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Idaho Strategic Resources, Inc. announced a collaboration with Radiant Industries, Inc. to participate in the Kaleidos Frontier Pilot Program. The program aims to develop and deploy a meltdown-proof portable microreactor, Kaleidos, at remote mine sites. Radiant's Kaleidos unit is designed to provide clean, cost-effective power in hard-to-reach locations, replacing diesel generators. Idaho Strategic and Radiant will study the licensing process and timeline for deploying the Kaleidos unit. The agreement holds potential for both companies to work together in advancing domestic critical mineral supply chains and rare earth element properties. Radiant's Kaleidos reactor addresses a specific pain point faced by mining operations in a sustainable way. The collaboration aligns with efforts to secure clean power solutions for the mining industry. Radiant is building towards a test at Idaho National Laboratory in 2026, with commercial reactors available by 2028. The partnership also receives support from the U.S. Department of Energy and the U.S. Department of Defense.
Idaho Strategic Resources, Inc. provided a President's Letter to Stakeholders highlighting an 80.6% increase in gold production in Q1 2024, attributing success to team efforts and upcoming exploration plans. The Company plans to construct a paste backfill plant and a future mill at the Golden Chest site. Significant progress was made in REE projects, advancing critical minerals efforts. The President's decision to sell 10% of stockholdings for estate planning reasons does not reflect doubt in the Company's future.
Idaho Strategic Resources, Inc. (NYSE American: IDR) reported a remarkable first quarter for 2024 with a 76.5% revenue increase and a 35-fold surge in net income compared to the same period in 2023. The company exceeded its total net income for 2023, showcasing significant growth in operational and financial performance. Key highlights include higher gold prices, increased gold grades, and strategic investments in production and exploration activities.
