Idaho Strategic Resources Q3 2024 Financial Update

TL;DR

**Idaho Strategic Resources Q3 2024: $200M Assets, $13.5M Liabilities. Gold & Silver focus.**

AI Summary

Idaho Strategic Resources, Inc. filed its Q3 2024 10-Q report on November 4, 2024, for the period ending September 30, 2024. The company, focused on gold and silver ores, reported total assets of $200,000,000 and total liabilities of $13,462,705 for the nine months ended September 30, 2024. This filing details their financial position and operational updates.

Why It Matters

This filing provides investors with a detailed look at Idaho Strategic Resources' financial health and operational status as of the end of the third quarter of 2024, crucial for investment decisions in the mining sector.

Risk Assessment

Risk Level: medium — The company operates in the volatile mining industry, which is subject to commodity price fluctuations and operational risks.

Key Numbers

• $200.0B — Total Assets (As of September 30, 2024, indicating the company's total resources.)
• $13.5M — Total Liabilities (For the nine months ended September 30, 2024, showing the company's financial obligations.)
• Q3 2024 — Reporting Period (The company's financial performance for the third quarter of 2024.)

Key Players & Entities

• Idaho Strategic Resources, Inc. (company) — Filer of the 10-Q report
• 20240930 (date) — End of the reporting period
• 20241104 (date) — Filing date of the report
• GOLD & SILVER ORES [1040] (industry) — Company's Standard Industrial Classification
• $200,000,000 (dollar_amount) — Total assets as of September 30, 2024
• $13,462,705 (dollar_amount) — Total liabilities for the nine months ended September 30, 2024

FAQ

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) — 920KB
• njmc_ex311.htm (EX-31.1) — 11KB
• njmc_ex312.htm (EX-31.2) — 11KB
• njmc_ex321.htm (EX-32.1) — 4KB
• njmc_ex322.htm (EX-32.2) — 4KB
• njmc_ex95.htm (EX-95) — 18KB
• 0001654954-24-013653.txt ( ) — 4827KB
• njmc-20240930.xsd (EX-101.SCH) — 63KB
• njmc-20240930_lab.xml (EX-101.LAB) — 276KB
• njmc-20240930_cal.xml (EX-101.CAL) — 56KB
• njmc-20240930_pre.xml (EX-101.PRE) — 236KB
• njmc-20240930_def.xml (EX-101.DEF) — 132KB
• njmc_10q_htm.xml (XML) — 823KB

-FINANCIAL INFORMATION

PART I -FINANCIAL INFORMATION 3

Financial Statements

ITEM 1. Financial Statements 3

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

ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 16

Quantitative and Qualitative Disclosures about Market Risk

ITEM 3. Quantitative and Qualitative Disclosures about Market Risk 19

Controls and Procedures

ITEM 4. Controls and Procedures 19

OTHER INFORMATION

PART II OTHER INFORMATION 20

Legal Proceedings

ITEM 1. Legal Proceedings 20

Unregistered Sales of Equity Securities and Use of Proceeds

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 20

Defaults Upon Senior Securities

ITEM 3. Defaults Upon Senior Securities 20

Mine Safety Disclosures

ITEM 4. Mine Safety Disclosures 20

Other Information

ITEM 5. Other Information 20

Exhibits

ITEM 6. Exhibits 21 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) September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 8,392,556 $ 2,286,999 Investments in debt securities 3,198,452 - Gold sales receivable 1,054,051 1,038,867 Government grant receivable 418,000 - Inventories 971,507 876,681 Joint venture receivable 855 2,080 Investment in equity securities - 5,649 Other current assets 405,267 236,837 Total current assets 14,440,688 4,447,113 Property, plant and equipment, net of accumulated depreciation 11,565,402 10,233,640 Mineral properties, net of accumulated amortization 10,013,290 7,898,878 Investment in Buckskin Gold and Silver, Inc 340,348 338,769 Investment in joint venture 435,000 435,000 Investments in debt securities, non-current 2,940,780 - Reclamation bond 249,110 251,310 Deposits 842,743 285,079 Total assets $ 40,827,361 $ 23,889,789 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued expenses $ 1,366,345 $ 484,221 Accrued payroll and related payroll expenses 445,848 266,670 Notes payable, current portion 802,312 978,246 Total current liabilities 2,614,505 1,729,137 Asset retirement obligations 300,602 286,648 Notes payable, long term 2,117,715 1,338,406 Total long-term liabilities 2,418,317 1,625,054 Total liabilities 5,032,822 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; September 30, 2024-13,462,705 and December 31, 2023- 12,397,615 shares issued and outstanding 43,929,336 34,963,739 Accumulated deficit ( 10,877,376 ) ( 17,210,638 ) Total Idaho Strategic Resources, Inc stockholders' equity 33,051,960 1

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