International Tower Hill (1I1.F) Q2 2025 Earnings Report

International Tower Hill Mines Ltd (1I1.F) reported QQ2 2025 results with no revenue recognized in the quarter and a continued loss trajectory driven by exploration and corporate costs. Net income for the quarter was -$1.93 million, or -$0.0093 per share on 207.9 million weighted-average shares, while EBITDA declined to -$1.76 million. Operating activities yielded a positive cash flow of $660k on a stand-alone basis, yet the overall net cash from operating activities was -$1.55 million due to working capital movements and a material non-cash charge of -$2.30 million, underscoring the cash-burn characteristics of a junior exploration company rather than a revenue-generating miner.

The balance sheet shows a cash position of $2.85 million and no short- or long-term debt, with total assets of roughly $58.48 million and total liabilities of $0.19 million. Equity stood at about $58.29 million, reflecting a substantial accumulated deficit (-$275.76 million) but a robust equity base supported by non-cash items and prior financing activities. The company carries a sizable PP&E footprint (primarily related to exploration properties and development assets) and a low level of current liabilities, yielding a very high reported current ratio (~16x).

Management commentary is not included in the provided transcript data, so explicit quotes are not available. Absent forward-looking guidance in the QQ2 filing, the key investable signals derive from the Livengood project trajectory, the cadence of capex and financing needs, and the gold price environment. The near-term investment thesis hinges on: (i) successful advancement or partnering for Livengood, (ii) favorable financing terms to fund ongoing exploration, and (iii) a supportive gold market that could unlock optionality in value for a long-dated, low-debt mining vehicle.