International Tower Hill Mines (THM) 10-K 9 Mar 22 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Mar. 01, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2021
Entity File Number	001-33638
Entity Registrant Name	INTERNATIONAL TOWER HILL MINES LTD.
Entity Incorporation, State or Country Code	A1
Entity Tax Identification Number	98-0668474
Entity Address, Address Line One	2710-200 Granville Street
Entity Address, City or Town	Vancouver
Entity Address, State or Province	BC
Entity Address, Country	CA
Entity Address, Postal Zip Code	V6C 1S4
City Area Code	604
Local Phone Number	683-6332
Title of 12(b) Security	Common Shares, no par value
Trading Symbol	THM
Security Exchange Name	NYSEAMER
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 139.1
Entity Common Stock, Shares Outstanding		194,908,184
Entity Central Index Key	0001134115
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false
Auditor Name	DAVIDSON & COMPANY LLP
Auditor Firm ID	731
Auditor Location	Vancouver, Canada

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 7,780,671	$ 13,049,293
Prepaid expenses and other	141,680	162,079
Total current assets	7,922,351	13,211,372
Property and equipment	7,465	7,832
Mineral property	55,375,124	55,375,124
Total assets	63,304,940	68,594,328
Current liabilities
Accounts payable	259,648	199,026
Accrued liabilities	320,233	293,965
Liabilities	579,881	492,991
Shareholders' equity
Share capital, no par value; unlimited number of authorized shares; 194,908,184 shares issued and outstanding at December 31, 2021 and 2020	288,032,132	288,032,132
Contributed surplus	35,989,922	35,454,805
Accumulated other comprehensive income	1,828,121	1,759,228
Deficit	(263,125,116)	(257,144,828)
Total shareholders' equity	62,725,059	68,101,337
Total liabilities and shareholders' equity	$ 63,304,940	$ 68,594,328

CONDENSED BALANCE SHEETS (paren

CONDENSED BALANCE SHEETS (parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
CONDENSED BALANCE SHEETS
Common Stock, No Par Value	$ 0	$ 0
Common Stock, Shares Authorized, Unlimited	Unlimited	Unlimited
Common Stock, Shares, Issued	194,908,184	194,908,184
Common Stock, Shares, Outstanding	194,908,184	194,908,184

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating Expenses
Consulting fees	$ 612,387	$ 472,413
Depreciation	367	7,602
Insurance	179,659	144,837
Investor relations	77,256	57,206
Mineral property exploration	3,517,540	2,364,899
Office	33,292	27,590
Other	17,181	17,774
Professional fees	210,594	219,268
Regulatory	178,264	138,191
Rent	135,372	135,762
Travel	18,464	20,450
Wages and benefits	935,073	808,837
Total operating expenses	(5,915,449)	(4,414,829)
Other income (expense)
Loss on foreign exchange	(101,818)	(191,071)
Interest income	20,260	76,361
Other income	16,719	10,821
Total other income (expense)	(64,839)	(103,889)
Net loss for the year	(5,980,288)	(4,518,718)
Other comprehensive income
Exchange difference on translating foreign operations	68,893	185,217
Total other comprehensive income for the year	68,893	185,217
Comprehensive loss for the year	$ (5,911,395)	$ (4,333,501)
Basic loss per share	$ (0.03)	$ (0.02)
Diluted loss per share	$ (0.03)	$ (0.02)
Weighted average number of shares outstanding - basic	194,908,184	189,870,444
Weighted average number of shares outstanding - diluted	194,908,184	189,870,444

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)	Common stock	Contributed surplus	Accumulated other comprehensive income	Deficit	Total
Balance at Dec. 31, 2019	$ 278,213,801	$ 35,069,274	$ 1,574,011	$ (252,626,110)	$ 62,230,976
Balance (in shares) at Dec. 31, 2019	187,573,671
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation-option	$ 0	90,914	0	0	90,914
Stock based compensation-DSU	0	294,617	0	0	294,617
Exchange difference on translating foreign operations	0	0	185,217	0	185,217
At-The-Market offering	$ 10,299,277	0	0	0	10,299,277
At-The-Market offering (in shares)	7,334,513
Share issuance costs	$ (480,946)	0	0	0	(480,946)
Net loss	0	0	0	(4,518,718)	(4,518,718)
Balance at Dec. 31, 2020	$ 288,032,132	35,454,805	1,759,228	(257,144,828)	$ 68,101,337
Balance (in shares) at Dec. 31, 2020	194,908,184				194,908,184
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation-option	$ 0	167,267	0	0	$ 167,267
Stock based compensation-DSU	0	367,850	0	0	367,850
Exchange difference on translating foreign operations	0	0	68,893	0	$ 68,893
At-The-Market offering (in shares)					0
Net loss	0	0	0	(5,980,288)	$ (5,980,288)
Balance at Dec. 31, 2021	$ 288,032,132	$ 35,989,922	$ 1,828,121	$ (263,125,116)	$ 62,725,059
Balance (in shares) at Dec. 31, 2021	194,908,184				194,908,184

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating Activities
Loss for the year	$ (5,980,288)	$ (4,518,718)
Add items not affecting cash:
Depreciation	367	7,602
Stock-based compensation-option	167,267	90,914
Stock-based compensation-DSU	367,850	294,617
Changes in non-cash working capital items:
Accounts receivable	18,770	94,795
Prepaid expenses	1,555	(14,447)
Accounts payable and accrued liabilities	86,964	156,302
Cash used in operating activities	(5,337,515)	(3,888,935)
Financing Activities
Issuance of common shares	0	10,299,277
Share issuance costs	0	(480,946)
Cash provided by financing activities	0	9,818,331
Effect of foreign exchange on cash and cash equivalents	68,893	182,276
Increase/(decrease) in cash and cash equivalents	(5,268,622)	6,111,672
Cash and cash equivalents, beginning of year	13,049,293	6,937,621
Cash and cash equivalents, end of year	$ 7,780,671	$ 13,049,293

GENERAL INFORMATION, NATURE OF

GENERAL INFORMATION, NATURE OF OPERATIONS	12 Months Ended
	Dec. 31, 2021
GENERAL INFORMATION, NATURE OF OPERATIONS
GENERAL INFORMATION, NATURE OF OPERATIONS	1. GENERAL INFORMATION, NATURE OF OPERATIONS International Tower Hill Mines Ltd. (“ITH” or the "Company") is incorporated under the laws of British Columbia, Canada. The Company’s head office address is 2710-200 Granville Street, Vancouver, British Columbia, Canada. International Tower Hill Mines Ltd. consists of ITH and its wholly owned subsidiaries Tower Hill Mines, Inc. (“TH Alaska”) (an Alaska corporation), Tower Hill Mines (US) LLC (“TH US”) (a Colorado limited liability company), and Livengood Placers, Inc. (“LPI”) (a Nevada corporation). The Company is in the business of acquiring, exploring and evaluating mineral properties, and either joint venturing or developing these properties further or disposing of them when the evaluation is completed. At December 31, 2021, the Company was in the exploration stage and controls a 100% interest in its Livengood Gold Project in Alaska, U.S.A. These consolidated financial statements have been prepared on a going-concern basis, which presumes the realization of assets and discharge of liabilities in the normal course of business for the foreseeable future. The Company will require significant additional financing to continue its operations in connection with advancing activities at the Livengood Gold Project and for the development of any mine that may be determined to be built at the Livengood Gold Project. There is no assurance that the Company will be able to obtain the additional financing required on acceptable terms, if at all. In addition, any significant delays in the issuance of required permits for the ongoing work at the Livengood Gold Project, or unexpected results in connection with the ongoing work, could result in the Company being required to raise additional funds to advance permitting efforts. The Company’s review of its financing options includes pursuing a future strategic alliance to assist in further development, permitting and future construction costs. Despite the Company’s success to date in raising significant equity financing to fund its operations, there is significant uncertainty that the Company will be able to secure any additional financing in the current or future equity markets. The amount of funds to be raised and the terms of any proposed equity financing that may be undertaken will be negotiated by management as opportunities to raise funds arise. Specific plans related to the use of proceeds will be devised once financing has been completed and management knows what funds will be available for these purposes. Due to this uncertainty, if the Company is unable to secure additional financing, it may be required to reduce all discretionary activities at the Project to preserve its working capital to fund anticipated non-discretionary expenditures beyond the 2022 fiscal year. As at March 8, 2022, management believes that the Company has sufficient financial resources to maintain its operations for the next twelve months. In March 2020, the World Health Organization declared the novel coronavirus 2019 (“COVID-19”) a global pandemic. This contagious disease outbreak, which has continued to spread, and any related adverse public health developments, has adversely affected workforces, economies, and financial markets globally, potentially leading to an economic downturn. While it is not possible for the Company to predict the duration or magnitude of the adverse results of the outbreak and its ultimate effects on the Company’s business, results of operations or ability to raise funds at this time, the COVID-19 pandemic has not had any material adverse effects on the Company.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation These consolidated financial statements are presented in United States dollars and have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). On March 8, 2022, the Board approved the consolidated financial statements dated December 31, 2021. Basis of consolidation These consolidated financial statements include the accounts of ITH and its wholly owned subsidiaries TH Alaska, TH US, and LPI. All intercompany transactions and balances have been eliminated. Significant judgments, estimates and assumptions The preparation of financial statements in accordance with U.S. GAAP requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the period. These judgments, estimates and assumptions are regularly evaluated and are based on management’s experience and knowledge of the relevant facts and circumstances. While management believes the estimates to be reasonable, actual results could differ from those estimates and could impact future results of operations and cash flows. The areas which require significant judgment and estimates that management has made at the financial reporting date, that could result in a material change to the carrying amounts of assets and liabilities, in the event actual results differ from the assumptions made, relate to, but are not limited to the following: Significant judgments ● ● ● Cash and cash equivalents Cash equivalents include highly liquid investments with original maturities of twelve months or less, and which are subject to an insignificant risk of change in value. Cash equivalents are held for the purpose of meeting short-term cash commitments rather than for investment or other purposes. Property and equipment On initial recognition, property and equipment are valued at cost. Property and equipment is subsequently measured at cost less accumulated depreciation, less any accumulated impairment losses, with the exception of land which is not depreciated. Depreciation is recorded over the estimated useful life of the assets at the following annual rates: Computer equipment - 30% declining balance; Computer software - 3 years straight line; Furniture and equipment -20% declining balance; and Leasehold improvements - straight-line over the lease term. Additions during the year are depreciated at one-half the annual rates. Depreciation methods, useful lives and residual values are reviewed at each financial year-end and adjusted if appropriate. Mineral properties and exploration and evaluation expenditures The Company’s mineral project is currently in the exploration and evaluation phase. Mineral property acquisition costs are capitalized when incurred. Mineral property exploration costs are expensed as incurred. At such time that the Company determines that a mineral property can be economically developed, subsequent mineral property expenses will be capitalized during the development of such property. The Company assesses interests in exploration properties for impairment when facts and circumstances suggest that the carrying amount of an asset may exceed its recoverable amount. Impairment analysis includes assessment of the following circumstances: a significant decrease in the market price of a long-lived asset or asset group; a significant adverse change in the extent or manner in which a long-lived asset or asset group is being used or in its physical condition; a significant adverse change in legal factors or in the business climate that could affect the value of a long-lived asset or asset group, including an adverse action or assessment by a regulator; an accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of a long-lived asset or asset group; a current-period operating or cash flow loss combined with a history of operating or cash flow losses or a projection or forecast that demonstrates continuing losses associated with the use of a long-lived asset or asset group; a current expectation that, more likely than not, a long-lived asset or asset group will be sold or otherwise disposed of significantly before the end of its previously estimated useful life. The term more likely than not refers to a level of likelihood that is more than 50%. Asset retirement obligations The Company records a liability based on the best estimate of costs for site closure and reclamation activities that the Company is legally or contractually required to remediate. The provision for closure and reclamation liabilities is estimated using expected cash flows based on engineering and environmental reports and accreted to full value over time through periodic charges to income. The Company does not have any material provisions for environmental rehabilitation as of December 31, 2021. Impairment of long-lived assets and long-lived assets to be disposed of Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount and the fair value less costs to sell. Income taxes The Company accounts for income taxes under the asset and liability method. Current income taxes are the expected taxes payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to taxes payable in respect of previous years. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under the asset and liability method, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion or the entire deferred tax asset will not be recognized. Net loss per share Basic loss per share is calculated using the weighted average number of common shares outstanding during the period. Diluted loss per share reflects the potential dilution that could occur if securities or contracts that may require the issuance of common shares in the future were converted, unless the impact is anti-dilutive. For the year ended December 31, 2021, this calculation proved to be anti-dilutive, and therefore the Company’s 2,947,049 stock options and 2,151,276 deferred share units (“DSUs”) outstanding at year-end have been excluded from the calculation. Stock-based compensation The Company follows the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Section 718 “Compensation - Stock Compensation”, which establishes accounting for equity-based compensation awards to be accounted for using the fair value method. Equity-settled share-based payment arrangements are initially measured at fair value at the date of grant and recorded within shareholders’ equity. Arrangements considered to be cash-settled are initially recorded at fair value and classified as accrued liabilities, and subsequently re-measured at fair value at each reporting date. The Company’s stock option plan is an equity-settled arrangement and the Company’s deferred share unit plan can be an equity or cash settled arrangement depending on the grant date term. The fair value at grant date of all share-based payments is recognized as compensation expense over the period for which benefits of services are expected to be derived, with a corresponding credit to shareholders’ equity or accrued liabilities depending on whether they are equity-settled or cash-settled. The Company estimates the fair value of stock options granted using the Black-Scholes option pricing model and estimate the expected forfeiture rate at the date of grant. The value of DSUs is estimated based on the quoted market price of the Company’s common shares. When awards are forfeited because non-market based vesting conditions are not satisfied, the expense previously recognized is proportionately reversed. Functional currency The Company’s consolidated financial statements are presented in U.S. dollars, which is the Company’s reporting currency. The functional currency of ITH is the Canadian (“CAD” or “C”) dollar and the functional currency of ITH Alaska, TH US and LPI is the U.S. dollar. In accordance with ASC 830, Foreign Currency Matters, the Company translates the assets and liabilities into U.S. dollars using the rate of exchange prevailing at the balance sheet date and the statements of operations and comprehensive loss and cash flows are translated at an average rate during the reporting period. Adjustments resulting from the translation from CAD into U.S. dollars are recorded in shareholders’ equity as part of accumulated other comprehensive income. Foreign currency transactions are translated into the functional currency of the respective currency of the entity or division, using the exchange rates prevailing at the dates of the transactions (spot exchange rate). Foreign exchange gains and losses resulting from the settlement of such transactions and from the re-measurement of monetary items denominated in foreign currency at period-end exchange rates are recognized in profit or loss. Non-monetary items that are not re-translated at period end are measured at historical cost (translated using the exchange rates at the transaction date), except for non-monetary items measured at fair value, which are translated using the exchange rates as at the date when fair value was determined. Gains and losses are recorded in the statement of operations and comprehensive loss. Recently adopted accounting pronouncements Accounting Standards Update No. 2019-12—Income Taxes (Topic 740). Recently issued accounting pronouncements Accounting Standards Update No. 2016-13—Measurement of Credit Losses on Financial Instruments Accounting Standards Update No. 2018-19—Codification Improvements to ASC 326, Financial Instruments—Credit Losses. These updates are effective beginning January 1, 2023, and the Company is currently evaluating ASU 2016-13 and ASU 2018-19 and the potential impact of adopting this guidance on its financial reporting.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2021
FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS	3. FAIR VALUE OF FINANCIAL INSTRUMENTS The carrying values of cash and cash equivalents, accounts payable and accrued liabilities approximate their fair values due to the short-term maturity of these financial instruments. Financial instruments measured at fair value are classified into one of three levels in the fair value hierarchy according to the significance of the inputs used in making the measurement. The three levels of the fair value hierarchy are as follows: ​ ● Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities; ● Level 2 – Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly; and, ● Level 3 – Inputs that are not based on observable market data. ​ There were no financial instruments measured at fair value. ​

MINERAL PROPERTY

MINERAL PROPERTY	12 Months Ended
	Dec. 31, 2021
MINERAL PROPERTY
MINERAL PROPERTY	4. MINERAL PROPERTY The Company had the following activity related to the mineral property: ​ ​ ​ ​ ​ Capitalized acquisition costs Amount Balance, December 31, 2019 ​ $ 55,375,124 Additions ​ — Balance, December 31, 2020 ​ $ 55,375,124 Additions ​ — Balance, December 31, 2021 ​ $ 55,375,124 ​ The following table presents costs incurred for exploration and evaluation activities for the years ended December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended Year ended ​ ​ December 31, 2021 ​ December 31, 2020 Exploration costs: ​ ​ Aircraft services ​ $ 8,400 ​ $ — Environmental ​ 185,330 ​ 169,704 Equipment and facilities rental ​ 61,409 ​ 54,945 Field costs ​ 327,075 ​ 70,254 Geological/geophysical ​ 2,121,323 ​ 1,437,530 Land maintenance & tenure ​ 709,922 ​ 563,243 Legal ​ 90,542 ​ 54,982 Transportation and travel ​ 13,539 ​ 14,241 Total expenditures for the year ​ $ 3,517,540 ​ $ 2,364,899 ​ Properties acquired from AngloGold, Alaska Pursuant to an Asset Purchase and Sale and Indemnity Agreement dated June 30, 2006, as amended on July 26, 2007 (the “AngloGold Agreement”), among the Company, AngloGold Ashanti (U.S.A.) Exploration Inc. (“AngloGold”) and TH Alaska, the Company acquired all of AngloGold’s interest in a portfolio of seven mineral exploration projects in Alaska and referred to as the Livengood, Chisna, Gilles, Coffee Dome, West Pogo, Blackshell, and Caribou properties (the “Sale Properties”) in exchange for a cash payment of $50,000 on August 4, 2006, and the issuance of 5,997,295 common shares, representing approximately 19.99% of the Company’s issued shares following the closing of the acquisition and two private placement financings raising an aggregate of C$11,479,348. As further consideration for the transfer of the Sale Properties, the Company granted to AngloGold a 90-day On December 11, 2014, the Company closed a private placement financing in which AngloGold elected not to participate. As a result of the shares issued in this private placement, AngloGold’s ownership in the Company was reduced to less than 10% and thus both AngloGold’s right to maintain its ownership percentage interest and its right of first offer on the Company’s Alaskan properties terminated upon the closing of the December 2014 private placement. Details of the Livengood Property (being the only Sale Property still held by the Company) are as follows: Livengood Property: The Livengood property is located in the Tintina gold belt approximately 113 kilometers (70 miles) north of Fairbanks, Alaska. The property consists of land leased from the Alaska Mental Health Trust, a number of smaller private mineral leases, Alaska state mining claims purchased or located by the Company and patented ground held by the Company. Details of the leases are as follows: a) a lease of the Alaska Mental Health Trust mineral rights having a term commencing July 1, 2004 and extending 19 years until June 30, 2023, subject to further extensions beyond June 30, 2023 by either commercial production or payment of an advance minimum royalty equal to 125% of the amount paid in year 19 and diligent pursuit of development. The lease requires minimum work expenditures and advance minimum royalties (all of which minimum royalties are recoverable from production royalties) which escalate annually with inflation. A net smelter return (“NSR”) production royalty of between 2.5% and 5.0% (depending upon the price of gold) is payable to the lessor with respect to the lands subject to this lease. In addition, an NSR production royalty of l% is payable to the lessor with respect to the unpatented federal mining claims subject to the lease described in b) below and an NSR production royalty of between 0.5% and 1.0% (depending upon the price of gold) is payable to the lessor with respect to the lands acquired by the Company as a result of the purchase of Livengood Placers, Inc. in December 2011. As of December 31, 2021, the Company has paid $3,993,856 from the inception of this lease. b) a lease of federal unpatented lode mining claims having an initial term of ten years commencing on April 21, 2003 and continuing for so long thereafter as advance minimum royalties are paid and mining related activities, including exploration, continue on the property or on adjacent properties controlled by the Company. The lease requires an advance minimum royalty of $50,000 on or before each anniversary date for the duration of the lease (all of which minimum royalties are recoverable from production royalties). An NSR production royalty of between 2% and 3% (depending on the price of gold) is payable to the lessors. The Company may purchase 1% of the royalty for $1,000,000 . As of December 31, 2021, the Company has paid $880,000 from the inception of this lease. c) a lease of patented lode claims having an initial term of ten years commencing January 18, 2007, and continuing for so long thereafter as advance minimum royalties are paid. The lease requires an advance minimum royalty of $20,000 on or before each anniversary date through January 18, 2017 and $25,000 on or before each subsequent anniversary (all of which minimum royalties are recoverable from production royalties). An NSR production royalty of 3% is payable to the lessors. The Company may purchase all interests of the lessors in the leased property (including the production royalty) for $1,000,000 (less all minimum and production royalties paid to the date of purchase), of which $500,000 is payable in cash over four years following the closing of the purchase and the balance of $500,000 is payable by way of the 3% NSR production royalty. The Company has acquired a 40% interest in the mining claims subject to the lease, providing the Company with a 40% interest in the lease. As of December 31, 2021, the Company has paid $265,000 from the inception of this lease. d) a lease of unpatented federal lode mining and federal unpatented placer claims having an initial term of ten years commencing on March 28, 2007, and continuing for so long thereafter as advance minimum royalties are paid and mining related activities, including exploration, continue on the property or on adjacent properties controlled by the Company. The lease requires an advance minimum royalty of $15,000 on or before each anniversary date for the duration of the lease (all of which minimum royalties are recoverable from production royalties). The Company is required to pay the lessor the additional sum of $250,000 upon making a positive production decision, of which $125,000 is payable within 120 days of the decision and $125,000 is payable within a year of the decision (all of which are recoverable from production royalties). An NSR production royalty of 2% is payable to the lessor. The Company may purchase all of the interest of the lessor in the leased property (including the production royalty) for $1,000,000 . As of December 31, 2021, the Company has paid $188,000 from the inception of this lease. Title to mineral properties The acquisition of title to mineral properties is a detailed and time-consuming process. The Company has taken steps to verify title to mineral properties in which it has an interest. Although the Company has taken every reasonable precaution to ensure that legal title to its properties is properly recorded in the name of the Company, there can be no assurance that such title will ultimately be secured.

ACCRUED LIABILITIES

ACCRUED LIABILITIES	12 Months Ended
	Dec. 31, 2021
ACCRUED LIABILITIES
ACCRUED LIABILITIES	5. ACCRUED LIABILITIES The following table presents the accrued liabilities balances at December 31, 2021 and 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2021 ​ 2020 Accrued liabilities ​ $ 202,982 ​ $ 227,459 Accrued salaries and benefits ​ 117,251 ​ 66,506 Total accrued liabilities ​ $ 320,233 ​ $ 293,965 ​ Accrued liabilities at December 31, 2021 include accruals for general corporate costs and project costs of $34,912 and $168,070, respectively. Accrued liabilities at December 31, 2020 include accruals for general corporate costs and project costs of $51,151 and $176,308, respectively.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2021
INCOME TAXES
INCOME TAXES	6. INCOME TAXES A reconciliation of income taxes at statutory rates with the reported taxes is as follows for the years ended December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2021 ​ 2020 Loss before income taxes ​ $ (5,980,288) ​ $ (4,518,718) ​ Statutory Canadian corporate tax rate ​ ​ 27.00 % 27.00 % ​ ​ ​ ​ ​ ​ Expected income tax (recovery) ​ $ (1,614,678) ​ $ (1,220,054) ​ Effect of change in tax rate ​ ​ 3,455,247 ​ ​ — ​ Share-based payments ​ ​ 123,866 ​ 104,093 ​ Unrecognized items for tax purposes ​ ​ (340,304) ​ ​ (129,854) ​ Difference in tax rates in other jurisdictions ​ ​ (85,531) ​ (115,057) ​ Adjustment to prior years provision versus statutory tax returns ​ ​ (7,996) ​ (7,789) ​ Change in valuation allowance ​ ​ (1,530,604) ​ 1,368,661 ​ Total income tax expense (recovery) ​ $ — ​ $ — ​ ​ The significant components of the Company’s deferred tax assets are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2021 ​ 2020 Deferred income tax assets (liabilities): ​ ​ Mineral properties ​ $ 16,711,128 ​ $ 18,750,505 Property and equipment ​ 10,464 ​ 10,365 Share issue costs ​ 83,928 ​ 118,756 Net operating losses available for future periods ​ 55,506,072 ​ 55,302,874 ​ ​ 72,311,592 ​ 74,182,500 Valuation allowance ​ (72,311,592) ​ (74,182,500) Net deferred tax asset ​ $ — ​ $ — ​ At December 31, 2021, the Company has available net operating losses for Canadian income tax purposes of approximately $23,013,000 and net operating losses for US income tax purposes of approximately $161,982,000 available for carry-forward to reduce future years’ taxable income, if not utilized, expiring as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Canada United States 2040 ​ $ 1,033,000 ​ $ 8,449,000 2039 ​ ​ 938,000 ​ ​ 7,743,000 2038 ​ ​ 388,000 ​ ​ 8,638,000 2037 ​ ​ 1,394,000 ​ ​ 8,800,000 2036 ​ ​ 1,383,000 ​ ​ 8,798,000 2035 ​ ​ 406,000 ​ ​ 10,703,000 2034 ​ ​ 1,694,000 ​ ​ 12,587,000 2033 ​ ​ 1,827,000 ​ ​ 14,208,000 2032 ​ ​ 2,629,000 ​ ​ 16,797,000 2031 ​ ​ 4,180,000 ​ ​ 40,825,000 2030 ​ ​ 2,829,000 ​ ​ 18,765,000 2029 ​ ​ 2,074,000 ​ ​ 2,973,000 2028 ​ ​ 1,253,000 ​ ​ 1,412,000 2027 ​ ​ 907,000 ​ ​ 1,284,000 2026 ​ ​ 78,000 ​ ​ — ​ ​ $ 23,013,000 ​ $ 161,982,000 ​ The Company also has available mineral resource expenses that are related to the Company’s exploration activities in the United States of approximately $117,054,000 which may be deductible for U.S. tax purposes. Future tax benefits, which may arise as a result of applying these deductions to taxable income, have not been recognized in these accounts due to the uncertainty of future taxable income.

SHARE CAPITAL

SHARE CAPITAL	12 Months Ended
	Dec. 31, 2021
SHARE CAPITAL
SHARE CAPITAL	7. SHARE CAPITAL Authorized The Company’s share capital consists of an unlimited number of authorized common shares without par value. At December 31, 2020 and 2021, there were 194,908,184 shares issued and outstanding. Share issuances There were no share issuances during the year ended December 31, 2021. On August 31, 2020, the Company entered into an At Market Issuance ("ATM") Sales Agreement with B. Riley Securities, Inc. ("B. Riley"), pursuant to which the Company was entitled, at its discretion and from time-to-time during the term of the sales agreement, to sell through B. Riley such number of common shares of the Company as would result in aggregate gross proceeds to the Company of up to $10,300,000 (the "Offering"). The Company would pay B. Riley a commission of up to 3% of the gross proceeds from the sale of common shares pursuant to the ATM Sales Agreement. During the year ended December 31, 2020, the Company issued 7,334,513 common shares pursuant to the Offering for gross proceeds of $10,299,277. Share issuance costs were $480,946 resulting in net proceeds of $9,818,331 from the Offering. Stock options The Company adopted an incentive stock option plan in 2006, as amended September 19, 2012 and re-approved by the Company’s shareholders on May 28, 2015, May 30, 2018, and May 25, 2021 (the “Stock Option Plan”). The essential elements of the Stock Option Plan provide that the aggregate number of common shares of the Company that may be issued pursuant to options granted under the Stock Option Plan and any other share-based compensation arrangements may not exceed 10% of the number of issued shares of the Company at the time of the granting of options. Options granted under the Stock Option Plan will have a maximum term of ten years. The exercise price of options granted under the Stock Option Plan shall be fixed in compliance with the applicable provisions of the Toronto Stock Exchange (“TSX”) Company Manual in force at the time of grant and, in any event, shall not be less than the closing price of the Company’s common shares on the TSX on the trading day immediately preceding the day on which the option is granted, or such other price as may be agreed to by the Company and accepted by the TSX. Options granted under the Stock Option Plan vest immediately, unless otherwise determined by the directors at the date of grant. During the year ended December 31, 2021, the Company granted a total of 240,000 incentive stock options to certain officers and employees of the Company to purchase common shares in the capital stock of the Company at an issue price of C$1.31 per share. Of the total 240,000 stock options granted, 150,000 were granted to Mr. Karl Hanneman, Chief Executive Officer. All of the options vest one-third one-third one-third During the year ended December 31, 2020, the Company granted a total of 255,000 incentive stock options to employees of the Company to purchase common shares in the capital stock of the Company at an issue price of C$0.92 per share. Of the total 255,000 stock options granted, 150,000 were granted to Mr. Karl Hanneman, Chief Executive Officer. All of the options vest one-third one-third one-third A summary of the status of the stock option plan as of December 31, 2021 and 2020 and changes during the fiscal years is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ Year Ended ​ ​ December 31, 2021 ​ ​ December 31, 2020 ​ ​ Weighted ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Average ​ Aggregate ​ ​ ​ ​ Average ​ Aggregate ​ ​ Number of ​ Exercise ​ Intrinsic ​ ​ Number of ​ Exercise ​ Intrinsic ​ ​ Options ​ Price (C$) ​ Value (C$) ​ ​ Options ​ Price (C$) ​ Value (C$) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, beginning of the year 2,707,049 ​ $ 0.94 ​ ​ ​ 2,452,049 ​ $ 0.94 ​ Granted 240,000 ​ $ 1.31 ​ ​ ​ 255,000 ​ $ 0.92 ​ Exercised — ​ ​ — ​ ​ ​ — ​ ​ — ​ Cancelled — ​ ​ — ​ ​ ​ — ​ ​ — ​ Balance, end of the year 2,947,049 ​ $ 0.97 ​ $ 235,200 ​ ​ 2,707,049 ​ $ 0.94 ​ $ 2,287,262 ​ The weighted average remaining life of options outstanding at December 31, 2021 was 1.9 years. Stock options outstanding are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ December 31, 2020 ​ Exercise Number of ​ ​ ​ Exercise Number of ​ Expiry Date ​ Price (C$) ​ Options ​ Exercisable ​ ​ Price (C$) ​ Options ​ Exercisable March 25, 2022* ​ $ 1.11 510,000 510,000 ​ ​ $ 1.11 510,000 510,000 March 25, 2022* ​ $ 0.73 270,000 270,000 ​ ​ $ 0.73 270,000 270,000 March 10, 2022 ​ $ 1.11 120,000 120,000 ​ ​ $ 1.11 120,000 120,000 March 16, 2023 ​ $ 1.00 580,000 580,000 ​ ​ $ 1.00 580,000 580,000 March 16, 2023 ​ $ 0.50 130,000 130,000 ​ ​ $ 0.50 130,000 130,000 June 9, 2023 ​ $ 1.00 30,000 30,000 ​ ​ $ 1.00 30,000 30,000 March 21, 2024 ​ $ 0.61 374,817 374,817 ​ ​ $ 0.61 374,817 374,817 February 1, 2025 ​ $ 1.35 250,000 250,000 ​ ​ $ 1.35 250,000 250,000 August 8, 2025 ​ $ 0.85 ​ 187,232 ​ 187,232 ​ ​ $ 0.85 ​ 187,232 ​ 187,232 May 27, 2026 ​ $ 0.92 ​ 255,000 ​ 170,000 ​ ​ $ 0.92 ​ 255,000 ​ 85,000 May 25, 2027 ​ $ 1.31 ​ 240,000 ​ 80,000 ​ ​ ​ — ​ — ​ — ​ ​ 2,947,049 2,702,049 ​ ​ 2,707,049 2,537,049 ● Expiry dates revised to March 25, 2022 ​ A summary of the non-vested options as of December 31, 2021 and 2020 and changes during the fiscal years ended December 31, 2021 and 2020 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average ​ ​ ​ ​ grant-date fair Non-vested options: ​ Number of options value (C$) Outstanding at December 31, 2019 — ​ ​ — Granted 255,000 ​ $ 0.76 Vested (85,000) ​ $ 0.76 Outstanding at December 31, 2020 170,000 ​ $ 0.76 Granted 240,000 ​ $ 0.98 Vested (165,000) ​ $ 0.87 Outstanding at December 31, 2021 245,000 ​ $ 0.91 ​ At December 31, 2021, there was C$98,577 of unrecognized compensation expense related to non-vested options outstanding. Deferred Share Unit Incentive Plan On April 4, 2017, the Company adopted a Deferred Share Unit Plan (the “DSU Plan”). The DSU Plan was approved by the Company’s shareholders on May 24, 2017 and re-approved by the Company’s shareholders on May 27, 2020 and May 25, 2021. As at December 31, 2021, the maximum aggregate number of common shares that could be issued under the DSU Plan and the Stock Option Plan was 19,490,818, representing 10% of the number of issued and outstanding common shares on that date (on a non-diluted basis). As at December 31, 2021, the Company had stock options to potentially acquire 2,947,049 common shares outstanding under the Stock Option Plan (representing approximately 1.51% of the outstanding common shares), leaving up to 16,543,769 common shares available for future grants under the DSU Plan and under the Stock Option Plan (combined) based on the number of outstanding common shares as at that date on a non-diluted basis (representing an aggregate of approximately 8.49% of the outstanding common shares). During the year ended December 31, 2021, in accordance with the DSU Plan, the Company granted each of the members of the Company’s Board of Directors (other than those directors nominated for election by Paulson & Co., Inc.) 63,359 DSUs for a total of 316,795 DSUs with a grant date fair value (defined as the weighted average of the prices at which the common shares traded on the exchange with the most volume for the five trading days immediately preceding the grant) of C$1.31 per DSU, representing C$83,000 per director or C$415,000 in the aggregate. During the year ended December 31, 2020, in accordance with the DSU Plan, the Company granted each of the members of the Company’s Board of Directors (other than those directors nominated for election by Paulson & Co., Inc.) 90,217 DSUs for a total of 451,085 DSUs with a grant date fair value (defined as the weighted average of the prices at which the common shares traded on the exchange with the most volume for the five trading days immediately preceding the grant) of C$0.92 per DSU, representing C$83,000 per director or C$415,000 in the aggregate. The DSUs entitle the holders to receive common shares of the Company’s stock without the payment of any consideration. The DSUs vested immediately upon being granted, but the common shares of stock underlying the DSUs are not deliverable to the grantee until the grantee is no longer serving on the Company’s Board of Directors. DSUs outstanding are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ Year Ended ​ ​ December 31, 2021 ​ ​ December 31, 2020 ​ ​ Weighted average ​ ​ ​ Weighted average ​ ​ Number of ​ grant-date fair ​ ​ Number of ​ grant-date fair ​ DSUs value (C$) ​ ​ DSUs value (C$) Balance, beginning of the year 1,834,481 ​ $ 0.81 ​ ​ 1,383,396 ​ $ 0.77 Issued 316,795 ​ $ 1.31 ​ ​ 451,085 ​ $ 0.92 Delivered — ​ ​ — ​ ​ — ​ ​ — Balance, end of the year 2,151,276 ​ $ 0.88 ​ ​ 1,834,481 ​ $ 0.81 ​ Share-based payments During the year ended December 31, 2021, the Company granted 240,000 stock options and 316,795 DSUs. Share-based payment compensation for the year ended December 31, 2021 total $535,117 ($167,267 related to stock options and $367,850 related to DSUs). Of the total expense for the year ended December 31, 2021, $380,878 was included in consulting fees, $143,957 was included in wages and benefits, and $10,282 was included in investor relations in the statement of operations and comprehensive loss. During the year ended December 31, 2020, the Company granted 255,000 stock options and 451,085 DSUs. Share-based payment compensation for the year ended December 31, 2020 totaled $385,531 ($90,914 related to stock options and $294,617 related to DSUs). Of the total expense for the year ended December 31, 2020, $304,205 was included in consulting fees, $74,870 was included in wages and benefits, and $6,456 was included in investor relations in the statement of operations and comprehensive loss. The following weighted average assumptions were used for the Black-Scholes option pricing model of the stock options: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended Year ended ​ ​ December 31, ​ December 31, ​ 2021 2020 Expected life of options ​ 6 years ​ 6 years ​ Risk-free interest rate ​ 0.99 % ​ 0.40 % Expected volatility ​ 81.22 % ​ 80.92 % Dividend rate ​ 0.00 % ​ 0.00 % Exercise price (C$) ​ $ 1.31 ​ $ 0.92 ​ ​ The expected volatility used in the Black-Scholes option pricing model is based on the historical volatility of the Company’s shares.

SEGMENT AND GEOGRAPHIC INFORMAT

SEGMENT AND GEOGRAPHIC INFORMATION	12 Months Ended
	Dec. 31, 2021
SEGMENT AND GEOGRAPHIC INFORMATION
SEGMENT AND GEOGRAPHIC INFORMATION	8. SEGMENT AND GEOGRAPHIC INFORMATION The Company operates in a single reportable operating segment, being the exploration and development of mineral properties. The following tables present selected financial information by geographic location: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Canada United States Total December 31, 2021 ​ ​ ​ Mineral property ​ $ — ​ $ 55,375,124 ​ $ 55,375,124 Property and equipment ​ 7,465 ​ — ​ 7,465 Current assets ​ 7,439,101 ​ 483,250 ​ 7,922,351 Total assets ​ $ 7,446,566 ​ $ 55,858,374 ​ $ 63,304,940 ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ ​ Mineral property ​ $ — ​ $ 55,375,124 ​ $ 55,375,124 Property and equipment ​ 7,832 ​ — ​ 7,832 Current assets ​ 12,862,068 ​ 349,304 ​ 13,211,372 Total assets ​ $ 12,869,900 ​ $ 55,724,428 ​ $ 68,594,328 ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended Year ended ​ ​ December 31, ​ December 31, ​ ​ 2021 ​ 2020 ​ ​ ​ ​ ​ ​ ​ Net loss for the year - Canada ​ $ (1,363,483) ​ $ (1,134,685) Net loss for the year - United States ​ (4,616,805) ​ (3,384,033) Net loss for the year ​ $ (5,980,288) ​ $ (4,518,718) ​

COMMITMENTS

COMMITMENTS	12 Months Ended
	Dec. 31, 2021
COMMITMENTS
COMMITMENTS	9. COMMITMENTS The following table discloses, as of December 31, 2021, the Company’s contractual obligations including anticipated mineral property payments and work commitments. Under the terms of the Company’s mineral property purchase agreements, mineral leases and the terms of the unpatented mineral claims held by it, the Company is required to make certain scheduled acquisition payments, incur certain levels of expenditures, make lease or advance royalty payments, make payments to government authorities and incur assessment work expenditures as summarized in the table below in order to maintain and preserve the Company’s interests in the related mineral properties. If the Company is unable or unwilling to make any such payments or incur any such expenditures, it is likely that the Company would lose or forfeit its rights to acquire or hold the related mineral properties. The following table assumes that the Company retains the rights to all of its current mineral properties, but does not exercise any lease purchase or royalty buyout options: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Payments Due by Year ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2027 and ​ ​ ​ ​ 2022 2023 2024 2025 2026 beyond Total Mineral Property Leases (1) ​ $ 426,972 ​ $ 513,715 ​ $ 519,136 ​ $ 524,625 ​ $ 530,183 ​ $ 535,810 ​ $ 3,050,441 Mining Claim Government Fees ​ 205,720 ​ 205,720 ​ 205,720 ​ 205,720 ​ 205,720 ​ 205,720 ​ 1,234,320 Total ​ $ 632,692 ​ $ 719,435 ​ $ 724,856 ​ $ 730,345 ​ $ 735,903 ​ $ 741,530 ​ $ 4,284,761 1. Does not include required work expenditures, as it is assumed that the required expenditure level is significantly below the work for which will actually be carried out by the Company. Does not include potential royalties that may be payable (other than annual minimum royalty payments). See Note 4.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2021
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	10. RELATED PARTY TRANSACTIONS On August 31, 2020, the Company entered into an At Market Issuance (“ATM”) Sales Agreement with B. Riley Securities, Inc. (“B. Riley”), pursuant to which the Company was entitled, at its discretion and from time-to-time during the term of the sales agreement, to sell through B. Riley such number of common shares of the Company as would result in aggregate gross proceeds to the Company of up to $10,300,000 (the “Offering”). No offers or sales of common shares were made in Canada through the facilities of the TSX or other trading markets. On September 2, 2020, the Company announced that its existing three largest shareholders had each taken their pro-rata share of the Offering, resulting in the issuance of 4,490,997 common shares (representing 2% of the 187,573,671 shares previously issued and outstanding) at the September 1, 2020 closing market price of $1.40 per share for aggregate gross proceeds of $6,287,396. ​

LEASES

LEASES	12 Months Ended
	Dec. 31, 2021
LEASES
LEASES	11. LEASES On December 12, 2019, the Company entered into a one-year operating lease agreement (for the lease period of January 1, 2020 through December 31, 2020) of the Fairbanks office. After the initial one-year lease period, the agreement has continued on a month-to-month basis. Therefore, the Company has elected the short-term lease recognition exemption for the office lease. Accordingly, office lease costs will continue to be reported as rent expense on the Consolidated Statements of Operations and Comprehensive Loss and the Company will not recognize a right-of-use (ROU) asset and lease liability on the Consolidated Balance Sheets.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation	Basis of presentation These consolidated financial statements are presented in United States dollars and have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). On March 8, 2022, the Board approved the consolidated financial statements dated December 31, 2021.
Basis of consolidation	Basis of consolidation These consolidated financial statements include the accounts of ITH and its wholly owned subsidiaries TH Alaska, TH US, and LPI. All intercompany transactions and balances have been eliminated.
Significant judgments, estimates and assumptions	Significant judgments, estimates and assumptions The preparation of financial statements in accordance with U.S. GAAP requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the period. These judgments, estimates and assumptions are regularly evaluated and are based on management’s experience and knowledge of the relevant facts and circumstances. While management believes the estimates to be reasonable, actual results could differ from those estimates and could impact future results of operations and cash flows. The areas which require significant judgment and estimates that management has made at the financial reporting date, that could result in a material change to the carrying amounts of assets and liabilities, in the event actual results differ from the assumptions made, relate to, but are not limited to the following: Significant judgments ● ● ●
Cash and cash equivalents	Cash and cash equivalents Cash equivalents include highly liquid investments with original maturities of twelve months or less, and which are subject to an insignificant risk of change in value. Cash equivalents are held for the purpose of meeting short-term cash commitments rather than for investment or other purposes.
Property and equipment	Property and equipment On initial recognition, property and equipment are valued at cost. Property and equipment is subsequently measured at cost less accumulated depreciation, less any accumulated impairment losses, with the exception of land which is not depreciated. Depreciation is recorded over the estimated useful life of the assets at the following annual rates: Computer equipment - 30% declining balance; Computer software - 3 years straight line; Furniture and equipment -20% declining balance; and Leasehold improvements - straight-line over the lease term. Additions during the year are depreciated at one-half the annual rates. Depreciation methods, useful lives and residual values are reviewed at each financial year-end and adjusted if appropriate.
Mineral properties and exploration and evaluation expenditures	Mineral properties and exploration and evaluation expenditures The Company’s mineral project is currently in the exploration and evaluation phase. Mineral property acquisition costs are capitalized when incurred. Mineral property exploration costs are expensed as incurred. At such time that the Company determines that a mineral property can be economically developed, subsequent mineral property expenses will be capitalized during the development of such property. The Company assesses interests in exploration properties for impairment when facts and circumstances suggest that the carrying amount of an asset may exceed its recoverable amount. Impairment analysis includes assessment of the following circumstances: a significant decrease in the market price of a long-lived asset or asset group; a significant adverse change in the extent or manner in which a long-lived asset or asset group is being used or in its physical condition; a significant adverse change in legal factors or in the business climate that could affect the value of a long-lived asset or asset group, including an adverse action or assessment by a regulator; an accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of a long-lived asset or asset group; a current-period operating or cash flow loss combined with a history of operating or cash flow losses or a projection or forecast that demonstrates continuing losses associated with the use of a long-lived asset or asset group; a current expectation that, more likely than not, a long-lived asset or asset group will be sold or otherwise disposed of significantly before the end of its previously estimated useful life. The term more likely than not refers to a level of likelihood that is more than 50%.
Asset retirement obligations	Asset retirement obligations The Company records a liability based on the best estimate of costs for site closure and reclamation activities that the Company is legally or contractually required to remediate. The provision for closure and reclamation liabilities is estimated using expected cash flows based on engineering and environmental reports and accreted to full value over time through periodic charges to income. The Company does not have any material provisions for environmental rehabilitation as of December 31, 2021.
Impairment of long-lived assets and long-lived assets to be disposed of	Impairment of long-lived assets and long-lived assets to be disposed of Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount and the fair value less costs to sell.
Income taxes	Income taxes The Company accounts for income taxes under the asset and liability method. Current income taxes are the expected taxes payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to taxes payable in respect of previous years. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under the asset and liability method, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion or the entire deferred tax asset will not be recognized.
Net loss per share	Net loss per share Basic loss per share is calculated using the weighted average number of common shares outstanding during the period. Diluted loss per share reflects the potential dilution that could occur if securities or contracts that may require the issuance of common shares in the future were converted, unless the impact is anti-dilutive. For the year ended December 31, 2021, this calculation proved to be anti-dilutive, and therefore the Company’s 2,947,049 stock options and 2,151,276 deferred share units (“DSUs”) outstanding at year-end have been excluded from the calculation.
Stock-based compensation	Stock-based compensation The Company follows the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Section 718 “Compensation - Stock Compensation”, which establishes accounting for equity-based compensation awards to be accounted for using the fair value method. Equity-settled share-based payment arrangements are initially measured at fair value at the date of grant and recorded within shareholders’ equity. Arrangements considered to be cash-settled are initially recorded at fair value and classified as accrued liabilities, and subsequently re-measured at fair value at each reporting date. The Company’s stock option plan is an equity-settled arrangement and the Company’s deferred share unit plan can be an equity or cash settled arrangement depending on the grant date term. The fair value at grant date of all share-based payments is recognized as compensation expense over the period for which benefits of services are expected to be derived, with a corresponding credit to shareholders’ equity or accrued liabilities depending on whether they are equity-settled or cash-settled. The Company estimates the fair value of stock options granted using the Black-Scholes option pricing model and estimate the expected forfeiture rate at the date of grant. The value of DSUs is estimated based on the quoted market price of the Company’s common shares. When awards are forfeited because non-market based vesting conditions are not satisfied, the expense previously recognized is proportionately reversed.
Functional currency	Functional currency The Company’s consolidated financial statements are presented in U.S. dollars, which is the Company’s reporting currency. The functional currency of ITH is the Canadian (“CAD” or “C”) dollar and the functional currency of ITH Alaska, TH US and LPI is the U.S. dollar. In accordance with ASC 830, Foreign Currency Matters, the Company translates the assets and liabilities into U.S. dollars using the rate of exchange prevailing at the balance sheet date and the statements of operations and comprehensive loss and cash flows are translated at an average rate during the reporting period. Adjustments resulting from the translation from CAD into U.S. dollars are recorded in shareholders’ equity as part of accumulated other comprehensive income. Foreign currency transactions are translated into the functional currency of the respective currency of the entity or division, using the exchange rates prevailing at the dates of the transactions (spot exchange rate). Foreign exchange gains and losses resulting from the settlement of such transactions and from the re-measurement of monetary items denominated in foreign currency at period-end exchange rates are recognized in profit or loss. Non-monetary items that are not re-translated at period end are measured at historical cost (translated using the exchange rates at the transaction date), except for non-monetary items measured at fair value, which are translated using the exchange rates as at the date when fair value was determined. Gains and losses are recorded in the statement of operations and comprehensive loss.
Recently adopted accounting pronouncements	Recently adopted accounting pronouncements Accounting Standards Update No. 2019-12—Income Taxes (Topic 740).
Recently issued accounting pronouncements	Recently issued accounting pronouncements Accounting Standards Update No. 2016-13—Measurement of Credit Losses on Financial Instruments Accounting Standards Update No. 2018-19—Codification Improvements to ASC 326, Financial Instruments—Credit Losses. These updates are effective beginning January 1, 2023, and the Company is currently evaluating ASU 2016-13 and ASU 2018-19 and the potential impact of adopting this guidance on its financial reporting.

MINERAL PROPERTY (Tables)

MINERAL PROPERTY (Tables)	12 Months Ended
	Dec. 31, 2021
MINERAL PROPERTY
Schedule of activity related to the mineral property	The Company had the following activity related to the mineral property: ​ ​ ​ ​ ​ Capitalized acquisition costs Amount Balance, December 31, 2019 ​ $ 55,375,124 Additions ​ — Balance, December 31, 2020 ​ $ 55,375,124 Additions ​ — Balance, December 31, 2021 ​ $ 55,375,124
Schedule of costs incurred for exploration and evaluation activities	The following table presents costs incurred for exploration and evaluation activities for the years ended December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended Year ended ​ ​ December 31, 2021 ​ December 31, 2020 Exploration costs: ​ ​ Aircraft services ​ $ 8,400 ​ $ — Environmental ​ 185,330 ​ 169,704 Equipment and facilities rental ​ 61,409 ​ 54,945 Field costs ​ 327,075 ​ 70,254 Geological/geophysical ​ 2,121,323 ​ 1,437,530 Land maintenance & tenure ​ 709,922 ​ 563,243 Legal ​ 90,542 ​ 54,982 Transportation and travel ​ 13,539 ​ 14,241 Total expenditures for the year ​ $ 3,517,540 ​ $ 2,364,899

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2021
ACCRUED LIABILITIES
Schedule of accrued liabilities	The following table presents the accrued liabilities balances at December 31, 2021 and 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2021 ​ 2020 Accrued liabilities ​ $ 202,982 ​ $ 227,459 Accrued salaries and benefits ​ 117,251 ​ 66,506 Total accrued liabilities ​ $ 320,233 ​ $ 293,965

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2021
INCOME TAXES
Schedule of reconciliation of income taxes at statutory rates	A reconciliation of income taxes at statutory rates with the reported taxes is as follows for the years ended December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2021 ​ 2020 Loss before income taxes ​ $ (5,980,288) ​ $ (4,518,718) ​ Statutory Canadian corporate tax rate ​ ​ 27.00 % 27.00 % ​ ​ ​ ​ ​ ​ Expected income tax (recovery) ​ $ (1,614,678) ​ $ (1,220,054) ​ Effect of change in tax rate ​ ​ 3,455,247 ​ ​ — ​ Share-based payments ​ ​ 123,866 ​ 104,093 ​ Unrecognized items for tax purposes ​ ​ (340,304) ​ ​ (129,854) ​ Difference in tax rates in other jurisdictions ​ ​ (85,531) ​ (115,057) ​ Adjustment to prior years provision versus statutory tax returns ​ ​ (7,996) ​ (7,789) ​ Change in valuation allowance ​ ​ (1,530,604) ​ 1,368,661 ​ Total income tax expense (recovery) ​ $ — ​ $ — ​ ​
Schedule of significant components of the deferred tax assets	The significant components of the Company’s deferred tax assets are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2021 ​ 2020 Deferred income tax assets (liabilities): ​ ​ Mineral properties ​ $ 16,711,128 ​ $ 18,750,505 Property and equipment ​ 10,464 ​ 10,365 Share issue costs ​ 83,928 ​ 118,756 Net operating losses available for future periods ​ 55,506,072 ​ 55,302,874 ​ ​ 72,311,592 ​ 74,182,500 Valuation allowance ​ (72,311,592) ​ (74,182,500) Net deferred tax asset ​ $ — ​ $ —
Schedule of operating loss carryforwards	At December 31, 2021, the Company has available net operating losses for Canadian income tax purposes of approximately $23,013,000 and net operating losses for US income tax purposes of approximately $161,982,000 available for carry-forward to reduce future years’ taxable income, if not utilized, expiring as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Canada United States 2040 ​ $ 1,033,000 ​ $ 8,449,000 2039 ​ ​ 938,000 ​ ​ 7,743,000 2038 ​ ​ 388,000 ​ ​ 8,638,000 2037 ​ ​ 1,394,000 ​ ​ 8,800,000 2036 ​ ​ 1,383,000 ​ ​ 8,798,000 2035 ​ ​ 406,000 ​ ​ 10,703,000 2034 ​ ​ 1,694,000 ​ ​ 12,587,000 2033 ​ ​ 1,827,000 ​ ​ 14,208,000 2032 ​ ​ 2,629,000 ​ ​ 16,797,000 2031 ​ ​ 4,180,000 ​ ​ 40,825,000 2030 ​ ​ 2,829,000 ​ ​ 18,765,000 2029 ​ ​ 2,074,000 ​ ​ 2,973,000 2028 ​ ​ 1,253,000 ​ ​ 1,412,000 2027 ​ ​ 907,000 ​ ​ 1,284,000 2026 ​ ​ 78,000 ​ ​ — ​ ​ $ 23,013,000 ​ $ 161,982,000 ​

SHARE CAPITAL (Tables)

SHARE CAPITAL (Tables)	12 Months Ended
	Dec. 31, 2021
SHARE CAPITAL
Schedule of stock option granted	A summary of the status of the stock option plan as of December 31, 2021 and 2020 and changes during the fiscal years is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ Year Ended ​ ​ December 31, 2021 ​ ​ December 31, 2020 ​ ​ Weighted ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Average ​ Aggregate ​ ​ ​ ​ Average ​ Aggregate ​ ​ Number of ​ Exercise ​ Intrinsic ​ ​ Number of ​ Exercise ​ Intrinsic ​ ​ Options ​ Price (C$) ​ Value (C$) ​ ​ Options ​ Price (C$) ​ Value (C$) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, beginning of the year 2,707,049 ​ $ 0.94 ​ ​ ​ 2,452,049 ​ $ 0.94 ​ Granted 240,000 ​ $ 1.31 ​ ​ ​ 255,000 ​ $ 0.92 ​ Exercised — ​ ​ — ​ ​ ​ — ​ ​ — ​ Cancelled — ​ ​ — ​ ​ ​ — ​ ​ — ​ Balance, end of the year 2,947,049 ​ $ 0.97 ​ $ 235,200 ​ ​ 2,707,049 ​ $ 0.94 ​ $ 2,287,262 ​
Schedule of stock options outstanding	Stock options outstanding are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ December 31, 2020 ​ Exercise Number of ​ ​ ​ Exercise Number of ​ Expiry Date ​ Price (C$) ​ Options ​ Exercisable ​ ​ Price (C$) ​ Options ​ Exercisable March 25, 2022* ​ $ 1.11 510,000 510,000 ​ ​ $ 1.11 510,000 510,000 March 25, 2022* ​ $ 0.73 270,000 270,000 ​ ​ $ 0.73 270,000 270,000 March 10, 2022 ​ $ 1.11 120,000 120,000 ​ ​ $ 1.11 120,000 120,000 March 16, 2023 ​ $ 1.00 580,000 580,000 ​ ​ $ 1.00 580,000 580,000 March 16, 2023 ​ $ 0.50 130,000 130,000 ​ ​ $ 0.50 130,000 130,000 June 9, 2023 ​ $ 1.00 30,000 30,000 ​ ​ $ 1.00 30,000 30,000 March 21, 2024 ​ $ 0.61 374,817 374,817 ​ ​ $ 0.61 374,817 374,817 February 1, 2025 ​ $ 1.35 250,000 250,000 ​ ​ $ 1.35 250,000 250,000 August 8, 2025 ​ $ 0.85 ​ 187,232 ​ 187,232 ​ ​ $ 0.85 ​ 187,232 ​ 187,232 May 27, 2026 ​ $ 0.92 ​ 255,000 ​ 170,000 ​ ​ $ 0.92 ​ 255,000 ​ 85,000 May 25, 2027 ​ $ 1.31 ​ 240,000 ​ 80,000 ​ ​ ​ — ​ — ​ — ​ ​ 2,947,049 2,702,049 ​ ​ 2,707,049 2,537,049 ● Expiry dates revised to March 25, 2022 ​
Schedule of non-vested share activity	A summary of the non-vested options as of December 31, 2021 and 2020 and changes during the fiscal years ended December 31, 2021 and 2020 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average ​ ​ ​ ​ grant-date fair Non-vested options: ​ Number of options value (C$) Outstanding at December 31, 2019 — ​ ​ — Granted 255,000 ​ $ 0.76 Vested (85,000) ​ $ 0.76 Outstanding at December 31, 2020 170,000 ​ $ 0.76 Granted 240,000 ​ $ 0.98 Vested (165,000) ​ $ 0.87 Outstanding at December 31, 2021 245,000 ​ $ 0.91
Schedule of deferred share units outstanding	DSUs outstanding are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ Year Ended ​ ​ December 31, 2021 ​ ​ December 31, 2020 ​ ​ Weighted average ​ ​ ​ Weighted average ​ ​ Number of ​ grant-date fair ​ ​ Number of ​ grant-date fair ​ DSUs value (C$) ​ ​ DSUs value (C$) Balance, beginning of the year 1,834,481 ​ $ 0.81 ​ ​ 1,383,396 ​ $ 0.77 Issued 316,795 ​ $ 1.31 ​ ​ 451,085 ​ $ 0.92 Delivered — ​ ​ — ​ ​ — ​ ​ — Balance, end of the year 2,151,276 ​ $ 0.88 ​ ​ 1,834,481 ​ $ 0.81
Schedule of fair value assumption	The following weighted average assumptions were used for the Black-Scholes option pricing model of the stock options: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended Year ended ​ ​ December 31, ​ December 31, ​ 2021 2020 Expected life of options ​ 6 years ​ 6 years ​ Risk-free interest rate ​ 0.99 % ​ 0.40 % Expected volatility ​ 81.22 % ​ 80.92 % Dividend rate ​ 0.00 % ​ 0.00 % Exercise price (C$) ​ $ 1.31 ​ $ 0.92 ​

SEGMENT AND GEOGRAPHIC INFORM_2

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2021
SEGMENT AND GEOGRAPHIC INFORMATION
Schedule of financial information by geographic location	The Company operates in a single reportable operating segment, being the exploration and development of mineral properties. The following tables present selected financial information by geographic location: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Canada United States Total December 31, 2021 ​ ​ ​ Mineral property ​ $ — ​ $ 55,375,124 ​ $ 55,375,124 Property and equipment ​ 7,465 ​ — ​ 7,465 Current assets ​ 7,439,101 ​ 483,250 ​ 7,922,351 Total assets ​ $ 7,446,566 ​ $ 55,858,374 ​ $ 63,304,940 ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ ​ Mineral property ​ $ — ​ $ 55,375,124 ​ $ 55,375,124 Property and equipment ​ 7,832 ​ — ​ 7,832 Current assets ​ 12,862,068 ​ 349,304 ​ 13,211,372 Total assets ​ $ 12,869,900 ​ $ 55,724,428 ​ $ 68,594,328 ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended Year ended ​ ​ December 31, ​ December 31, ​ ​ 2021 ​ 2020 ​ ​ ​ ​ ​ ​ ​ Net loss for the year - Canada ​ $ (1,363,483) ​ $ (1,134,685) Net loss for the year - United States ​ (4,616,805) ​ (3,384,033) Net loss for the year ​ $ (5,980,288) ​ $ (4,518,718)

COMMITMENTS (Tables)

COMMITMENTS (Tables)	12 Months Ended
	Dec. 31, 2021
COMMITMENTS
Schedule of Contractual obligations including anticipated mineral property payments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Payments Due by Year ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2027 and ​ ​ ​ ​ 2022 2023 2024 2025 2026 beyond Total Mineral Property Leases (1) ​ $ 426,972 ​ $ 513,715 ​ $ 519,136 ​ $ 524,625 ​ $ 530,183 ​ $ 535,810 ​ $ 3,050,441 Mining Claim Government Fees ​ 205,720 ​ 205,720 ​ 205,720 ​ 205,720 ​ 205,720 ​ 205,720 ​ 1,234,320 Total ​ $ 632,692 ​ $ 719,435 ​ $ 724,856 ​ $ 730,345 ​ $ 735,903 ​ $ 741,530 ​ $ 4,284,761 1. Does not include required work expenditures, as it is assumed that the required expenditure level is significantly below the work for which will actually be carried out by the Company. Does not include potential royalties that may be payable (other than annual minimum royalty payments). See Note 4.

GENERAL INFORMATION, NATURE O_2

GENERAL INFORMATION, NATURE OF OPERATIONS (Details)	Dec. 31, 2021
Livengood Property Purchase Obligation
General Information Nature And Continuance Of Operations [Line Items]
Noncontrolling interest ownership percentage by parent	100.00%

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Dec. 31, 2021shares
Stock Options
Property, Plant and Equipment [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,947,049
Deferred Share Units
Property, Plant and Equipment [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,151,276
Computer equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Depreciation Methods	30% declining balance
Computer software
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Depreciation Methods	3 years straight line
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Depreciation Methods	20% declining balance
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Depreciation Methods	straight-line over the lease term

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details)	Dec. 31, 2021USD ($)
Financial assets:
Assets measured at fair value	$ 0

MINERAL PROPERTY (Details)

MINERAL PROPERTY (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
MINERAL PROPERTY
Balance, at the beginning of the period	$ 55,375,124	$ 55,375,124
Additions	0	0
Balance, at the end of the period	$ 55,375,124	$ 55,375,124

MINERAL PROPERTY - Costs incurr

MINERAL PROPERTY - Costs incurred for exploration and evaluation activities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Exploration costs:
Aircraft services	$ 8,400	$ 0
Environmental	185,330	169,704
Equipment and facilities rental	61,409	54,945
Field costs	327,075	70,254
Geological/geophysical	2,121,323	1,437,530
Land maintenance and tenure	709,922	563,243
Legal	90,542	54,982
Transportation and travel	13,539	14,241
Total expenditures for the year	$ 3,517,540	$ 2,364,899

MINERAL PROPERTY - Additional I

MINERAL PROPERTY - Additional Information (Details)	Dec. 11, 2014	Aug. 04, 2006USD ($)	Jul. 26, 2007CAD ($)shares	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Issuance of common shares				$ 0	$ 10,299,277
AngloGold
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Payments to Acquire Businesses, Gross		$ 50,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares			5,997,295
Business Combination Equity Interest Percentage In Entity By Acquired Entity			19.99%
Business Combination Right Of First Offer Period	90 days
Business Combination Equity Interest Falling Below Specific Percentage Resulting In Termination Of Right Of First Offer	10.00%		10.00%
Private Placement | AngloGold
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Issuance of common shares			$ 11,479,348
Livengood Property | Unpatented Federal Lode Mining And Federal Unpatented Placer Claims
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Mining properties lease operating expense				188,000
Advance royalties				15,000
Payments for Royalties				1,000,000
Livengood Property | Patented Lode Claims
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Portion Of Cash Payments Payable To Acquire Royalty Interests In Mining Properties				500,000
Balance Portion Of Payments To Acquire Royalty Interests In Mining Properties Payable By Way Of Net Smelter Return				500,000
Mining properties lease operating expense				265,000
Payments for Royalties				$ 1,000,000
Percentage of mining claims acquired subject to lease				40.00%
Percentage of leasehold interest				40.00%
Livengood Property | Alaska Mental Health Trust Mineral Rights
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Mining properties lease operating expense				$ 3,993,856
Minimum Royalty Payment Percentage				125.00%
Lessor, Operating Lease, Renewal Term				19 years
Lessor, Operating Lease, Term of Contract				19 years
Livengood Property | Federal Unpatented Lode Mining Claims
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Mining properties lease operating expense				$ 880,000
Livengood Property | Production Royalty | Unpatented Federal Lode Mining And Federal Unpatented Placer Claims
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Balance Portion Of Payments To Acquire Royalty Interests In Mining Properties Payable By Way Of Net Smelter Return				125,000
Amount Payable To Lessor On Positive Production Decision				250,000
Portion Of Amount Payable To Lessor On Positive Production Decision Within Prescribed Period Of Decision				$ 125,000
Minimum royalty percentage				2.00%
Livengood Property | Production Royalty | Patented Lode Claims
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Net Smelter Return Base For Payments To Acquire Royalty Interests In Mining Properties				3.00%
Minimum royalty percentage				3.00%
Livengood Property | Production Royalty | Federal Unpatented Lode Mining Claims
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Portion of royalty to be purchased by the entity				1.00%
Payments for Royalties				$ 1,000,000
Livengood Property | Maximum | Unpatented Federal Lode Mining And Federal Unpatented Placer Claims
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Prescribed Period From Decision On Positive Production For Payment Of First Half Amount Payable To Lessor				120 days
Livengood Property | Maximum | Alaska Mental Health Trust Mineral Rights
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Minimum royalty percentage				5.00%
Livengood Property | Maximum | Production Royalty | Alaska Mental Health Trust Mineral Rights
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Minimum royalty percentage				1.00%
Livengood Property | Maximum | Production Royalty | Federal Unpatented Lode Mining Claims
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Minimum royalty percentage				3.00%
Livengood Property | Minimum | Alaska Mental Health Trust Mineral Rights
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Minimum royalty percentage				2.50%
Livengood Property | Minimum | Advance Royalties | Patented Lode Claims
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Advance royalties				$ 20,000
Livengood Property | Minimum | Advance Royalties | Federal Unpatented Lode Mining Claims
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Advance royalties				50,000
Livengood Property | Minimum | Advance Royalties | On or Befor Each Anniversary | Patented Lode Claims
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Advance royalties				$ 25,000
Livengood Property | Minimum | Production Royalty | Alaska Mental Health Trust Mineral Rights
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Minimum royalty percentage				0.50%
Livengood Property | Minimum | Production Royalty | Federal Unpatented Lode Mining Claims
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Minimum royalty percentage				2.00%

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
ACCRUED LIABILITIES
Accrued liabilities	$ 202,982	$ 227,459
Accrued salaries and benefits	117,251	66,506
Total accrued liabilities	$ 320,233	$ 293,965

ACCRUED LIABILITIES - Additiona

ACCRUED LIABILITIES - Additional Information (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
ACCRUED LIABILITIES
Accrued general corporate cost current	$ 34,912	$ 51,151
Accrued project cost current	$ 168,070	$ 176,308

INCOME TAXES - Statutory rates

INCOME TAXES - Statutory rates and components of deferred tax assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of income taxes at statutory rates with the reported taxes
Loss before income taxes	$ (5,980,288)	$ (4,518,718)
Statutory Canadian corporate tax rate	27.00%	27.00%
Expected income tax (recovery)	$ (1,614,678)	$ (1,220,054)
Effect of change in tax rate	3,455,247	0
Share-based payments	123,866	104,093
Unrecognized items for tax purposes	(340,304)	(129,854)
Difference in tax rates in other jurisdictions	(85,531)	(115,057)
Adjustment to prior years provision versus statutory tax returns	(7,996)	(7,789)
Change in valuation allowance	(1,530,604)	1,368,661
Total income tax expense (recovery)	0	0
Deferred income tax assets (liabilities):
Mineral properties	16,711,128	18,750,505
Property and equipment	10,464	10,365
Share issue costs	83,928	118,756
Net operating losses available for future periods	55,506,072	55,302,874
Deferred income tax asset before valuation	72,311,592	74,182,500
Valuation allowance	(72,311,592)	(74,182,500)
Net deferred tax asset	$ 0	$ 0

INCOME TAXES - Net operating lo

INCOME TAXES - Net operating losses (Details)	Dec. 31, 2021USD ($)
Canada
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 23,013,000
Canada | 2040
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	1,033,000
Canada | 2039
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	938,000
Canada | 2038
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	388,000
Canada | 2037
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	1,394,000
Canada | 2036
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	1,383,000
Canada | 2035
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	406,000
Canada | 2034
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	1,694,000
Canada | 2033
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	1,827,000
Canada | 2032
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	2,629,000
Canada | 2031
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	4,180,000
Canada | 2030
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	2,829,000
Canada | 2029
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	2,074,000
Canada | 2028
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	1,253,000
Canada | 2027
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	907,000
Canada | 2026
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	78,000
United States
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	161,982,000
Mineral Resources Expenditure Pools Carry Forwards	117,054,000
United States | 2040
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	8,449,000
United States | 2039
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	7,743,000
United States | 2038
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	8,638,000
United States | 2037
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	8,800,000
United States | 2036
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	8,798,000
United States | 2035
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	10,703,000
United States | 2034
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	12,587,000
United States | 2033
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	14,208,000
United States | 2032
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	16,797,000
United States | 2031
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	40,825,000
United States | 2030
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	18,765,000
United States | 2029
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	2,973,000
United States | 2028
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	1,412,000
United States | 2027
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 1,284,000

SHARE CAPITAL - Stock Option Pl

SHARE CAPITAL - Stock Option Plan (Details) - Stock Options - CAD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Number of Options
Balance, beginning of the period	2,707,049	2,452,049
Granted	240,000	255,000
Exercised		0
Balance, end of the period	2,947,049	2,707,049
Weighted Average Exercise Price
Balance, beginning of the period	$ 0.94	$ 0.94
Granted	1.31	0.92
Exercised		0
Balance, end of the period	$ 0.97	$ 0.94
Aggregate Intrinsic Value
Balance, end of the period	$ 235,200	$ 2,287,262

SHARE CAPITAL - Stock options o

SHARE CAPITAL - Stock options outstanding (Details) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of Options (in shares)	2,947,049	2,707,049
Exercisable (in shares)	2,702,049	2,537,049
Exercise Price March 25, 2022 $ 1.11
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	$ 1.11	$ 1.11
Number of Options (in shares)	510,000	510,000
Exercisable (in shares)	510,000	510,000
Exercise Price March 25, 2022 $ 0.73
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	$ 0.73	$ 0.73
Number of Options (in shares)	270,000	270,000
Exercisable (in shares)	270,000	270,000
Exercise Price March 10, 2022 $ 1.11
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	$ 1.11	$ 1.11
Number of Options (in shares)	120,000	120,000
Exercisable (in shares)	120,000	120,000
Exercise Price March 16, 2023 $ 1.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	$ 1	$ 1
Number of Options (in shares)	580,000	580,000
Exercisable (in shares)	580,000	580,000
Exercise Price March 16, 2023 $ 0.50
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	$ 0.50	$ 0.50
Number of Options (in shares)	130,000	130,000
Exercisable (in shares)	130,000	130,000
Exercise Price June 9, 2023 $ 1.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	$ 1	$ 1
Number of Options (in shares)	30,000	30,000
Exercisable (in shares)	30,000	30,000
Exercise Price March 21, 2024 $ 0.61
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	$ 0.61	$ 0.61
Number of Options (in shares)	374,817	374,817
Exercisable (in shares)	374,817	374,817
Exercise Price February 1, 2025 $ 1.35
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	$ 1.35	$ 1.35
Number of Options (in shares)	250,000	250,000
Exercisable (in shares)	250,000	250,000
Exercise Price August 8, 2025 $ 0.85
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	$ 0.85	$ 0.85
Number of Options (in shares)	187,232	187,232
Exercisable (in shares)	187,232	187,232
Exercise Price May 27, 2026 $ 0.92
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	$ 0.92	$ 0.92
Number of Options (in shares)	255,000	255,000
Exercisable (in shares)	170,000	85,000
Exercise Price May 25, 2027 $1.31
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	$ 1.31
Number of Options (in shares)	240,000
Exercisable (in shares)	80,000

SHARE CAPITAL - Non-vested opti

SHARE CAPITAL - Non-vested options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Number of options
Balance, beginning of the year (in shares)	170,000
Granted (in shares)	240,000	255,000
Vested (in shares)	(165,000)	(85,000)
Balance, end of the year (in shares)	245,000	170,000
Weighted average grant-date fair value
Balance, beginning of the year (in Canadian dollars per share)	$ 0.76
Granted (in Canadian dollars per share)	0.98	$ 0.76
Vested (in Canadian dollars per share)	0.87	0.76
Balance, end of the year (in Canadian dollars per share)	$ 0.91	$ 0.76

SHARE CAPITAL - DSUs outstandin

SHARE CAPITAL - DSUs outstanding (Details) - Deferred Share Unit Incentive Plan - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Balance, beginning of the period	1,834,481	1,383,396
Issued	316,795	451,085
Delivered	0	0
Balance, end of the period	2,151,276	1,834,481
Balance, beginning of the period	$ 0.81	$ 0.77
Issued	1.31	0.92
Delivered	0	0
Balance, end of the period	$ 0.88	$ 0.81

SHARE CAPITAL - Weighted averag

SHARE CAPITAL - Weighted average assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
SHARE CAPITAL
Expected life of options	6 years	6 years
Risk-free interest rate	0.99%	0.40%
Expected volatility	81.22%	80.92%
Dividend rate	0.00%	0.00%
Exercise price (C$)	$ 1.31	$ 0.92

SHARE CAPITAL - Additional Info

SHARE CAPITAL - Additional Information (Details)	Sep. 02, 2020shares	Sep. 01, 2020USD ($)$ / shares	Aug. 31, 2020USD ($)	Dec. 31, 2021USD ($)shares	Dec. 31, 2021CAD ($)$ / sharesshares	Dec. 31, 2020USD ($)shares	Dec. 31, 2020CAD ($)$ / sharesshares	Dec. 31, 2019shares
Stockholders Equity [Line Items]
Common Stock, Shares, Issued | shares					194,908,184		194,908,184
Common Stock, Shares, Outstanding | shares					194,908,184		194,908,184
Common Stock, Shares Authorized, Unlimited				Unlimited	Unlimited	Unlimited	Unlimited
At-The-Market offering (in shares) | shares				0	0
Share issuance costs				$ 0		$ 480,946
Allocated share-based compensation expense				$ 535,117		385,531
Aggregate value					$ 83,000		$ 83,000
Weighted average remaining outstanding (in years)				1 year 10 months 24 days	1 year 10 months 24 days
Share-based Compensation Under Deferred Share Unit Incentive Plan				$ 367,850		294,617
Unrecognized compensation expense					$ 98,577
Issuance of common shares				$ 0		$ 10,299,277
Grant date
Stockholders Equity [Line Items]
Vesting Percentage					33.33%		33.33%
May 25, 2022
Stockholders Equity [Line Items]
Vesting Percentage					33.33%
May 25, 2023
Stockholders Equity [Line Items]
Vesting Percentage					33.33%
May 27, 2021
Stockholders Equity [Line Items]
Vesting Percentage							33.33%
May 27, 2022
Stockholders Equity [Line Items]
Vesting Percentage							33.33%
Stock Options
Stockholders Equity [Line Items]
Stock option granted | shares				240,000	240,000	255,000	255,000
Allocated share-based compensation expense				$ 167,267		$ 90,914
Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Shares Authorized					10.00%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | shares						0	0
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date				May 25, 2027	May 25, 2027	May 27, 2026	May 27, 2026
Shares Issued, Price Per Share | $ / shares					$ 1.31		$ 0.92
Plan 2006
Stockholders Equity [Line Items]
Share based compensation arrangement by share based payment award shares authorized percentage					10.00%
Share based Compensation Arrangement By Sharebased Payment Award Options Outstanding Percentage					1.51%
Deferred Share Unit Incentive Plan
Stockholders Equity [Line Items]
Allocated share-based compensation expense				$ 367,850		$ 294,617
Stock option granted in under DSU plan | shares				316,795	316,795	451,085	451,085
Weighted average granted value per share | $ / shares					$ 1.31		$ 0.92
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | shares					19,490,818
Vesting Percentage					8.49%
Deferred Share Unit Incentive Plan | Maximum
Stockholders Equity [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | shares					16,543,769
Deferred Share Unit Incentive Plan | Non-Paulson Directors
Stockholders Equity [Line Items]
Aggregate value					$ 415,000		$ 415,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Shares Obligation | shares				63,359	63,359	90,217	90,217
Weighted average granted value per share | $ / shares					$ 1.31		$ 0.92
Incentive Stock Option Plan 2006 | Share-based Payment Arrangement, Employee | Stock Options
Stockholders Equity [Line Items]
Stock option granted | shares				240,000	240,000	255,000	255,000
Karl Hanneman | Incentive Stock Option Plan 2006 | Share-based Payment Arrangement, Employee | Stock Options
Stockholders Equity [Line Items]
Stock option granted | shares				150,000	150,000	150,000	150,000
Common stock
Stockholders Equity [Line Items]
Common Stock, Shares, Issued | shares					194,908,184		194,908,184	187,573,671
At-The-Market offering (in shares) | shares						7,334,513	7,334,513
Common stock | ATM
Stockholders Equity [Line Items]
At-The-Market offering (in shares) | shares						7,334,513	7,334,513
Gross proceeds						$ 10,299,277
Share issuance costs						480,946
Gross Proceeds from Issuance of Common Stock						10,299,277
Issuance of common shares						9,818,331
Common stock | ATM | Shareholders
Stockholders Equity [Line Items]
At-The-Market offering (in shares) | shares	4,490,997
Average share price | $ / shares		$ 1.40
Gross proceeds		$ 6,287,396
Gross Proceeds from Issuance of Common Stock		$ 6,287,396
Common stock | ATM | B. Riley Securities, Inc
Stockholders Equity [Line Items]
Maximum percentage of commission on gross proceeds			3.00%
Common stock | ATM | B. Riley Securities, Inc | Maximum
Stockholders Equity [Line Items]
Gross proceeds			$ 10,300,000
Gross Proceeds from Issuance of Common Stock			$ 10,300,000
Consulting Fees Expenses
Stockholders Equity [Line Items]
Allocated share-based compensation expense				$ 380,878		304,205
Wages And Benefits Expenses
Stockholders Equity [Line Items]
Allocated share-based compensation expense				143,957		74,870
Investor Relations Expenses
Stockholders Equity [Line Items]
Allocated share-based compensation expense				$ 10,282		$ 6,456

SEGMENT AND GEOGRAPHIC INFORM_3

SEGMENT AND GEOGRAPHIC INFORMATION - Summary of Financial Information by Geographic Location (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Mineral property	$ 55,375,124	$ 55,375,124
Property and equipment	7,465	7,832
Current assets	7,922,351	13,211,372
Total assets	63,304,940	68,594,328
Net loss for the period	(5,980,288)	(4,518,718)
Canada
Segment Reporting Information [Line Items]
Mineral property	0	0
Property and equipment	7,465	7,832
Current assets	7,439,101	12,862,068
Total assets	7,446,566	12,869,900
Net loss for the period	(1,363,483)	(1,134,685)
United States
Segment Reporting Information [Line Items]
Mineral property	55,375,124	55,375,124
Current assets	483,250	349,304
Total assets	55,858,374	55,724,428
Net loss for the period	$ (4,616,805)	$ (3,384,033)

COMMITMENTS (Details)

COMMITMENTS (Details)	Dec. 31, 2021USD ($)
Recorded Unconditional Purchase Obligation [Line Items]
2022	$ 632,692
2023	719,435
2024	724,856
2025	730,345
2026	735,903
2027 and beyond	741,530
Total	4,284,761
Mineral Property Leases
Recorded Unconditional Purchase Obligation [Line Items]
2022	426,972
2023	513,715
2024	519,136
2025	524,625
2026	530,183
2027 and beyond	535,810
Total	3,050,441
Mining Claim Government Fees
Recorded Unconditional Purchase Obligation [Line Items]
2022	205,720
2023	205,720
2024	205,720
2025	205,720
2026	205,720
2027 and beyond	205,720
Total	$ 1,234,320

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	Sep. 02, 2020	Sep. 01, 2020	Aug. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
At-The-Market offering (in shares)				0
Common stock
Related Party Transaction [Line Items]
At-The-Market offering (in shares)					7,334,513
ATM | Common stock
Related Party Transaction [Line Items]
Gross proceeds					$ 10,299,277
At-The-Market offering (in shares)					7,334,513
B. Riley Securities, Inc | ATM | Common stock
Related Party Transaction [Line Items]
Gross proceeds			$ 10,300,000
Shareholders | ATM | Common stock
Related Party Transaction [Line Items]
Gross proceeds		$ 6,287,396
At-The-Market offering (in shares)	4,490,997
Percentage of shares held	2.00%
Shares issued and outstanding	187,573,671
Closing market price		$ 1.40