on Idaho Strategic Resources, Inc. (NASDAQ:IDR)
Idaho Strategic Resources Reports Significant Financial Growth in Q2 2024
Idaho Strategic Resources, Inc. (NYSE American: IDR) reported a remarkable 89.26% increase in revenue for the second quarter of 2024, reaching $6,125,382 compared to $3,236,515 in Q2 2023. The company also saw a staggering 558.30% rise in net income, totaling $2,157,873.
Operational highlights include processing 9,260 ore tonnes and producing 2,903 ounces of gold at an average flotation feed grade of 10.29 gpt. The all-in sustaining cost per ounce increased by 17.66% to $1,319.40.
Gross profit surged by 287.28% to $3,073,425, with earnings per share increasing 466.67% to $0.17. CEO John Swallow praised the efforts of the team and noted ongoing projects, including drilling at Golden Chest and the construction of a paste backfill plant.
In addition to gold production, IDR continues its exploration efforts in rare earth minerals, working with various partners to enhance their understanding of Idaho's mineralogy.
R. E.
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