International Tower Hill Mines Ltd. (THM) filed its unaudited third‑quarter 2025 financial statements and management discussion and analysis on Form 10‑Q for the period ended September 30, 2025. The filing, posted to SEDAR and the U.S. SEC’s EDGAR system, details the company’s cash position, operating expenses, and capital expenditures for the nine‑month period.
The unaudited statements report a net loss of $0.73 million for the three months ended September 30, 2025, compared with a $0.67 million loss for the same period in 2024. For the nine months ended September 30, 2025, the net loss widened to $3.33 million from $2.64 million in 2024, underscoring the ongoing cash burn typical of a development‑stage gold exploration firm that has yet to generate revenue.
THM continues to advance its Livengood Gold Project in Alaska, with the 2025 work program including metallurgical studies and environmental data collection. A press release on September 4, 2025, detailed progress on a stibnite antimony metallurgical study at the project, reflecting the company’s focus on refining its resource base and preparing for a future production decision.
The filing outlines the company’s financing strategy, noting recent equity raises: a private placement in January 2024 that raised approximately $2.5 million and another in March 2025 that raised about $3.9 million. Management emphasized that the company will require significant additional financing to sustain the Livengood development timeline and to cover ongoing operating and capital expenditures.
While the company has no revenue and expects to operate at a loss for the foreseeable future, the 10‑Q provides investors with a clearer view of cash burn and future capital needs. The disclosure signals that THM is actively managing its balance sheet and seeking new capital to move the Livengood project closer to a production decision.
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