{"id":1205697,"date":"2020-09-04T12:43:18","date_gmt":"2020-09-04T17:43:18","guid":{"rendered":"https:\/\/www.mining.com\/?p=1034752"},"modified":"2020-09-04T12:43:18","modified_gmt":"2020-09-04T17:43:18","slug":"international-tower-hill-looks-to-revive-livengood","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1205697","title":{"rendered":"International Tower Hill looks to revive Livengood"},"content":{"rendered":"

International Tower Hill Mines\u00a0plans to raise $10.3 million in support of a prefeasibility study on its Livengood gold deposit, 110 km north of Fairbanks, Alaska.<\/p>\n

In July, the Vancouver-based company announced it had finalized the key contracts to complete a prefeasibility study on the large, but low-grade Livengood project, with an expected release date of October 2021.<\/p>\n

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The project contains measured and indicated resources of 525.38 million tonnes grading 0.68 g\/t gold for 11.5 million oz. gold<\/p>\n<\/blockquote>\n<\/figure>\n

Tower Hill\u2019s three largest shareholders have already taken their pro-rata share of the at-the-market offering \u2013 5.7 million shares (or 3% of shares outstanding) at a closing market price of $1.40 per share on Sept. 1. for a total of $7.9 million. Following completion of the offering, Paulson & Co. will own 31.8% of Tower Hill\u2019s shares, with Sprott Asset Management holding 15.1% and Electrum Strategic Opportunities Fund II 14.2%.<\/p>\n

The remainder of the offering \u2013 $2.4 million \u2013 will be made through B. Riley as the sales agent, at its discretion. Shares will not be offered through the Toronto Stock Exchange.<\/p>\n

The project contains measured and indicated resources of 525.38 million tonnes grading 0.68 g\/t gold for 11.5 million oz. gold. The resource figure includes proven and probable reserves of 391.7 million tonnes grading 0.71 g\/t gold for 9 million oz. gold.<\/p>\n

Livengood has seen a number of economic studies, most recently a prefeasibility study in April 2017. That study projected a C$1.8-billion initial capex for a mine producing an average of 294,100 oz. gold per year over a 23-year life. However, the project was not economic at the $1,250 per oz. base case gold price used in the study. At that gold price, the study projected a net present value (NPV) of -$552 million at a 5% discount rate; an after-tax internal rate of return of 0.5%, and a payback period of 22.1 years.<\/p>\n

(This article first appeared in the\u00a0<\/em>Canadian Mining Journal<\/em><\/a>)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

International Tower Hill Mines plans to raise $10.3 million in support of a prefeasibility study on its Livengood gold deposit, 110 km north […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1205697"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1205697"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1205697\/revisions"}],"predecessor-version":[{"id":1205729,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1205697\/revisions\/1205729"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1205697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1205697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1205697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}