# EDGAR Filing Document

**Accession Number:** 0001030192
**File Stem:** 0001654954-25-009270
**Filing Date:** 2025-8
**Character Count:** 19678
**Document Hash:** 20abf2d640c0260124f783793a94a2b8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001654954-25-009270.hdr.sgml**: 20250808

**ACCESSION NUMBER**: 0001654954-25-009270

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 17

**CONFORMED PERIOD OF REPORT**: 20250808

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250808

**DATE AS OF CHANGE**: 20250808

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Idaho Strategic Resources, Inc.
- **CENTRAL INDEX KEY:** 0001030192
- **STANDARD INDUSTRIAL CLASSIFICATION:** GOLD & SILVER ORES [1040]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 820490295
- **STATE OF INCORPORATION:** ID
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41320
- **FILM NUMBER:** 251197358

**BUSINESS ADDRESS:**
- **STREET 1:** 201 N. 3RD STREET
- **CITY:** COEUR D'ALENE
- **STATE:** ID
- **ZIP:** 83814
- **BUSINESS PHONE:** (208) 625-9001

**MAIL ADDRESS:**
- **STREET 1:** 201 N. 3RD STREET
- **CITY:** COEUR D'ALENE
- **STATE:** ID
- **ZIP:** 83814

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NEW JERSEY MINING CO
- **DATE OF NAME CHANGE:** 20000107

?xml version='1.0' encoding='ASCII'? idr_8k.htm

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**Current Report**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

Date of Report (Date of Earliest Event Reported):

August 8, 2025

Commission file number: 001-41320

![idr_8kimg1.jpg](idr_8kimg1.jpg)

---

| |
|:---|
| **Idaho Strategic Resources, Inc.** |
| **(Exact Name of Registrant as Specified in its Charter)** |

---

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| | |
|:---|:---|
| **Idaho** | **82-0490295** |
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |

---

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| | |
|:---|:---|
| **201 N. 3rd Street, Coeur d'Alene, ID** | **83814** |
| (Address of principal executive offices)  | (zip code) |

---

Registrant's telephone number, including area code: **<u>(208) 625-9001</u>**

**<u>N/A</u>**

(Former Name or Former Address if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐&nbsp;&nbsp;&nbsp;&nbsp; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐&nbsp;&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(g) of the Act:

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| | | |
|:---|:---|:---|
| **Title of Each Class** | **Trading Symbol(s)** | **Name of Each Exchange on Which Registered** |
| Common Stock, no par value | IDR | NYSE American |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b–2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 7.01 Regulation FD Disclosure.** 

The Company issued a press release on August 7, 2025, announcing its consolidated operating and financial results for the second quarter ending June 30, 2025.

A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference. The information in this Current Report on Form 8-K (including the exhibits) is furnished pursuant to Item 7.01 and shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. This Current Report on Form 8-K will not be deemed an admission as to the materiality of any information in the Report that is required to be disclosed solely by Regulation FD.

**Item 9.01. Financial Statements and Exhibits**

**d) Exhibits**

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| | |
|:---|:---|
| [99.1](idr_ex991.htm) | [Press Release, dated August 7, 2025 entitled "**Idaho Strategic Reports Record Second Quarter Operating and Financial Performance -** *Highlighted by a 54.71% Increase in Revenue to $9,476,739 – a New Quarterly Revenue Record, and the Completion of 5,819 Meters of Drilling*"](idr_ex991.htm) |

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\*The foregoing exhibit relating to Item 7.01 is intended to be furn1ished to, not filed with, the SEC pursuant to Regulation FD.

2<br>

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | |
|:---|:---|
| **IDAHO STRATEGIC RESOURCES, INC.** | **IDAHO STRATEGIC RESOURCES, INC.** |
| By: | /s/ John Swallow |
| John Swallow<br>Its: President & CEO<br>Date: August 8, 2025 | John Swallow<br>Its: President & CEO<br>Date: August 8, 2025 |

---

3<br>

## Exhibit 99.1

**EXHIBIT 99.1**

![](idr_ex991img1.jpg)

**Idaho Strategic Reports Record Second Quarter Operating and Financial Performance**

*Highlighted by a 54.71% Increase in Revenue to $9,476,739 – a New Quarterly Revenue Record, and the Completion of 5,819 Meters of Drilling*

COEUR D'ALENE, Idaho, August 7, 2025 (ACCESSWIRE) – <u>Idaho Strategic Resources, Inc</u>. (NYSE American: IDR) ("IDR", "Idaho Strategic" or the "Company") today announced its consolidated operating and financial results for the second quarter ending June 30, 2025. The Company continues to reinvest a significant amount of cash flow back into the business via drilling and other exploration programs across nearly its entire project portfolio and planned construction activities at the Golden Chest mine. Operating and financial results for the second quarter include:

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| | | | |
|:---|:---|:---|:---|
| **Operational** <br> **Performance:** | **Q2 2025** | **% Change** | **Q2 2024** |
| Ore Tonnes Processed | 10240 | 10.58% | 9260 |
| Average Flotation Feed Grade (gpt) | 9.97 | -3.11% | 10.29 |
| Ounces Produced | 3010 | 3.69% | 2903 |
| All-In Sustaining Cost Per Ounce ($USD) | $1980.41 | 42.75% | $1387.34 |

---

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| | | | |
|:---|:---|:---|:---|
| **Financial** <br> **Performance ($USD):** | **Q2 2025** | **% Change** | **Q2 2024** |
| Revenue | $9476739 | 54.71% | $6125382 |
| Total Cost of Sales | $4000953 | 31.09% | $3051957 |
| Gross Profit | $5475786 | 78.17% | $3073425 |
| Net Income Attributable to IDR | $2767458 | 28.25% | $2157873 |
| Earnings Per Share (EPS) | $0.20 | 17.65% | $0.17 |
| Average Realized Gold Price | $3223.38 | 57.71% | $2043.84 |

---

Idaho Strategic's President and CEO, John Swallow stated, "At IDR, record quarterly revenue and cash flow brings with it record activity and record investment back into the production side of the business and in gold and rare earth elements exploration. There shouldn't be any theorists left surmising what it will be like at $2k or $3k gold – we are now living the times for which we have all been training. And for the 'China dumping commodities' handwringers, the MP/DoD REE announcement of early July was a welcome long-trend reversal and, in my opinion, marked the birth of a new domestic industry and approach in the US. The results listed above are impressive by any measure, and the rare earth side of our business advanced nicely during the quarter, from a macro level as well as from boots on the ground. Adding a supportive domestic demand profile to an industry with only a few established players and where a lot of energy has been expended by outsiders over the last five years looking for new deposits (with little success), is also good for our company and our shareholders. Our balance sheet is strong and this years' re-investment back into the asset base is on track. I am looking forward to the next quarter and a strong finish to 2025."

Idaho Strategic Resources, Inc. • 201 N. 3<sup>rd</sup> Street • Coeur d'Alene, Idaho 83814

**Golden Chest Highlights for Q2 2025 Include:**

· In the second quarter of 2025 ore tonnes processed at the New Jersey Mill increased by approximately 10.58% to 10,240 dry metric tonnes resulting in gold production of 3,010 ounces at an average flotation feed grade of 9.97 grams per tonne ("gpt").

· All-in sustaining cost ("AISC") per ounce of gold in the second quarter of 2025 was $1,980.41, which is an increase of approximately 42.75% over the second quarter of 2024. Cash costs per ounce was $1,064.68 in 2025, compared to $904.67 in 2024. The increase in AISC is largely a result of 5,819 meters of drilling completed during the second quarter of 2025 in alignment with the Company's production-backed exploration business plan. Adjusted AISC per ounce without exploration expenses were $1,313.31 in the second quarter of 2025 and $1,197.99 in the second quarter of 2024.

· During the second quarter, Idaho Strategic completed 5,819 meters of drilling in total. This included 2,176 meters completed at the Golden Chest targeting the Paymaster, Red Star, and the H-Vein; 1,687 meters of drilling at two prospects in the Murray Gold Belt, Buckskin and King Mine; and 1,956 meters of drilling at Eastern Star – the Company's first ever drill program on the project.

· Results from drilling at the Golden Chest were released during the second quarter of 2025. Drilling highlights from 3 different areas of the mine were announced in a press release titled *<u>Idaho Strategic Announces Multiple High-Grade Drill Results from Three Different Target Areas at the Golden Chest Mine</u>.* 

· Significant progress was made at the New Jersey Mill with the completion of the new tailings filtration circuit, which was 80% complete at the end of the first quarter. Commissioning of the tailings filtration circuit was also completed during the second quarter and haulage of tailings back to the Golden Chest mine has commenced as well.

**Rare Earth Highlights for Q2 2025 Include:**

· IDR executed a long-term lease agreement for the mineral claims comprising approximately 1,500 acres of various in-holdings within the Company's Mineral Hill and Lemhi Pass rare earth elements projects. The leased land included the mineral claims covering the Cardinal prospect at the Company's Mineral Hill project, which recently returned greater than 17% total rare earth oxides in a sample taken from a carbonatite outcrop.

· The Company announced the signing of a Memorandum of Understanding with Clean Core Thorium Energy, Inc. in a press release titled *<u>Idaho Strategic and CCTE Team Up to Build America's Thorium Future</u>* .

Idaho Strategic Resources, Inc. • 201 N. 3<sup>rd</sup> Street • Coeur d'Alene, Idaho 83814

**Corporate Highlights for Q2 2025 Include:**

· IDR announced its inclusion in the Russell 3000 index via a press release titled *<u>Idaho Strategic Set to Join the Russell 3000® Index During 2025 Annual Reconstitution</u>* .

Notes accompanying the financial statements below can be found in the Company's quarterly report filed this morning with the SEC on EDGAR.

<u>Qualified person</u>

IDR's Vice President, Grant A. Brackebusch, P.E. is a qualified person as such term is defined under S-K 1300 and has reviewed and approved the technical information and data included in this press release.

**<u>About Idaho Strategic Resources, Inc.</u>**

Idaho Strategic Resources (IDR) is an Idaho-based gold producer which also owns the largest rare earth elements land package in the United States. The Company's business plan was established in anticipation of today's volatile geopolitical and macroeconomic environment. IDR finds itself in a unique position as the only publicly traded company with growing gold production and significant blue-sky potential for rare earth elements exploration and development in one Company.

For more information on Idaho Strategic Resources, please visit <u>www.idahostrategic.com</u> or call:

Travis Swallow, Investor Relations & Corporate Development

Email: <u>tswallow@idahostrategic.com</u>

Phone: (208) 625-9001

Idaho Strategic Resources, Inc. • 201 N. 3<sup>rd</sup> Street • Coeur d'Alene, Idaho 83814

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| | | | | |
|:---|:---|:---|:---|:---|
| **Idaho Strategic Resources, Inc.**<br> **Condensed Consolidated Statements of Operations (Unaudited)**<br> **For the Three and Six-Month Periods Ended June 30, 2025 and 2024** | **Idaho Strategic Resources, Inc.**<br> **Condensed Consolidated Statements of Operations (Unaudited)**<br> **For the Three and Six-Month Periods Ended June 30, 2025 and 2024** | **Idaho Strategic Resources, Inc.**<br> **Condensed Consolidated Statements of Operations (Unaudited)**<br> **For the Three and Six-Month Periods Ended June 30, 2025 and 2024** | **Idaho Strategic Resources, Inc.**<br> **Condensed Consolidated Statements of Operations (Unaudited)**<br> **For the Three and Six-Month Periods Ended June 30, 2025 and 2024** | **Idaho Strategic Resources, Inc.**<br> **Condensed Consolidated Statements of Operations (Unaudited)**<br> **For the Three and Six-Month Periods Ended June 30, 2025 and 2024** |
|  | **June 30, 2025** | **June 30, 2025** | **June 30, 2024** | **June 30, 2024** |
|  | **Three**<br> **Months** | **Six**<br> **Months** | **Three Months** | **Six Months** |
| Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sales of products | $9476739 | $16755275 | $6125382 | $12024320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total revenue | 9476739 | 16755275 | 6125382 | 12024320 |
| Costs of Sales: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cost of sales and other direct production costs | 3459215 | 6490044 | 2596027 | 5154940 |
| &nbsp;&nbsp;&nbsp;&nbsp; Depreciation and amortization | 541738 | 1091359 | 455930 | 957718 |
| Total costs of sales | 4000953 | 7581403 | 3051957 | 6112658 |
| Gross profit | 5475786 | 9173872 | 3073425 | 5911662 |
| Other operating expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Exploration | 2244761 | 3616194 | 620056 | 887904 |
| &nbsp;&nbsp;&nbsp;&nbsp; Management | 268214 | 532959 | 90313 | 199413 |
| &nbsp;&nbsp;&nbsp;&nbsp; Professional services | 153260 | 336998 | 84982 | 239226 |
| &nbsp;&nbsp;&nbsp;&nbsp; General and administrative | 223735 | 460753 | 179456 | 340119 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Gain) loss on disposal of equipment | 68942 | 308840 | 3022 | 7431 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total other operating expenses | 2958912 | 5255744 | 977829 | 1674093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating income | 2516874 | 3918128 | 2095596 | 4237569 |
| Other (income) expense: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity (income) loss on investment in Buckskin Gold and Silver, Inc | 159 | (1187) | 1589 | (278) |
| &nbsp;&nbsp;&nbsp;&nbsp; Timber revenue net of costs | (2848) | (6704) | (6049) | (19406) |
| &nbsp;&nbsp;&nbsp;&nbsp; Loss on investment in equity securities |  |  |  | 453 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest income | (220409) | (405804) | (60468) | (80103) |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest expense | - | - | 25602 | 46167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total other (income) expense | (223098) | (413695) | (39326) | (53167) |
| **Net income** | **2739972** | **4331823** | **2134922** | **4290736** |
| Net loss attributable to non-controlling interest | (27486) | (44614) | (22951) | (38246) |
| Net income attributable to Idaho Strategic Resources, Inc. | $2767458 | $4376437 | $2157873 | $4328982 |
| Net income per common share-basic | $0.20 | $0.32 | $0.17 | $0.34 |
| Weighted average common share outstanding-basic | 14007582 | 13837894 | 12836205 | 12674789 |
| Net income per common share-diluted | $0.20 | $0.31 | $0.17 | $0.34 |
| Weighted average common shares outstanding- diluted | 14134531 | 13939790 | 13043026 | 12904998 |

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Idaho Strategic Resources, Inc. • 201 N. 3<sup>rd</sup> Street • Coeur d'Alene, Idaho 83814

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| | | |
|:---|:---|:---|
| **Idaho Strategic Resources, Inc.**<br> **Condensed Consolidated Balance Sheets (Unaudited)** | **Idaho Strategic Resources, Inc.**<br> **Condensed Consolidated Balance Sheets (Unaudited)** | **Idaho Strategic Resources, Inc.**<br> **Condensed Consolidated Balance Sheets (Unaudited)** |
|  | **June 30,**<br> **2025** | **December 31,**<br> **2024** |
| **ASSETS** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash and cash equivalents | $2444476 | $1106901 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in US treasury notes | 10611794 | 7775193 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gold sales receivable | 2641438 | 1578694 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inventories | 1120993 | 899924 |
| &nbsp;&nbsp;&nbsp;&nbsp; Joint venture receivable | 1108 | 2892 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other current assets | 366137 | 378469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total current assets | 17185946 | 11742073 |
| Property, plant and equipment, net of accumulated depreciation | 16289024 | 12904065 |
| Mineral properties, net of accumulated amortization | 11598167 | 10573349 |
| Investment in Buckskin Gold and Silver, Inc | 342623 | 341436 |
| Investment in joint venture | 435000 | 435000 |
| Investments in US treasury notes, non-current | 11082224 | 7208930 |
| Reclamation bond | 330110 | 249110 |
| Deposits | 436166 | 567667 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total assets | $57699260 | $44021630 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Accounts payable and accrued expenses | $1535858 | $1006078 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued payroll and related payroll expenses | 570525 | 564090 |
| &nbsp;&nbsp;&nbsp;&nbsp; Notes payable, current portion | 1254269 | 709381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total current liabilities | 3360652 | 2279549 |
| Asset retirement obligations | 315264 | 305409 |
| Notes payable, long term | 2025399 | 1023358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total long-term liabilities | 2340663 | 1328767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 5701315 | 3608316 |
| Stockholders' equity: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Preferred stock, no par value, 1,000,000 shares authorized; no shares issued or outstanding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Common stock, no par value, 200,000,000 shares authorized; June 30, 2025-14,058,339 and December 31, 2024- 13,665,058 shares issued and outstanding | 53296323 | 46059318 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accumulated deficit | (3997516) | (8373953) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Idaho Strategic Resources, Inc stockholders' equity | 49298807 | 37685365 |
| &nbsp;&nbsp;&nbsp;&nbsp; Non-controlling interest | 2699138 | 2727949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total stockholders' equity | 51997945 | 40413314 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total liabilities and stockholders' equity | $57699260 | $44021630 |

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Idaho Strategic Resources, Inc. • 201 N. 3<sup>rd</sup> Street • Coeur d'Alene, Idaho 83814

**<u>Forward Looking Statements</u>**

Idaho Strategic Resources, Inc. • 201 N. 3<sup>rd</sup> Street • Coeur d'Alene, Idaho 83814