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Cruz Battery Metals Reports 4th Quarter Financial Highlights and 2022 Operating and Financial Performance
COEUR D'ALENE, ID / ACCESSWIRE / March 31, 2023 / Idaho Strategic Resources, Inc. (NYSE American:IDR) ("IDR", "Idaho Strategic" or the "Company") today announce
About this update from Idaho Strategic Resources, Inc.
[{"type":"text","content":" COEUR D'ALENE, ID / ACCESSWIRE / March 31, 2023 / Idaho Strategic Resources, Inc. (NYSE American:IDR) (\"IDR\", \"Idaho Strategic\" or the \"Company\") today announced its consolidated operating and financial results for the year ending December 31, 2022. Including a $603,650 net profit for the 4th quarter of 2022, and a 25.5% increase in revenue with a 218% increase in gross profit in 2022 compared to 2021. Idaho Strategic's CEO and President, John Swallow stated, \"I am proud of the way the IDR team performed throughout 2022. It is typically a humbling exercise to write our year-end press release and look back at what our team was able to accomplish, and 2022 was no exception. This past year has been both an extremely busy year and an energizing one on multiple fronts. We have not only grown our gold production and increased our efficiency at the Golden Chest Mine, but we also acquired and advanced the largest rare earth elements landholdings in the United States. As Idaho Strategic continues to execute its organic growth strategy, we have focused heavily on maintaining our Company culture and scaling our core philosophies. We currently have an effective combination of young energetic team members mixed with steady and experienced leaders that allows IDR to pivot quickly and correctly when needed. This combination of talent is something that we couldn't have developed without leaning on the generational experience of the folks in the Silver Valley and promoting from within the Company. As I look forward to 2023, I believe IDR is well positioned from both a macroeconomic perspective, to benefit from the uncertainty surrounding our global financial system and the U.S.' shift toward decarbonization and domestic supply chain security, and from a microeconomic perspective, with the team we have in place and the continued operational execution at the Golden Chest Mine. We have a lot of interest from folks that want to work at IDR… I am excited to see our operating and financial performance leverage the strong foundation that the team has built in 2022.\" 4th Quarter Financial Highlights: Idaho Strategic realized a net profit for the 4th quarter 2022 of $603,650 compared to a net loss of $1,219,518 for the same period in 2021. Revenue increased 94.5% or $1,667,294, to $3,432,002 in the 4th quarter of 2022, up from $1,764,708 in Q4 2...