International Tower Hill Mines Ltd. (THM) shares plunged 7.97% in after-hours on Friday, November 12, 2021, and closed the weekly trading at $0.87. However, in the regular trading session of Friday, THM’s stock gained 24.00%. THM shares have fallen 38.57% over the last 12 months, and they have moved up 32.38% in the past week. Over the past three months, the stock has gained 10.56%, while over the past six months, it has declined9.62%.
Let’s have a brief look at its recent news and developments.
THM latest news
On November 12, 2021, International Tower Hill Mines Ltd. (THM) filed its unaudited third-quarter Financial Statements for the three and nine-month period ended September 30, 2021.
Q3 2021 financial highlights
- There was no revenue generated by the company during Q3 2021.
- Total operating expenses were $1.90 million in Q3 2021 compared to $1.18 million in Q3 2020.
- It suffered a net loss of $1.65 million in Q3 2021 compared to a net loss of $1.1 million in Q3 2020.
- As of September 30, 2021, the company had cash and cash equivalents of $9.3 million.
THM PFS of Livengood Gold Project
On November 4, 2021, International Tower Hill Mines Ltd. (THM) announced the results of the Pre-Feasibility Study for its Livengood Gold Project located near Fairbanks, Alaska.
According to the report, the project w would process 65,000 tons per day and produce 6.4 million ounces of gold over 21 years from a gold resource estimated at 13.6 million ounces at 0.60 g/tonne.
The PFS estimated the capital costs of the Project at US$1.93 billion, the total cost per ton milled at US$13.12, and the all-in sustaining costs at US$1,171 per ounce. The PFS estimated a 5% NPV of US$400 million at $1,800/oz US$975 million at US$2,000/oz, and US$2.3 billion at $US2,500/oz.
Conclusion
As the company is still not generating any revenue from its Livengood Gold Project located along the paved Elliott Highway, 70 miles north of Fairbanks, Alaska, therefore its stock price went down in the after-hours after its Q3 2021 financial results announcement.
Let’s see how it performs in the coming trading session after the weekend?
