International Tower Hill Mines Files 2026 Second Quarter Financial Results
International Tower Hill’s working capital fell to $110.1 million as the company increased spending on feasibility studies for its projects.
International Tower Hill Mines Ltd. filed its unaudited Q2 2026 financial statements, Management’s Discussion and Analysis, and Form 10-Q for the three and six months ended June 30, 2026. The documents were posted to SEDAR+, EDGAR, and the company website.
The release highlighted only one financial metric: working capital of USD 110.1 million as of June 30, 2026. It contained no management quotes and provided no figures for earnings, revenue, operating income, net income, cash balance, or guidance.
The filing was signed by Karl L. Hanneman as Chief Executive Officer. Under the previously announced transition, David Wiens is not expected to become CEO until August 17, 2026.
This represents a decrease of approximately USD 4.9 million, or roughly 4.3%, over the quarter. The reduction aligns with the company’s previously stated 2026 work program budget of USD 20–25 million and its pre-revenue development status.
The release did not disclose Q2 net income, operating expense details, cash burn figures, or whether the Q2 net loss widened or narrowed. For context, Q1 2026 net income was USD 2.27 million, driven primarily by a USD 2.68 million foreign exchange gain and USD 0.64 million in interest income rather than operational performance. In comparison, the company reported a net loss of USD 4.64 million for FY2025.
Because the company did not provide Q2 earnings details in the release, the filing cannot be analyzed as a full earnings beat or miss. The only new data point is the modest, expected working capital decline. A financing completed in January 2026 had already signaled ample liquidity; a working capital balance of USD 110.1 million remains strong relative to the pre-financing balance sheet, which held only about USD 1.5 million in total current assets at year-end 2025.
International Tower Hill Mines Ltd. holds a 100% interest in the Livengood Gold Project, situated along the paved Elliott Highway approximately 70 miles north of Fairbanks, Alaska. The company is currently in the early development and pre-permitting stage, advancing feasibility work and permitting field activities for the large, low-grade bulk-tonnage gold deposit.
According to the company’s investor presentation, current resources and reserves stand at 13.6 million ounces of gold in measured and indicated resources, comprising 705 million tonnes at 0.60 g/t Au. Proven and probable reserves total 9.0 million ounces of gold, representing 430 million tonnes at 0.65 g/t Au.
The 2023 Preliminary Feasibility Study assumed a gold price of USD 1,680/oz and a throughput of 65,000 tonnes per day. The study projected a mine life of 21 years with an initial capital expenditure of approximately USD 1.93 billion. Life-of-mine average internal sustaining capital costs (AISC) were estimated at approximately USD 1,171/oz, with average production of 388,600 oz/year in the first five years and total production of 6.4 million ounces over the life of mine.
Preliminary metallurgical work indicates that antimony is a potential by-product, with stibnite showing good liberation and floatability at the existing grind size. The 2026 program includes a 3,000-meter PQ core drilling program, metallurgical testing, feasibility study trade-offs, and permitting baseline work.