In This Story
Thunder Mountain Gold Inc. (THMG0.00%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a net loss of $631,111 for 2024, an improvement from the net loss of $817,227 in 2023. The company attributes the decrease in net loss to a reduction in unrealized losses on investments.
Thunder Mountain Gold Inc. does not generate revenue from operations as it is focused on mineral exploration and development activities. The company does not have producing mines or commercial production at this time.
In 2024, operating expenses totaled $585,613, a decrease of 5% from 2023. Exploration expenses increased by $60,302, while management and administrative expenses decreased by $85,688.
The company completed a private placement in December 2024, issuing 12,400,000 shares of common stock and an equal number of common stock purchase warrants, generating gross proceeds of approximately $620,000.
Thunder Mountain Gold Inc. continues to focus on its South Mountain Project in Idaho and the Trout Creek Project in Nevada. The company plans to advance the South Mountain Project and explore additional properties through partnerships and joint ventures.
As of December 31, 2024, the company had cash and cash equivalents of $481,322. It plans to raise additional funds in 2025 to meet operating and capital requirements.
The company faces liquidity challenges and is actively seeking additional funds through various means, including public offerings and private placements, to ensure its viability.
Thunder Mountain Gold Inc. has no proven reserves at its properties. The company has measured, indicated, and inferred resources at the South Mountain Mine.
The filing also details various risks, including the speculative nature of mineral exploration, the company's dependence on securing capital, and potential impacts from regulatory changes and environmental liabilities.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Thunder Mountain Gold Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.