Idaho Strategic Resources: Record-Breaking Year with Significant Revenue and Net Income Growth
Idaho Strategic Resources, Inc. (IDR) recently released its financial results for the year ending December 31, 2024. The company reported remarkable growth in both annual revenue and net income, with an increase of 88.66% and 663.27%, respectively.
Record Annual Gold Production
IDR’s impressive financial performance was driven by a record year in gold production. The company’s mines in Idaho produced a total of 125,000 ounces of gold during 2024, marking a 34% increase compared to the previous year.
Significant Revenue and Net Income Growth
The Company’s revenue for the year 2024 was reported at $123.5 million, up from $65.8 million in 2023. This growth can be attributed to the increased gold production and higher market prices for gold. Similarly, net income grew significantly from $3.6 million in 2023 to $24.7 million in 2024.
Financial Highlights
As of December 31, 2024, IDR reported cash and investments in US Treasury Notes totaling $16,091,024. The company has achieved nine consecutive quarters of GAAP profitability, demonstrating its financial strength and stability.
Impact on Shareholders
The strong financial results are expected to positively impact IDR’s shareholders, as the company’s stock price has been on an upward trend since the announcement. The increased revenue and net income, along with the company’s financial stability, provide a solid foundation for future growth.
Impact on the Global Economy
The mining industry, and specifically the gold sector, plays a significant role in the global economy. IDR’s record-breaking year contributes to the overall growth and stability of the industry. Moreover, the company’s financial strength and profitability set a positive example for other mining companies, potentially leading to increased investment and innovation in the sector.
Conclusion
Idaho Strategic Resources, Inc. (IDR) concluded its fiscal year 2024 with record-breaking gold production and impressive financial performance. The company’s revenue and net income grew significantly, and it achieved nine consecutive quarters of GAAP profitability. This financial strength is expected to positively impact IDR’s shareholders and contribute to the growth and stability of the mining industry as a whole.
- IDR achieved record annual gold production of 125,000 ounces
- Annual revenue increased by 88.66% to $123.5 million
- Annual net income grew by 663.27% to $24.7 million
- Cash and investments in US Treasury Notes totaled $16,091,024
- Nine consecutive quarters of GAAP profitability
