They did it again
I wrote about International Tower Hill last October. While everyone else in the mining industry is pulling in their horns and cowering in fear, ITH is developing ounces.
On October 30th, I reported they had 6.37 million ounces of gold at a cutoff grade of .3 grams. They just came out with a new resource and are now up to 9.72 million ounces at the same grade. This is getting boring. I'm tired of writing boring pieces. Read the previous articles, figure out if you think you would like to own ounces of gold at about $11 an ounce Canadian and go buy the stock.
This is one of the best-managed companies in the business. They aren't going to get bought out cheap; the stock is as tight as it can be. They have $22 million dollars in warrants due in May that will be exercised at $3 so cash isn't an issue.
If I were them, I'd spin off Terra. There are a lot more ounces there than the figures show. It's at surface and someone could put in a $5 million dollar plant and be in production. I suggested it to President and CEO Jeff Pontius and one day soon, he'll do it.
This is a real good time to own resource shares and gold. I may have mentioned that before.
International Tower Hill is an advertiser and we have participated in private placements in the past. We are biased as we can be.
Jan 29, 2009