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Electrum Strategic Opportunities Fund II L.P. has acquired 1,152,091 common shares of International Tower Hill Mines Ltd (AMEX:THM), according to a recent SEC filing. The shares were purchased at a price of $0.4801 each, amounting to a total transaction value of $553,118. Following this acquisition, Electrum now holds 28,765,672 shares in the mining company. THM’s stock has shown a modest gain of ~3% year-to-date, despite maintaining a strong financial health score of 2.68 according to InvestingPro data.
This transaction was carried out by Electrum Strategic Opportunities Fund II L.P., along with its affiliates, including Electrum Strategic Opportunities Fund II GP L.P., ESOF II GP Ltd., and The Electrum Group LLC. These entities collectively exercise shared voting and investment discretion over the shares held by the fund. The company maintains exceptional liquidity with a current ratio of 10.37, though it remains unprofitable with earnings per share at -$0.02.
Electrum’s acquisition indicates a continued interest in International Tower Hill Mines, a company engaged in metal mining operations. Get deeper insights into THM’s financial health and access exclusive investment analysis with InvestingPro, which offers additional key metrics and investment tips.
In other recent news, International Tower Hill Mines Ltd. has entered into a consulting and stock option agreement with Phenom Ventures LLC. This agreement, disclosed in an SEC filing, aims to boost the visibility of the company’s Livengood Gold Project among investors. As part of the deal, Phenom will provide communication services to promote the project, and in exchange, International Tower Hill Mines will grant Phenom 2.5 million stock options priced at CAD$0.64. The stock options vest in stages, with 1 million options having vested immediately on December 2, 2024, and additional options set to vest in 2025 and 2026 based on specific performance criteria. The consulting agreement is scheduled to terminate on December 2, 2026, but may end earlier under certain conditions. Phenom is also required to safeguard the company’s confidential information throughout and beyond the agreement’s duration. This strategic move is part of the company’s efforts to communicate the potential of its project and attract further investment. The detailed terms of the agreement are outlined in the company’s SEC filing.
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