

Aside from the robust economics, Macquarie noted that International Tower Hill also expanded its resource to over 20 million ounces of gold, converting 18% of the previous indicated resource to the measured category, with only a minor impact on grades and overall tonnage, said the research firm. At a 0.3 grams per tonne (g/t) cut-off, measured, indicated and inferred resources total 20.2 million ounces.

The latest estimate is limited by existing drilling, the company said, indicating longer-term expansion potential as ongoing drilling extends the grid.

"The PEA has provided improved visibility into the economic assumptions related to the milling only scenario and the development path ITH is clearly focused on," explained Macquarie.

"Costs and capital expenditures were generally in line with our assumptions, which is a critical factor considering the low grade nature of the deposit."

Ongoing metallurgical studies will be focused on optimizing various unit operations, which is expected to have a further positive impact on project economics.

The production profile for the economic report estimated surface mine gold production of 15.8 million contained ounces, and an average annual recovery rate of 81.6%.

Currently, International Tower Hill is carrying out a 28,000 metre resource program, focused on infill and step out drilling of the deposit to test expansion potential, both laterally and at depth.

The pre-feasibility study (PFS) for the Livengood property is expected by mid-November this year, a further catalyst for the company's share price. The PFS will be the first step toward the permitting process for the property, which is expected to be submitted after sufficient data is collected.
 
Corp. Presentation, Update - September 2011: http://www.ithmines.com/_resources/presentations/ITH_Presentation_Aug_25_2011.pdf
 
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International Tower Hill committed to going it alone at Livengood, spokesperson says

In the race to build - or sell - the next big gold mine, International Tower Hill says it is committed to the former on its 17 million ounce Livengood property in Alaska.

Author: Kip Keen
Posted: Thursday , 08 Sep 2011

>>> http://www.mineweb.com/mineweb/view/mineweb/en/page66?oid=135032&sn=Detail&pid=102055
 
Mining News: CEO envisions big operation at Livengood

PEA sketches a large mill churning out more than 500,000 ounces of gold annually from Money Knob; 20.6M gold deposit still growing

Shane Lasley

Mining News

A mine-builder’s dream” is how James Komadina, the new CEO of International Tower Hill Mines Ltd. characterizes the enormous Livengood gold project in Interior Alaska.

An updated preliminary economic assessment released by Tower Hill in August – which outlines a 91,000-metric-ton-per-day mill churning out more than a half-million ounces of gold yearly for 20-plus years –paints a clearer picture of the operation Komadina envisions.

“There are not a lot of 20-million-ounce (gold) deposits being found globally, this is one of them,” Komadina told investors Sept. 15 at a precious metals conference in Colorado.

A 20.6-million-ounce gold deposit is not the only feature that enticed the experienced mine-builder to take the leadership role at Tower Hill.

“Rarely in my career have I encountered a project that has so much going for it: The resource is one of the largest and ideally situated gold deposits in the world; it is being advanced by one of the most competent technical teams I have come across; and we have a great relationship established with the state and local communities,” Komadina wrote shortly after moving into the Tower Hill executive office in July.

Positive economics
As summarized in the August PEA, Livengood would produce 12.9 million ounces of gold over 23 years. This 562,000-ounce-per-year average is expected to be significantly higher at the onset of operations due to sourcing initial ore from the higher grade heart of Money Knob’s Core zone.

“Our findings so far have shown that Livengood can potentially produce an average of 664,000 ounces of gold in its first five years at a cash cost of US$557 per ounce, making it one of the largest new gold development projects in North America,” Komadina said.

The PEA estimates initial capital costs of building a mine of this scale at Livengood will run about US$1.6 billion and another US$585 million or so of sustaining capital will be needed over the current 23-year mine life.

Using a base case gold price of US$1,100 per ounce, the mine would pay back the initial capital costs by the end of the first five years of production. At this price the proposed operation is forecast to generate US$3.1 billion in pre-tax cash flow, a US$1.2 billion net present value (at a 5 percent discount rate).

At US$1,400-per-ounce gold, the study’s long-term case, the payback period drops to about 3.2 years and produces cumulative pre-tax cash flows of US$6.9 billion, NPV (at a 5 percent discount rate) of US$3.1 billion.

Komadina said, “The release of these positive PEA numbers confirms our longstanding belief that Livengood is truly a world-class deposit representing one of the largest new gold discoveries made in recent times. With sound project economics and tremendous leverage to current commodity prices, the timely development of the Livengood deposit will create significant value for our shareholders and provide well-paying jobs for generations of Alaskans.”

Enormous ore body
Livengood – an enormous ore body with a low ore-to-strip ratio and large mineralized units – is particularly suited for the large-scale operation under consideration.

Using a cut-off of 0.22 grams of gold per metric ton, which is seen as an economic cut-off for the operation Tower Hill currently envisions, the Money Knob deposit contains a measured and indicated resource of 933 million metric tons averaging 0.55 grams per metric ton gold (16.5 million ounces) plus an inferred resource of 257 million metric tons averaging 0.50 g/t gold (4.1 million ounces).

At a cut-off grade of 0.5 g/t gold, which has typically been reported for Money Knob, the deposit contains a measured and indicated resource of 394 million metric tons of ore averaging 0.83 g/t gold (10.5 million ounces); and an inferred resource of 102 million metric tons of ore averaging 0.79 g/t gold (2.6 million ounces).

The size and grade of this resource is nearly identical to 2010 with the notable exception that 7.4 million ounces of gold have been transferred from the indicated to the measured category. This is the result of Tower Hill’s focus on confirming the continuity and grade of Money Knob through a significant infill drill program.

Much of this work early in the 2011 targeted the higher grade heart of the Core zone. This drilling is highlighted by hole MK-RC-504, which cut 33.5 meters averaging 8.07 g/t gold starting at a depth of 80.8 meters.

While hole 504 is the best intercept to date at Livengood, many of the Core zone infill holes returned intercepts well above the average grade at Money Knob, including:

MK-RC-0477, which cut 94.5 meters averaging 1.94 g/t gold;

MK-RC-0480, which cut 45.7 meters averaging 2.07 g/t gold;

MK-RC-0481, which cut 68.6 meters averaging 1.36 g/t gold; and,

MK-RC-0485, which cut 93 meters averaging 1.24 g/t gold.

Tower Hill said the new resource data included with the PEA also is derived from a rigorous modeling effort which constrained the estimate to add confidence to higher grade areas of the deposit.

Exploration continues
Although Tower Hill has outlined a gold deposit capable of producing more than half-a-million ounces of gold per year for two decades, the company has not let up on exploration. For the 2011/2012 fiscal year, which began in June, the company budgeted C$13.5 million for continued exploration across its 145-square-kilometer (56-square-mile) Livengood land package.

The largest portion of this budget, to the tune of C$7.5 million, is being spent on 28,000 meters of drilling at Money Knob. While the deposit is open to expansion, the primary focus of this program will be on continuing to upgrade the confidence of the 23 years of resource already outlined.

The most prospective direction to expand Money Knob is down. Most of the drilling into the deposit has been completed to a depth of about 300 meters, much of which has bottomed out in mineralization. Some holes successfully drilled below the resource floor highlight the potential at depth.

Starting at a depth of 311 meters, Hole MK-RC-0458 cut 112 meters of 2.63 g/t gold in the southwest section of the Core zone. MK-RC-0470, which intersected 13.7 meters of 5.45 grams per metric ton gold starting at a depth of 395 meters, provides further evidence of the gold potential beneath the Money Knob deposit.

“The fact we have now linked near-surface mineralization with these deeper, higher grade zones could make a positive impact on our overall plan, particularly in the proposed initial mining efforts. We will continue to explore these high-grade zones both at depth and along strike and incorporate these results into our ongoing prefeasibility study which will be completed in the fourth quarter of this year,” Komadina said.

Livengood Manager Karl Hanneman told Mining News that the Money Knob deposit remains open to westward expansion. A linear zone of strong gold-in-soil anomalies about 500 meters west of the deposit’s Southwest Zone is an area that Chief Geologist Chris Puchner is excited about.

Drilling, though, has closed off the deposit along trend to the northeast. This is a bittersweet development for Tower Hill. Though the company wants to expand the deposit, it needs to find a gold-free zone to build the mill and other facilities and an area to the northeast of the deposit has long been considered an ideal location for this infrastructure.

Another 17,000 meters of drilling will include geotechnical and condemnation drilling in areas where the company plans to build the mill and other infrastructure, as well as district-scale exploration.

The property-wide drilling will be guided by an IP-resistivity survey recently flown over the Livengood property, including Money Knob. With a geophysical signature of the 20-million-ounce gold deposit, the company hopes to find other areas with a similar response. This is especially useful in targeting areas where soil sampling programs have been inhibited by thick blankets of wind-blown silt and permafrost.

“We have got 145 square kilometers and we have only tapped into about 2.5 kilometers. So, is there another big deposit out there? We have got some drilling we are doing on two targets called Lucky and Moose,” Komadina said.

Coming milestones
While the geological team continues to upgrade and expand Money Knob, and seek other similar deposits across the Livengood property, Komadina and his growing staff of mine permitters, builders and operators will continue to hammer out the details for a world-class gold mine in Interior Alaska.

Komadina said that immediately following the mid-November release of the prefeasibility study, the Tower Hill technical team will launch into feasibility work.

“The essence of prefeasibility is, you find out what you don’t know,” he explained.

Addressing the unknowns presented in the prefeasibility study, Komadina anticipates entering the permitting process sometime in mid- to late-2012. The Tower Hill CEO said he expects it will take at least three years to complete the environmental impact study for the Livengood project.

Allowing a total of four years for permitting, Komadina foresees construction starting in 2016 and operations to begin two years later.

“The technical knowledge and skills now assembled at ITH will be crucial as we scale new heights going forward and, with focused attention to engineering and permitting details, overlain by a firm business hand, I believe ITH’s Alaskan future is indeed, golden,” said the Tower Hill CEO.

http://www.petroleumnews.com/pntruncate/656722706.shtml
 
Lundin says hold International Tower Hill Mines
Ticker Symbol: C:ITH

Lundin says hold International Tower Hill Mines

International Tower Hill Mines Ltd(C:ITH)
Shares Issued 86,683,919
Last Close10/12/2011 $5.29
Wednesday October 12 2011 - In the News

BrienLundin, in the September, 2011, edition of the Gold Newsletter, sayshold International Tower Hill Mines Ltd., recently $7.93. Mr. Lundinsaid buy three times between January, 2009, and April, 2010, at pricesranging from $1.46 to $5.85. He said take some profits -- perhaps sellhalf -- in September, 2010, at $6.65. Assuming a $1,000 investment foreach buy, selling half the $3,000 investment at $6.65 yielded a $2,232profit. Mr. Lundin said buy again in April, 2011, at $9.25. Assuming a$1,000 investment at $9.25 and taking into account the $1,500 investmentleft from the half sale, the $2,500 investment is now worth $5,344.International Tower plans to release, by year-end, a prefeasibilitystudy for its Livengood project in Alaska. It also plans to continuedrilling there for the next 12 months. A preliminary economic assessmentfor Livengood estimates $3.1-billion in pretax cash flows; however, italso estimates an "admittedly high" capex of $1.61-billion.Nonetheless, Mr. Lundin is pleased because the PEA says Livengood couldproduce 562,000 ounces of gold a year for 23 years. The gold bug sayscontinuously rising gold prices would make Livengood "eminentlyprofitable." Hold at current price levels.

© 2011 Canjex Publishing Ltd.
 
T.ITH - Institutional Holdings

Der renommierte Tocqueville Gold Fund hat seinen stake an International Tower Hill Mines in Q3 ausgebaut!

Weiter haben die Investmentsfonds von Invesco ihre Positionen erweitert..


The Tocqueville Gold Fund
PORTFOLIO HOLDINGS
September 30, 2011 (Unaudited)

SECURITY NAME - SECURITY IDENTIFIER - QUANTITY - MARKET VALUE (USD)

International Tower Hill Mines - 46050R102 - 2,493,136 - 12,565,405.44
International Tower Hill Mines - 9999THM - 5,666,667 - 28,822,726.51


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Alaska Pipeline Camp,jetzt ITH Headqarter

OAAAAJHVgu4-wzQwbQW181FX8SCerjxyBGG-BnHNZUW_-fVIe_R_u5T_bjIitjwuWnov7h0Fmgct7e-i37Rp4_kcuLQAm1T1UISPawiOlXDdOmqas5Q0GZbqiDqR.jpg


SAG Mill für das von ITH angedachte Scenario des mahlens.
OAAAALvp-Wa_JKexeJB47mjfyRlEjdeDwE4z7p_SSylRWmJlgw2jVZIFJmtQRKLntiDDQvB_w1yjf7-zsxJDxUD2V6MAm1T1UA9Wa3xCbUV-mZasn80YkX3uJ6DN.jpg
 
http://www.thestreet.com/_yahoo/story/11277063/1/international-tower-hill-were-not-for-sale.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA


international-tower-hill-were-not-for-sale
 
Int'l Speculator refreshes Tower Hill buy

2011-10-26 14:43 ET - In the News

The InternationalSpeculator in its Oct. 7, 2011, issue refreshes its buy of InternationalTower Hill Mines Ltd. at $4.88.

The newsletter said buy on Nov. 5,2008, at $1.21. It then said sell some -- perhaps half -- on April 1,2009, at $2.60. Assuming an investment of $1,000, the half sell yielded aprofit of $554. It then said buy five more times between June 1, 2009,and Sept. 5, 2011, at prices ranging from $2.77 to $9.45. Assuminganother five $1,000 investments, and taking into consideration the $500investment left from the April, 2009, half sale, the Speculator's $5,500investment is worth $6,271. The Speculator's writer goes over the pressreleases and does not find much in the way of talking points, only thatTower Hill is on the "deep-discount rack" for no company-relatedreason.

Indeed, Tower Hill's last press release was Sept. 8, 2011,announcing its move to the S&P/TSX SmallCap Index.

The company'sfocus is the Livengood gold project near Fairbanks, Alaska.

Its updatedpreliminary economic assessment shows a 16.5-million-ounce measured andindicated resource.

He says that while the stock is vulnerable totax-loss selling, it is also a more likely takeover target.

Tower Hill's52-week high is $10.49.
 
International Tower Hill: We're Not For Sale
Alix Steel
10/17/11 - 07:30 AM EDT

NEW YORK (TheStreet ) -- International Tower Hill(THM) has what many of the big gold miners want and need, but CEO Jim Komadina says they won't get it by trying to acquire his company.

"I didn't come on board to sell the thing," says Komadina, who took the helm of the company in May with the explicit goal of transforming the company from an explorer into a developer. "When I came on board, I took the for sale sign down."

Analysts and investors alike will be disappointed. Credit Suisse wrote in a recent note, "given the development and financing risks facing International Tower Hill, we believe the company will strongly consider alternatives to developing Livengood alone, including joint ventures or an outright sale of the company."


International Tower Hill has what big miners want -- 100% ownership of the 20th-largest gold deposit in the world, Livengood. It ranks in the top 2% of gold discoveries over the past 20 years. The mine could produce an average of 562,000 ounces of gold over a 23 year life, delivering 664,000 ounces of gold during the first five years.

The company has 7 more years of feasibility, permitting and construction ahead of it before it will start producing gold. Although it has $116 million in cash and no debt, its capital costs will still reach $1.6 billion -- all preproduction cost.





Credit Suisse is forecasting a 166% dilution to the existing share base as Tower Hill tries to raise money. The firm estimates that International Tower Hill spends $4.9 million a month and will run out of cash by mid-2012 and estimates the company will try to raise $147 million dollars in an equity offering.

Komadina says that the company has been notoriously lean with shares, with only 86 million share outstanding. "Other companies in the junior sector might have 400 or 500 million shares outstanding." He has tasked his new CFO, Tom Yip, to outline two or three financing options the company can lay out for investors with the hopes of calming fears. Komadina declined to comment on the specifics of any potential equity offering but Yip will be unveiling his options before November 24th.

"We have to be very innovative in how we are going to finance this," said the CEO. "I mean, 50-50 joint ventures are a hard thing to do ... when I look at our cash requirements, going forward, I can still keep the entire company at 100% instead of selling 50% off to a joint venture for roughly the same amount of money. So I would rather go out ... and raise the additional couple hundred million we need to get us across the finish line."

Komadina gave a definite no to a joint venture and a buyout but a hostile bid is out of his control. "We've prepped the board and I have talked to them about what I think the range of values are for Livengood," he said. "For us to be successful in permitting and building this, we have to be of single mind in focus ... So if someone writes us the letter, we will respond to it. We know what the asset is worth." Komadina said an attractive offer could value shares at a multiple of $11. The stock is currently trading at $5.13.

Canaccord, which has a buy rating on the stock, believes that "current management is qualified and capable of advancing the company's business plan, [but] there are no guarantees it will be successful."




Credit Suisse, with a neutral rating, says failing a takeover bid, a rising gold price is the company's best bet. A 10% rise in gold can result in an estimated 26% increase to the firms NAV forecast. But really, Credit Suisse is looking for a buyout.

The firm named Kinross Gold(KGC), AngloGold Ashanti(AU) and Newmont Mining(NEM) as possible buyers.

Livengood is 60 miles away from Kinross' Fort Knox mine, which International Tower Hill studied very carefully when prepping its own asset. According to Credit Suisse, Fort Knox will be on its last legs as Livengood ramps up production. "We note, however, that Kinross currently faces significant capex requirements of its own, and as such, a joint venture with Kinross is a more likely scenario."

AngloGold Ashanti is a South African miner desperately looking to diversify away from the country and currently has no exposure to Alaska. "Credit Suisse currently does not cover AngloGold, but we note that the company has a healthy cash reserve and a reasonable debt load."

Newmont is trying to grow its production 35% by 2017 to 7 million ounces and double its reserve base in 10 years. Newmont isn't mining in Alaska currently and "has a strong balance sheet with over $4 billion in cash and a 14% debt to capitalization ratio," according to Credit Suisse.

CEO Richard O'Brien in a recent interview, however, said that Newmont's commitment to their new dividend, which links payout to the gold price, in addition to its exploration profile are enough to keep Newmont's cash busy.

"We see enough in our own portfolio we don't need to do M&A," said O'Brien. "It would be purely opportunistic if we decide to do something."
Newmont, Kinross and AngloGold declined to comment on rumors or speculation around mergers and acquisitions.

--Written by Alix Steel in New York.
 
Insider Name AngloGold Ashanti (U.S.A.) Exploration Inc.
Insider Relationship 10% Holder or Executive
SEDI Relationship 3 - 10% Security Holder of Issuer
Last Filing Date November 22, 2010
Security Designation
Underlying Security Designation Ownership Type
Registered Holder % Shares
Outstanding Balance
Common Shares Direct Ownership 11.037% 9,567,559

Insider Name AngloGold Ashanti Limited
Insider Relationship 10% Holder or Executive
SEDI Relationship 3 - 10% Security Holder of Issuer
Last Filing Date April 13, 2011
Security Designation
Underlying Security Designation Ownership Type
Registered Holder % Shares
Outstanding Balance
Common Shares Indirect Ownership
AngloGold Ashanti (U.S.A.) Exploration Inc. 11.304% 9,798,323
 
International Tower Hill Encounters Additional Higher Grade Gold Mineralization and Advances Target Definition Work at the Livengood Project, Alaska <ITH.TO>

Marketwire

International Tower Hill Mines Ltd.

November 7, 2011 - 09:00:00 AM

International Tower Hill Encounters Additional Higher Grade Gold
Mineralization and Advances Target Definition Work at the Livengood Project,
Alaska

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 7, 2011) - International Tower
Hill Mines Ltd. ("ITH" or the "Company") (TSX:ITH)(NYSE
Amex:THM)(FRANKFURT:IW9) announces results from 92 drill holes completed since
June 2011 at its Livengood project located near Fairbanks, Alaska. New results
from close-spaced infill drilling in the Core and Sunshine Zones confirm
resource estimates based on wider spaced-drilling. This, and other infill
drilling, also encountered locally higher grade mineralization. Highlights
include hole MK-RC-531 which intercepted 17.27 g/t gold over 4.6 metres in the
Sunshine Zone, hole MK-RC-522 which intercepted 8.0 g/t gold over 4.6 metres
in the Core Zone and hole MK-RC-537 which intercepted 8.7 g/t gold over 3.1
metres in the Tower Zone. These findings enable the Company to define the
higher grade zones in the Livengood gold deposit which may be targeted during
the initial phase of mining.

The results also include drill holes focused on project development activities
related to mine design and environmental characterization as well as step-out
resource growth drill holes. Results so far are supporting the identification
of potential infrastructure locations, although new areas of significant gold
mineralization have been identified. The Company has also completed an initial
district-wide geophysical survey which has confirmed a strong response to
alteration directly associated with the current deposit. This finding will
greatly aid in further target definition along a 10-kilometre-long strike
system previously identified on the 145 km2 Livengood land package. Analysis
of geophysical data along trend is in progress with results expected in the
following weeks to define the next phase of district exploration drill
targets.

Site Development and District-Wide Exploration

The majority of step-out drilling conducted this summer was directed at
project development activities related to mine design and environmental
characterization. Results to date have been encouraging for development;
however, condemnation hole MK-10-97, which was drilled over two kilometres
southeast of the Money Knob deposit, did intercept significant mineralization
of 4.82 g/t gold over 1.57 metres and favorable host rocks. In addition, holes
MK-11-119 (1.68 m at 5.72 g/t Au), MK-11-120 (1.22 m at 5.00 g/t Au), and
MK-123 (9.77 m at 0.83 g/t Au) intersected mineralized dikes over a broad area
north and east of the deposit indicating further mineralization potential (see
Figure 1 - http://media3.marketwire.com/docs/1107ITH_Fig1.pdf). Assay results
for four additional holes in this area are pending. If findings warrant
further exploration, the Company has already identified an alternative mill
location.

Exploration drilling is also underway on the Moose and Lucky target areas
located approximately 5 kilometres to the northeast of the current Money Knob
deposit, which were previously identified through surface soil geochemistry.
Results will become available in the upcoming months.

>>> http://www.ithmines.com/_resources/pdf/nr_2011_11_07.pdf
 
International Tower Hill Mines (ITH) (TSE:ITH) (AMEX:THM) announced Monday results from 92 drill holes completed since June at its Livengood project near Fairbanks, Alaska, finding additional higher grade gold mineralization that can be targeted during mining. New results from closely-spaced infill drilling in the Core and Sunshine Zones confirmed resource estimates, while other infill drilling also encountered locally higher grade mineralization in the Core, Sunshine and Tower Zones. The company said infill drilling to date on the deposit has increased the confidence level of the resource size and grade, including the evaluation of the continuity of mineralization away from the main feeder zones (Core and Sunshine), and validating the continuity of Tower and Core Zones' mineralization.Highlights include hole MK-RC-531, which intercepted 17.27 grams per tonne (g/t) gold over 4.6 metres in the Sunshine Zone, and hole MK-RC-522, which returned 8.0 g/t gold over 4.6 metres in the Core Zone. In addition, hole MK-RC-537 tested 8.7 g/t gold over 3.1 metres in the Tower Zone.RBC Capital Markets analyst Haytham Hodaly issued a positive outlook on the news release Monday, stating that as a result of the recent assays, the company is now looking to further define these higher grade zones in the Livengood gold deposit that may become targets for the earlier phase of mining, "thereby improving the economics on the project".The results also include drill holes that were focused on project development activities related to mine design and environmental characterization, as well as step-out resource growth drill holes. International Tower Hill said assays so far are supporting the identification of potential infrastructure locations, although new areas of significant gold mineralization have also been identified. For example, hole MK-10-97, which was drilled over two kilometres southeast of the Money Knob deposit, returned 4.82 g/t gold over 1.57 metres, and hole MK-11-119 intercepted 1.68 metres at 5.72 g/t gold. Assay results for four additional holes in this area are pending, and if findings warrant further exploration, the company said it has already identified an alternative mill location.The company has also completed an initial district-wide geophysical survey, which has confirmed a strong response to alteration directly associated with the current deposit, helping in further target definition along the 10 kilometre-long strike system on the Livengood land package, ITH said. The geophysical program was designed to help define further deposits to the east and northeast of the current Livengood target. Analysis of this geophysical data is in progress, with results expected in the following weeks to define the next phase of exploration drill targets. ITH said that it also tested the correlation of grade between previous reverse circulation and diamond core drilling in the heart of the Sunshine Zone, and results so far have compared favourably, suggesting a higher grade, northwest trend within the mineralization. The company controls 100 percent of its approximately 145 square kilometre Livengood land package, which is made up of fee land leased from the Alaska Mental Health Trust, a number of smaller private mineral leases and 115 Alaska state mining claims. The project is situated 110 roadkilometres north of Fairbanks, Alaska, along the paved, all-weather Elliott Highway, the Trans-Alaska Pipeline Corridor, and the proposed Alaska natural gas pipeline route. Ongoing metallurgical studies are focused on the optimization of the milling and flotation unit operations considered in the updated preliminary economic assessment from August.
 
•Segment 5 – James Komadina discusses the future direction of International Tower Hill Mines.

>>> http://www.kereport.com/2011/11/05/shortterm-strength-conventional-stock-markets/
 
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