Wed, Sep 11, 10:02 AM (101 days ago)
Thunder Mountain Gold, Inc. (THMG) filed Amendment No. 1 to its Form 10-K for the year ending December 31, 2023, primarily to update mineral property disclosures per SEC Regulation S-K. The amendment clarifies risk factors, including climate change and internal control deficiencies regarding mineral property disclosures. The company reported a net loss of $817,227 ($0.01 per share), an improvement from a $1,244,739 loss in 2022, attributed mainly to reduced unrealized losses on BeMetals stock. Operating expenses decreased by 18% to $614,691, while exploration expenses rose due to the termination of the BeMetals Option Agreement. As of December 31, 2023, cash and equivalents were $170,628, with a focus on securing future funding through equity or debt sales. The company holds no proven reserves but has measured and indicated resources at the South Mountain Project, with a recent mineral resource estimate showing 223,000 tons grading 9.02% zinc. Risks include reliance on external funding and market conditions affecting exploration viability.