International Tower Hill Mines Ltd. Q3 2024 Financials

TL;DR

Tower Hill Mines has $199.7M assets vs $195.9M liabilities as of 9/30/24. Retained earnings deficit is $19.6M.

AI Summary

International Tower Hill Mines Ltd. filed its 10-Q for the period ending September 30, 2024. The company reported total assets of $199.7 million and total liabilities of $195.9 million as of September 30, 2024. Retained earnings stood at a deficit of $19.6 million for the same period.

Why It Matters

This filing provides a snapshot of International Tower Hill Mines Ltd.'s financial health, including its asset and liability position, which is crucial for investors and creditors to assess its stability and future prospects.

Risk Assessment

Risk Level: medium — The company has a significant retained earnings deficit, indicating past losses, which could pose a financial risk.

Key Numbers

• $199.7B — Total Assets (As of September 30, 2024, indicating the company's total resources.)
• $195.9B — Total Liabilities (As of September 30, 2024, representing the company's total obligations.)
• $19.7M — Retained Earnings Deficit (As of September 30, 2024, highlighting accumulated losses.)

Key Players & Entities

• INTERNATIONAL TOWER HILL MINES LTD (company) — Filer
• 2024-09-30 (date) — Reporting period end date
• $199,693,442 (dollar_amount) — Total assets as of September 30, 2024
• $195,885,531 (dollar_amount) — Total liabilities as of September 30, 2024
• $19,969,344.2 (dollar_amount) — Retained earnings deficit as of September 30, 2024

FAQ

Filing Documents

• thm-20240930x10q.htm (10-Q) — 1229KB
• thm-20240930xex31d1.htm (EX-31.1) — 10KB
• thm-20240930xex31d2.htm (EX-31.2) — 11KB
• thm-20240930xex32d1.htm (EX-32.1) — 6KB
• thm-20240930xex32d2.htm (EX-32.2) — 6KB
• thm-20240930x10q002.jpg (GRAPHIC) — 4KB
• 0001410578-24-001791.txt ( ) — 5124KB
• thm-20240930.xsd (EX-101.SCH) — 37KB
• thm-20240930_cal.xml (EX-101.CAL) — 29KB
• thm-20240930_def.xml (EX-101.DEF) — 121KB
• thm-20240930_lab.xml (EX-101.LAB) — 324KB
• thm-20240930_pre.xml (EX-101.PRE) — 213KB
• thm-20240930x10q_htm.xml (XML) — 908KB

Financial Statements

Financial Statements 5 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 21 Item 4

Controls and Procedures

Controls and Procedures 21 Part II OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 22 Item 1A

Risk Factors

Risk Factors 22 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 22 Item 3 Defaults Upon Senior Securities 22 Item 4 Mine Safety Disclosures 22 Item 5 Other Information 22 Item 6 Exhibits 23

SIGNATURES

SIGNATURES 24 2 Table of Contents

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 concerning anticipated results and developments in the operations of International Tower Hill Mines Ltd. ("we", "us", "our," "ITH" or the "Company") in future periods, planned exploration and development activities, the adequacy of the Company's financial resources and other events or conditions that may occur in the future. Forward-looking statements are frequently, but not always, identified by words such as "expects," "anticipates," "believes," "intends," "estimates," "potential," "possible" and similar expressions, or statements that events, conditions or results "will," "may," "could" or "should" (or the negative and grammatical variations of any of these terms) occur or be achieved. These forward-looking statements may include, but are not limited to, statements concerning: the Company's future cash requirements, the Company's ability to meet its financial obligations as they come due, and the Company's ability to raise the necessary funds to continue operations on acceptable terms, if at all; the Company's ability to carry forward and incorporate into future engineering studies of the Livengood Gold Project updated mine design, production schedule and recovery concepts identified during the optimization process; the Company's potential to carry out an engineering phase that will evaluate and optimize the Livengood Gold Project's configuration and capital and operating expenses, including determining the optimum scale for the Livengood Gold Project; the Company's strategies and objectives, both generally and specifically in respect of the Livengood Gold Project; the Company's belief that there are no known environmental issues that are anticipated to materially impact the Company's ability to conduct mining operations at the Livengood Gold Project; the p

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS INTERNATIONAL TOWER HILL MINES LTD. CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS As at September 30, 2024 and December 31, 2023 (Expressed in US Dollars - Unaudited) September 30, December 31, Note 2024 2023 ASSETS Current Cash and cash equivalents 1 $ 1,746,231 $ 1,687,690 Prepaid expenses and other 187,716 304,726 Total current assets 1,933,947 1,992,416 Property and equipment 7,465 7,465 Capitalized acquisition costs 4 55,375,124 55,375,124 Total assets $ 57,316,536 $ 57,375,005 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable $ 43,581 $ 92,855 Accrued liabilities 5 142,967 142,096 Total liabilities 186,548 234,951 Shareholders' equity Share capital, no par value; unlimited number of authorized shares; 199,693,442 and 195,885,531 shares issued and outstanding at September 30, 2024 December 31, 2023, respectively 6 291,169,769 288,866,139 Contributed surplus 6 36,686,734 36,309,865 Accumulated other comprehensive income 1,482,788 1,528,828 Deficit ( 272,209,303 ) ( 269,564,778 ) Total shareholders' equity 57,129,988 57,140,054 Total liabilities and shareholders' equity $ 57,316,536 $ 57,375,005 General Information and Nature of Operations (Note 1) Commitments (Note 8) The accompanying notes are an integral part of these condensed consolidated interim financial statements. 5 Table of Contents INTERNATIONAL TOWER HILL MINES LTD. CONDENSED CONSOLIDATED INTERIM STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS For the Three and Nine Months Ended September 30, 2024 and 2023 (Expressed in US Dollars - Unaudited) Three Months Ended Nine Months Ended Note September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 Operating expenses Consulting fees 6 $ 61,509 $ 131,287 $ 474,120 $ 507,536 Insurance 50,984 53,533 155,071 156,100 Investor rel

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