Fri, Aug 16, 5:43 PM (151 days ago)
For the quarter ending June 30, 2024, Thunder Mountain Gold, Inc. reported a net loss of $113,643, contrasting with net income of $52,176 in Q2 2023. Year-to-date losses reached $319,203, slightly higher than the prior year's $307,654. Operating expenses decreased by 20% to $114,632, primarily due to reduced management and administrative costs. The company sold its remaining investment in BeMetals for $384,981, mitigating some cash flow challenges, yet cash reserves stood at only $247,235, raising doubts about its ability to sustain operations without further financing. Current liabilities totaled $1,279,126, against total assets of $643,807, indicating a precarious financial position. The company continues to face significant uncertainties regarding future operations, particularly in securing additional capital to fund exploration and operational costs. Management is exploring various financing options, including equity sales and partnerships, but acknowledges the challenging market conditions. The ongoing 'going concern' qualification emphasizes the urgent need for strategic financial maneuvers to ensure viability in the coming year.