Idaho Strategic Resources, Inc. reported significant financial growth in its latest 10-Q filing for the third quarter of 2025, with total revenue reaching $11.1 million for the three-month period ending September 30, 2025, an increase of 80.1% compared to $6.2 million in the same period of 2024. For the nine-month period, revenue rose to $27.8 million, up 53.1% from $18.2 million in the prior year. The increase in revenue was primarily attributed to a higher average gold price realized on ounces sold, which was $3,578.07 for the third quarter, compared to $2,411.16 in the same quarter of the previous year. The company's gross profit margin also improved, with gross profit as a percentage of sales increasing from 48.7% to 63.6% year-over-year for the three-month period.
The company’s net income for the third quarter was $2.96 million, reflecting an 88.4% increase from $1.57 million in the same quarter of 2024. For the nine-month period, net income was $7.29 million, a 24.4% increase from $5.86 million in the prior year. This growth in profitability was supported by increased revenues, which offset planned increases in exploration expenses. Operating income for the third quarter also saw a substantial rise, increasing by 80.2% to $2.59 million, while the nine-month operating income rose 14.7% to $6.51 million.
Operationally, Idaho Strategic Resources has made strides in its exploration and production activities. The company reported that it mined approximately 10,570 tonnes of ore from underground stopes at the Golden Chest Mine during the quarter. Additionally, the company has been actively engaged in exploration for rare earth elements (REEs), with notable discoveries at the Lucky Horseshoe and Cardinal prospects, where initial samples showed strong REE mineralization. The company has also initiated a large-scale geophysics program across its REE projects, which is expected to enhance its exploration efforts.
The company’s balance sheet reflects a strong financial position, with total assets increasing to $83.11 million as of September 30, 2025, compared to $44.02 million at the end of 2024. Cash and cash equivalents rose to $3.78 million, up from $1.11 million, while investments in U.S. Treasury notes increased significantly to $41.42 million from $14.98 million. Stockholders' equity also saw a substantial increase, reaching $76.95 million, compared to $40.41 million at the end of the previous fiscal year. The company’s strategic focus on expanding its gold production and REE exploration is expected to continue driving growth, with management expressing confidence in the company’s ability to generate positive cash flow and meet its operational goals in the coming year.
About Idaho Strategic Resources, Inc.
Idaho Strategic Resources, Inc. is a mining company focused on gold production and exploration in Idaho. It operates the Golden Chest Mine and owns significant rare earth element properties. The company provides mineral extraction, processing, and development services, leveraging established infrastructure and land holdings. Its core value lies in its diversified resource portfolio, targeting domestic precious and strategic metals markets through exploration, mining, and mineral processing activities.
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