Paulson & Co. Amends 13D for International Tower Hill Mines

TL;DR

**Paulson & Co. just updated their stake in International Tower Hill Mines, watch for potential market reaction.**

AI Summary

Paulson & Co. Inc. filed an Amendment No. 3 to their Schedule 13D on January 22, 2024, indicating a change in their beneficial ownership of International Tower Hill Mines Ltd. common shares. This amendment updates previous disclosures, signaling a potential shift in Paulson & Co.'s investment strategy or influence over the mining company. For current or prospective shareholders, this matters because significant changes in a major institutional investor's stake can impact stock price and signal confidence (or lack thereof) in the company's future prospects.

Why It Matters

This filing indicates a notable institutional investor, Paulson & Co. Inc., is updating its position in International Tower Hill Mines Ltd., which can influence market perception and the stock's performance.

Risk Assessment

Risk Level: medium — Changes in major investor holdings can introduce volatility and uncertainty, making the stock a medium risk.

Analyst Insight

Investors should monitor subsequent filings from Paulson & Co. Inc. and International Tower Hill Mines Ltd. for further details on any changes in ownership percentages or strategic intentions, as this could signal future stock movements.

Key Players & Entities

• Paulson & Co. Inc. (company) — the filing entity and a major investor
• International Tower Hill Mines Ltd. (company) — the subject company whose shares are being reported
• Arinze Ike, Esq. (person) — person authorized to receive notices for the filing
• Kleinberg, Kaplan, Wolff & Cohen, P.C. (company) — law firm representing the filing person

Forward-Looking Statements

• Paulson & Co. Inc. may be adjusting its long-term strategy regarding its investment in International Tower Hill Mines Ltd. (Paulson & Co. Inc.) — medium confidence, target: Q2 2024

FAQ

Key Financial Figures

• $1,506,121.98 — y Paulson, and a total of approximately $1,506,121.98 was paid to acquire such securities. I
• $0.664 — 56 shares of Common Stock at a price of $0.664 per share. (d) See Note 1. (e) Not a

Filing Documents

• international13da-301222024.htm (SC 13D/A) — 32KB
• 0001013594-24-000062.txt ( ) — 33KB

(c) is hereby amended and restated to read as follows

Item 2(c) is hereby amended and restated to read as follows: (c) Paulson, an investment advisor, furnishes investment advice to and manages onshore and offshore pooled investment vehicles (collectively, the "Funds"). John Paulson is the President and sole Director of Paulson & Co. Inc. Item 3. Source and Amount of Funds or Other Consideration.

is hereby amended to add the following

Item 3 is hereby amended to add the following: The consideration for the purchase of the securities on January 18, 2024 reported herein by the Reporting Person was derived from available capital of the Funds managed by Paulson, and a total of approximately $1,506,121.98 was paid to acquire such securities. Item 4. Purpose of Transaction.

of the Schedule 13D is hereby amended by adding the following

Item 4 of the Schedule 13D is hereby amended by adding the following: On, January 18, 2024, Paulson entered into a subscription agreement (the "Subscription Agreement") with International Tower Hill Mines Ltd. (the "Issuer"), pursuant to which the Paulson purchased 2,268,256 of the Issuer's shares of Common Stock in a private placement offering (the "Offering"), the net proceeds of which are for the Issuer's general working capital purposes. The foregoing description of the subscription agreement is qualified in its entirety by reference to Exhibit 10.1 to the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on January 22, 2024 (the "Closing 8-K"). Item 5. Interest in Securities of the Issuer.

of the Schedule 13D is hereby amended and restated in its entirety as

Item 5 of the Schedule 13D is hereby amended and restated in its entirety as follows: (a) The aggregate percentage of Common Stock reported owned by the Reporting Person is based upon approximately 199,693,442 shares of Common Stock outstanding, which is based upon (i) 195,885,531 shares of Common Stock outstanding as of October 31, 2023 as disclosed in the Issuer's Current Report on Form 10-Q filed with the Securities and Exchange Commission on November 8, 2023 and (ii) the issuance by the Issuer of an additional 3,807,911 shares of Common Stock as part of the Offering as described in the Closing 8-K. As of the date hereof, the Reporting Person may be deemed to have beneficially owned approximately 32.1% of the outstanding Common Stock. (b) Number of shares of Common Stock as to which Paulson has: (i) Sole power to vote or direct the vote: 64,198,980 (see Note 1). (ii) Shared power to vote or direct the vote: 0 (iii) Sole power to dispose or direct the disposition: 64,198,980 (see Note 1). (iv) Shared power to dispose or direct the disposition: 0 (c) On January 18, 2024, the Reporting Person acquired from the Issuer, in a private placement, 2,268,256 shares of Common Stock at a price of $0.664 per share. (d) See Note 1. (e) Not applicable. Note 1: Paulson furnishes investment advice to and manages the Funds. In its role as investment advisor, or manager, as the case may be, Paulson possesses voting and investment power over the securities of the Issuer described in this Schedule 13D that are owned by the Funds. The pecuniary interest of all securities reported in this Schedule is owned by the Funds. Except for the purpose of determining beneficial ownership under Section 13(d) of the Securities Exchange Act of 1934, as amended, Paulson disclaims beneficial ownership of all securities reported in this Schedule 13D. For reporting purposes, the aggregate amount of Common Stock deemed to be beneficially owned by the Reporting Person is calculated based on

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information with respect to it set forth in this statement is true, complete, and correct. Dated: January 22, 2024 PAULSON & CO. INC. By: /s/ Stuart L. Merzer Name: Stuart L. Merzer Title: General Counsel & Chief Compliance Officer

View Full Filing

View this SC 13D/A filing on SEC EDGAR