Idaho Strategic Resources, Inc. Files Q1 2024 10-Q

TL;DR

<b>Idaho Strategic Resources, Inc. filed its Q1 2024 10-Q report, detailing its financial performance and operations for the period ending March 31, 2024.</b>

AI Summary

Idaho Strategic Resources, Inc. (IDR) filed a Quarterly Report (10-Q) with the SEC on May 6, 2024. Idaho Strategic Resources, Inc. filed its Q1 2024 10-Q report on May 6, 2024. The company's fiscal year ends on December 31. The filing covers the period from January 1, 2024, to March 31, 2024. The company's principal business is Gold & Silver Ores. The company is incorporated in Idaho (ID).

Why It Matters

For investors and stakeholders tracking Idaho Strategic Resources, Inc., this filing contains several important signals. This filing provides investors with the latest financial data and operational updates for Idaho Strategic Resources, Inc., crucial for assessing the company's current standing and future prospects in the gold and silver mining sector. Understanding the details within this 10-Q is essential for stakeholders to make informed investment decisions regarding IDR's performance and potential risks.

Risk Assessment

Risk Level: medium — Idaho Strategic Resources, Inc. shows moderate risk based on this filing. The company operates in the volatile gold and silver mining industry, which is subject to significant price fluctuations and operational risks, as indicated by its SIC code for Gold & Silver Ores.

Analyst Insight

Review the detailed financial statements and management discussion in the 10-Q to understand the company's revenue, expenses, and cash flow for Q1 2024.

Key Numbers

• 2024-03-31 — Period End Date (10-Q Filing)
• 2024-01-01 — Period Start Date (10-Q Filing)
• 1231 — Fiscal Year End (Company Data)
• 001-41320 — SEC File Number (Filing Values)

Key Players & Entities

• Idaho Strategic Resources, Inc. (company) — Filer
• IDR (company) — Ticker Symbol
• 2024-05-06 (date) — Filing Date
• 2024-03-31 (date) — Period of Report
• Gold & Silver Ores (industry) — Standard Industrial Classification
• Coeur d'Alene, ID (location) — Business Address City/State

FAQ

Risk Factors

• Commodity Price Volatility [high — market]: The company's financial performance is highly sensitive to fluctuations in the market prices of gold and silver, which can significantly impact revenue and profitability.
• Mining Operations Risks [medium — operational]: Exploration, development, and mining operations are subject to various risks including geological uncertainties, equipment failures, and environmental challenges.
• Financing and Liquidity [medium — financial]: The company may require additional financing to fund its operations and development projects, and its ability to secure such financing on favorable terms is not guaranteed.

Key Dates

• 2024-05-06: 10-Q Filing — Filing of the quarterly report for Q1 2024.
• 2024-03-31: Quarterly Period End — End date for the financial reporting period covered by the 10-Q.
• 2024-01-01: Quarterly Period Start — Start date for the financial reporting period covered by the 10-Q.

Key Financial Figures

• $0.00 — nge on Which Registered Common Stock, $0.00 par value IDR NYSE American Check

Filing Documents

• njmc_10q.htm (10-Q) — 658KB
• njmc_ex101.htm (EX-10.1) — 126KB
• njmc_ex311.htm (EX-31.1) — 7KB
• njmc_ex312.htm (EX-31.2) — 7KB
• njmc_ex321.htm (EX-32.1) — 5KB
• njmc_ex322.htm (EX-32.2) — 5KB
• njmc_ex95.htm (EX-95) — 17KB
• 0001654954-24-005585.txt (&nbsp;) — 4176KB
• njmc-20240331.xsd (EX-101.SCH) — 58KB
• njmc-20240331_lab.xml (EX-101.LAB) — 258KB
• njmc-20240331_cal.xml (EX-101.CAL) — 51KB
• njmc-20240331_pre.xml (EX-101.PRE) — 218KB
• njmc-20240331_def.xml (EX-101.DEF) — 119KB
• njmc_10q_htm.xml (XML) — 615KB

-FINANCIAL INFORMATION

PART I -FINANCIAL INFORMATION 3 ITEM 1.

Financial Statements 3

Financial Statements 3 ITEM 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations 13

Management's Discussion and Analysis of Financial Condition and Results of Operations 13 ITEM 3.

Quantitative and Qualitative Disclosures about Market Risk 16

Quantitative and Qualitative Disclosures about Market Risk 16 ITEM 4.

Controls and Procedures 16

Controls and Procedures 16

OTHER INFORMATION

PART II OTHER INFORMATION 17 ITEM 1. Legal Proceedings 17 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 17 ITEM 3. Defaults Upon Senior Securities 17 ITEM 4. Mine Safety Disclosures 17 ITEM 5. Other Information 17 ITEM 6. Exhibits 18 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

: Financial Statements

ITEM 1: Financial Statements Idaho Strategic Resources, Inc. Condensed Consolidated Balance Sheets (Unaudited) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 5,295,457 $ 2,286,999 Gold sales receivable 1,238,474 1,038,867 Inventories 796,836 876,681 Joint venture receivable 1,598 2,080 Investment in equity securities - 5,649 Other current assets 209,824 236,837 Total current assets 7,542,189 4,447,113 Property, plant and equipment, net of accumulated depreciation 10,665,673 10,233,640 Mineral properties, net of accumulated amortization 9,088,070 7,898,878 Investment in Buckskin Gold and Silver, Inc 340,636 338,769 Investment in joint venture 435,000 435,000 Reclamation bond 251,310 251,310 Deposits 377,420 285,079 Total assets $ 28,700,298 $ 23,889,789 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued expenses $ 485,363 $ 484,221 Accrued payroll and related payroll expenses 272,476 266,670 Notes payable, current portion 1,090,329 978,246 Total current liabilities 1,848,168 1,729,137 Asset retirement obligations 291,223 286,648 Notes payable, long term 2,167,060 1,338,406 Total long-term liabilities 2,458,283 1,625,054 Total liabilities 4,306,451 3,354,191 Commitments - - 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, 2024- 12,683,037 and December 31, 2023- 12,397,615 shares issued and outstanding 36,664,576 34,963,739 Accumulated deficit ( 15,039,529 ) ( 17,210,638 ) Total Idaho Strategic Resources, Inc stockholders' equity 21,625,047 17,753,101 Non-controlling interest 2,768,800 2,782,497 Total stockholders' equity 24,393,847 20,535,598 Total liabilities and stockholders' equity $ 28,700,298

View Full Filing

View this 10-Q filing on SEC EDGAR