THMG on OTC

THUNDER MOUNTAIN GOLD INC

THUNDER MOUNTAIN GOLD INC is an American metal mining company that raised $2.5 million in 2025 (SEC Form D).1 It is headquartered in Boise, Idaho.1 Its shares trade on OTC under the symbol THMG.1

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Last updated Oct 21, 2026.

Overview

Compare with Paramount Gold Nevada Corp., Idaho Copper Corp or ZHEN DING RESOURCES INC., or pick any stock.

  • TickerTHMG on OTC1
  • IndustryMetal Mining1
  • HeadquartersBoise, Idaho1
  • Incorporated inNV2
  • Business address11770 W. President Dr. Ste F, Boise, Id 837132
  • Filer categoryNon-accelerated filer, Smaller reporting company2
  • Legal formCorporation

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2022

-148.8%Operating margin3
-414.9%Net margin3
-62.5%Revenue growth, 20224
-497.5%Return on equity3

Where the money goes

Where each dollar of revenue went, fiscal 2022

  • Other costs100¢$300.0K

Out of $300.0K in revenue.43 The company lost money this year.

Financial statements

Revenue564$300.0K in 2022−85% since 2019
0$500.0K$1.0M$1.5M$2.0M2019: $2.0M$2.0M20192020: $550.0K$550.0K2020−72%2021: $800.0K$800.0K2021+45%2022: $300.0K$300.0K2022−62%
Operating income5643-$446.3K in 2022−65% since 2019
-$1.5M-$1.0M-$500.0K0$500.0K2019: -$1.3M-$1.3M20192020: -$96.7K-$96.7K2020−92%2021: $273.0K$273.0K20212022: -$446.3K-$446.3K2022
Net income5643-$1.2M in 2022
-$2.0M-$1.0M0$1.0M$2.0M2019: $1.1M$1.1M20192020: $1.2M$1.2M2020+12%2021: -$571.8K-$571.8K20212022: -$1.2M-$1.2M2022+118%

Every line of the income statement as filed: the last 2 fiscal years, latest first.9

Period ending2025-12-312024-12-31
Exploration$911.5K$148.0K
Legal and accounting$262.2K$112.6K
Management and administrative$1.7M$325.0K
Total operating expenses$2.8M$585.6K
Net operating loss-$2.8M-$585.6K
Realized loss on sale of investment$0-$42.9K
Other$7.2K$2.4K
Reclamation expense-$5.1K
Total other income (expense)$2.0K-$40.5K
Net loss-$2.8M-$626.1K
Net income - noncontrolling interest in Owyhee Gold Trust$5.0K$5.0K
Net Income (Loss) Attributable to Parent, Total-$2.8M-$631.1K
Net loss per common share-basic-$0.03-$0.01
Net loss per common share-diluted-$0.03-$0.01
Weighted average common shares outstanding basic82.0M shares62.5M shares
Weighted average common shares outstanding diluted82.0M shares62.5M shares

Compare THUNDER MOUNTAIN GOLD INC with another company

What it owns

What THUNDER MOUNTAIN GOLD INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Land$592.6K9 Dec 31, 2025$332.5K9 Dec 31, 2024+78.2%
Property and equipment, before depreciation$95.5K9 Dec 31, 2025$95.5K9 Dec 31, 20240%
Accumulated depreciation$95.5K9 Dec 31, 2025$95.5K9 Dec 31, 20240%
Property and equipment, net$592.6K9 Dec 31, 2025$332.5K9 Dec 31, 2024+78.2%
Operating-lease assets (leased space)$09 Dec 31, 2025$1.7K9 Dec 31, 2024−100.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$2.6M9 Dec 31, 2025$481.3K9 Dec 31, 2024+438.6%
Marketable securities, current$010 Dec 31, 2024$427.8K10 Dec 31, 2023−100.0%

Properties, in its own words

Summary

The Company, including its subsidiaries, owns mining rights, claims, and properties in the mining areas of Nevada and Idaho. These include the South Mountain Property in Idaho ("South Mountain Project") and the Trout Creek Property in Nevada ("Trout Creek Project"). The maps below in Figure 1 and Figure 2 show the locations of the properties.

The rest of Item 2

Figure 1 - South Mountain Project Location Map

INDIVIDUAL PROPERTIES - MATERIAL OPERATING PROPERTIES

THE SOUTH MOUNTAIN PROJECT

SPECIAL NOTE TO READERS: The South Mountain Project is a material property as defined by Regulation S-K Subpart 1300 (S-K 1300) issued by the Security and Exchange Commission (SEC). All other properties described in this Annual Report are immaterial under S-K 1300.

Figure 3. Location of South Mountain Project

South Mountain Project Summary Overview

The Company operates the South Mountain Project ("South Mountain" or the "South Mountain Project" or the "Property" or the "Project") comprised of an underground mine and adjacent exploration properties located approximately 70 miles southwest of Boise, Idaho (see Figure 3 above). It is a polymetallic Exploration Stage Property focused on high-grade zinc, silver, gold, and copper. Mineralization was first discovered at South Mountain in 1868, with subsequent mining activity leading to the discovery of the oxidized silver, gold, zinc and lead veins. The Project was intermittently mined from the late 1800s to the late 1960s. According to historical smelter records, approximately 53,642 tons of mineralized material have been mined by previous operators. Because the South Mountain Project is an Exploration Stage property, the Company had no aggregate annual production from the South Mountain Project in the last three years.

The Company owns 100% the South Mountain Project, through its wholly-owned subsidiaries-Thunder Mountain Resources, Inc., South Mountain Mines, Inc. and Thunder Mountain Resources, Inc. The South Mountain Project originally consisted of 17 patented mining claims (approximately 327 acres) located in Owyhee County in southwestern Idaho. After the Company's purchase of the property, it staked an additional 21 unpatented lode mining claims and obtained mineral leases on 489 acres of adjoining private ranch land, and an additional 13 unpatented claims on approximately 260 acres in 2024.

The South Mountain Project is largely located on and surrounded by private land and state of Idaho endowment land. Future agreements with individual private landowners, along with the existing easements and right of ways, may be necessary to establish infrastructure such as roads and power lines. The private land setting greatly simplifies and streamlines the permitting and approval process. Owyhee County approved Conditional use Permits ("CUPs") for the mine site and mill site in 2013. At the County's request, the Company is updating technical information and re-applying for these permits with the County. Both the mine and the mill site are located on private land, and as such, require no other permit authorization for surface disturbance, other than any approvals from the County to further extend and / or update the previously approved CUPs.

Also included in the South Mountain Project area is a 360-acre millsite, not contiguous with the mining claims, which was purchased by THMG in 2013. The millsite is located approximately 6.8 road miles from the main mine area, with access provided by a 1.2-mile haul road between the millsite and Owyhee County South Mountain Road. Plans to construct a mill were approved by Owyhee County in 2013, as described above through the CUPs.

Summary Mineral Resources at End of the Fiscal Year Ended December 31, 2025

For a summary of South Mountain's Mineral Resources at the end of the fiscal year ended December 31, 2025, see Table 1 below.

Reserves

The Company has no proven or probable mineral reserves on any of its properties at the end of the fiscal year ended December 31, 2025.

Property and Location

The South Mountain Project is located approximately 70 miles southwest of Boise, Idaho at Latitude 42° 44' 41.65" North and Longitude 116° 55' 13.48" West (see Figure 3 above). The Project was intermittently mined from the late 1800s to the late 1960s, and its existing underground workings remain intact and well maintained. Historic production, mostly from Anaconda Copper, at the Project has largely come from high-grade massive sulfide zones that remain open at depth and along strike. According to historical smelter records, approximately 53,642 tons of mineralized material has been mined to date. These records also indicate average grades; 14.5% Zn, 11.63 opt Ag, 0.063 opt Au, 2.4% Pb, and 1.4% Cu were mined.

The South Mountain Project mine site is accessible by Highway 95, driving south from the Boise area to Jordan Valley, Oregon, then by traveling southeast approximately 22 miles back into Idaho, via Owyhee County Road, a dirt road improved to within 4 miles of historic mine site. The last 4 miles up the South Mountain Mine Road is unimproved dirt road. The property is accessible year-round to within 4 miles of the property. Snow removal is required to access the property during the winter months, but the property is accessible from May through October without the need for snow removal. There is power distribution within 4 miles of the site. The climate is considered high desert. The Company has water rights on the property, and there is a potable spring on the property that once supplied water to the main mining camp.

Item 2 of the 10-K filed Mar 31, 2026.11

Leadership

Who has led THUNDER MOUNTAIN GOLD INC, and when. Pick a name to see everywhere that person has worked.

Chief operating officer

  1. James Ellis Collord2022
2010201520202025
Board members and other officers (8)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • acting VP, OperationsRonald David Chase named Jan 2, 2025 to Dec 8, 202523

Timeline

  1. Aug 26, 20268-K Unregistered sale of shares; Other events24
  2. Jul 9, 20268-K Regulation FD disclosure; Other events25
  3. Jun 8, 20268-K Change of auditor26
  4. Feb 3, 20268-K Bylaws or fiscal year changed; Shareholder vote27
  5. Nov 4, 20258-K Unregistered sale of shares; Other events28
  6. Sep 9, 20258-K Unregistered sale of shares; Other events29
  7. May 30, 20258-K Entered a material agreement; Unregistered sale of shares30
  8. Feb 18, 20258-K Shareholder vote31
  9. Dec 13, 20248-K Shareholder vote32
  10. Dec 18, 20238-K Shareholder vote33
  11. Dec 12, 20238-K Shareholder vote34
  12. Jan 6, 20238-K Entered a material agreement35
  13. May 25, 2012New chief executive Eric T. Jones becomes CEO12

Filings

59 filings to the SEC since October 2021: 7 annual reports, 15 quarterly reports, 14 major events, 15 insider forms, 2 private raises, 6 other. The latest 20:

  1. Aug 26, 20268-K EDGAR
  2. Aug 14, 202610-Q EDGAR
  3. Jul 9, 20268-K EDGAR
  4. Jun 8, 20268-K EDGAR
  5. May 12, 202610-Q EDGAR
  6. Mar 31, 202610-K EDGAR
  7. Feb 3, 20268-K EDGAR
  8. Dec 23, 2025DEF 14A EDGAR
  9. Dec 8, 2025D EDGAR
  10. Nov 10, 202510-Q EDGAR
  11. Nov 4, 20258-K EDGAR
  12. Sep 9, 20258-K EDGAR
  13. Aug 11, 202510-Q EDGAR
  14. May 30, 20258-K EDGAR
  15. May 13, 202510-Q EDGAR
  16. Mar 31, 202510-K/A EDGAR
  17. Mar 31, 202510-K EDGAR
  18. Feb 18, 20258-K/A EDGAR
  19. Jan 2, 2025D EDGAR
  20. Dec 13, 20248-K EDGAR

The 59 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

12 open-market trades by officers, directors and large owners since October 2021: 12 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jul 12, 2024Jones Eric TCEOBuy125,000$0.06$7.5KForm 4
Jul 8, 2024Jones Eric TCEOBuy194,199$0.04$7.8KForm 4
Feb 5, 2024Jones Eric TCEOBuy10,000$0.04$400Form 4
Sep 1, 2023Jones Eric TCEOBuy10,000$0.07$700Form 4
Aug 30, 2023Jones Eric TCEOBuy10,000$0.07$700Form 4
Aug 28, 2023Jones Eric TCEOBuy11,000$0.07$770Form 4
Aug 24, 2023Jones Eric TCEOBuy5,000$0.07$350Form 4
Aug 23, 2023Jones Eric TCEOBuy5,000$0.05$250Form 4
Aug 21, 2023Jones Eric TCEOBuy30,000$0.05$1.5KForm 4
Aug 18, 2023Jones Eric TCEOBuy10,000$0.06$600Form 4
Aug 17, 2023Jones Eric TCEOBuy30,000$0.05$1.5KForm 4
Aug 11, 2023Jones Eric TCEOBuy45,000$0.05$2.2KForm 4

From Forms 4 filed with the SEC.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Eric T. Jones$120.0K$168.2K36
2025Jim Collord,$29.4K36
2025Larry Thackery$35.0K$26.8K36
2024President/CEO$121.0K36
2024CFO$20.4K36

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$2.5M 2024–2025
Money received by yearMoney received by year, 2024–2025: $2.5M in all. Private raises (Form D) $2.5M.$0$1M$2M$3M2024 · Private raises (Form D): $27.0K20242025 · Private raises (Form D): $2.5M2025
Figures by year
YearPrivate raises (Form D)Total
2025$2.5M$2.5M
2024$27.0K$27.0K

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Oct 24, 2025Raised $2.5 million in a private offering of equity23 Form D: $4.5 million offered in all Form D
  2. Dec 16, 2024Raised $27,000 in a private offering of equity37 Form D: $81,000 offered in all Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Ferguson Wellman Capital Management, Inc10,000$7.9K0.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How THUNDER MOUNTAIN GOLD INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARTHUNDER MOUNTAIN GOLD INC1
  • CIK0000711034
  • Employer ID (EIN)91-103101511
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company11
  • Incorporated inNevada11
  • Fiscal year endsDecember 311
  • Industry code (SIC)1000 Metal Mining1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business address11770 W. President Dr. Ste F, Boise, ID 837131
  • Phone208-658-10371
  • Shares outstanding94,998,740 as of Aug 10, 20268
  • Public float$16.2M as of Jun 30, 202511
  • AuditorAssure CPA, LLC, Spokane, Washington PCAOB ID 444; no auditor attestation of internal control over financial reporting11
  • On EDGAR sinceMar 31, 19981
  • Filings384 in all: 4 (103), 8-K (72), 10-Q (57), 10QSB (23), 10-K (18), NT 10-Q (14), 10KSB (11), D (11)1
    All 33 form types

    NT 10-K (11), 5 (8), 10KSB/A (5), CORRESP (5), DEF 14A (5), UPLOAD (5), 10-Q/A (4), 8-K/A (4), D/A (4), 10-K/A (3), PRE 14A (3), 10QSB/A (2), 4/A (2), DEFA14A (2), EFFECT (2), 424B3 (1), DEF 14C (1), DEFR14A (1), POS AM (1), PRE 14C (1), PRER14A (1), REGDEX (1), REGDEX/A (1), S-1 (1), SC 13G (1)

  • Latest filingsAnnual report (10-K) Mar 31, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Dec 23, 2025
    Latest 8-K (8-K) Aug 26, 2026

Securities registered for trading

ClassSymbolExchange
THMGNONE
THMNONE

From the cover page of the 10-K filed Mar 31, 2026 (Section 12(b) of the Exchange Act).11

Risk factors and legal proceedings

The risks THUNDER MOUNTAIN GOLD INC names in Item 1A of its 10-K filed Mar 31, 2026: 13 risks under these headings, as written.11

  • Our mineral resources are subject to uncertainty and may not convert to reserves.
  • We have no income and limited resources and will require additional capital to sustain operations.
  • Our exploration efforts may be adversely affected by metals price volatility causing us to cease exploration efforts.
  • Our business faces significant risks by information technology disruptions by cyber-attacks.
  • Our mineral exploration efforts may not be successful.
  • We face strong competition from other mining companies for the acquisition of new properties.
  • Mining operations may be adversely affected by risks and hazards associated with the mining industry.
  • We must limit our exploration due to capital constraints.
  • We will have to suspend our exploration plans if we do not have access to all the supplies and materials we need.
  • We face substantial governmental regulation, economic and environmental risks, which could prevent us from exploring or developing our properties.
  • Supplies and equipment needed for exploration may not always be available. If the Company is unable to secure raw materials and exploration supplies, it may have to delay anticipated business operations.
  • If we fail to maintain effective internal controls over financial reporting, we could experience material weaknesses, inaccurate financial reporting, regulatory scrutiny, or harm to our reputation.
The other 1 risk
  • Regulations and pended legislation governing issues involving climate change could result in increased operating costs, which could have a material adverse effect on the Company's business.

Sources

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