THMG 10-Q
Thunder Mountain Gold Inc (THMG)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2021
OR
¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________ to __________
Commission File Number: 001-08429
THUNDER MOUNTAIN GOLD INC
(Exact name of Registrant as specified in its charter)
| Nevada | 91-1031015 | |
|---|---|---|
| (State or other jurisdiction of incorporation or organization) | (IRS identification No.) | |
| 11770 W President Dr. STE F | ||
| Boise, ID | 83713-8986 | |
| (Address of Principal Executive Offices) | (Zip Code) | |
| (208) 658-1037 | ||
| (Registrant’s Telephone Number, including Area Code) |
Securities registered pursuant to Section 12(g) of the Act:
| Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered |
|---|---|---|
| Common Stock, $0.001 par value | THMG<br><br>THM | OTCQB<br><br>TSX-V |
(Former name, former address and former fiscal year, if changed since last report)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. x Yes ¨ No
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). x Yes ¨ No
Indicate by check mark whether the Registrant is ¨ a large accelerated filer, ¨ an accelerated file, x a non-accelerated filer, x a smaller reporting company (as defined in Rule 12b-2 of the Exchange Act) or ¨ an emerging growth company
Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)
¨ Yes x No
Number of shares of issuer’s common stock outstanding at July 21, 2021: 60,145,579
PART I – FINANCIAL INFORMATION3
Item 1 – Financial Statements3
Item 2. Management's Discussion and Analysis or Plan of Operation17
Item 3. Quantitative and Qualitative Disclosures about Market Risk34
Item 4. Controls and Procedures34
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.35
Item 3. Defaults Upon Senior Securities.35
Item 4. Mine Safety Disclosures35
2
PART I – FINANCIAL INFORMATION
[Thunder Mountain Gold, Inc. Consolidated Balance Sheets (Unaudited) June 30, 2021 and December 31, 2020 June 30, 2021December 31, 2020 ASSETS Current assets: Cash and cash equivalents1,030,400$ 274,155Prepaid expenses and other assets48,06720,128Total current assets1,078,467294,283 Property and Equipment: Land280,333280,333Equipment, net of accumulated depreciation of 179,265 and 177,651, respectively3,3404,954Total property and equipment283,673285,287 Right to use asset-1,332 Investment in BeMetals, at fair value (Note 4)2,390,7513,018,634Total assets3,752,891**$ 3,599,536** LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and other accrued liabilities86,286$ 60,410Accrued related party liability (Note 7)176,685186,685Accrued interest payable to related parties (Note 7)88,33988,531Operating lease liability – current (Note 10)-1,332Advance from BeMetals (Note 3)74,87538,384Deferred officer compensation (Note 7)1,041,5001,041,500Related parties notes payable (Note 7)66,768106,576Total current liabilities1,534,4531,523,418 Accrued reclamation costs65,00065,000Total liabilities1,599,4531,588,418 Commitments and Contingencies (Notes 2 and 3) Stockholders' equity: Preferred stock; 0.0001 par value, 5,000,000 shares authorized; no shares issued or outstanding--Common stock; 0.001 par value; 200,000,000 shares authorized, 60,145,579 shares issued and outstanding60,14660,146Additional paid-in capital6,336,3166,336,316Less: 11,700 shares of treasury stock, at cost(24,200)(24,200)Accumulated deficit(4,392,526)(4,534,846)Total Thunder Mountain Gold, Inc stockholders' equity1,979,7361,837,416Noncontrolling interest in Owyhee Gold Trust (Note 3)173,702173,702Total stockholders' equity2,153,4382,011,118Total liabilities and stockholders' equity3,752,891**$ 3,599,536All values are in US Dollars. The accompanying notes are an integral part of these consolidated financial statements. 3 Thunder Mountain Gold, Inc. Consolidated Statements of Operations (Unaudited) Three Months EndedSix Months Ended June 30,June 30, 2021202020212020Revenues: Gain on mineral interest--250,000- Management service income75,00075,000150,000150,000 Total revenues75,00075,000400,000150,000 Operating expenses: Exploration 2,6904,7767,7008,093 Legal and accounting32,6975,97254,50734,431 Management and administrative112,171104,933224,353367,083 Depreciation6185,2391,61410,478Total operating expenses148,176120,920288,174420,085 Other income (expense): Interest expense, related parties-(3,797)-(7,594) Unrealized gain (loss) on investment163,5071,400,412(71,011)614,141 Gain on sale of investment92,685-92,685- Other income8,5262398,820857 Total other income (expense)264,7181,396,85430,494607,404Net income191,5421,350,934142,320337,319Net Income (loss) – noncontrolling interest in Owyhee Gold Trust----Net income – Thunder Mountain Gold, Inc.191,5421,350,934142,320337,319 Net income per common share-basic and dilutedNil$0.02Nil0.01 Weighted average common shares outstanding-basic60,145,57960,145,57960,145,57960,145,579Weighted average common shares outstanding- diluted62,233,39960,145,57962,472,62460,145,579All values are in US Dollars. The accompanying notes are an integral part of these consolidated financial statements. 4 Thunder Mountain Gold, Inc. Consolidated Statements of Cash Flows (Unaudited) Six Months Ended June 30, 20212020Cash flows from operating activities: Net income142,320337,319Adjustments to reconcile net income to net cash used by operating activities: Depreciation 1,61410,478 Stock based compensation-159,740 Gain on mineral interest(250,000)- Unrealized (gain) loss on investment71,011(614,141) Gain on sale of investment(92,685)-Change in: Prepaid expenses and other assets(27,939)(15,372)Accounts payable and other accrued liabilities15,876(11,833)Accrued interest payable to related parties(192)7,594Advance from BeMetals36,491(71,184) Net cash used by operating activities(103,504)(197,399) Cash flows from investing activities: Proceeds from sale of investment649,557- Proceeds from mineral interest250,000- Net cash provided by investing activities899,557- Cash flows from financing activities: Proceeds from SBA PPP Loan-48,000 Payments on related parties notes payable(39,808)- Net cash (used) provided by financing activities(39,808)48,000 Net increase (decrease) in cash and cash equivalents756,245(149,399)Cash and cash equivalents, beginning of period274,155252,415Cash and cash equivalents, end of period** $ 1,030,400103,016All values are in US Dollars. The accompanying notes are an integral part of these consolidated financial statements. 5 6]()
[Thunder Mountain Gold, Inc. **Consolidated Statements of Changes in Stockholders’ Equity (Unaudited)**For three-months periods ended June 30, 2021 and June 30, 2020 Common Stock Shares Common Stock Amount Additional Paid-In Capital Treasury Stock Accumulated Deficit Non-Controlling Interest in OGT Total Balances at April 1, 202060,145,579 $ 60,146$ 6,336,316$(24,200)$ (6,765,143)$ 173,702(219,179) Net income- ---1,350,934 1,350,934Balances at June 30, 202060,145,579 $ 60,146$ 6,336,316$(24,200)$ (5,414,208)$ 173,702$ 1,131,756 Balances at April 1, 202160,145,579 $ 60,146$ 6,336,316$(24,200)$ (4,584,069)$ 173,702$ 1,961,895Net income- ---191,542-191,542 Balances at June 30, 202160,145,579 $ 60,146$ 6,336,316$(24,200)$ (4,392,526)$ 173,702$ 2,153,438 Balances at January 1, 202060,145,579 $ 60,146$ 6,176,576$(24,200)$ (5,751,527)$ 173,702$ 634,697 Stock based compensation- -159,740---159,740 Net income- ---337,319-337,319Balances at June 30, 202060,145,579 $ 60,146$ 6,336,316$(24,200)$ (5,414,208)$ 173,702$ 1,131,756 Balances at January 1, 202160,145,579 $ 60,146$ 6,336,316$(24,200)$ (4,534,846)$ 173,702$ 2,011,118 Net income - ---142,320-142,320 Balances at June 30, 202160,145,579 $ 60,146$ 6,336,316$(24,200)$ (4,392,526)$ 173,702$ 2,153,438 The accompanying notes are an integral part of these consolidated financial statements. 7]()
1. Summary of Significant Accounting Policies and 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 February 27, 2019, the Company entered into an Option Agreement, (the “BeMetals Option Agreement”) with BeMetals Corporation. Under the terms of the BeMetals Option Agreement, BMET USA will be entitled to purchase 100% of the issued and outstanding shares of South Mountain Mines, Inc. (“SMMI”) from Thunder Mountain Resources, Inc. (“TMRI”), both wholly owned subsidiaries of the Company. The original term of the agreement was for two years, but was extended on May 18, 2020, by three months from the existing BeMetals Option Agreement date, due to the COVID-19 pandemic, and business conditions surrounding restricted international travel, and corresponding access to capital markets. During this term, BeMetals is required to conduct a preliminary economic assessment ("PEA"), completed by a mutually agreed third-party engineering firm. Over its term, this agreement requires issuance of 10,000,000 million shares of BMET stock to the Company by BeMetals, and cash payments to the Company of $1,350,000: $1,100,000 in cash and $250,000 in exchange for shares of the Company’s common stock. In the event that BeMetals decides not to proceed with the South Mountain Project, BeMetals will not be obligated to make any additional payments. See Note 3 for further information.
Basis of Presentation and Going Concern
These unaudited interim consolidated financial statements have been prepared by the management of the Company in accordance with accounting principles generally accepted in the United States of America for interim financial information. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles for complete consolidated financial statements. In the opinion of the Company’s management, all adjustments (consisting of only normal recurring accruals) considered necessary for a fair presentation of the interim consolidated financial statements have been included.
The accompanying 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, under the BeMetals Option Agreement (Note 3), the Company now has a recurring source of revenue, and its ability to continue as a going concern is no longer dependent on equity capital raises and borrowings. However, if necessary, the Company continues to have the ability to raise additional capital to fund its future exploration and working capital requirements. The Company’s plans for the long-term continuation as a going concern include operating on the cash flows and consideration payments provided under the BeMetals Option Agreement.
Recent Accounting Pronouncements
Accounting Standards Updates Adopted
In December 2019, the FASB issuedASU No. 2019-12 Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The update contains a number of provisions intended to simplify the accounting for income taxes. Adoption of this update on January 1, 2021 had no impact on the Company’s consolidated financial statements.
[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. We do not include the impact of any potentially dilutive common stock equivalents in our basic earnings (loss) per share calculations. Diluted earnings per share reflect potentially dilutive common stock equivalents, including options and warrants that could share in our earnings through the conversion of common shares, except where their inclusion would be anti-dilutive. Outstanding common stock equivalents consisting of 5,705,000 outstanding stock options for the three-month and six month periods ended June 30, 2021 were included in the calculating diluted weighted average shares outstanding. Diluted common shares outstanding were calculated using the treasury stock method and are as follows: Three months ended June 30, 2021 Six months ended June 30, 2021 Basic weighted average number of common shares60,145,57960,145,579Dilutive common stock equivalents: Stock options2,087,8202,327,045Diluted weighted average number of common shares 62,233,39962,472,624 For the six and three months ended June 30, 2020, stock options of 5,705,000 are excluded from the calculation of diluted income per share as the options’ exercise prices were not lower than the average share price during the period.]()
2. Mineral Interest Commitments
On February 27, 2019, the Company entered into an Option Agreement, (the “BeMetals Option Agreement”) with BeMetals Corp., a British Columbia corporation (“BeMetals”), and BeMetals USA Corp., a Delaware corporation (“BMET USA”), a wholly owned subsidiary of BeMetals.Under the terms of the BeMetals Option Agreement, BMET USA will be entitled to purchase 100% of the issued and outstanding shares of SMMI from TMRI, both wholly owned subsidiaries of the Company. SMMI is the Company’s subsidiary that holds the Company’s investment in the South Mountain project mineral interest. The original term of the agreement is for two years with BeMetals completing a preliminary economic assessment ("PEA") completed by a mutually agreed third-party engineering firm. On May 18, 2020, by three months from the existing BeMetals Option Agreement date, due to the COVID-19 pandemic, and business conditions surrounding restricted international travel, and corresponding access to capital markets.
Pursuant to theBeMetals Option Agreement, BMET USA will be entitled to purchase 100% of the outstanding shares of SMMI from TMRI if the following obligations are satisfied:
Concurrent with the BeMetals Option Agreement,BMET USA and SMMI entered a management contract whereby BeMetals will pay $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 $150,000 was recognized for the six months ended June 30, 2021 and 2020, respectively. Management Service income for the three months ended June 30, 2021 was $75,000, and $75,000 for the same respective time frame ending in 2020.
4. Investment in Equity Security
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 when received.
On May 4, 2021 the Company sold 2,000,000 shares held in BeMetals Corp. for US $649,557 ($CAD 800,000). The shares of common stock were sold throughCanaccord Genuity at a price of US $0.325 ($CAD 0.40). This sale meets the requirements under the terms of the BeMetals Option Agreement.
The Company’s property and equipment are as follows:
At June 30, 2021 the Company had a notes payable balances of $66,768 due to Eric Jones. Eric Jones is the Company’s President and Chief Executive Officer. Mr Jones received no payments during the three and six months ended June 30, 2021. The note, as amended, stop accruing monthly interest on January 1, 2021, and payment is due on December 31, 2021. Eric Jones had accrued interest payable at both June 30, 2021 and December 31, 2020 of $47,697.
James Collord, the Company’s Vice President and Chief Operating Officerwas paid $40,000 paying off the note payable balance of $39,808 for the three and six months ended March 31, 2021 as well as $192 of accrued interest for the six months ended June 30, 2021. The note, as amended, stop accruing monthly interest on January 1, 2021, and payment is due on December 31, 2021. Accrued interest payable to James Collord on June 30, 2021 and December 31, 2020 was $40,834 and $40,642, respectively.
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, 2021 and December 31, 2020 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.
Accrued Related Party Liability
Management has advanced funds, and foregone accrued wages to the Company for operating expenses. The balance of these advances and wages at June 30, 2021 and December 31, 2020 was $35,331.This balance is included in accounts payable and other accrued liabilities on the Consolidated Balance Sheets.
[The Company has a Stock Incentive Plan (the “SIP”) 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 March 30, 2020, the Company granted 1,630,000 stock options to officers and directors of the Company. The fair value of the options was determined to be $152,580 using the Black Scholes model. The options are exercisable on or before March 29, 2025 and have an exercise price of $0.099. The options were fully vested upon grant and the entire fair value was recognized as compensation expense during the quarter ended March 31, 2020. The fair value of each option award was estimated on the date of the grant using the assumptions noted in the following table: March 30, 2020Stock price$0.095Exercise price$0.099Expected volatility218.6%Expected dividends-Expected terms (in years)5.0Risk-free rate0.39% No stock options were granted for the quarter ended June 30, 2021. The following is a summary of the Company’s options issued and outstanding under the SIP: Shares Weighted Average Exercise PriceOutstanding and exercisable at December 31, 20195,035,000 0.09Granted1,630,000 0.099Expired(960,000) (0.06)Outstanding and exercisable at December 31, 20205,705,000 $0.10Granted- -Expired- -Outstanding and exercisable at June 30, 20215,705,000 $0.10]()
On July 19, 2021, management and Board members exercised stock options representing710,000 of common stock, 354,648 was in exchange for advanced funds, accounts payables, and accrued interest payable for a nonmonetary value of $35,465. Additional stock options of 355,352 of common stock were exercised for cash amount of $35,535.
Item 2. Management's Discussion and Analysis or Plan of Operation
The effects of the continued outbreak of COVID-19 and related government responses could have disruptions to the Company`s Option Agreement with BeMetals Corp. Under the terms of the BeMetals Option Agreement, BMET USA will be entitled to purchase 100% of the issued and outstanding shares of South Mountain Mines, Inc. (“SMMI”) from the Company. The term of the agreement is for two years starting June 10, 2019, with an option to extend an additional year, with BeMetals conducting a preliminary economic assessment ("PEA") completed by a mutually agreed third-party engineering firm. Over its term, this agreement requires cash payments to the Company of $1,350,000; $1,100,000 in cash and $250,000 in exchange for shares of the Company’s common stock. In the event that BeMetals decides not to proceed with the South Mountain Project, BeMetals will not be obligated to make any additional payments. The COVID-19 outbreak could have a variety of adverse impacts to the Company, including their ability to continue operations of their exploration under theBeMetals Operation Agreement. Thunder Mountain Gold evaluated these impairment considerations and determined that no such impairments occurred as of June 30, 2021.
Table 3: Drill Hole Azimuth, Dip, End of hole length and Collar Coordinates Hole ID Azimuth Degree Dip Degree End of hole Length (ft) East (ft.) North (ft.) **Elev. (ft.)**SM20-028901524623117643936456866.77SM20-029126-1232523117643936456866.77SM20-03095-3012523117643936456866.77SM20-031110-1417923117643936456866.77SM20-032105-6414423117643936456866.77SM20-033115-3020523117643936456866.77SM20-034801521723117643936456866.77SM20-035105147823117643936456866.77SM20-036105-1426923117643936456866.77SM20-037100-1422523117643936456866.77SM20-038110-3018523117643936456866.77SM20-039122-835023117643936456866.77SM20-040105-2920023117643936456866.77 22 SM20-041110-4018523117643936456866.77SM20-04287-6220423117643936456866.77SM20-043124-2039923117643936456866.77SM20-044124-2015423117643936456866.77SM20-0450-5510823117643936456866.77SM20-046127-3730523117643936456866.77SM20-04760-8017323117643936456866.77SM20-048135-3627523117643936456866.77SM20-049155-6020523117643936456866.77SM20-050150-4227623117643936456866.77SM20-051170-4940423117603936436866.07 *The results pending for this drillhole. QUALITY ASSURANCE AND QUALITY CONTROL PROCEDURES The project employs a rigorous QC/QA program that includes blanks, duplicates and appropriate certified standard reference material. All samples are introduced into the sample stream prior to sample handling/crushing to monitor analytical accuracy and precision. The insertion rate for the combined QA/QC samples is 10 percent or more depending upon batch sizes. ALS Global completed the analytical work with the core samples processed at their preparation facility in Reno, Nevada, U.S.A. All analytical and assay procedures are conducted in the ALS facility in North Vancouver, BC. The samples are processed by the following methods as appropriate to determine the grades; Au-AA23-Au 30g fire assay with AA finish, ME-ICP61-33 element four acid digest with ICP-AES finish, ME-OG62-ore grade elements, four acid with ICP-AES finish, Pb-OG62-ore grade Pb, four acid with ICP-AES finish, Zn-OG62-ore grade Zn, four acid digest with ICP-AES finish, Ag-GRA21-Ag 30g fire assay with gravimetric finish.South Mountain is a polymetallic development project focused on high-grade zinc and silver. It is located approximately 70 miles southwest of Boise, Idaho (see Figure 2). 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 at the Project has largely come from high-grade massive sulfide bodies 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. Thunder Mountain Gold Inc. purchased and advanced the Project from 2007 through 2019 investing approximately US$12M during that period. The current mineral resource estimate of the deposit is detailed in Table 3 below and the Company expects to provide a revised mineral resource update following a phase 2 drilling program in 2020.
The Project is largely on and surrounded by private surface land, and as such, the permitting and environmental aspects of the Project are expected to be straightforward. Permits are currently in place for underground exploration activities.
Figure 2. Location of South Mountain Project
[South Mountain Mine History The limited historic production peaked during World War II when, based on smelter receipts, the production of direct shipped ore totaled as follows: MetalGrade Total MetalZinc14.5%15,593,100 lbs (7,072,900 Kg)Silver10.6 opt (363.4 g/t) 566,440 ozs (17,618,200 grams)Gold0.058 opt (1.99 g/t) 3,120 ozs (96,980 grams)Copper1.4% 1,485,200 lbs (6,320 Kg)Lead2.4%2,562,300 lbs (1,162,250 Kg) Anaconda Smelter – Toole Utah - Crude Ore Shipment Head Grades 1941-1953 Total Tons: 53,653 (48,670 tonnes) In addition to the direct-ship ore, a flotation mill was constructed and operated during the late-1940s and early-1950s. From the 1954 South Mountain Mill report, recoveries were reported as follows: 1954 South Mountain Mill Report Metal Head Grades RecoveryZinc6.7%80%Silver17.5 opt (600 g/t)85%Gold0.02 opt (0.7 g/t)75%Copper3.2%90%Lead1%90% These are historic grades and recoveries not confirmed by the Company, but reportedly mined from a small 39,600-ton (35,900 tonnes) copper rich block in the Texas zone. South Mountain Mines Inc. (an Idaho Corporation) owned the patented claims from 1975 to the time the Company purchased the entity in 2007. They conducted extensive exploration work including extending the Sonneman Level by approximately 1,500 feet to intercept the down-dip extension of the Texas sulfide mineralization mined on the Laxey Level approximately 400 feet up-dip from the Sonneman. High grade sulfide mineralization was intercepted and confirmed on the Sonneman Extension. In 1985 South Mountain Mines Inc. completed a feasibility study based on historic and newly developed ore zones exposed in their underground workings and drilling. Although they determined positive economics, and that the resource was still open at depth with a large upside potential, the project was idled and placed into care and maintenance. 24 In 2008, the Company contracted Kleinfelder, Inc., a nationwide engineering and consulting firm, to complete a technical report “Resources Data Evaluation, South Mountain Property, South Mountain Mining District, Owyhee County, Idaho”. The technical report was commissioned by Thunder Mountain Resources, Inc. to evaluate all the existing data available on the South Mountain property. Kleinfelder utilized a panel modeling method using this data to determine potential mineralized material remaining and to make a comparison with the resource determined by South Mountain Mines in the mid-1980s. Kleinfelder’s calculations provided a potential resource that is consistent with South Mountain Mines’ (Bowes 1985) historic reserve model. In 2009, the Company contracted a third-party consulting firm that incorporated all the new drill and sampling data into an NI 43-101 Technical Report. This report was completed as part of the Company’s dual listing on the TSX Venture Exchange in 2010. The Company is also traded in the U.S. on the OTCQB under ticker THMG. In January of 2018, the Company engaged Hard Rock Consulting LLC (HRC) from Denver, Colorado to update the South Mountain Project 43-101. HRC concluded that significant potential exists to increase the known mineral resource with additional drilling, as well as to upgrade existing mineral resource classifications with additional infill drilling. HRC also determined that the conceptual geologic model is sound, and, in conjunction with drilling results, indicates that mineralization is essentially open in all directions, and is continuous between underground levels and extends to the surface. Hard Rock Consulting also noted that: ·THMG technical staff has thorough understanding of the geology of the South Mountain Project, and that the appropriate deposit model is being applied for exploration. ·Because the Project is largely located on and surrounded by private land, it greatly simplifies Project approvals compared to mining projects involving public lands. ·Initial metallurgical testing demonstrates that the South Mountain massive sulfide mineralization is amenable to differential flotation and concentration. ·The current mineral resource at the South Mountain Project is more than sufficient to warrant continued planning and development to further advance the Project. Gold Breccia HRC also reviewed the data on the anomalous gold-bearing multi-lithic breccia that was identified by THMG conducting reconnaissance work at South Mountain. In 2010, five holes were drilled in the anomaly for a total footage of 3,530 feet, and 705 total samples taken every five feet of drill hole. Of the 705 samples taken, 686 samples contained anomalous gold, or 97% of the samples. The highest-grade intercept ran 0.038 ounce per ton. HRC reviewed the reports done on the breccia completed by both Kinross and Newmont; of note was Newmont’s comparison of the geology to the Battle Mountain Complex in Nevada. The Technical Report was authored by Ms. J.J. Brown, P.G., SME-RM, Mr. Jeffrey Choquette, P.E., and Mr. Randy Martin, SME-RM, all of Hard Rock Consulting, each of whom is an independent qualified person for the purposes of NI 43-101 The NI 43-101 Technical Report has an effective date of April 7, 2018 and has been filed in Canada on SEDAR in accordance with NI 43-101. The Report can be reviewed on the Companys website at www.thundermountaingold.com. **Note to United States investors concerning estimates of measured, indicated and inferred resources.** Disclosure of the NI-43-101 has been prepared in accordance with the requirements of Canadian securities laws, including Canadian National Instrument 43-101 (“NI 43-101”), which differ from the current requirements of the U.S. Securities and Exchange Commission (“SEC”) set out in Industry Guide 7. The Highlights of South Mountain NI-43-101 section refers to “mineral resources,” “measured mineral resources,” “indicated mineral resources,” and “inferred mineral resources.” While these categories of mineralization are recognized and required by Canadian securities laws, 25 they are not recognized by Industry Guide 7 and are not normally permitted to be disclosed in SEC filings. United States investors are cautioned not to assume that all or any of measured, indicated or inferred mineral resources will ever be converted into mineral reserves. Under Industry Guide 7, mineralization may not be classified as a “reserve” unless the mineralization can be economically or legally extracted at the time the “reserve” determination is made. "Inferred mineral resources" have a great amount of uncertainty as to their existence and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian reporting standards; however, Industry Guide 7 normally only permits issuers to report mineralization that does not constitute "reserves" by Industry Guide 7 standards as in-place tonnage and grade without reference to unit measures. Accordingly, information contained in this 10-K containing descriptions of South Mountain’s mineral deposits may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements of Industry Guide 7. **Phase I Drilling at South Mountain under BeMetals Option Agreement** The principal objectives of the Phase 1 work plan at South Mountain was testing the extensions of the mineralized zones and confirmation of the grade distribution of the current polymetallic mineral resource estimate. The Company successfully completed the phase 1 program comprised of 20 underground drill holes for a total of approximately 2,290 meters. Geological logging and sampling of all drill holes have now been completed with all analytical results received. These results have been compiled into the Project’s geological database and were used to design the phase 2 drilling program for 2020. Following the phase 2 drilling program, all new results will be integrated into an updated mineral resource estimation for the Project, expected to be completed towards the end of 2021. **Table 1. BeMetals Analytical and Assay Results for the Phase 1 Drilling Program** Drill Hole ID, Zone & Interval From (m) To (m) Core Interval (m) Zn % Ag g/t Au g/t Pb % Cu % DMEA Zone SM19-002 Interval 146.8857.3910.51 17.81 226 2.41 1.59 0.16 Interval 267.8571.633.78 5.45 145 8.39 0.58 0.15 Interval 385.8396.3910.56 11.42 123 4.43 0.36 0.52 SM19-003 Interval 151.1875.3524.17 11.12 267 3.44 3.75 0.29 Including 51.18 60.789.60 11.74 437 5.99 8.68 0.38 Including 62.09 75.3513.26 11.77 169 1.88 0.54 0.25 Interval 277.6081.243.64 9.74 331 1.94 1.11 0.34 SM19-00575.1386.3711.23 7.97 128 1.20 0.91 0.24 SM19-00628.0143.7115.70 21.27 147 8.04 0.77 0.30 SM19-00726.9739.1712.20 18.16 122.6 4.41 1.55 0.16 SM19-014 Interval 1 105.31120.4015.09 9.59 127.1 1.50 0.69 0.28 Interval 2138.07143.885.81 4.88 76.9 2.55 0.21 0.12 Interval 3155.17158.953.78 14.49 145.5 0.37 0.25 0.48 Interval 4184.40189.565.15 0.28 79.9 2.08 0.15 0.06 Interval 5250.65258.948.29 8.11 178.7 0.48 0.57 1.73 26 Interval 6266.33268.161.83 1.32 158.9 2.56 0.56 0.11 Texas Zone SM19-010 Interval 124.4131.627.21 4.37 155.2 0.13 0.03 2.07 Interval 253.1163.1510.04 0.40 135.1 0.07 0.01 1.75 * Note: 1.00 meter (m) is equal to 3.28 feet (ft). One gram per tonne (g/t) is equal to 0.032 ounces per ton (oz/t, or o.p.t.) Table 2 below shows the latest results received from holes SM19-016, SM19-017 and SM19-018. Table 2. Drill Holes SM19-016, SM19-017 and SM19-018: Analytical and Assay Results Drill Hole ID: Zone & Interval From (m) To (m) Core Interval (m) Zn % Ag g/t Au g/t Pb % Cu % DMEA Zone SM19-016 Interval 1112.33132.0519.72† 0.07 8.39 1.52 0.01 0.002 Interval 2136.55146.6410.09 3.15 151.3 1.68 0.66 0.22 Interval 3158.27163.595.32† 0.59 46.8 1.81 0.11 0.04 Interval 4184.18188.644.47† 5.04 482.0 4.27 5.80 0.43 Interval 5227.32230.833.51 8.85 136.2 0.17 1.25 1.67 MB4 Target Zone SM19-017 Interval 11.375.233.86* 12.90 314.1 0.26 0.88 1.08 Interval 216.3224.087.76* 10.23 91.4 0.07 0.36 0.55 SM19-018 Interval 10.0018.6218.62* 5.15 73.2 0.11 0.02 0.41 Including 8.53 18.6210.09* 8.06 97.0 0.15 0.02 0.68 Note: Reported widths in tables 1 & 2 are drilled core lengths as true widths are unknown at this time. It is estimated based upon current data that true widths might range between 60-80% of the drilled intersection. For drill holes SM19-017* and SM19-018* true widths are unknown as these are the first drill intersections of the MD4 target. Intervals cut offs are based upon visual contacts of massive sulfide units with no more than 1.75 meters of internal skarn. For SM19-010 a nominal 0.5% copper cut off has been applied to determine the boundaries of the intersections for this skarn hosted mineralization with no more than 1.4m of internal dilution. For SM19-016† (intervals 1, 3 and 4) a nominal 0.46 g/t gold cut off has been applied to determine the boundaries of the intersections with no internal dilution. For SM19-017 & 018 a nominal 2.4% zinc cut off has been applied to determine the boundaries of the intersections for this skarn hosted mineralization with no more than 2m of internal dilution. (Note: See details below in QA/QC section). 1.00 meter (m) is equal to 3.28 feet (ft). One gram per tonne (g/t) is equal to 0.032 ounces per ton (oz/t, or o.p.t.). The above drill holes returned significant intersections of both massive sulfide and skarn styles of mineralization. Important sulfide minerals are pyrrhotite, sphalerite, galena, arsenopyrite and chalcopyrite. During the planned phase 3 campaign at South Mountain, the Company will carry out mineralogy and metallurgical test work studies to confirm historical other previous high-grade results, which will be included in the PEA. 27 
Figure 1: 3D Perspective View inclined at 20 degrees looking north-north-east, showing locations of rib-sampling, priority target zones, and the phase 1 drill holes and highlighted the recent SM19-016, SM19-017 and SM19-018 Underground core drilling is being conducted to extend and upgrade the South Mountain resource - testing the continuity and down-dip extensions of the high-grade polymetallic massive sulfide zones. The Company plans additional core drilling in the DMEA and Laxey zones to complete the confirmation and extensional drilling. In addition, there are plans to retrieve bulk samples for metallurgical test work. More than 15,000 feet (4,500 meters) have been drilled at South Mountain and included in the model. The South Mountain historic ore zones remain open down-dip on the zones encountered. The successful drilling and development work prove that the South Mountain resource continues to grow with potential to increase the resource substantially. 28 
Figure 2: Plan View of the Sonneman & Laxey Levels, South Mountain Deposit, showing locations of rib-sampling, priority target zones, and drill holes SM19-016, SM19-017 and SM19-018 29 
Figure 3: Plan View of Sonneman & Laxey Levels, showing locations of previously reported rib sampling Underground Pre-Development Work Completed in 2012 thru 2014 The reconstruction of the Sonneman and Laxey drifts continued successfully until January 2014 when the Project went into care and maintenance. The Sonneman Level advanced 2,711 feet from the portal and is constructed to 12 feet by 12 feet for future development and mining. Approximately 350 feet of drift remains to be rehabilitated to reach the historic Texas massive sulfide zone located at the end of the old workings. This advance through this zone will allow for the drill stations and underground drilling to further define the high-grade resource encountered by William Bowes group in the 1980s. The historic 2,200-foot-long Laxey Level drift has been rehabilitated to 10 feet by 10 feet for approximately 720 feet. At that point the old tunnel had recently collapsed at an intrusive dike and preparations were being made to advance through the caved area. This old tunnel was rehabilitated and accessed along its full length in 2008, at which point it intercepted the Texas massive sulfide zone, one of many that had limited mining during and after the World War II period. Excellent high-grade massive sulfide is exposed in this area, and the core drilling during 2013 proved its continuity between the Laxey Level and the surface, an up-dip distance of nearly 400 feet. During the development of the Sonneman Level during 2012-2013 several massive sulfide mineralized zones were mined through. Detailed rib sampling along some of these zones yielded the following results: 30 Highlights from 2013-2014 Rib-Sampling Program • DMEA Zones 1/2/3; 130 ft. (39.62m) @ 16.76% Zinc (“Zn”), 4.11 ounces per ton (“o.p.t.”) (140.91 grams per tonne (“g/t”)) Silver (“Ag”), 0.089 o.p.t. (3.08 g/t Gold) (“Au”), 0.78% Copper (“Cu”) and 0.38% Lead (“Pb”) • Muck Bay #4 Zone; 23 ft. (7.01m) @ 14.69% Zn, 7.18 o.p.t. (246.17 g/t) Ag, 0.34% Cu and 0.65% Pb • Laxey Zone; 40 ft. (12.19m) @ 16.44% Zn, 13.97 o.p.t. (478.97 g/t) Ag, 0.020 o.p.t. (0.68 g/t) Au, 0.70% Cu and 0.86% Pb (Results previously reported in the Companys annual / quarterly reports; news releases; and the May 2019 independent technical report titled, “National Instrument 43-101 Technical Report Updated Mineral Resource Estimate for the South Mountain Project Owyhee County, Idaho, USA.” 1.00 meter (m) is equal to 3.28 feet (ft). One gram per tonne (g/t) is equal to 0.032 ounces per ton (oz/t, or o.p.t.). **Qualified Person** – The technical information in this Form 10Q has been reviewed and approved by Larry D. Kornze, Retired, P. Eng., Qualified Person, and Director of Thunder Mountain Gold Inc., and a “Qualified Person” as defined by National Instrument 43-101 standards. This property is without known reserves and the proposed program is exploratory in nature according to Instruction 3 to paragraph (b)(5) of the SECs Industry Guide 7. There are currently no permits required for conducting exploration in accordance with the Companys current board approved exploration plan. **Trout Creek Project, Lander County, Nevada** The Trout Creek project is a highly prospective gold exploration target located along the western flank of the Shoshone Mountain Range in the Reese River Valley in Lander County, Nevada. The claim package consists of 78 unpatented mining claims (approximately 1560 acres) that are situated along a recognizable structural zone in the Eureka-Battle Mountain mineralized gold trend. Because the project is surrounded by Newmont Minings land package, Thunder Mountain struck a joint venture agreement with Newmont Mining on some of their adjoining mineral rights sections and aliquot parcels from 2011 thru 2016. On October 27, 2016 the Company terminated the exploration agreement with Newmont Mining Corporation to concentrate their efforts on the South Mountain Project. The Company retained the 78-claim package by paying annual fees to BLM of $12,090 and Lander County $940 fees. The Project is located approximately 155 air miles northeast of Reno, Nevada, or approximately 20 miles south of Battle Mountain, Nevada, in Sections 10, 11, 14, 16, 21, 22, 27; T.29N.; R.44E. Mount Diablo Baseline & Meridian, Lander County, Nevada. Latitude: 40 23’ 36” North, Longitude: 117 00’ 58” West. The property is generally accessible year-round by traveling south from Battle Mountain Nevada on state highway 305, which is paved. The Trout Creek target is anchored by a regional gravity anomaly on a well-defined northwest-southeast trending break in the alluvial fill thickness and underlying bedrock. Previous geophysical work in the 1980s revealed an airborne magnetic anomaly associated with the same structure, and this was further verified and outlined in 2008 by Company personnel, with consultation from Jim Wright – Wright Geophysics using a ground magnetometer. The target is covered by alluvial fan deposits of generally unknown thickness, shed from the adjacent Shoshone Range, a fault block mountain range composed of Paleozoic sediments of both upper and lower plate rocks of the Roberts Mountains thrust. An extensive data package on the area was made available to Thunder Mountain Gold by Newmont during the joint exploration agreement period (2011-2016) that significantly enhanced the target area. This, along with fieldwork consisting of mapping and sampling the altered and mineralized structures that can be followed through the Shoshone Range. Of importance is that these structures align with the Cortez-Pipeline deposits and the Phoenix deposit (part of the Eureka-Battle Mountain-Getchell Trend). In addition to the geologic fieldwork, Wright Geophysics conducted a ground gravity survey and CSMAT over the pediment target area and this provided insight into the gravel-bedrock contact as well as defining the favorable structural setting within the buried bedrock. An untested drill target was identified under the gravel pediment along 31 these structures, and the geophysics showed that the bedrock was within 500 feet of the surface, which is reasonable depth for exploration drilling and potential mining if a significant mineralization is encountered. The Company does not plan to conduct any work on the Trout Creek Property in 2021 because of it`s focus on completing the NI 43-101 PEA at their South Mountain Project. There are currently no environmental permits required for the planned exploration work on the property. In the future, a notice of intent may be required with the Bureau of Land Management. This property is without known reserves and the proposed program is exploratory in nature according to Instruction 3 to paragraph (b)(5) of the SEC’s Industry Guide 7. Competition We are an exploration stage company. We compete with other mineral resource exploration and development companies for financing and for the acquisition of new mineral properties. Many of the mineral resource exploration and development companies with whom we compete have greater financial and technical resources than us. Accordingly, these competitors may be able to spend greater amounts on acquisitions of mineral properties of merit, on exploration of their mineral properties and on development of their mineral properties. In addition, they may be able to afford greater geological expertise in the targeting and exploration of mineral properties. This competition could result in competitors having mineral properties of greater quality and interest to prospective investors who may finance additional exploration and development. This competition could adversely impact on our ability to finance further exploration and to achieve the financing necessary for us to develop our mineral properties. Employees The Company employs three full-time officers. As part of the BeMetals agreement, the Company allowed these officers to work on the South Mountain Project on a consulting arrangement with BeMetals. Results of Operations: For the three months ended June 30, 2021, the Company recorded a net income of $191,542, compared to net income of $1,350,934, for the same time ending June 30, 2021. Net Income for the six month period ended June 30, 2021 was $142,320 for the same period in 2020 the amount was $337,319. The decrease in net income for 2021 the decrease is primarily due to a reduction in the market value of equity consideration received in connection with the BeMetals transaction in connection with the BeMetals Option Agreement. (See South Mountain Project above) Three-month period comparisons]()
Total operating expenses for the three months ending June 30, 2021 of $148,176 increased from the same respective time period in 2020 by $27,256 or 6%. Exploration expenses for the three months ended June 30, 2021 decreased by $2,086 when compared to same period in 2020.Legal and accounting costs increased in three-month period ended June 30, 2021 compared to 2020 by $26,725 for a total of $32,697.The increase in legal and accounting costs is principally due cost associated with the BeMetals Lease Option Agreement. Management and administrative expense increased by $7,238 or 2%. There were no options issues in for the quarter ended June 30, 2021, respectively.
The Companyrecognized $150,000 in management services income and gain on mineral interest of $250,000 during the six-month period ended on June 30, 2021.Total operating expenses for the six months ending June 30, 2021 of $288,174 decreased from the same respective time period in 2020 by $131,911 or 31%. Exploration expenses for the six months ended June 30, 2021 decreased by $393 when compared to same period in 2020.Legal and accounting costs increased in the six-month period ended June 30, 2021 compared to 2020 by $20,076 for a total of $54,507.Management and administrative expense decreased by $142,730 or 39% principally due to stock compensation of $159,740 for stock options issued to our officers and directors on March 30, 2020. There were no options issues in for the period ended June 30, 2021.
On May 17, 2021 the Company received US $649,557. The shares of 2,000,000 common stock were sold in an arranged transaction through Canaccord Genuity at a price of US $0.325 ($CAD 0.40). Currently, there remains8,000,000 of BeMetals common stock shares being held at Canaccord Genuity in connection with the BeMetals Option Agreement. (See South Mountain Project above), This sale meets the requirements under the terms of the BeMetals Option Agreement.
·Management is committed to manage expenses of all types to not exceed the on-hand cash resources of the Company at any point in time, now or in the future.
[·The Company will also consider other sources of funding, including potential mergers, the sale of all or part of the Company`s BeMetals Corp. (TSX-V: BMET) common shares beneficially held, and/or additional farm-out of its other exploration property. For the six months ended June 30, 2021, the Company reports net cash used by operating activities of $103,504 compared to cash used by operating activities of $197,399 in 2020. During the six-month period ended June 30, 2021, the Company received $899,557 in cash from investing activities $250,000 from the sale of mineral interests for the Tranche 5, pursuant to the BeMetals Option Agreement, and $649,557 proceeds from sale of 2,000,000 shares of BeMetals common shares. During the period ended June 30, 2021, financing activities paid $39,808 towards related notes payables and applying $192 to the accrued interest for a total of $40,000. The Company reported a net cash increase of $756,245 for the period ended June 30, 2021 compared to a net cash decrease of $149,399 for same period in 2020. Our future liquidity and capital requirements will depend on many factors, including timing, cost and progress of our exploration efforts, our evaluation of, and decisions with respect to, our strategic alternatives, and costs associated with the regulatory approvals. If it turns out that we do not have enough cash to fund our operations, we will attempt to raise additional funds from a public offering, a private placement, mergers, farm-outs or loans. Additional financing may be required in the future to fund our planned operations. We do not know whether additional financing will be available when needed or on acceptable terms, if at all. If we are unable to raise additional financing when necessary, we may have to delay our exploration efforts or any property acquisitions or be forced to cease operations. Collaborative arrangements may require us to relinquish our rights to certain of our mining claims. Contractual Obligations During 2008 and 2009, three lease arrangements were made with landowners that own land parcels adjacent to the Company’s South Mountain patented and unpatented mining claims. The leases were for a seven-year period, with options to renew, with annual payments (based on $20 per acre) listed in the following table. The leases have no work requirements. Contractual obligationsPayments due by period Total* Less than 1 year 2-3 years 4-5 years More than 5 yearsAcree Lease (yearly, June)(1)$10,170$3,390$6,780-$ -Lowry Lease (yearly, October)(1)(2)$33,840$11,280$22,560-$ -OGT LLC^(3)^$25,000$5,000$10,000$10,000$ - Total$69,010 $19,670$39,340$10,000$ - (1)Amounts shown are for the lease periods years 12 through 16, a total of 4 years that remains after 2019. Lease was extended an additional 10 years at $30/acre after 2014. (2)The Lowry lease has an early buy-out provision for 50% of the remaining amounts owed in the event the Company desires to drop the lease prior to the end of the first seven-year period. (3) OGT LLC, managed by the Company’s wholly owned subsidiary SMMI, receives a $5,000 per year payment for up to 10 years, or until a $5 million capped NPI Royalty is paid. Critical Accounting Policies We have identified our critical accounting policies, the application of which may materially affect the financial statements, either because of the significance of the financials statement item to which they relate, or because they require management’s judgment in making estimates and assumptions in measuring, at a specific point in time, events 34 which will be settled in the future. The critical accounting policies, judgments and estimates which management believes have the most significant effect on the financial statements are set forth below: a)Estimates. Our management routinely makes judgments and estimates about the effect of matters that are inherently uncertain. As the number of variables and assumptions affecting the future resolution of the uncertainties increase, these judgments become even more subjective and complex. Although we believe that our estimates and assumptions are reasonable, actual results may differ significantly from these estimates. Changes in estimates and assumptions based upon actual results may have a material impact on our results of operation and/or financial condition. b)Stock-based Compensation. The Company records stock-based compensation in accordance with ASC 718, “Compensation – Stock Compensation” using the fair value method. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. c)Income Taxes. We have current income tax assets recorded in our financial statements that are based on our estimates relating to federal and state income tax benefits. Our judgments regarding federal and state income tax rates, items that may or may not be deductible for income tax purposes and income tax regulations themselves are critical to the Company’s financial statement income tax items. d)Investments. In a joint venture where the Company holds more than 50% of the voting interest and has significant influence, the joint venture is consolidated with the presentation of non-controlling interest. In determining whether significant influences exist, the Company considers its participation in policy-making decisions and its representation on the venture’s management committee.]()
Item 3. Quantitative and Qualitative Disclosures about Market Risk
Not required for smaller reporting companies.
Item 4. Controls and Procedures
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Item 3. Defaults Upon Senior Securities.
Item 4. Mine Safety Disclosures
[(a) Documents which are filed as a part of this report: Exhibits: 31.1Certification Required by Rule 13a-14(a) or Rule 15d-14(a). Jones31.2Certification Required by Rule 13a-14(a) or Rule 15d-14(a). Thackery32.1Certification required by Rule 13a-14(a) or Rule 15d-14(b) and section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350. Jones32.2Certification required by Rule 13a-14(a) or Rule 15d-14(b) and section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350. Thackery101.INS*XBRL Instance Document101.SCH*XBRL Taxonomy Extension Schema Document101.CAL*XBRL Taxonomy Extension Calculation Linkbase Document101.DEF*XBRL Taxonomy Extension Definition Linkbase Document101.LAB*XBRL Taxonomy Extension Label Linkbase Document101.PRE*XBRL Taxonomy Extension Presentation Linkbase Document 37]()