IDR Form 144: Insider Sale of 87,470 Shares Worth $2.65M

Idaho Strategic Resources, Inc. (IDR) filed a Form 144 reporting a proposed sale of 87,470 common shares through Morgan Stanley Smith Barney LLC on the NYSE, with an aggregate market value of $2,651,691.58 and an approximate sale date of 09/23/2025.

Rhea-AI Filing Summary

Idaho Strategic Resources, Inc. (IDR) filed a Form 144 reporting a proposed sale of 87,470 common shares through Morgan Stanley Smith Barney LLC on the NYSE, with an aggregate market value of $2,651,691.58 and an approximate sale date of 09/23/2025. The filer reports these shares were privately acquired from the issuer on 01/29/2014 and paid for in cash. The filing also discloses two recent sales by the same person totaling 150,000 shares for gross proceeds of $2,643,000.00 on 07/10/2025 and 08/19/2025. The notice includes the seller's certification that no undisclosed material adverse information is known.

Positive

• None.

Negative

• Insider sale size: Proposed sale of 87,470 shares worth $2,651,691.58, following earlier sales of 150,000 shares this year.
• No Rule 10b5-1 disclosure: Filing does not state whether sales are under a pre-established trading plan, leaving motive unclear.

Insights

Securities Analyst

TL;DR: Insider proposes to sell 87,470 shares valued at $2.65M; recent sales total 150,000 shares, indicating ongoing dispositions.

The filing shows a non-routine insider disposition: the 87,470-share notice at an aggregate market value of $2,651,691.58 is sizable relative to typical microcap free floats and follows two sales this year totaling 150,000 shares for $2,643,000. The shares were originally acquired in a private issuance in 2014 and paid in cash, so these are not newly created shares. For investors, repeated insider sales can signal liquidity needs or portfolio rebalancing rather than company-specific bad news; the filing itself contains no disclosure of adverse developments.

Corporate Governance Expert

TL;DR: Multiple insider sales in a short period raise governance and signaling concerns for shareholders.

From a governance perspective, the sequence of transactions—100,000 shares on 07/10/2025, 50,000 on 08/19/2025, and a planned 87,470 on 09/23/2025—represents meaningful insider liquidity events. While the filer affirms lack of undisclosed material information, clustered sales by an insider may prompt questions about insider alignment with long-term shareholders and warrants monitoring of subsequent filings or disclosures. The filing does not provide explanations such as trading plans under Rule 10b5-1, which would mitigate interpretive uncertainty.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the IDR Form 144 report?

The filing reports a proposed sale of 87,470 common shares on 09/23/2025 via Morgan Stanley Smith Barney LLC, valued at $2,651,691.58.

Who is selling the shares in the IDR filing?

The seller is identified by name and address in the filing as John Swallow at the provided address; recent sales by the same person are also disclosed.

When were the shares being sold originally acquired?

The shares were acquired in a private acquisition from the issuer on 01/29/2014 and paid for in cash.

Have there been recent insider sales for IDR this year?

Yes. The filer sold 100,000 shares on 07/10/2025 for $1,527,070.00 and 50,000 shares on 08/19/2025 for $1,175,930.00.

Does the Form 144 indicate undisclosed adverse information about IDR?

No. The signer represents they do not know any material adverse information not publicly disclosed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 09/23/2025 - 04:06 PM Learn about SEC filing dates

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001345771
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Idaho Strategic Resources Inc.
SEC File Number	001-41320
Address of Issuer	201 N. 3RD STREET COEUR D'ALENE IDAHO 83814
Phone	208 625 9001
Name of Person for Whose Account the Securities are To Be Sold	JOHN SWALLOW
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Officer
Relationship to Issuer	Director

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	87470	2651691.58	14505392	09/23/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	01/29/2014	Private Acquisition from Issuer/Affiliate	Issuer			87470	01/29/2014	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
JOHN SWALLOW 201 N. 3RD STREET COEUR D'ALENE ID 83814	Common	08/19/2025	50000	1175930.00
JOHN SWALLOW 201 N. 3RD STREET COEUR D'ALENE ID 83814	Common	07/10/2025	100000	1527070.00

144: Remarks and Signature

Remarks
Date of Notice	09/23/2025
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	/s/ John Swallow
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)