We hear from International Tower Hill (ITH.to) (THM) this morning that the pre-feasibility study expected for its Livengood gold project in WayUpNorth has been delayed again, with the PFS now due in the first half of 2013. It may in fact be better to say “delayed again and again and again”, because as we laid out in this post back in March, ITH has a pretty consistent record of delaying this PFS. In a nutshell:
- In June 2011 ITH said the PFS would be done by the end of 2011
- In November 2011 ITH said it would be done by the first half of 2012
- In March 2012 ITH said that it would be ready third quarter 2012
- And here were are today, with an ITH now calling the PFS for this time next year
And the met still seems to be the problem. Well, the met and the complete lack of trust anyone with half a brain should have in this company’s word these days, too.