Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2023 | Jul. 10, 2023 | |
Document Information [Line Items] | ||
Registrant Name | THUNDER MOUNTAIN GOLD, INC. | |
Registrant CIK | 0000711034 | |
Fiscal Year End | --12-31 | |
SEC Form | 10-Q | |
Period End date | Jun. 30, 2023 | |
Document Quarterly Report | true | |
Tax Identification Number (TIN) | 91-1031015 | |
Number of common stock shares outstanding | 60,855,579 | |
Filer Category | Non-accelerated Filer | |
Current with reporting | Yes | |
Interactive Data Current | Yes | |
Shell Company | false | |
Small Business | true | |
Emerging Growth Company | false | |
Document Transition Report | false | |
Entity File Number | 001-08429 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 11770 W President Dr. STE F | |
Entity Address, City or Town | Boise | |
Entity Address, State or Province | ID | |
Entity Address, Postal Zip Code | 83713-8986 | |
City Area Code | 208 | |
Local Phone Number | 658-1037 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q2 | |
Exchange OTCQB [Member] | ||
Document Information [Line Items] | ||
Trading Symbol | THMG | |
Trading Exchange | NONE | |
Title of 12(g) Security | Common Stock, $0.001 par value | |
Exchange TSX-V [Member] | ||
Document Information [Line Items] | ||
Trading Symbol | THM | |
Trading Exchange | NONE | |
Title of 12(g) Security | Common Stock, $0.001 par value |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 304,367 | $ 682,718 |
Investment in BeMetals, at fair value | 786,032 | 738,612 |
Prepaid expenses and other assets | 34,951 | 20,113 |
Total current assets | 1,125,350 | 1,441,443 |
Property and Equipment: | ||
Land | 280,333 | 280,333 |
Deposit | 10,000 | 0 |
Equipment, net of accumulated depreciation | 0 | 552 |
Total property and equipment | 290,333 | 280,885 |
Right to use asset | 31,072 | 0 |
Total assets | 1,446,755 | 1,722,328 |
Current liabilities: | ||
Accounts payable and other accrued liabilities | 43,807 | 27,599 |
Accrued related party liability | 136,685 | 146,685 |
Operating lease liability - current | 17,423 | 0 |
Advance from BeMetals | 0 | 5,433 |
Deferred officer compensation | 1,041,500 | 1,041,500 |
Total current liabilities | 1,239,415 | 1,221,217 |
Operating lease liability - long-term | 13,883 | 0 |
Accrued reclamation costs | 81,250 | 81,250 |
Total liabilities | 1,334,548 | 1,302,467 |
Commitments and Contingencies | ||
Stockholders' equity: | ||
Preferred stock; $0.0001 par value, 5,000,000 shares authorized; no shares issued or outstanding | 0 | 0 |
Common stock; $0.001 par value; 200,000,000 shares authorized, 60,855,579 shares issued and outstanding | 60,856 | 60,856 |
Additional paid-in capital | 6,564,947 | 6,564,947 |
Less: 11,700 shares of treasury stock, at cost | (24,200) | (24,200) |
Accumulated deficit | (6,659,035) | (6,351,381) |
Total Thunder Mountain Gold, Inc stockholders' equity | (57,432) | 250,222 |
Noncontrolling interest in Owyhee Gold Trust | 169,639 | 169,639 |
Total stockholders' equity | 112,207 | 419,861 |
Total liabilities and stockholders' equity | $ 1,446,755 | $ 1,722,328 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Jun. 30, 2023 | Dec. 31, 2022 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value per share | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value per share | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 60,855,579 | 60,855,579 |
Common stock, shares outstanding | 60,855,579 | 60,855,579 |
Treasury stock, shares | 11,700 | 11,700 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Revenues: | ||||
Management service income | $ 0 | $ 75,000 | $ 0 | $ 150,000 |
Total revenues | 0 | 75,000 | 0 | 150,000 |
Operating expenses: | ||||
Exploration | 24,576 | 1,073 | 43,007 | 2,238 |
Legal and accounting | 12,147 | 14,545 | 76,963 | 85,092 |
Management and administrative | 106,322 | 130,707 | 235,876 | 406,199 |
Depreciation | 221 | 331 | 552 | 890 |
Total operating expenses | 143,266 | 146,656 | 356,398 | 494,419 |
Net operating (loss) | (143,266) | (71,656) | (356,398) | (344,419) |
Other income (expense): | ||||
Unrealized gain (loss) on investment | 194,848 | (381,924) | 47,420 | (620,988) |
Other income | 594 | 0 | 1,324 | 98 |
Total other income (expense) | 195,442 | (381,924) | 48,744 | (620,890) |
Net income (loss) | 52,176 | (453,580) | (307,654) | (965,309) |
Net Income (loss) - noncontrolling interest in Owyhee Gold Trust | 0 | 0 | 0 | 0 |
Net income (loss) - Thunder Mountain Gold, Inc. | $ 52,176 | $ (453,580) | $ (307,654) | $ (965,309) |
Net income (loss) per common share-basic | $ 0 | $ (0.01) | $ (0.01) | $ (0.02) |
Net income (loss) per common share- diluted | $ 0 | $ (0.01) | $ (0.01) | $ (0.02) |
Weighted average common shares outstanding-basic | 60,855,579 | 60,855,579 | 60,855,579 | 60,855,579 |
Weighted average common shares outstanding-diluted | 60,855,579 | 60,855,579 | 60,855,579 | 60,855,579 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Cash flows from operating activities: | ||
Net income (loss) | $ (307,654) | $ (965,309) |
Adjustments to reconcile net loss to net cash used by operating activities: | ||
Depreciation | 552 | 890 |
Stock based compensation | 0 | 158,341 |
Unrealized (gain) loss on investment | (47,420) | 620,988 |
Change in: | ||
Prepaid expenses and other assets | (14,838) | (41,489) |
Accounts payable and other accrued liabilities | 16,442 | 29,928 |
Accrued interest payable to related parties | 0 | (12,479) |
Accrued related party liability | (10,000) | 0 |
Advance from BeMetals | (5,433) | (23,325) |
Net cash used by operating activities | (368,351) | (232,455) |
Cash flows from investing activities: | ||
Deposit on Land Purchase | (10,000) | 0 |
Net cash provided by investing activities | (10,000) | 0 |
Cash flows from financing activities: | ||
Payments on related parties notes payable | 0 | (38,000) |
Net cash (used) by financing activities | 0 | (38,000) |
Net increase (decrease) in cash and cash equivalents | (378,351) | (270,455) |
Cash and cash equivalents, beginning of period | 682,718 | 1,156,622 |
Cash and cash equivalents, end of period | 304,367 | 886,167 |
Noncash financing and investing activities | ||
Operating lease liability arising from obtaining right to use asset | $ 38,701 | $ 0 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-In Capital [Member] | Treasury Stock [Member] | Accumulated Deficit [Member] | Non-Controlling Interest in OGT [Member] | Total |
Equity Balance at Dec. 31, 2021 | $ 60,856 | $ 6,406,606 | $ (24,200) | $ (5,106,642) | $ 173,702 | $ 1,510,322 |
Equity Balance (Shares) at Dec. 31, 2021 | 60,855,579 | |||||
Stock based compensation | 158,341 | 158,341 | ||||
Net income (loss) | (965,309) | (965,309) | ||||
Equity Balance at Jun. 30, 2022 | $ 60,856 | 6,564,947 | (24,200) | (6,071,951) | 173,702 | 703,354 |
Equity Balance (Shares) at Jun. 30, 2022 | 60,855,579 | |||||
Equity Balance at Mar. 31, 2022 | $ 60,856 | 6,564,947 | (24,200) | (5,618,371) | 173,702 | 1,156,934 |
Equity Balance (Shares) at Mar. 31, 2022 | 60,855,579 | |||||
Net income (loss) | (453,580) | (453,580) | ||||
Equity Balance at Jun. 30, 2022 | $ 60,856 | 6,564,947 | (24,200) | (6,071,951) | 173,702 | 703,354 |
Equity Balance (Shares) at Jun. 30, 2022 | 60,855,579 | |||||
Equity Balance at Dec. 31, 2022 | $ 60,856 | 6,564,947 | (24,200) | (6,351,381) | 169,639 | 419,861 |
Equity Balance (Shares) at Dec. 31, 2022 | 60,855,579 | |||||
Net income (loss) | (307,654) | (307,654) | ||||
Equity Balance at Jun. 30, 2023 | $ 60,856 | 6,564,947 | (24,200) | (6,659,035) | 169,639 | 112,207 |
Equity Balance (Shares) at Jun. 30, 2023 | 60,855,579 | |||||
Equity Balance at Mar. 31, 2023 | $ 60,856 | 6,564,947 | (24,200) | (6,711,211) | 169,639 | 60,031 |
Equity Balance (Shares) at Mar. 31, 2023 | 60,855,579 | |||||
Net income (loss) | 52,176 | 52,176 | ||||
Equity Balance at Jun. 30, 2023 | $ 60,856 | $ 6,564,947 | $ (24,200) | $ (6,659,035) | $ 169,639 | $ 112,207 |
Equity Balance (Shares) at Jun. 30, 2023 | 60,855,579 |
Summary of Significant Accounti
Summary of Significant Accounting Policies and Business Operations | 6 Months Ended |
Jun. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summary of Significant Accounting Policies and Business Operations [Text Block] | 1. Summary of Significant Accounting Policies and Business Operations Business Operations Thunder Mountain Gold, Inc. ("Thunder Mountain", "THMG", or "the Company") was originally incorporated under the laws of the State of Idaho on November 9, 1935, under the name of Montgomery Mines, Inc. In April 1978, the Montgomery Mines Corporation was obtained by a group of the Thunder Mountain property holders and changed its name to Thunder Mountain Gold, Inc., with the primary goal to further develop their holdings in the Thunder Mountain Mining District, located in Valley County, Idaho. Thunder Mountain Gold, Inc. takes its name from the Thunder Mountain Mining District, where its principal lode mining claims were located. For several years, the Company's activities were restricted to maintaining its property position and exploration activities. During 2005, the Company sold its holdings in the Thunder Mountain Mining District. During 2007, the Company acquired the South Mountain Mines property in southwest Idaho and initiated exploration activities on that property, which continue today. On December 30, 2022, Thunder Mountain Gold, Inc. by and through its subsidiaries Thunder Mountain Resources, Inc., a Nevada Corporation, and South Mountain Mines, Inc., an Idaho Corporation ("SMMI") (collectively the "Company", "THMG", or "We", "Our" or "Us") agreed to terminate an Option Agreement, (the " BeMetals Option Agreement BeMetals BMET The "BeMetals Option Agreement was entered into on February 27, 2019, the original terms of the Option Agreement, BeMetals provided the funding to SMMI for project expenses including Management Services Income. The Company has 8 million common shares of BMET USA with a market value of $786,032, and the Company had cash and cash equivalents of $304,367 for the six months ended June 30, 2023. See Note 3 for further information. Basis of Presentation and Going Concern The accompanying condensed consolidated financial statements have been prepared under the assumption that the Company will continue as a going concern. The Company has historically incurred losses, however, the Company has cash reserves and available for sale securities sufficient to cover normal operating expenses for the following 12 months. If necessary, the Company continues to have the ability to raise additional capital in order to fund its future exploration and working capital requirements. Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company; its wholly owned subsidiaries, Thunder Mountain Resources, Inc. ("TMRI") and South Mountain Mines, Inc. ("SMMI"); and a company in which the Company owns 75% and has majority control, Owyhee Gold Trust, LLC ("OGT"). The Company's condensed consolidated financial statements reflect the other investor's 25% non-controlling, capped interest in OGT. Intercompany accounts are eliminated in consolidation. Accounting Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions include the carrying value of properties and mineral interests, environmental remediation liabilities, deferred tax assets, and stock-based compensation. Management's estimates and assumptions are based on historical experience and other assumptions believed to be reasonable under the circumstances. Actual results could differ from those estimates. Revenue Recognition Management service revenue is recognized when the Company has satisfied its performance obligation required under its management contract with BeMetals. Such an obligation is satisfied over time as work is performed and the Company has a contractual right to payment. Income Taxes The Company recognizes deferred income tax liabilities or assets at the end of each period using the tax rate expected to be in effect when the taxes are actually paid or recovered. A valuation allowance is recognized on deferred tax assets when it is more likely than not that some or all of the deferred tax assets will not be realized. Cash and Cash Equivalents For the purposes of the balance sheet and statement of cash flows, the Company considers all highly liquid investments with a maturity of three months or less when purchased to be a cash equivalent. Fair Value Measurements When required to measure assets or liabilities at fair value, the Company uses a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used. The Company determines the level within the fair value hierarchy in which the fair value measurements in their entirety fall. The categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Level 1 uses quoted prices in active markets for identical assets or liabilities, Level 2 uses significant other observable inputs, and Level 3 uses significant unobservable inputs. The amount of the total gains or losses for the period are included in earnings that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date. At June 30, 2023, the Company has one financial asset, investment in equity security, that is adjusted to fair value on a recurring basis for which the fair value is determined based on Level 1 inputs as the equity security is traded on a stock exchange. The Company has no financial liabilities that are adjusted to fair value on a recurring basis. Financial Instruments The Company's financial instruments include cash and cash equivalents, and the investment in BeMetal's equity securities, the carrying value of which approximates fair value based on the nature of those instruments. Investments The Company determines the appropriate classification of investments at the time of acquisition and re-evaluates such determinations at each reporting date. Equity securities that have a readily determined fair value are carried at fair value determined using Level 1 fair value measurement inputs with the change in fair value recognized as unrealized gain (loss) in the condensed consolidated statement of operations each reporting period. Gains and losses on the sale of securities are recognized on a specific identification basis. Mineral Interests The Company capitalizes costs for acquiring mineral interests, and expenses costs to maintain mineral rights and leases as incurred. Exploration costs are expensed in the period in which they occur. Should a property reach the production stage, these capitalized costs would be amortized using the units-of-production method based on periodic estimates of ore reserves. Mineral interests are periodically assessed for impairment of value and any subsequent losses are charged to operations at the time of impairment. If a mineral interest is abandoned or sold, its capitalized costs are charged to operations. Consideration received by the Company pursuant to joint ventures or purchase option agreements is applied against the carrying value of the related mineral interest. When and if payments received exceed the carrying value, the excess amount is recognized as a gain in the condensed consolidated statement of operations in the period the consideration is received. Leases Arrangements meeting the definition of a lease are classified as operating or financing leases and are recorded on the condensed consolidated balance sheet as both a right-of-use asset and lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company's incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and the right-of-use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right-of-use asset result in straight-line rent expense over the lease term. For finance leases, interest on the lease liability and the amortization of the right-of-use asset results in front-loaded expense over the lease term. Variable lease expenses are recorded when incurred. Investments in Joint Ventures For companies and joint ventures where the Company holds more than 50% of the voting interests, but less than 100%, and has significant influence, the company or joint venture is consolidated, and other investor interests are presented as noncontrolling. See Note 3 regarding the Company's investment in Owyhee Gold Trust. Joint ventures in which the Company has the ability to exercise significant influence, but does not control, are accounted for under the equity method of accounting. Reclamation and Remediation The Company's operations have been, and are subject to, standards for mine reclamation that have been established by various governmental agencies. The Company would record the fair value of an asset retirement obligation as a liability in the period in which the Company incurred a legal obligation for the retirement of tangible long-lived assets. A corresponding asset would also be recorded and depreciated over the life of the asset. For non-operating properties, the Company accrues costs associated with environmental remediation obligations when it is probable that such costs will be incurred, and they are reasonably estimable. Such costs are based on management's estimate of amounts expected to be incurred when the remediation work is performed. The Company had accrued $81,250 at June 30, 2023 and December 31, 2022, respectively, on its condensed consolidated balance sheets relating to estimated mine closure and reclamation costs on its South Mountain Mines property. Share-Based Compensation Share-based payments to employees and directors, including grants of employee stock options, are measured at fair value and expensed in the condensed consolidated statements of operations over the vesting period. Recent Accounting Pronouncements Accounting Standards Updates In June 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2022-03 Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Resale Restrictions Accounting Standards Adopted In August 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2020- 06 Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption. Net Income (Loss) Per Share The Company is required to have dual presentation of basic earnings per share ("EPS") and diluted EPS. The Company calculates basic earnings (loss) per share by dividing net income or loss available to common stockholders by the weighted average number of common shares outstanding. Diluted earnings per share reflect potentially dilutive common stock equivalents, including options and warrants that could share in our earnings through the conversion to common shares, except where their inclusion would be anti-dilutive. For the three and six months ended June 30, 2023 and June 30, 2022, outstanding common stock equivalents were excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive due to the net loss for the period. |
Mineral Interest Commitments
Mineral Interest Commitments | 6 Months Ended |
Jun. 30, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Mineral Interest Commitments [Text Block] | 2. Mineral Interest Commitments On January 31, 2023, the Company's Board of Directors approved a resolution to purchase 56 acres of private land for $50,000. This is strategic to exploration and development, and contiguous on the south end of the existing patented and lode claims at the South Mountain Project. A real estate purchase and sale agreement was signed on February 7, 2023. Under the terms of the agreement $10,000 was paid and recorded as a deposit. The balance of $40,000 is due by December 29, 2023. Failure to make the payment forfeits the deposit of $10,000 and cancels the agreement. The Company has two lease arrangements with landowners that own land parcels adjacent to the Company's South Mountain patented and unpatented mining claims. The leases were originally for a seven-year period, with annual payments of $20 per acre. The leases were renewed for an additional 10 years at $30 per acre paid annually, Acree Lease renewed on June 19, 2014, and the Lowry Lease was on October 23, 2014; committed payments are listed in the table below. The leases have no work requirements. Annual Payment Acree Lease (June) $ 3,390 Lowry Lease (October) 11,280 Total $ 14,670 The Company has 26 unpatented claims (533 acres) in the Trout Creek area and 21 unpatented claims in the South Mountain area. The claim fees are paid on these unpatented claims annually as follows: Target Area 2023 Trout Creek -State of Nevada $ 4,290 Trout Creek -Lander County, Nevada 324 South Mountain-State of Idaho 3.465 Total $ 8,079 |
South Mountain Project
South Mountain Project | 6 Months Ended |
Jun. 30, 2023 | |
Equity Method Investments [Abstract] | |
South Mountain Project [Text Block] | 3. South Mountain Project BeMetals Option Agreement: On December 30, 2022, the Company agreed to terminate the Option Agreement, with BeMetals Corporation. The BeMetals Option Agreement ("the Option Agreement") was entered into on February 27, 2019, under the original terms of the Option Agreement, BeMetals provided the funding to SMMI for project expenses including management services. According to the terms of the Option Agreement BMET USA and SMMI entered a management contract whereby BeMetals paid $25,000 monthly to SMMI for management services to enable BMET to perform exploration and development work with respect to the South Mountain Project. Management service income of $1 50,000 was recognized during the six-month period ended June 30, 2022. On February 7, 2023, the Company entered into Mutual Release (the "Release") with BeMetals Corp. whereby the Company acknowledged and agreed that BeMetals had completed all of its obligations under the Option Agreement in consideration of a final payment of $33,530, which includes payment of all expenditures incurred through the date of termination. The Company also agreed that BeMetals shall not be obligated to make any additional payments or share issuances further expenditures. The release discharges both parties from any and all claims arising in connection with the Option Agreement Subsequent to the receipt of the Release payment, the Company made payments of $6,035 related to expenses attributable to the Option Agreement and covered under the Release. For the six month period ended June 30, 2023, the remaining balance of $27,495 was recognized in other accrued liabilities, to cover any additional expenses associated with the Option Agreement. On April 12, 2023, the Company received a notice of Complaint filed in the fourth judicial district court of the State of Idaho by a law firm representing a former mining contractor who had worked on the South Mountain Mine project in the Fall of 2020. The Complaint alleges the Company owes the contractor for past services related to the BeMetals Option Agreement. The Company has contested the amount owing and expects the action to be settled without a material impact on the Company's financial position. SMMI Joint Venture - OGT, LLC The Company's wholly owned subsidiary SMMI is the sole manager of the South Mountain Project in its entirety through a separate Mining Lease with Option to Purchase ("Lease Option") with the Company's majority-owned subsidiary OGT. SMMI has an option to purchase the South Mountain mineral interest for a capped $5 million less net returns royalties paid through the date of exercise. The Lease Option expires in November 2026. If SMMI exercises the option, the option payment of $5 million less advance royalties will be distributed 100% by OGT to OGT's minority member. Under the Lease Option, SMMI pays an advance of $5,000 net returns royalty to OGT annually on November 4 which is distributed to OGT's minority member. |
Investment in BeMetals Corp.
Investment in BeMetals Corp. | 6 Months Ended |
Jun. 30, 2023 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment in BeMetals Corp. [Text Block] | 4. Investment in BeMetals Corp. In June 2019 in connection with the BeMetals Option Agreement (see Note 3), the Company received 10,000,000 shares of BeMetals Corp. common stock that had a fair value of $1,883,875. For the three and six month periods ended June 30, 2023 the Company recognized an unrealized gain on the investment in BeMetals of $194,848 and $47,420, respectively. The Company recognized an unrealized loss of $381,924 and a loss of $620,988 for the three- and six-month periods ended June 30, 2022. |
Property and Equipment
Property and Equipment | 6 Months Ended |
Jun. 30, 2023 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment [Text Block] | 5. In May of 2023 the Company's tent building at the Sonneman portal was damaged beyond repair due to the snow. The tent building was fully depreciated and was disposed of for historical cost of $65,071. Also, the Company disposed of fully depreciated mining equipment of $21,990, total assets disposed of for the period ended June 30, 2023 was $87,061 The Company's property and equipment are as follows: June 30 December 31, 2023 2022 Vehicles $ 22,441 22,441 Buildings - 65,071 Construction Equipment 30,407 36,447 Mining Equipment 42,696 58,646 95,544 182,605 Accumulated Depreciation (95,544 ) (182,053 ) - 552 Land 280,333 280,333 Total Property and Equipment $ 280,333 280,885 |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2023 | |
Related Party Transactions [Abstract] | |
Related Party Transactions [Text Block] | 6. Board of Directors Compensation On March 16, 2022, the Company's Compensation Committee recommended that the Company's Board of Directors receive nominal compensation for their service. The Company's Board of Directors passed the resolution for Board members compensation amount of cash compensation paid to the Board of Directors was $6,000. Deferred Officer Compensation Three of the Company's officers began deferring compensation for services on April 1, 2015. On July 31, 2018, the Company stopped expensing and deferring compensation for the three Company officers in the interest of marketing the SMMI project. As part of the BeMetals agreement (Note 3), the Company resumed compensation for these officers on May 15, 2019. The officers' deferred compensation balances at June 30, 2023 and December 31, 2022 represent the balances deferred prior to the BeMetals agreement and are as follows: Eric Jones, President and Chief Executive Officer - $420,000; Jim Collord, Vice President and Chief Operating Officer - $420,000; and Larry Thackery, Chief Financial Officer - $201,500, for a total of $1,041,500. Accrued Related Party Liability From 2015 to 2018 the Company engaged Baird Hanson LLP ("Baird"), a company owned by one of the Company's former directors, to provide legal services. The Company's director Joseph Baird retired from the Board of Directors of Thunder Mountain Gold, Inc., and from all other positions or offices with the Company effective April 11, 2022. Baird received $10,000 in payments for the six month period ended June 30, 2023. At June 30, 2023, and December 31, 2022, the balance due to Baird for prior years' legal services was $136,685 and $146,685, respectfully. On May 10, 2022, the Company agreed to facilitate the sale of 1,000,000 shares of the Company's common stock held by Joseph Baird, one of the Company's former directors and a shareholder. In anticipation of the sale, the Company received $10,000 for the sale of shares that had not yet transferred to the purchasers. The Company held those funds in prepaid expenses, deposits, and other assets with a corresponding liability due to Mr. Baird of $10,000. Mr. Baird decided not to sell 1,000,000 shares of the Company's common stock, the funds were returned to the perspective buyer on February 2, 2023 and the associated liability was relieved. |
Stockholders' Equity
Stockholders' Equity | 6 Months Ended |
Jun. 30, 2023 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity [Text Block] | 7. The Company's common stock has a par value of $0.001 with 200,000,000 shares authorized. The Company also has 5,000,000 authorized shares of preferred stock with a par value of $0.0001. |
Stock Options
Stock Options | 6 Months Ended |
Jun. 30, 2023 | |
Share-based Payment Arrangement [Abstract] | |
Stock Options [Text Block] | 8. The Company has a Stock Incentive Plan (the "SIP"), authorize the granting of stock options up to 10 percent of the total number of issued and outstanding shares of common stock, that provides for the grant of stock options, incentive stock options, stock appreciation rights, restricted stock awards, and incentive awards to eligible individuals including directors, executive officers and advisors that have furnished bona fide services to the Company not related to the sale of securities in a capital-raising transaction. On July 12, 2022, the Company's shareholders, at their Annual Meeting, ratified and reapproved the Stock Option Plan. In March 2022, the Company granted 1,820,000 stock options to officers and share-based payment awards to nonemployees of $13,920. The Company has elected to recognize the effect of forfeitures in compensation cost when they occur. Previously recognized compensation cost for a nonemployee share-based payment award shall be reversed in the period that the award is forfeited. The options are exercisable on or before March 21, 2027, and have an exercise price of $0.09. The fair value of each option award was estimated on the date of the grant using the assumptions noted in the following table: March 21, 2022 Stock price $0.088 Exercise price $0.09 Expected volatility 188.9% Expected dividends - Expected terms (in years) 5.0 Risk-free rate 2.39% For the six month ended June 30, 2023, no options were granted and no options expired. The following is a summary of the Company's options issued and outstanding under the SIP: Shares Weighted Average Exercise Price Outstanding and exercisable at December 31, 2021 3,355,000 $ 0.10 Granted 1,820,000 0.09 Expired (400,000 ) 0.09 Outstanding and exercisable at December 31, 2022 4,775,000 0.10 Outstanding and exercisable at June 30, 2022 4,775,000 $ 0.093 The average remaining contractual term of the options outstanding and exercisable at June 30, 2023 was 2.22 years. On June 30, 2023, options outstanding and exercisable had no aggregate intrinsic value based on the Company's stock price of $0.06 on June 30, 2023. |
Leases
Leases | 6 Months Ended |
Jun. 30, 2023 | |
Leases [Abstract] | |
Leases [Text Block] | 9. Leases The Company accounts for its leases under ASC 842, Leases The Company renewed its office operating lease on February 1, 2023, for 24 months. The Company entered into a two-year operating lease for its corporate office space for a total lease payment of $41,625, and as a result a liability and right-of-use asset of $38,701 was recognized on the lease inception date, February 1, 2023. To calculate the liability and right of use asset, the Company utilized a 7.0% incremental borrowing rate to discount the future rent payments of approximately $1,734 per month over the two-year lease term. Right of Use (ROU) asset balance as of June 30, 2023 Total Amount Lease Present Value $ 38,701 Average Expense (8,625 ) Rent Expense Paid 8,438 Lease Liability (7,442 ) Balance Amount $ 31,072 The Company's ROU asset decreased by the net amount of $7,629 for a total amount of $31,072, for the period ended June 30, 2023. The lease contains no renewal option. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2023 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | 10. None |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies and Business Operations (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Business Operations [Policy Text Block] | Business Operations Thunder Mountain Gold, Inc. ("Thunder Mountain", "THMG", or "the Company") was originally incorporated under the laws of the State of Idaho on November 9, 1935, under the name of Montgomery Mines, Inc. In April 1978, the Montgomery Mines Corporation was obtained by a group of the Thunder Mountain property holders and changed its name to Thunder Mountain Gold, Inc., with the primary goal to further develop their holdings in the Thunder Mountain Mining District, located in Valley County, Idaho. Thunder Mountain Gold, Inc. takes its name from the Thunder Mountain Mining District, where its principal lode mining claims were located. For several years, the Company's activities were restricted to maintaining its property position and exploration activities. During 2005, the Company sold its holdings in the Thunder Mountain Mining District. During 2007, the Company acquired the South Mountain Mines property in southwest Idaho and initiated exploration activities on that property, which continue today. On December 30, 2022, Thunder Mountain Gold, Inc. by and through its subsidiaries Thunder Mountain Resources, Inc., a Nevada Corporation, and South Mountain Mines, Inc., an Idaho Corporation ("SMMI") (collectively the "Company", "THMG", or "We", "Our" or "Us") agreed to terminate an Option Agreement, (the " BeMetals Option Agreement BeMetals BMET The "BeMetals Option Agreement was entered into on February 27, 2019, the original terms of the Option Agreement, BeMetals provided the funding to SMMI for project expenses including Management Services Income. The Company has 8 million common shares of BMET USA with a market value of $786,032, and the Company had cash and cash equivalents of $304,367 for the six months ended June 30, 2023. See Note 3 for further information. |
Basis of Presentation and Going Concern [Policy Text Block] | Basis of Presentation and Going Concern The accompanying condensed consolidated financial statements have been prepared under the assumption that the Company will continue as a going concern. The Company has historically incurred losses, however, the Company has cash reserves and available for sale securities sufficient to cover normal operating expenses for the following 12 months. If necessary, the Company continues to have the ability to raise additional capital in order to fund its future exploration and working capital requirements. |
Principles of Consolidation [Policy Text Block] | Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company; its wholly owned subsidiaries, Thunder Mountain Resources, Inc. ("TMRI") and South Mountain Mines, Inc. ("SMMI"); and a company in which the Company owns 75% and has majority control, Owyhee Gold Trust, LLC ("OGT"). The Company's condensed consolidated financial statements reflect the other investor's 25% non-controlling, capped interest in OGT. Intercompany accounts are eliminated in consolidation. |
Accounting Estimates [Policy Text Block] | Accounting Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions include the carrying value of properties and mineral interests, environmental remediation liabilities, deferred tax assets, and stock-based compensation. Management's estimates and assumptions are based on historical experience and other assumptions believed to be reasonable under the circumstances. Actual results could differ from those estimates. |
Revenue Recognition [Policy Text Block] | Revenue Recognition Management service revenue is recognized when the Company has satisfied its performance obligation required under its management contract with BeMetals. Such an obligation is satisfied over time as work is performed and the Company has a contractual right to payment. |
Income Taxes [Policy Text Block] | Income Taxes The Company recognizes deferred income tax liabilities or assets at the end of each period using the tax rate expected to be in effect when the taxes are actually paid or recovered. A valuation allowance is recognized on deferred tax assets when it is more likely than not that some or all of the deferred tax assets will not be realized. |
Cash and Cash Equivalents [Policy Text Block] | Cash and Cash Equivalents For the purposes of the balance sheet and statement of cash flows, the Company considers all highly liquid investments with a maturity of three months or less when purchased to be a cash equivalent. |
Fair Value Measurements [Policy Text Block] | Fair Value Measurements When required to measure assets or liabilities at fair value, the Company uses a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used. The Company determines the level within the fair value hierarchy in which the fair value measurements in their entirety fall. The categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Level 1 uses quoted prices in active markets for identical assets or liabilities, Level 2 uses significant other observable inputs, and Level 3 uses significant unobservable inputs. The amount of the total gains or losses for the period are included in earnings that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date. At June 30, 2023, the Company has one financial asset, investment in equity security, that is adjusted to fair value on a recurring basis for which the fair value is determined based on Level 1 inputs as the equity security is traded on a stock exchange. The Company has no financial liabilities that are adjusted to fair value on a recurring basis. |
Financial Instruments [Policy Text Block] | Financial Instruments The Company's financial instruments include cash and cash equivalents, and the investment in BeMetal's equity securities, the carrying value of which approximates fair value based on the nature of those instruments. |
Investments [Policy Text Block] | Investments The Company determines the appropriate classification of investments at the time of acquisition and re-evaluates such determinations at each reporting date. Equity securities that have a readily determined fair value are carried at fair value determined using Level 1 fair value measurement inputs with the change in fair value recognized as unrealized gain (loss) in the condensed consolidated statement of operations each reporting period. Gains and losses on the sale of securities are recognized on a specific identification basis. |
Mineral Interests [Policy Text Block] | Mineral Interests The Company capitalizes costs for acquiring mineral interests, and expenses costs to maintain mineral rights and leases as incurred. Exploration costs are expensed in the period in which they occur. Should a property reach the production stage, these capitalized costs would be amortized using the units-of-production method based on periodic estimates of ore reserves. Mineral interests are periodically assessed for impairment of value and any subsequent losses are charged to operations at the time of impairment. If a mineral interest is abandoned or sold, its capitalized costs are charged to operations. Consideration received by the Company pursuant to joint ventures or purchase option agreements is applied against the carrying value of the related mineral interest. When and if payments received exceed the carrying value, the excess amount is recognized as a gain in the condensed consolidated statement of operations in the period the consideration is received. |
Leases [Policy Text Block] | Leases Arrangements meeting the definition of a lease are classified as operating or financing leases and are recorded on the condensed consolidated balance sheet as both a right-of-use asset and lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company's incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and the right-of-use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right-of-use asset result in straight-line rent expense over the lease term. For finance leases, interest on the lease liability and the amortization of the right-of-use asset results in front-loaded expense over the lease term. Variable lease expenses are recorded when incurred. |
Investments in Joint Ventures [Policy Text Block] | Investments in Joint Ventures For companies and joint ventures where the Company holds more than 50% of the voting interests, but less than 100%, and has significant influence, the company or joint venture is consolidated, and other investor interests are presented as noncontrolling. See Note 3 regarding the Company's investment in Owyhee Gold Trust. Joint ventures in which the Company has the ability to exercise significant influence, but does not control, are accounted for under the equity method of accounting. |
Reclamation and Remediation [Policy Text Block] | Reclamation and Remediation The Company's operations have been, and are subject to, standards for mine reclamation that have been established by various governmental agencies. The Company would record the fair value of an asset retirement obligation as a liability in the period in which the Company incurred a legal obligation for the retirement of tangible long-lived assets. A corresponding asset would also be recorded and depreciated over the life of the asset. For non-operating properties, the Company accrues costs associated with environmental remediation obligations when it is probable that such costs will be incurred, and they are reasonably estimable. Such costs are based on management's estimate of amounts expected to be incurred when the remediation work is performed. The Company had accrued $81,250 at June 30, 2023 and December 31, 2022, respectively, on its condensed consolidated balance sheets relating to estimated mine closure and reclamation costs on its South Mountain Mines property. |
Share-Based Compensation [Policy Text Block] | Share-Based Compensation Share-based payments to employees and directors, including grants of employee stock options, are measured at fair value and expensed in the condensed consolidated statements of operations over the vesting period. |
Recent Accounting Pronouncements [Policy Text Block] | Recent Accounting Pronouncements Accounting Standards Updates In June 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2022-03 Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Resale Restrictions Accounting Standards Adopted In August 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2020- 06 Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption. |
Net Income (Loss) Per Share [Policy Text Block] | Net Income (Loss) Per Share The Company is required to have dual presentation of basic earnings per share ("EPS") and diluted EPS. The Company calculates basic earnings (loss) per share by dividing net income or loss available to common stockholders by the weighted average number of common shares outstanding. Diluted earnings per share reflect potentially dilutive common stock equivalents, including options and warrants that could share in our earnings through the conversion to common shares, except where their inclusion would be anti-dilutive. For the three and six months ended June 30, 2023 and June 30, 2022, outstanding common stock equivalents were excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive due to the net loss for the period. |
Mineral Interest Commitments (T
Mineral Interest Commitments (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of committed payments [Table Text Block] | Annual Payment Acree Lease (June) $ 3,390 Lowry Lease (October) 11,280 Total $ 14,670 |
Schedule of claim fees paid on unpatented claims [Table Text Block] | Target Area 2023 Trout Creek -State of Nevada $ 4,290 Trout Creek -Lander County, Nevada 324 South Mountain-State of Idaho 3.465 Total $ 8,079 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Property, Plant and Equipment [Abstract] | |
Schedule of property and equipment [Table Text Block] | June 30 December 31, 2023 2022 Vehicles $ 22,441 22,441 Buildings - 65,071 Construction Equipment 30,407 36,447 Mining Equipment 42,696 58,646 95,544 182,605 Accumulated Depreciation (95,544 ) (182,053 ) - 552 Land 280,333 280,333 Total Property and Equipment $ 280,333 280,885 |
Stock Options (Tables)
Stock Options (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Share-based Payment Arrangement [Abstract] | |
Schedule of fair value assumptions [Table Text Block] | March 21, 2022 Stock price $0.088 Exercise price $0.09 Expected volatility 188.9% Expected dividends - Expected terms (in years) 5.0 Risk-free rate 2.39% |
Schedule of options issued and outstanding [Table Text Block] | Shares Weighted Average Exercise Price Outstanding and exercisable at December 31, 2021 3,355,000 $ 0.10 Granted 1,820,000 0.09 Expired (400,000 ) 0.09 Outstanding and exercisable at December 31, 2022 4,775,000 0.10 Outstanding and exercisable at June 30, 2022 4,775,000 $ 0.093 |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Leases [Abstract] | |
Schedule of right of use (ROU) asset [Table Text Block] | Right of Use (ROU) asset balance as of June 30, 2023 Total Amount Lease Present Value $ 38,701 Average Expense (8,625 ) Rent Expense Paid 8,438 Lease Liability (7,442 ) Balance Amount $ 31,072 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies and Business Operations (Narrative) (Details) - USD ($) shares in Millions | 1 Months Ended | |||
Jun. 30, 2019 | Feb. 27, 2019 | Jun. 30, 2023 | Dec. 31, 2022 | |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||
Cash and cash equivalents | $ 304,367 | $ 682,718 | ||
Accrued reclamation costs | $ 81,250 | $ 81,250 | ||
Owyhee Gold Trust, LLC [Member] | ||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||
Percentage of ownership interest | 75% | |||
Owyhee Gold Trust, LLC [Member] | ||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||
Ownership percentage by noncontrolling owners | 25% | |||
BeMetals USA Corp [Member] | ||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||
Number of shares received | 8 | |||
Fair value of common shares received | $ 786,032 | |||
Cash and cash equivalents | $ 304,367 | |||
BeMetals Option Agreement [Member] | BeMetals USA Corp [Member] | ||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||
Fair value of common shares received | $ 1,883,875 |
Mineral Interest Commitments (N
Mineral Interest Commitments (Narrative) (Details) | 1 Months Ended | 6 Months Ended |
Jan. 31, 2023 USD ($) a | Jun. 30, 2023 USD ($) a | |
Other Commitments [Line Items] | ||
Area of land | a | 56 | |
Purchase price of land | $ 50,000 | |
Payments made | $ 10,000 | |
Real estate purchase and sale remaining balance due | $ 40,000 | |
Real estate purchase and sale agreement terms | Failure to make the payment forfeits the deposit of $10,000 and cancels the agreement. | |
Lease contract | 7 years | |
Annual committed lease payments per acre per original agreement | $ 20 | |
Lease renewal term | 10 years | |
Annual committed lease payments per acre | $ 30 | |
Trout Creek [Member] | ||
Other Commitments [Line Items] | ||
Area of land | a | 533 | |
Number of unpatented claims | 26 | |
South Mountain [Member] | ||
Other Commitments [Line Items] | ||
Number of unpatented claims | 21 |
Mineral Interest Commitments -
Mineral Interest Commitments - Schedule of other commitments (Details) | 6 Months Ended |
Jun. 30, 2023 USD ($) | |
Other Commitments [Line Items] | |
Payments to Acquire Mineral Rights | $ 14,670 |
Acree Lease (June) [Member] | |
Other Commitments [Line Items] | |
Payments to Acquire Mineral Rights | 3,390 |
Lowry Lease (October) [Member] | |
Other Commitments [Line Items] | |
Payments to Acquire Mineral Rights | $ 11,280 |
Mineral Interest Commitments _2
Mineral Interest Commitments - Schedule of unpatented claims lease payments (Details) | 6 Months Ended |
Jun. 30, 2023 USD ($) | |
Other Commitments [Line Items] | |
Unpatented claims lease payments | $ 8,079 |
Trout Creek [Member] | State of Nevada [Member] | |
Other Commitments [Line Items] | |
Unpatented claims lease payments | 4,290 |
Trout Creek - Lander County [Member] | State of Nevada [Member] | |
Other Commitments [Line Items] | |
Unpatented claims lease payments | 324 |
South Mountain [Member] | State of Idaho [Member] | |
Other Commitments [Line Items] | |
Unpatented claims lease payments | $ 3.465 |
South Mountain Project (Narrati
South Mountain Project (Narrative) (Details) - USD ($) | 6 Months Ended | ||
Feb. 07, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | |
SMMI Joint Venture - OGT, LLC [Member] | |||
South Mountain Project [Line Items] | |||
Advanced payment on royalties | $ 5,000,000 | ||
Advance net returns on royalty | 5,000 | ||
BeMetals Option Agreement [Member] | BeMetals USA Corp [Member] | |||
South Mountain Project [Line Items] | |||
Monthly payments for management services to perform exploration and development work | 25,000 | ||
Management service income | $ 150,000 | ||
BeMetals Option Agreement [Member] | Mutual Release Agreement [Member] | |||
South Mountain Project [Line Items] | |||
Consideration of a final payment | $ 33,530 | ||
Expenses related to options | $ 6,035 | ||
Other accrued liabilities | $ 27,495 |
Investment in BeMetals Corp. (N
Investment in BeMetals Corp. (Narrative) (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Feb. 27, 2019 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Net Investment Income [Line Items] | ||||||
Unrealized gain (loss) on investment | $ 194,848 | $ (381,924) | $ 47,420 | $ (620,988) | ||
BeMetals USA Corp [Member] | ||||||
Net Investment Income [Line Items] | ||||||
Fair value of common shares received | $ 786,032 | |||||
Unrealized gain (loss) on investment | $ 194,848 | $ (381,924) | $ 47,420 | $ (620,988) | ||
BeMetals Option Agreement [Member] | BeMetals USA Corp [Member] | ||||||
Net Investment Income [Line Items] | ||||||
Number of common shares received | 10,000,000 | |||||
Fair value of common shares received | $ 1,883,875 |
Property and Equipment (Narrati
Property and Equipment (Narrative) (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | |
Property, Plant and Equipment [Line Items] | ||
Property and Equipment, Gross | $ 95,544 | $ 182,605 |
Assets disposed | 87,061 | |
Buildings [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and Equipment, Gross | 0 | 65,071 |
Mining Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and Equipment, Gross | 42,696 | $ 58,646 |
Assets disposed | $ 21,990 |
Property and Equipment - Schedu
Property and Equipment - Schedule of property and equipment (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Property, Plant and Equipment [Line Items] | ||
Property and Equipment, Gross | $ 95,544 | $ 182,605 |
Accumulated Depreciation | (95,544) | (182,053) |
Property and Equipment Net, Excluding Land | 0 | 552 |
Land | 280,333 | 280,333 |
Property, Plant And Equipment Excluding Deposit On Land | 280,333 | |
Total property and equipment | 290,333 | 280,885 |
Vehicles [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and Equipment, Gross | 22,441 | 22,441 |
Buildings [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and Equipment, Gross | 0 | 65,071 |
Construction Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and Equipment, Gross | 30,407 | 36,447 |
Mining Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and Equipment, Gross | $ 42,696 | $ 58,646 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
May 10, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Related Party Transaction [Line Items] | ||||||
Amount of compensation paid to the Board of Directors | $ 6,000 | |||||
Payments on related parties notes payable | 0 | $ 38,000 | ||||
Legal and accounting | $ 12,147 | $ 14,545 | 76,963 | $ 85,092 | ||
Accounts payable and other accrued liabilities | 43,807 | 43,807 | $ 27,599 | |||
Deferred officer compensation | 1,041,500 | 1,041,500 | 1,041,500 | |||
Eric Jones [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Deferred officer compensation | 420,000 | 420,000 | 420,000 | |||
James Collord [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Deferred officer compensation | 420,000 | 420,000 | 420,000 | |||
Larry Thackery [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Deferred officer compensation | 201,500 | 201,500 | 201,500 | |||
Baird Hanson LLP [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Payments on related parties notes payable | 10,000 | |||||
Legal and accounting | 136,685 | $ 146,685 | ||||
Sale of common stock | 1,000,000 | |||||
Amount of sale of stock | $ 10,000 | |||||
Accounts payable and other accrued liabilities | $ 10,000 | $ 10,000 | ||||
Number of shares not sold | 1,000,000 |
Stockholders' Equity (Narrative
Stockholders' Equity (Narrative) (Details) - $ / shares | Jun. 30, 2023 | Dec. 31, 2022 |
Stockholders' Equity Note [Abstract] | ||
Common stock, par value per share | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, par value per share | $ 0.0001 | $ 0.0001 |
Stock Options (Narrative) (Deta
Stock Options (Narrative) (Details) - USD ($) | 1 Months Ended | 6 Months Ended | 12 Months Ended |
Mar. 21, 2022 | Jun. 30, 2023 | Dec. 31, 2022 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock options granted to officers and directors | 1,820,000 | 1,820,000 | |
Stock options granted to directors, fair value | $ 158,341 | ||
Compensation cost recognized for share-based payment awards to nonemployees | $ 13,920 | ||
Exercise price | $ 0.09 | $ 0.09 | |
Weighted average remaining contractual term | 2 years 2 months 19 days | ||
Share Price | $ 0.088 | $ 0.06 |
Stock Options - Schedule of ass
Stock Options - Schedule of assumptions used to estimated the fair value of option award (Details) - $ / shares | 1 Months Ended | |
Mar. 21, 2022 | Jun. 30, 2023 | |
Share-based Payment Arrangement [Abstract] | ||
Stock price | $ 0.088 | $ 0.06 |
Exercise price | $ 0.09 | |
Expected volatility | 188.90% | |
Expected dividends | 0% | |
Expected terms (in years) | 5 years | |
Risk-free rate | 2.39% |
Stock Options - Schedule of sum
Stock Options - Schedule of summary of options issued and outstanding (Details) - $ / shares | 1 Months Ended | 12 Months Ended | |
Mar. 21, 2022 | Dec. 31, 2022 | Jun. 30, 2023 | |
Share-based Payment Arrangement [Abstract] | |||
Options Outstanding, at beginning | 3,355,000 | ||
Weighted Average Exercise Price, Outstanding at Beginning | $ 0.1 | ||
Shares Granted | 1,820,000 | 1,820,000 | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 0.09 | $ 0.09 | |
Shares Expired | (400,000) | ||
Weighted Average Exercise Price, Expired | $ 0.09 | ||
Options Outstanding, at beginning | 4,775,000 | 4,775,000 | |
Weighted Average Exercise Price, Outstanding at Ending | $ 0.1 | $ 0.093 |
Leases (Narrative) (Details)
Leases (Narrative) (Details) - USD ($) | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Leases [Abstract] | |||
Operating lease term | 2 years | ||
Lease payments | $ 41,625 | ||
Operating lease liability arising from obtaining right to use asset | $ 38,701 | $ 0 | |
Borrowing rate of operating lease | 7% | ||
Rent payments of operating lease | $ 1,734 | ||
Right to used asset decreased amount | 7,629 | ||
Right to use asset | $ 31,072 | $ 0 |
Leases (Details)
Leases (Details) - USD ($) | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Leases [Abstract] | |||
Lease Present Value | $ 38,701 | $ 0 | |
Average Expense | (8,625) | ||
Rent Expense Paid | 8,438 | ||
Lease Liability | (7,442) | ||
Balance Amount | $ 31,072 | $ 0 |