Idaho Strategic Resources, Inc. - IDR STOCK NEWS

Idaho Strategic Resources (IDR) announced the acquisition of the Lemhi Pass Thorium Project, recognized as the largest concentration of thorium resources in the U.S. The project, covering approximately 4,200 acres, enhances IDR's strategic positioning in the energy metals sector. The company's management believes this acquisition will bolster its rare earth element (REE) portfolio and result in a valuable opportunity amidst the current focus on low-carbon energy solutions. Additionally, the Lemhi Pass area features significant REE occurrences that could generate by-products in future production.

Idaho Strategic Resources (NYSE American: IDR) reported its Q1 2022 financial results, highlighting a revenue increase to $2,044,417 from $1,586,627 in Q1 2021. The company achieved a gross profit of $306,143 compared to a gross loss of $71,403 in the prior year. Significant operational milestones include the up-listing to the NYSE, extinguishing $2 million in convertible debt, and establishing a new underground production record. Despite these successes, IDR recorded a net loss of $473,069, though this is an improvement over last year's loss of $1,662,404.

Idaho Strategic Resources, Inc. (IDR) has announced the acquisition of the Lemhi Pass Rare Earth Element (REE) project in central Idaho, comprising 25 unpatented claims over 425 acres. This area is strategically significant due to its historical REE values and is recognized as a critical mineral district in the U.S. The company aims to leverage its minimal debt, focus on hard assets, and growing gold production. Additionally, IDR believes this acquisition will enhance its position in the domestic supply chain for critical minerals.

Idaho Strategic Resources (NYSE American:IDR) announces its CEO, John Swallow, was featured on the Planet MicroCap Due Diligence Podcast on May 2, 2022. During the interview, Swallow shared insights about the company's growth philosophy and its recent up-listing to the NYSE American. Idaho Strategic emphasizes a collaborative approach to business and the importance of local involvement in operations. The company is notably recognized for its rare earth element properties and gold production in Idaho's Coeur d'Alene Mining District. For more details, listen to the podcast on various platforms.

Idaho Strategic Resources, Inc. (NYSE American:IDR) will participate in the Idaho Mining, Critical Minerals, and Water Resources panel on April 19, 2022, during the symposium Challenges and Opportunities for Idaho Water Resources in Boise, Idaho. The Company emphasizes its We Live Here philosophy, promoting local resource stewardship. CEO John Swallow and VP Rob Morgan will share insights on critical minerals and local oversight. IDR operates in the Coeur d'Alene Mining District, focusing on gold production and rare earth elements, contributing to the U.S. domestic critical minerals sector.

Idaho Strategic Resources (IDR) announced high-grade gold intercepts from drill hole GC 22-212 in the Klondike Zone at the Golden Chest Mine. Key results include a sizable 9.2 m interval with an average of 8.77 g/t gold, particularly featuring 1.3 m at 37.35 g/t. The exploration supports a new zone of gold mineralization, potentially enhancing future production capabilities.

CEO John Swallow noted the significance of these results for further understanding the mine's geology. The company plans to optimize a mining strategy as it re-establishes utilities at the North Portal.

Idaho Strategic Resources, Inc. (NYSE American:IDR) reported a 34% increase in revenue to $7,630,416 for the year ending December 31, 2021, driven by higher gold grades and tonnes processed. The gross profit surged over six-fold to $487,877. However, the company recorded a net loss of $3,260,361, worsening from a net loss of $739,939 in 2020, primarily due to increased exploration expenses and stock-based compensation. Operationally, gold production and exploration activities expanded, but cash costs per ounce rose to $1,350.10, up from $1,292.77 in 2020.

Idaho Strategic Resources (IDR) is set to ring the Opening Bell for the New York Stock Exchange (NYSE) on March 21st, 2022, marking a historic virtual event from the Golden Chest Mine. CEO John Swallow emphasized the importance of community involvement in this milestone. IDR focuses on producing gold and is recognized for its critical minerals, particularly rare earth elements, essential for a low-carbon future. The company holds the largest private land position in the Murray Gold Belt and is actively involved in U.S. domestic rare earth element initiatives.

Idaho Strategic Resources (IDR) has entered a partnership in the Idaho Global Entrepreneurial Mission (IGEM) Project to focus on the development of Idaho-sourced rare earth elements. This collaborative initiative involves several key local institutions and aims at environmentally friendly processing techniques for neodymium, praseodymium, and yttrium. IDR plans to invest approximately $1 million in drilling activities at its Diamond Creek property. CEO John Swallow emphasized the project’s significance in reducing the U.S.'s reliance on China for rare earth elements.