Welcome to our dedicated page for Idaho Strategic Resources news (Ticker: IDR), a resource for investors and traders seeking the latest updates and insights on Idaho Strategic Resources stock.
Idaho Strategic Resources, Inc. (NYSE American: IDR), formerly known as New Jersey Mining Company, is a vertically integrated, junior mining company based in Idaho. The company focuses on the production of gold and the exploration of rare earth elements (REE). Its flagship project is the Golden Chest Mine, from which it has achieved significant gold production milestones.
Besides gold production, Idaho Strategic Resources has established a strategic presence in the Critical Minerals sector, advancing key REE projects including Lemhi Pass, Diamond Creek, and the Roberts Rare Earth Element projects in central Idaho. These projects are poised to enhance the U.S. rare earth supply chain, particularly with the recent discovery of high-grade rare earth oxides (TREO) in the Mineral Hill District.
In 2023, Idaho Strategic Resources reported milestone achievements, including the discovery of a new pink carbonatite with 34.1% TREO at Upper Roberts, which is among the highest grades identified in the U.S. recently. The company's comprehensive exploration program in Mineral Hill led to the identification of multiple new carbonatite exposures and bulk sampling results indicating high-grade REE values.
Financially, Idaho Strategic Resources has transitioned to profitability, with a 41.9% revenue increase and a 32.7% rise in gold production over 2022. The company’s strategic initiatives include the purchase of the Butte Gulch property, enhancing its operational footprint, and investments in new equipment such as a paste backfill system for improved efficiency and cost savings.
Idaho Strategic Resources is actively involved in building collaborations and partnerships. Notably, it entered a non-binding memorandum of understanding with Radiant Industries to potentially deploy a meltdown-proof microreactor, Kaleidos, at one of its sites, aiming to replace diesel generators with sustainable power solutions.
CEO John Swallow's leadership has been instrumental in steering the company through significant growth, positioning Idaho Strategic Resources as a pivotal player in the critical minerals sector. The company is committed to responsible mining practices and contributing to local communities while advancing its exploration and production capabilities.
Idaho Strategic Resources (NYSE American: IDR) announced the successful exploration of the H-Vein at the Golden Chest Mine, intercepting a mineralized vein with promising gold assays of 32.1 grams per tonne (gpt) on the northern rib and 54.1 gpt on the southern rib. The H-Vein is located 60 meters west of the Idaho Vein, exhibiting visible gold and strong pyrite. Initial muck sampling yielded an average grade of 25.1 gpt over 24.8 meters. VP of Operations, Grant Brackebusch, expressed optimism regarding the high gold grades and the efficient mining potential. The exploration aims to further define the vein and may transform the resource classification. The company holds substantial land positions in both gold and rare earth elements, establishing a strategic footprint in the resource sector.
Idaho Strategic Resources (IDR) recently issued a President's Letter to Stakeholders, highlighting the challenges and opportunities in the current economic landscape. The letter emphasizes the importance of gold and rare earth elements (REE) in IDR's business strategy. The company is advancing its mining operations at the Golden Chest Mine, particularly focusing on the H-Vein and Jumbo Vein, with promising gold assay results of 152 g/t and 137 g/t, respectively. IDR closed Q1 2023 with over $3 million in revenue, indicating a position of strength amidst a complex market. Furthermore, IDR is the largest REE landholder in the U.S., with over 18,000 acres in the REE-Th Belt, supporting its long-term plans in the critical minerals sector. CEO John emphasizes the need for continuous evaluation in a changing environment, asserting that IDR's strategic assets are well-positioned for future demand.
Idaho Strategic Resources, Inc. (IDR) reported a successful year-end financial performance for 2022, marking a 25.5% revenue increase and a significant 218% growth in gross profit compared to 2021. The 4th quarter saw a turnaround with a net profit of $603,650, contrasting with a net loss of $1,219,518 in Q4 2021. Annual revenue from gold sales reached $9,580,189, up from $7,630,416 in 2021. The company's operational achievements include the successful exploration of rare earth elements, with land holdings totaling approximately 18,030 acres. CEO John Swallow expressed optimism about IDR's positioning for future growth amid evolving market conditions.
FAQ
What is the current stock price of Idaho Strategic Resources (IDR)?
What is the market cap of Idaho Strategic Resources (IDR)?
What is Idaho Strategic Resources, Inc. (IDR) known for?
What are the recent achievements of Idaho Strategic Resources?
What projects is Idaho Strategic Resources currently focused on?
How has Idaho Strategic Resources performed financially recently?
What is the significance of the recent property acquisition by Idaho Strategic Resources?
What collaborations has Idaho Strategic Resources entered into?
What is the impact of the company's exploration efforts in the Mineral Hill District?
Who leads Idaho Strategic Resources, Inc.?
What is Idaho Strategic Resources' approach to mining?
How can investors get more information about Idaho Strategic Resources?
