- Idaho Strategic Resources (IDR, Financial) reports record Q1 2025 revenue of $7.28 million, a 23.39% increase year-over-year.
- Gold production decreased by 6.93% to 2,900 ounces despite higher realized gold prices.
- Net income fell by 25.89% to $1.61 million due to increased exploration investments and expenses.
Idaho Strategic Resources, Inc. (IDR) achieved a record quarterly revenue of $7.28 million in Q1 2025, representing a 23.39% increase compared to the same period in the previous year. This growth was primarily propelled by a 44.73% surge in the average realized gold price, which rose to $2,848.74 per ounce. Despite this revenue increase, the company's gold production declined by 6.93%, totaling 2,900 ounces with an average flotation feed grade of 8.67 grams per tonne (gpt).
Net income for Idaho Strategic Resources decreased by 25.89% to $1.61 million, translating to earnings per share (EPS) of $0.12. This decline in net income was largely attributed to a significant increase in exploration investments and expenses, which rose five-fold to $1.37 million compared to $267,848 in the previous year. Additionally, the company reported a non-cash stock option expense of $495,146 and a one-time equipment exchange loss of $239,898.
Idaho Strategic Resources' strategic focus on exploration was evident as they completed 4,230 meters of drilling at Golden Chest Mine, aligned with their production-backed exploration business plan. The company also reported an increase in all-in sustaining costs by 21.98% to $1,430.90 per ounce, while maintaining stable base cash costs at $846.22 per ounce.
The company holds a strong cash position with $16.38 million in cash and US treasury notes, providing substantial liquidity for continued exploration and expansion activities. However, notes payable have increased to $3.67 million, reflecting the added leverage to support their exploration initiatives and gold production operations in 2025.
