Idaho Strategic Resources Reports 54.7% Revenue Growth in Q2 2025

Idaho Strategic Resources, Inc. reported significant financial growth in its latest 10-Q filing for the second quarter of 2025, with total revenue reaching $9.5 million for the three-month period ending June 30, 2025, a 54.7% increase compared to $6.1 million in the same period of 2024. For the six-month period, revenue rose to $16.8 million, up 39.3% from $12 million in the prior year. The increase in revenue was attributed to a higher average gold price realized on ounces sold, which was $3,223.38 for the quarter, compared to $2,043.84 in the previous year. The company's gross profit margin also improved, rising from 50.2% to 57.8% for the three-month period and from 49.2% to 54.8% for the six-month period.

The company’s operating income for the second quarter was $2.5 million, reflecting a 20.1% increase from $2.1 million in the same quarter of 2024. However, for the six-month period, operating income decreased by 7.5% to $3.9 million, primarily due to increased exploration expenses, which rose significantly as the company ramped up drilling activities. Net income for the quarter was reported at $2.7 million, a 28.3% increase from $2.1 million in the prior year, while net income for the six-month period was $4.3 million, a slight increase of 1.0% compared to $4.3 million in 2024.

Operationally, Idaho Strategic Resources has made strides in its exploration and production activities. The company mined approximately 10,240 tonnes of ore from underground stopes at the Golden Chest Mine during the quarter, with a flotation feed head grade of 9.97 grams per tonne of gold and a recovery rate of 92.6%. The company also completed significant development work, including 92 meters of underground development and the construction of a tailings filtration circuit at the New Jersey Mill. Additionally, the company has expanded its exploration efforts, completing 2,176 meters of drilling at the Golden Chest and initiating a core drilling program at the Eastern Star project.

In terms of financial position, Idaho Strategic Resources reported total assets of $57.7 million as of June 30, 2025, up from $44 million at the end of 2024. The company’s cash and cash equivalents increased to $2.4 million, compared to $1.1 million at the end of the previous year. The company also raised $6.2 million through the sale of common stock during the first half of 2025. Looking ahead, Idaho Strategic Resources plans to continue investing in exploration and production, particularly in its gold and rare earth element projects, while managing operational costs and maintaining profitability. The company remains optimistic about its ability to generate positive cash flow and meet its financial obligations in the coming year.