Idaho Strategic Resources, Inc.

Listed Company

IDRCIK 0001030192NYSENon-AcceleratedSmaller ReportingGold And Silver OresIdahoFY ends Dec 31

Period

FY 2025

Revenue

$42.41M

Net Income

$16.72M

Total Assets

$116.24M

Equity

$108.17M

Shares Out

15.81M

Op. Cash Flow

$19.10M

Business

Idaho Strategic Resources, Inc. produces gold and conducts mineral exploration with a strategic focus on rare earth elements in Idaho. Its primary activities include operating the producing Golden Chest Mine, milling and processing ore through the majority-owned New Jersey Mill, and exploring REE-Th and gold-bearing properties. Key business components comprise underground and surface gold mining operations, a flotation and processing mill, and REE projects such as Lemhi Pass, Diamond Creek, and Mineral Hill alongside early-stage exploration holdings. Operations and sales are concentrated in Idaho, with gold concentrate sold to third-party processors and doré sold to refineries.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue-gold sales	42	26	14	10	8
Cost of sales and other direct production costs	14	11	8	7	6
Depreciation and amortization	2	2	1	984,083	—
Total cost of sales	16	13	10	8	7
Gross profit	26	13	4	2	487,877
Exploration	8	3	2	2	1
Loss on disposal of equipment	343,945	1,431	−13,026	68,641	0
Management	945,579	407,715	255,579	322,775	518,011
Professional services	585,145	432,237	556,766	375,002	293,402
General and administrative	1	763,040	630,126	1	1
Total other operating expenses	11	5	3	4	4
Income from operations	16	8	1	−3	−3
Equity income on investment in Buckskin Gold and Silver, Inc.	−3,646	−2,667	−4,517	−1,524	—
(Gain) loss on investment in equity securities and mutual funds	−110,092	453	—	—	—
Timber revenue	−9,679	−19,406	−20,724	—	—
Dividend income	−50,881	0	—	—	—
Interest income	−1	−389,517	—	—	146
Interest expense	0	83,295	44,202	102,832	—
Total other (income) expense	−1	−327,842	−61,079	78,855	200,075
Income before income taxes	17	9	—	—	—
Income tax provision	426,146	0	—	—	—
Net income	17	9	1	−3	—
Net loss attributable to non-controlling interest	−84,476	−83,308	−84,297	−95,663	−100,192
Net income attributable to Idaho Strategic Resources, Inc.	17	9	1	−3	−3
Net income per common share-basic	1.15	0.68	0.09	—	—
Weighted average common shares outstanding-basic	14	13	12	12	10
Net income per common share-diluted	1.14	0.67	0.09	—	—
Weighted average common shares outstanding-diluted	15	13	12	12	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	10	1	2	2	—
Investment in US treasury notes	28	8	0	—	—
Investment in equity securities	4	0	5,649	0	435,000
Investment in mutual funds	4	0	—	—	—
Gold sales receivable	4	2	1	909,997	408,187
Inventories	965,112	899,924	876,681	618,313	213,722
Joint venture receivable	12,760	2,892	2,080	—	—
Other current assets	799,261	378,469	236,837	192,025	334,443
Total current assets	51	12	4	3	3
Property, plant and equipment, net of accumulated depreciation	20	13	10	10	8
Mineral properties, net of accumulated amortization	16	11	8	7	6
Investment in Buckskin Gold and Silver, Inc.	345,082	341,436	—	—	—
Investment in joint venture	435,000	435,000	—	—	—
Investment in US treasury notes, non-current	28	7	0	—	—
Reclamation bonds	355,220	249,110	251,310	—	—
Deposits	858,534	567,667	285,079	—	—
Total assets	116	44	24	21	18
Accounts payable and accrued expenses	2	1	484,221	579,541	647,218
Accrued payroll and related payroll expenses	409,212	564,090	266,670	179,149	174,110
Notes payable, current portion	1	709,381	978,246	859,393	666,622
Income taxes payable	334,446	0	—	—	—
Total current liabilities	4	2	2	2	1
Asset retirement obligations	325,451	305,409	286,648	262,217	172,348
Notes payable, long term	1	1	1	1	1
Deferred income tax liability	91,700	0	—	—	—
Total long term liabilities	2	1	2	2	3
Total liabilities	5	4	3	3	5
Commitments and Contingencies (Note 5 and 12)	0	0	0	0	0
Preferred stock, no par value, 1,000,000 shares authorized; no shares issued or outstanding	0	0	0	0	0
Common stock, no par value, 200,000,000 shares authorized; 15,705,199 and 13,665,058 shares issued and outstanding, respectively	100	46	35	33	26
Retained earnings (accumulated deficit)	8	−8	−17	−18	−16
Total Idaho Strategic Resources, Inc. stockholders' equity	108	38	18	15	10
Non-controlling interest	3	3	3	3	3
Total stockholders' equity	111	40	21	18	13
Total liabilities and stockholders' equity	116	44	24	21	18

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Accretion of asset retirement obligation	20,042	18,761	15,952	—	—
Unrealized (gain) on investment in equity securities and mutual funds	−110,092	0	—	—	—
Loss on investment in equity securities	0	453	5,451	—	—
Write down of reclamation bond	0	300	0	—	—
Stock-based compensation	2	0	0	547,275	1
Amortization of discount on US treasury notes	37,197	2,080	—	—	—
Deferred tax expense	91,700	0	—	—	—
Gold sales receivable	−2	−539,827	−128,870	−501,810	−143,408
Inventories	−65,188	−23,243	−258,368	−404,591	188,815
Joint venture receivable	−9,868	−812	−154	—	—
Other current assets	−420,792	−141,632	−44,812	142,418	−110,380
Accounts payable and accrued expenses	898,511	521,857	−95,320	−63,062	−33,894
Accrued payroll and related payroll expenses	−154,878	297,420	87,521	5,039	30,625
Income taxes payable	334,446	0	—	—	—
Net cash provided by operating activities	19	11	2	−2	−1
Purchases of property, plant, and equipment	−7	−2	−772,245	−1	−664,645
Proceeds from sale of equipment	66,155	6,372	8,500	0	—
Deposits on equipment	−945,786	−1	—	—	—
Additions to mineral properties	−5	−2	−1	−626,541	−2
Purchase of mineral property	−300,000	0	—	—	—
Purchase of reclamation bonds	−106,110	−5,000	0	−223,700	0
Refund of reclamation bonds	0	6,900	75,710	—	—
Purchase of US treasury notes	−52	−17	0	—	—
Maturity of US treasury notes	11	2	—	—	—
Proceeds from sale of investment in equity securities	0	5,196	0	—	—
Purchase of equity securities	−4	0	−11,100	—	—
Purchase of mutual funds	−4	0	—	—	—
Net cash used by investing activities	−61	−21	−2	−2	−3
Proceeds from sale of common stock, net of issuance costs	52	9	2	4	3
Proceeds from issuance of common stock for warrants exercised	0	2	0	1	117,500
Proceeds from issuance of common stock for stock options exercised	236,310	280,011	0	—	0
Principal payments on notes payable	−1	−2	−1	−862,503	−572,558
Contributions from non-controlling interest	28,733	28,760	30,962	—	—
Net cash provided by financing activities	51	9	647,194	4	4
Net change in cash and cash equivalents	9	−1	648,968	−338,487	−563,427
Deposit on equipment applied to purchase	654,919	895,597	76,110	—	—
Notes payable for equipment	3	1	1	1	1
Note payable for mineral property	0	650,000	—	—	—
Note payable assumed by 3rd party	792,779	0	—	—	—
Principal payments on notes payable paid by 3rd party	71,373	0	—	—	—

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