.jpg)
1 hour ago
3
Article content
For more information on Idaho Strategic Resources, please visit www.idahostrategic.com or call:
Article content
Travis Swallow, Investor Relations & Corporate Development
Email: [email protected]
Phone: (208) 625-9001
Article content
Idaho Strategic Resources, Inc. | ||||||||
Condensed Consolidated Statements of Operations (Unaudited) | ||||||||
For the Three-Month Periods Ended March 31, 2026 and 2025 | ||||||||
March 31, | ||||||||
2026 | 2025 | |||||||
Revenue: | ||||||||
Sales of products, net | $ | 14,482,286 | $ | 7,278,536 | ||||
Total revenue | 14,482,286 | 7,278,536 | ||||||
Costs of Sales: | ||||||||
Cost of sales and other direct production costs | 4,203,603 | 3,030,829 | ||||||
Depreciation and amortization | 713,785 | 549,621 | ||||||
Total costs of sales | 4,917,388 | 3,580,450 | ||||||
Gross profit | 9,564,898 | 3,698,086 | ||||||
Other operating expenses: | ||||||||
Exploration | 1,389,349 | 1,371,433 | ||||||
Management | 189,643 | 264,745 | ||||||
Professional services | 181,351 | 183,738 | ||||||
General and administrative | 223,027 | 237,018 | ||||||
(Gain) loss on sale of equipment | (632 | ) | 239,898 | |||||
Total other operating expenses | 1,982,738 | 2,296,832 | ||||||
Operating income | 7,582,160 | 1,401,254 | ||||||
Other (income) expense: | ||||||||
Equity (income) loss on investment in Buckskin Gold and Silver, Inc. | 168 | (1,346 | ) | |||||
Loss on investment in equity securities and mutual funds | 304,241 | – | ||||||
Timber revenue net of costs | (3,209 | ) | (3,856 | ) | ||||
Dividend income | (55,532 | ) | – | |||||
Interest income | (392,018 | ) | (185,395 | ) | ||||
Total other income | (146,350 | ) | (190,597 | ) | ||||
Income before income taxes | 7,728,510 | 1,591,851 | ||||||
Income tax provision | 1,359,320 | – | ||||||
Net income | 6,369,190 | 1,591,851 | ||||||
Net loss attributable to non-controlling interest | (18,802 | ) | (17,128 | ) | ||||
Net income attributable to Idaho Strategic Resources, Inc. | $ | 6,387,992 | $ | 1,608,979 | ||||
Net income per common share-basic | $ | 0.40 | $ | 0.12 | ||||
Weighted average common share outstanding-basic | 15,795,072 | 13,666,321 | ||||||
Net income per common share-diluted | $ | 0.40 | $ | 0.12 | ||||
Weighted average common shares outstanding-diluted | 15,976,298 | 13,735,770 | ||||||
Article content
Idaho Strategic Resources, Inc. | ||||||||
Condensed Consolidated Balance Sheets (Unaudited) | ||||||||
March 31, | December 31, | |||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 20,791,904 | $ | 9,889,765 | ||||
Investments in US treasury notes | 27,765,146 | 27,679,881 | ||||||
Investment in equity securities | – | 4,129,521 | ||||||
Investment in mutual funds | – | 3,957,497 | ||||||
Gold sales receivable | 3,920,174 | 3,912,922 | ||||||
Inventories | 1,233,751 | 965,112 | ||||||
Joint venture receivable | 3,796 | 12,760 | ||||||
Other current assets | 872,289 | 799,261 | ||||||
Total current assets | 54,587,060 | 51,346,719 | ||||||
Property, plant and equipment, net of accumulated depreciation | 21,735,741 | 19,503,962 | ||||||
Mineral properties, net of accumulated amortization | 17,500,099 | 15,742,370 | ||||||
Investments in US treasury notes, non-current | 27,894,995 | 27,651,843 | ||||||
Investment in Buckskin Gold and Silver, Inc. | 344,914 | 345,082 | ||||||
Investment in joint venture | 435,000 | 435,000 | ||||||
Reclamation bonds | 355,220 | 355,220 | ||||||
Deposits | 3,116,502 | 858,534 | ||||||
Total assets | $ | 125,969,531 | $ | 116,238,730 | ||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
Current liabilities: | ||||||||
Accounts payable and accrued expenses | $ | 1,676,476 | $ | 1,904,589 | ||||
Accrued payroll and related payroll expenses | 819,775 | 409,212 | ||||||
Notes payable, current portion | 879,822 | 1,029,336 | ||||||
Income taxes payable | 899,175 | 334,446 | ||||||
Total current liabilities | 4,275,248 | 3,677,583 | ||||||
Asset retirement obligations | 330,672 | 325,451 | ||||||
Notes payable, long term | 1,143,678 | 1,302,048 | ||||||
Deferred income tax liabilities | 886,291 | 91,700 | ||||||
Total long-term liabilities | 2,360,641 | 1,719,199 | ||||||
Total liabilities | 6,635,889 | 5,396,782 | ||||||
Stockholders’ equity: | ||||||||
Preferred stock, no par value, 1,000,000 shares authorized; no shares issued or outstanding | – | – | ||||||
Common stock, no par value, 200,000,000 shares authorized; March 31, 2026-15,806,301 and December 31, 2025- 15,705,199 shares issued and outstanding | 101,946,729 | 99,828,021 | ||||||
Retained earnings | 14,729,713 | 8,341,721 | ||||||
Total Idaho Strategic Resources, Inc. stockholders’ equity | 116,676,442 | 108,169,742 | ||||||
Non-controlling interest | 2,657,200 | 2,672,206 | ||||||
Total stockholders’ equity | 119,333,642 | 110,841,948 | ||||||
Total liabilities and stockholders’ equity | $ | 125,969,531 | $ | 116,238,730 | ||||
Article content
Article content
Forward Looking Statements
Article content
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that are intended to be covered by the safe harbor created by such sections. Often, but not always, forward-looking information can be identified by forward-looking words such as “intends”, “potential”, “believe”, “plans”, “expects”, “may”, “goal”, “assume”, “estimate”, “anticipate”, and “will” or similar words suggesting future outcomes, or other expectations, beliefs, assumptions, intentions, or statements about future events or performance. Forward-looking information includes, but are not limited to, Idaho Strategic Resources’ potential to deliver Q2 2026 financial performance that is in-line, better, or worse than Q1 2026; the ability for the Company to maintain its profitability while continuing to invest in exploration and capex initiatives at the Golden Chest; the potential for the Company to complete all of its planned drilling and exploration activities during 2026; the potential for Niagara to be a potentially significant copper-silver project; the potential for the Company’s Murray Gold Belt landholdings to contain high-quality exploration targets for many years; and the potential for the Company’s buildout of the Murray Mill to continue without interruption. Forward-looking information is based on the opinions and estimates of Idaho Strategic Resources as of the date such information is provided and is subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance, or achievements of IDR to be materially different from those expressed or implied by such forward-looking information. Investors should note that IDR’s claim as the largest rare earth elements landholder in the U.S. is based on the Company’s internal review of publicly available information regarding the rare earth landholdings of select companies within the U.S., which IDR is aware of. Investors are encouraged not to rely on IDR’s claim as the largest rare earth elements landholder in the U.S. while making investment decisions. The forward-looking statement information above, and those following are applicable to both this press release, as well as the links contained within this press release. With respect to the business of Idaho Strategic Resources, these risks and uncertainties include risks relating to widespread epidemics or pandemic outbreaks; interpretations or reinterpretations of geologic information; the accuracy of historic estimates; unfavorable exploration results; inability to obtain permits required for future exploration, development or production; general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices; the ability to obtain necessary future financing on acceptable terms; the ability to operate the Company’s projects; and risks associated with the mining industry such as economic factors (including future commodity prices, and energy prices), ground conditions, failure of plant, equipment, processes and transportation services to operate as anticipated, environmental risks, government regulation, actual results of current exploration and production activities, possible variations in ore grade or recovery rates, permitting timelines, capital and construction expenditures, reclamation activities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Readers are cautioned not to place undue reliance on such information. Additional information regarding the factors that may cause actual results to differ materially from this forward‐looking information is available in Idaho Strategic Resources filings with the SEC on EDGAR. IDR does not undertake any obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
Article content
Article content
Article content
Article content
View source version on businesswire.com:
Article content
Article content
Article content
Contacts
Article content
Travis Swallow, Investor Relations & Corporate Development
Email: [email protected]
Phone: (208) 625-9001
Article content
English (US)