International Tower Hill Mines Reports $1.93 Million Net Loss in Q2 2025

International Tower Hill Mines Ltd. (ITH) reported a net loss of $1.93 million for the second quarter of 2025, compared to a loss of $1.43 million in the same period of 2024. The company's operating expenses increased to $1.76 million from $1.49 million year-over-year, driven primarily by higher mineral property expenditures, which rose to $801,909 from $628,951. The increase in expenses was attributed to a higher advance minimum royalty payment and timing variances in legal services. The company's comprehensive loss for the quarter was $1.73 million, reflecting a slight increase from $1.48 million in the prior year.

In terms of financial position, ITH's cash and cash equivalents significantly improved to $2.85 million as of June 30, 2025, up from $992,487 at the end of 2024. This increase was largely due to a successful private placement that raised approximately $3.93 million through the issuance of 8.19 million common shares. The company's total assets also rose to $58.48 million, compared to $56.52 million at the end of the previous fiscal year. Shareholders' equity increased to $58.29 million, reflecting the capital raised through the private placement.

Operationally, ITH continues to focus on its Livengood Gold Project in Alaska, where it holds a 100% interest. The company has not yet commenced commercial production but is advancing its exploration and development activities. The 2025 budget of $3.7 million has been approved to support ongoing work, including metallurgical studies and environmental data collection necessary for future permitting. The company reported that it will require significant additional financing to continue its operations and advance the Livengood project, with no assurance that such financing will be available on acceptable terms.

The company’s employee headcount remained stable, and it continues to engage with its existing shareholders while exploring potential strategic alliances to support its development efforts. ITH's management expressed confidence that the current cash reserves would be sufficient to cover anticipated operational costs for at least the next 12 months, although they acknowledged the uncertainty surrounding future financing needs and market conditions.

Looking ahead, ITH's management remains focused on advancing the Livengood Gold Project while navigating the challenges of securing additional funding. The company is also monitoring market conditions and regulatory requirements that could impact its operations. The outlook remains cautious, with management emphasizing the need for continued engagement with stakeholders and potential partners to facilitate the project's development.