Idaho Strategic Resources Stock Price, News & Analysis

Idaho Strategic Resources (NYSE American: IDR) announced the successful exploration of the H-Vein at the Golden Chest Mine, intercepting a mineralized vein with promising gold assays of 32.1 grams per tonne (gpt) on the northern rib and 54.1 gpt on the southern rib. The H-Vein is located 60 meters west of the Idaho Vein, exhibiting visible gold and strong pyrite. Initial muck sampling yielded an average grade of 25.1 gpt over 24.8 meters. VP of Operations, Grant Brackebusch, expressed optimism regarding the high gold grades and the efficient mining potential. The exploration aims to further define the vein and may transform the resource classification. The company holds substantial land positions in both gold and rare earth elements, establishing a strategic footprint in the resource sector.

Idaho Strategic Resources (IDR) recently issued a President's Letter to Stakeholders, highlighting the challenges and opportunities in the current economic landscape. The letter emphasizes the importance of gold and rare earth elements (REE) in IDR's business strategy. The company is advancing its mining operations at the Golden Chest Mine, particularly focusing on the H-Vein and Jumbo Vein, with promising gold assay results of 152 g/t and 137 g/t, respectively. IDR closed Q1 2023 with over $3 million in revenue, indicating a position of strength amidst a complex market. Furthermore, IDR is the largest REE landholder in the U.S., with over 18,000 acres in the REE-Th Belt, supporting its long-term plans in the critical minerals sector. CEO John emphasizes the need for continuous evaluation in a changing environment, asserting that IDR's strategic assets are well-positioned for future demand.

Idaho Strategic Resources, Inc. (IDR) reported a successful year-end financial performance for 2022, marking a 25.5% revenue increase and a significant 218% growth in gross profit compared to 2021. The 4th quarter saw a turnaround with a net profit of $603,650, contrasting with a net loss of $1,219,518 in Q4 2021. Annual revenue from gold sales reached $9,580,189, up from $7,630,416 in 2021. The company's operational achievements include the successful exploration of rare earth elements, with land holdings totaling approximately 18,030 acres. CEO John Swallow expressed optimism about IDR's positioning for future growth amid evolving market conditions.

Idaho Strategic Resources (IDR) announced a discovery of 32 meters of Rare Earth Elements (REE) and Niobium (Nb) mineralization at Diamond Creek. The drill samples averaged 1.28% TREE, with neodymium values reaching 3690 ppm. Notably, some samples showed Nb greater than 5000 ppm. The contiguous mineralization suggests a clay-hosted deposit, potentially leading to cost-effective and environmentally friendly mining. The firm aims to expand its resource base through a Phase 2 program that includes extensions to the Cymer prospect. Historical estimates suggest a probable resource of approximately 70,800 metric tonnes of total rare-earth oxides at Diamond Creek.

Idaho Strategic Resources (IDR) has withdrawn its acquisition proposal for Westwater Resources (WWR) at $1.36 per share, citing WWR's Board's refusal to engage in discussions. The proposal represented a 73% premium to WWR's last trading day before the announcement on December 22, 2022. IDR's President John Swallow expressed disappointment over the lack of constructive dialogue, emphasizing the potential for value creation in a new domestic critical minerals supply chain. IDR plans to refocus on its production strategy while monitoring Westwater's situation, aiming to build long-term value and maintain discipline in mergers and acquisitions.

Idaho Strategic Resources (IDR) reported strong performance for 2022, with estimated revenues of $9.5 million and production of 6,000 ounces of gold, marking increases of 24.5% and 24.3% respectively over 2021. CEO John Swallow highlighted the company's strategy of starting small and expanding gradually, leading to consistent shareholder value creation. IDR has implemented a revised mine plan, improving efficiency amid inflation and fluctuating gold prices. The company is also advancing its rare earth elements projects, positioning itself as a credible U.S. operator in a critical minerals sector.

Idaho Strategic Resources (IDR) has proposed a merger with Westwater Resources (WWR) at an attractive premium of approximately 73%, valuing WWR at $1.36 per share. This merger aims to create a leading critical minerals company in the U.S., focusing on graphite, rare earth elements, and gold. Despite WWR's ongoing zero revenue and past 95% stock decline, Idaho Strategic claims that their leadership team has significant industry experience. They urge WWR's board to seriously consider the offer while highlighting that shareholders deserve better than the current management's track record of stock dilution.

Idaho Strategic Resources (IDR) has reported significant findings from its 2022 exploration program at the Lemhi Pass District, where surface outcrops exceeding 4% Total Rare Earth Oxides (TREOs) were located. This discovery effectively doubles previous maximum assay values of 2% recorded by state and federal agencies. Notably, neodymium constituted a substantial component of the TREO values, with samples showing 4.26% TREO at Prospect #2 and 2.35% at Prospect #3. The company has also expanded its land holdings to approximately 7,600 acres. Industry experts believe this area holds substantial untapped potential for rare earth elements (REEs).