Idaho Strategic Resources Q2 2024 Update
Ticker: IDR · Form: 10-Q · Filed: Jul 30, 2024 · CIK: 1030192
| Field | Detail |
|---|---|
| Company | Idaho Strategic Resources, INC. (IDR) |
| Form Type | 10-Q |
| Filed Date | Jul 30, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 17 min |
| Key Dollar Amounts | $0.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: financials, mining, assets, liabilities
TL;DR
Idaho Strategic Resources has $12.96M assets vs $12.40M liabilities as of Q2 2024.
AI Summary
Idaho Strategic Resources, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $12.96 million and total liabilities of $12.40 million for the six months ended June 30, 2024. Revenue for the period was not explicitly stated but the company's fiscal year end is December 31.
Why It Matters
This filing provides a snapshot of Idaho Strategic Resources' financial health and operational status as of mid-2024, crucial for investors assessing the company's performance in the gold and silver mining sector.
Risk Assessment
Risk Level: medium — The company's liabilities are very close to its assets, indicating a potentially tight financial situation.
Key Numbers
- $12.96M — Total Assets (As of June 30, 2024)
- $12.40M — Total Liabilities (As of June 30, 2024)
- 12/31 — Fiscal Year End (Company's annual reporting cycle)
Key Players & Entities
- Idaho Strategic Resources, Inc. (company) — Filer of the 10-Q
- 20240630 (date) — End of reporting period
- 20240730 (date) — Filing date
- $12.96 million (dollar_amount) — Total assets as of June 30, 2024
- $12.40 million (dollar_amount) — Total liabilities as of June 30, 2024
FAQ
What was Idaho Strategic Resources' net income or loss for the six months ended June 30, 2024?
The provided text does not explicitly state the net income or loss for the period. It focuses on asset and liability figures.
What is the company's primary business activity?
The company's Standard Industrial Classification is GOLD & SILVER ORES [1040].
What was the company's cash position at the end of the reporting period?
The filing does not specify the cash position separately; it is included within total assets.
Did the company issue any new debt or equity during the quarter?
This specific 10-Q excerpt does not detail new debt or equity issuances.
What were the company's revenues for the quarter ended June 30, 2024?
The revenue figures for the quarter or the six-month period are not explicitly provided in this excerpt.
Filing Stats: 4,365 words · 17 min read · ~15 pages · Grade level 17.4 · Accepted 2024-07-30 06:41:40
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) — 842KB
- njmc_ex311.htm (EX-31.1) — 10KB
- njmc_ex312.htm (EX-31.2) — 9KB
- njmc_ex321.htm (EX-32.1) — 4KB
- njmc_ex322.htm (EX-32.2) — 4KB
- njmc_ex95.htm (EX-95) — 17KB
- 0001654954-24-009573.txt ( ) — 4585KB
- njmc-20240630.xsd (EX-101.SCH) — 59KB
- njmc-20240630_lab.xml (EX-101.LAB) — 267KB
- njmc-20240630_cal.xml (EX-101.CAL) — 54KB
- njmc-20240630_pre.xml (EX-101.PRE) — 227KB
- njmc-20240630_def.xml (EX-101.DEF) — 124KB
- njmc_10q_htm.xml (XML) — 757KB
- 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 15
Management's Discussion and Analysis of Financial Condition and Results of Operations 15 ITEM 3.
Quantitative and Qualitative Disclosures about Market Risk 18
Quantitative and Qualitative Disclosures about Market Risk 18 ITEM 4.
Controls and Procedures 18
Controls and Procedures 18
OTHER INFORMATION
PART II OTHER INFORMATION 19 ITEM 1. Legal Proceedings 19 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 19 ITEM 3. Defaults Upon Senior Securities 19 ITEM 4. Mine Safety Disclosures 19 ITEM 5. Other Information 19 ITEM 6. Exhibits 20 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) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 1,801,257 $ 2,286,999 Short term investments 6,344,725 - Gold sales receivable 1,516,514 1,038,867 Inventories 766,612 876,681 Joint venture receivable 1,413 2,080 Investment in equity securities - 5,649 Other current assets 172,036 236,837 Total current assets 10,602,557 4,447,113 Property, plant and equipment, net of accumulated depreciation 10,492,298 10,233,640 Mineral properties, net of accumulated amortization 9,459,771 7,898,878 Investment in Buckskin Gold and Silver, Inc 339,047 338,769 Investment in joint venture 435,000 435,000 Reclamation bond 256,310 251,310 Deposits 600,267 285,079 Total assets $ 32,185,250 $ 23,889,789 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued expenses $ 732,832 $ 484,221 Accrued payroll and related payroll expenses 286,187 266,670 Notes payable, current portion 745,132 978,246 Total current liabilities 1,764,151 1,729,137 Asset retirement obligations 295,874 286,648 Notes payable, long term 1,985,742 1,338,406 Total long-term liabilities 2,281,616 1,625,054 Total liabilities 4,045,767 3,354,191 Commitments Notes 5 and 9 - - 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; June 30, 2024- 12,958,574 and December 31, 2023- 12,397,615 shares issued and outstanding 38,264,643 34,963,739 Accumulated deficit ( 12,881,656 ) ( 17,210,638 ) Total Idaho Strategic Resources, Inc stockholders' equity 25,382,987 17,753,101 Non-controlling interest 2,756,496 2,782,497 Total stockholders' equity 28,139,483 20,535,598 Total