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 (IDR) operates as a vertically integrated mining company focused on gold production and rare earth elements exploration in Idaho. This page serves as the definitive source for official press releases and curated news about operational developments, exploration milestones, and strategic initiatives.
Investors and industry observers will find timely updates on the Golden Chest Mine's production metrics, progress at critical mineral projects like Lemhi Pass and Diamond Creek, and innovations in mining efficiency. The curated content enables stakeholders to track IDR's dual focus on maintaining gold output while advancing domestic rare earth element resources.
Key updates include quarterly production results, resource expansion announcements, technological advancements in vertical integration processes, and community engagement initiatives. All content is verified through primary sources to ensure accuracy and compliance with financial disclosure standards.
Bookmark this page for direct access to IDR's latest developments. Combine regular monitoring with review of historical announcements to identify operational trends and strategic priorities within Idaho's evolving mining landscape.
Idaho Strategic Resources (IDR) has reviewed its 2022 performance, highlighting key achievements including its up listing on the NYSE American and significant progress in rare earth elements projects. The company aims to reduce U.S. reliance on foreign minerals through various legislative efforts and partnerships. Notably, IDR recorded over $3 million in revenue for Q4 2022 and expanded its landholdings, now being the second largest REE landholder in the U.S. The management also proposed a business combination with Westwater Resources, advocating for stakeholder engagement.
Westwater Resources, Inc. (NYSE American: WWR) has received an unsolicited proposal from Idaho Strategic Resources (NYSE American: IDR) on December 15, 2022. IDR's proposal, disclosed on December 22, lacked critical financial details and raised concerns regarding IDR's capability to fund its business plans. Westwater has determined that pursuing IDR's proposal is not in its best interest, citing IDR's insufficient resources and lack of expertise in graphite production. Westwater is committed to the construction and commissioning of its Kellyton Plant, estimated at $202 million.
Idaho Strategic Resources (IDR) announced on December 15, 2022, that it submitted a non-binding proposal to acquire Westwater Resources (WWR), offering 0.2353 IDR shares for each WWR share, valuing WWR at $1.36, a 73% premium over its market price. This proposal was declined on December 19, 2022. Despite this, IDR emphasizes the potential for managerial synergies and a stronger market position in critical minerals. The combined entity would feature significant cash reserves and valuable assets in rare earth and thorium resources, underscoring IDR's commitment to enhancing shareholder value.
Idaho Strategic Resources (IDR) announced an increase in its land holdings within the Idaho Rare Earth Element-Thorium Belt to over 11,000 acres, making it the 2nd largest REE land-holding Company in the U.S. Notable expansions include the Lemhi Pass property, which grew to approximately 7,600 acres, and the Roberts Project, increasing from 1,050 acres to 2,800 acres. The company aims to reduce dependence on foreign REE sources through these expansions, marking significant potential for domestic REE production.
Idaho Strategic Resources (NYSE American:IDR) released a President's Letter to stakeholders detailing the company's strategic position amid U.S. decarbonization efforts. The letter emphasizes the company's role in domestic mining and the importance of rare earth elements and gold operations. It highlights a $2.8 billion funding opportunity from the Inflation Reduction Act to boost battery mineral processing. IDR controls three of the top ten domestic rare earth properties, positioning itself for future growth in domestic mining.
Idaho Strategic Resources (IDR) announced its Q3 2022 financial results, highlighting an operating loss of $1.89 million and a net loss of $1.91 million. Revenue decreased to $1.75 million due to lower gold prices, despite increased production year-to-date. The company commenced its first Rare Earth Element drill program and made significant investments in its tailings storage facility, enhancing future operational capacities. Project advancements are ongoing, with revenue projections for Q4 expected between $2.5-$2.7 million, contingent on gold prices and ore quality.
Idaho Strategic Resources (IDR) announced promising results from its latest drilling at the Paymaster site, specifically hole GC 22-224, which intercepted gold veins with 54.7 grams per tonne (gpt) over 0.32 meters and 27.0 gpt over 0.19 meters. The drilling aims to connect the Paymaster and Joe Dandy shoots at the 800-Level, potentially enhancing mining efficiency and reducing costs. The company is evaluating development opportunities for these shoots, which may increase overall gold production.
Idaho Strategic Resources, Inc. (IDR) recently completed its first-phase exploratory drilling at the Diamond Creek Rare Earth Elements Project, concluding 12 drillholes totaling 1,200 meters. After a two-month delay due to the Moose Fire, preliminary X-ray fluorescence results showed promising signs, with zones exceeding 3 meters in width and potential grades up to 2% total rare earth oxide. Notably, one hole intercepted 46 meters of REE mineralization. The company emphasized the importance of its local partnerships and pointed out the project's inclusion in the national inventory of Rare Earths by the USGS.
Idaho Strategic Resources (NYSE American:IDR) announced the discovery of new high-grade gold veins in the Klondike area at the Golden Chest Mine. A grab sample returned an assay of 1,300 grams per tonne (gpt), the highest ever recorded at the site. The exploration drifting revealed multiple visible gold occurrences, with significant grades in recent panel sampling, including 23.45 gpt over 9 meters. Additionally, drilling results showcased 13.62 gpt gold over 1.7 meters in the recent drill holes. These findings potentially enhance future production prospects.
Idaho Strategic Resources (NYSE American: IDR) has initiated exploratory core drilling in the Murray Gold Belt, targeting its significant land holdings near the Golden Chest Mine. The company owns over 1,500 acres and has encountered promising results from its initial drilling program, which included multiple drill holes revealing quartz veining and gold mineralization. Preliminary findings include up to 9.19 g/t gold over 0.6 m. IDR aims to leverage these discoveries for future production and expansion, emphasizing the area's potential for gold deposits.
