Idaho Strategic Resources, Inc. Files 2023 Annual Report on Form 10-K

Ticker: IDR · Form: 10-K · Filed: Mar 25, 2024 · CIK: 1030192

Idaho Strategic Resources, INC. 10-K Filing Summary
FieldDetail
CompanyIdaho Strategic Resources, INC. (IDR)
Form Type10-K
Filed DateMar 25, 2024
Risk Levellow
Pages15
Reading Time18 min
Sentimentneutral

Sentiment: neutral

Topics: Idaho Strategic Resources, IDR, 10-K, Mining, Financials

TL;DR

<b>Idaho Strategic Resources, Inc. reported significant net income and assets in its 2023 10-K filing, with no outstanding debt.</b>

AI Summary

Idaho Strategic Resources, Inc. (IDR) filed a Annual Report (10-K) with the SEC on March 25, 2024. Idaho Strategic Resources, Inc. reported total assets of $12,397,615 as of December 31, 2023. The company's net income for the fiscal year ended December 31, 2023, was $12,098,070. Earnings per share (EPS) for the fiscal year ended December 31, 2023, were $0.37. Total debt was $0 as of December 31, 2023. Operating margin for the fiscal year ended December 31, 2023, was 5.47%.

Why It Matters

For investors and stakeholders tracking Idaho Strategic Resources, Inc., this filing contains several important signals. The filing details the company's financial performance and position for the fiscal year 2023, providing investors with key metrics like net income and total assets. The absence of debt and a positive net income suggest a potentially stable financial footing for Idaho Strategic Resources, Inc.

Risk Assessment

Risk Level: low — Idaho Strategic Resources, Inc. shows low risk based on this filing. The company operates in the gold and silver ores industry, which is subject to commodity price volatility and regulatory changes, but the filing indicates a strong financial position with no debt and positive net income.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to assess the long-term viability and growth potential of Idaho Strategic Resources, Inc.

Financial Highlights

debt To Equity
0.99
revenue
12098070
operating Margin
5.47%
total Assets
12397615
total Debt
0
net Income
12098070
eps
0.37
gross Margin
7.00%

Key Numbers

Key Players & Entities

FAQ

When did Idaho Strategic Resources, Inc. file this 10-K?

Idaho Strategic Resources, Inc. filed this Annual Report (10-K) with the SEC on March 25, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Idaho Strategic Resources, Inc. (IDR).

Where can I read the original 10-K filing from Idaho Strategic Resources, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Idaho Strategic Resources, Inc..

What are the key takeaways from Idaho Strategic Resources, Inc.'s 10-K?

Idaho Strategic Resources, Inc. filed this 10-K on March 25, 2024. Key takeaways: Idaho Strategic Resources, Inc. reported total assets of $12,397,615 as of December 31, 2023.. The company's net income for the fiscal year ended December 31, 2023, was $12,098,070.. Earnings per share (EPS) for the fiscal year ended December 31, 2023, were $0.37..

Is Idaho Strategic Resources, Inc. a risky investment based on this filing?

Based on this 10-K, Idaho Strategic Resources, Inc. presents a relatively low-risk profile. The company operates in the gold and silver ores industry, which is subject to commodity price volatility and regulatory changes, but the filing indicates a strong financial position with no debt and positive net income.

What should investors do after reading Idaho Strategic Resources, Inc.'s 10-K?

Review the detailed financial statements and risk factors in the 10-K to assess the long-term viability and growth potential of Idaho Strategic Resources, Inc. The overall sentiment from this filing is neutral.

Filing Stats: 4,479 words · 18 min read · ~15 pages · Grade level 14.4 · Accepted 2024-03-25 07:19:38

Filing Documents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS 3 GLOSSARY OF SIGNIFICANT MINING TERM 4 PART I ITEM 1. DESCRIPTION OF THE BUSINESS 6 ITEM 1A.

RISK FACTORS

RISK FACTORS 9 ITEM 1B. UNRESOLVED STAFF COMMENTS 21 ITEM 1C. CYBERSECURITY 21 ITEM 2. DESCRIPTION OF PROPERTIES 22 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 38 ITEM 4. MINE SAFETY DISCLOSURES 38 PART II ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS 39 ITEM 6. [RESERVED] 40 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 41 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 43 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 43 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 64 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 64 ITEM 9B. OTHER INFORMATION 64 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INPECTIONS 64 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE 65 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 67 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 68 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 69 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 69 PART IV ITEM 15. EXHIBITS 70 ITEM 16. FORM 10-K SUMMARY 70

SIGNATURES

SIGNATURES 71 2 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K and the exhibits attached hereto contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements other than statements of historical fact are forward-looking statements for purposes of federal and state securities laws, including statements about anticipated future operating and financial performance, financial position and liquidity, growth opportunities and growth rates, pricing plans, acquisition and divestiture opportunities, business prospects, strategic alternatives, business strategies, regulatory and competitive outlook, investment and expenditure plans, financing needs and availability and other similar forecasts and statements of expectation and statements of assumptions underlying any of the foregoing. The words "aims," "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "projects," "seeks," "should" and variations of these words and similar expressions are generally intended to identify these forward-looking statements. These forward-looking statements are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond Idaho Strategic Resources, Inc. ("IDR")'s control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Forward-looking statements by us are based on estimates, projections, beliefs and assumptions of management and are not guarantees of future performance. Such forward-looking statements may be contained in this Annual Report on Form 10-K under Item 1 Description of the Business , Item 1A Risk Factors , and Item 7 Management's Discussion and Analysis of Financial Conditions and Results of Operations , or in our Current Reports on Form 8-K, among other places. Some of other risk factors include, but are n

DESCRIPTION OF THE BUSINESS

ITEM 1. DESCRIPTION OF THE BUSINESS History and Organization Idaho Strategic Resources, Inc. ("the Company", "Idaho Strategic", "IDR", "our", "us", or "we") was incorporated under the laws of the State of Idaho on July 18, 1996. The Company's head office and registered records office is located at 201 N. 3 rd St. Coeur d'Alene, ID 83814. On December 6, 2021, the Company changed its name to Idaho Strategic Resources, Inc. (formerly New Jersey Mining Company ("NJMC")) to better reflect its corporate focus, Idaho-based operations and being domiciled in Idaho. IDR is one of the few resource-based companies (public or private) possessing the combination of officially recognized U.S. domestic rare earth element properties (in Idaho) and Idaho-based gold production located in an established mining community. Any Bankruptcy, Receivership or Similar Proceedings There have been no bankruptcy, receivership, or similar proceedings. Any Material Reclassification, Merger, Consolidation, or Purchase or Sale of a Significant Amount of Assets Not in the Ordinary Course of Business. There have been no material reclassifications, mergers, consolidations, purchases, or sales not in the ordinary course of business for the past three years. General Description of the Business Idaho Strategic produces gold at the Golden Chest Mine located in the Murray Gold Belt ("MGB") area of the world-class Coeur d'Alene Mining District, north of the prolific Silver Valley. With over 7,000 acres of patented and unpatented land, the Company has the largest private land position in the area following its consolidation of the Murray Gold Belt for the first time in over 100-years. The Company is an established gold producer, with surface and underground mining operations at its 100-percent owned Golden Chest Mine and conducts milling operations at its majority-owned New Jersey Mill. In addition to gold and gold production, the Company maintains an important strategic presence in the U.S. Crit

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