Past year: ▲ 95%(42.0c – 88.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
8 June 2026auditor change▼ Bad
Auditor Assure CPA merged into Sadler Gibb & Associates and resigned; Sadler Gibb was engaged for fiscal 2026. Assure's audit reports for fiscal 2024 and 2025 both carried a going-concern qualification -- a real financial-health flag that predates and survives the auditor switch.
4 Nov 2025capital raising announcement▲ Good
Closed a $2.5M private placement (10M units at $0.25, warrants at $0.40) -- continuing the trend of larger raises at improved pricing.
What it means for a shareholder
10.0m new shares at US$0.250 to raise about US$2.5m. That's 9.7% dilution: every existing holder's slice gets 9.7% smaller. If you held US$1,000 of shares (4,000 at the issue price), your slice goes from 0.00429% to 0.00387% of the company. To keep it you'd need 429 more shares - about US$107 at the issue price.
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9 Sept 2025capital raising announcement▲ GoodMajor
Signed a new, more modest deal for South Mountain: MFD Investment Holdings can earn a 10% project interest by spending $1M on exploration by October 2026, and will fund 100% of the capital needed to reach small-scale production, splitting revenue 80/20 in MFD's favor until it recoups 1.5x its investment, then 50/50 -- a concrete near-term path to cash flow after the larger BeMetals option collapsed.
30 May 2025capital raising announcement▲ Good
Closed a $1.2M private placement (10M units, $0.18 warrants) -- a larger raise at a healthier implied price than the company's typical penny-stock financings of the prior decade, in the post-BeMetals era.
6 Jan 2023material agreement▼ BadMajor
The BeMetals option to buy South Mountain outright was terminated -- ending, after four years, the most ambitious monetization attempt for the project without a sale.
17 Sept 2021material agreement● Neutral
Extended the BeMetals option period to December 2022 and required a $250,000 cash payment by the end of September 2021 -- the deal was progressing, but more slowly than the original 2019 timetable.
7 May 2021asset acquisition disposition▲ Good
Sold 2 million of the 10 million BeMetals shares received as option consideration for CAD$800,000 on the TSX Venture Exchange, monetizing part of the option payment.
4 Mar 2019material agreement▲ GoodMajor
BeMetals Corporation signed a multi-tranche option agreement to buy 100% of South Mountain Mines outright -- payments and BeMetals shares across six tranches that could total $10M+ or 20% of the project's NPV over roughly two years -- a real validation of South Mountain's value by an outside buyer.
7 May 2018capital raising announcement● Neutral
Closed the placement at 2.55M units; insider Paul Beckman bought 1M units, bringing his stake to about 21% of the company's outstanding shares.
7 Mar 2018capital raising announcement● Neutral
Opened a new private placement (5.36M units at $0.14, warrants at $0.20) to accredited investors.
What it means for a shareholder
5.4m new shares at US$0.140 to raise about US$750,400. That's 8.9% dilution: every existing holder's slice gets 8.9% smaller. If you held US$1,000 of shares (7,143 at the issue price), your slice goes from 0.013% to 0.0118% of the company. To keep it you'd need 695 more shares - about US$97 at the issue price.
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12 May 2016material agreement▼ Bad
Extended and discounted 5 million warrants from the November 2014 financing (from $0.15 down to $0.10, six more months) to induce holders to exercise -- another sign of a weak share price and a need for cash.
3 Dec 2014capital raising announcement● Neutral
Closed a $487,500 private placement (9.75M units at $0.05) for exploration and working capital.
What it means for a shareholder
9.8m new shares at US$0.050 to raise about US$487,500. That's 20% dilution: every existing holder's slice gets 20% smaller. If you held US$1,000 of shares (20,000 at the issue price), your slice goes from 0.0529% to 0.042% of the company. To keep it you'd need 5,156 more shares - about US$258 at the issue price.
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15 Nov 2012capital raising announcement▲ GoodMajor
Formed the Owyhee Gold Trust LLC joint venture with Idaho State Gold Company for South Mountain, and cancelled the $1M secured note from May 2012 -- its principal credited instead to ISGC's capital account in the new JV, removing the all-assets lien and default risk.
4 May 2012capital raising announcement▼ BadMajor
Took a $1M secured convertible note from Idaho State Gold Company (ISGC) -- a related party, since director G. Peter Parsley is also employed by ISGC -- tied to a proposed South Mountain joint venture; the note carried 8% interest and a first-priority lien over all company assets, a real default-risk exposure until the JV closed.
15 Nov 2011capital raising announcement● Neutral
The terms behind the CAD$204,000 placement reported the day before: 1.2 million units at 17 Canadian cents, each carrying a two-year warrant at 20 cents that the company can force to be exercised if the shares hold above 25 cents for a month. Priced above where its own directors had been buying in the market that autumn.
14 Nov 2011capital raising announcement● Neutral
Closed a small CAD$204,000 private placement; separately, the board ratified a Letter of Intent with Green River Energy Corporation regarding a possible transaction that does not appear to have been carried forward.
20 May 2011capital raising announcement▲ GoodMajor
Launched a much larger CAD$4.5M offering (up to 18M units) to fund South Mountain and the company's new Trout Creek/Reese River Valley exploration joint venture with Newmont in Nevada -- a real validation from a major gold producer.
1 Oct 2010capital raising announcement▲ GoodMajor
Began trading on the TSX Venture Exchange (ticker THM) and closed out the CAD$1.24M private placement, with proceeds earmarked for exploration at South Mountain.
16 Sept 2010capital raising announcement▲ GoodMajor
Launched a CAD$1.2M offering (6M units) tied to an planned TSX Venture Exchange listing, with the first tranche of 1.46M units (~CAD$292,000) closing immediately.
12 May 2010capital raising announcement● Neutral
Closed a $250,000 private placement (1.25M units at CAD$0.20) with a two-series warrant structure.
What it means for a shareholder
1.3m new shares at C$0.200 to raise about C$250,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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30 Sept 2009material agreement▼ Bad
Offered to reprice outstanding warrants from prior 2008-2009 placements down to $0.15 (from $0.30-$0.40) in exchange for prompt exercise -- a sign the depressed share price had left those warrants underwater and the company needed the cash.
10 Sept 2009debt financing● Neutral
Signed a Letter of Intent with Kenai Resources Ltd. (British Columbia) to form a Canadian subsidiary, Thunder Mountain Resources Ltd. -- an early step toward the TSX Venture Exchange listing completed a year later.
13 Aug 2009capital raising announcement● Neutral
Closed a small $75,000 private placement (375,000 units at $0.20, warrants at $0.30).
What it means for a shareholder
375,000 new shares at US$0.200 to raise about US$75,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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2 Sept 2008capital raising announcement● Neutral
A correction to July's placement closing: a banking error meant the company had actually taken in $555,000, not the $550,000 reported, from 2,775,000 units. Pennaluna & Company placed about 60% of it for a $33,000 commission.
24 July 2008capital raising announcement▲ Good
Closed the placement oversubscribed at 2.775M units for $550,000 total.
14 May 2008capital raising announcement● Neutral
Opened a private placement of up to 2.5M units ($0.20/unit, $0.40 warrants) to accredited investors, with Pennaluna & Company as placement agent.
3 Oct 2007asset acquisition disposition▲ Good
Completed the South Mountain Mines acquisition, closing the $300,000 stock purchase.
11 June 2007asset acquisition disposition▲ GoodMajor
Agreed to buy South Mountain Mines, Inc. -- 17 patented claims (326 acres) in the South Mountain Mining District, Owyhee County, Idaho -- for $300,000, with a $50,000 deposit paid; this property becomes the company's flagship asset for the next two decades.
1 May 2007capital raising announcement● Neutral
Raised $125,000 through an insider-only private placement (directors, management and consultants) at $0.05/share, with a 36-month lockup on the shares.
27 Sept 2005asset acquisition disposition▲ GoodMajor
Closed the Dewey Mining transactions: paid $3.3M for the stock and Dewey's own shares, sold the Valley County land to the Trust for Public Land, and netted about $2.2M in proceeds after dissolving Dewey Mining.
