Dahlman Rose Sees 144% Upside In International Tower Hill Mines (THM)

Dahlman Rose & Co. is out with a research report on shares of International Tower Hill Mines THM, and it sees nearly 145% upside in shares. It has a $24.27 price target and a Buy rating on shares. In a note to clients, Dahlman writes, "At THM's fully owned Livengood project in Alaska, a new mineral resource estimate for the Money Knob deposit has upgraded over 50% of the gold resource to the Measured category (vs. previous estimate of June 2010). At 0.5 g/t cut-off grade, the Money Knob deposit Measured resource is estimated at 7.4MM oz of Au (with an additional 3.2MM oz of Indicated and 2.7MM oz of Inferred Au). At a 0.7 g/t cut-off grade for a milling scenario, the project contains 4.7MM oz Measured resources at an average grade of 1.07 g/t (with an additional 2.0MM oz of Indicated and 1.5MM oz of Inferred). At a 0.3 g/t cut-off grade for a heap-leach operation, the project contains Measured and Indicated resources of 15.3MM oz at an average grade of 0.61 g/t gold. The drill program has been focused on infill drilling to confirm continuity and grade of the deposit. Drill results have also indicated potential future expansion of the Money Knob deposit at depth." At last check, shares of THM were up 20 cents to $10.12, a gain of 2.02% on 95,000 shares.