Thunder Mountain Gold, Inc. (THMG) reported significant financial challenges in its 10-Q filing for the three and nine-month periods ending September 30, 2024. The company experienced a decrease in cash and cash equivalents, which fell to $141,511 from $170,628 as of December 31, 2023. Total current assets also declined sharply to $196,218 from $632,250, contributing to a total asset reduction to $535,562, down from $986,388. The company’s total stockholders' equity worsened, showing $(1,000,839) compared to $(567,005) at the end of the previous fiscal year.

Operating expenses for the three months ended September 30, 2024, increased to $115,226, an 11% rise from $103,409 in the same period of 2023. Exploration expenses surged to $40,164, up from $12,753, attributed to increased costs related to S-K 1300 disclosures and maintenance. Despite a decrease in overall operating expenses for the nine-month period to $392,692 from $459,807, the company reported a net operating loss of $(392,692) for the nine months, slightly improved from $(433,834) in the previous year.

The net loss for the three months ended September 30, 2024, was $(114,631), a modest improvement from $(119,701) in the same quarter of 2023. However, the nine-month net loss was $(433,834), compared to $(427,355) in the prior year. The company reported a net cash outflow from operating activities of $(414,098) for the nine months, an improvement from $(463,189) in 2023.

Strategically, Thunder Mountain Gold sold 6,636,000 shares in BeMetals Corp. for $384,981 on January 18, 2024, incurring a loss of $42,855. Additionally, the company acquired 56 acres of land adjacent to the South Mountain Project for $52,176, aimed at enhancing exploration efficiency. The company is actively seeking additional financing, including a private placement plan approved by the Board of Directors to raise up to $600,000 through the sale of equity units.

The company faces a 'going concern' qualification due to insufficient cash to fund normal operations and meet obligations for the next 12 months. As of September 30, 2024, Thunder Mountain Gold had an accumulated deficit of approximately $7,602,442 and continues to explore options to advance the South Mountain Project while managing its financial constraints.