North of 60 Mining News - The mining newspaper for Alaska and Canada's North

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Junior grabs 100 percent of Terra, LMS

International Tower Hill hopes to rapidly advance Alaska projects in which it formerly shared ownership with AngloGold Ashanti


Last updated 6/29/2008 at Noon

International Tower Hill Mines Ltd. June 10 said it has entered into an agreement to acquire all of the interest of AngloGold Ashanti (U.S.A.) Exploration Inc. in the Terra and LMS projects in Alaska, plus certain other AngloGold rights, in exchange for 450,000 shares of the Vancouver, B.C.-based junior's stock.

Based on current share prices, the deal was valued at about $6 per ounce of Intern...

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