Business
Idaho Strategic Resources Provides Record First Quarter Operating and Financial Results
COEUR D'ALENE, ID / ACCESSWIRE / May 15, 2023 / Idaho Strategic Resources, Inc. (NYSE American:IDR) ("IDR", "Idaho Strategic" or the "Company") today announced
About this update from Idaho Strategic Resources, Inc.
[{"type":"text","content":" COEUR D'ALENE, ID / ACCESSWIRE / May 15, 2023 / Idaho Strategic Resources, Inc. (NYSE American:IDR) (\"IDR\", \"Idaho Strategic\" or the \"Company\") today announced its consolidated operating and financial results for the first quarter of 2023 highlighted by $3,341,596 in revenue - a record first quarter and the second-best quarter overall in Company history. Idaho Strategic's President and CEO, John Swallow stated, \"The first quarter of 2023 was another busy time for us. With over a 60% increase in revenue compared to Q1 of 2022, our team delivered record 1st quarter results and the second-best revenue quarter in corporate history (a close 2nd to Q4 of 2022). This is impressive in two ways - IDR has now posted consecutive quarters of revenue greater than $3m, and both of those quarters occurred during the winter months, which are typically the toughest quarters operationally. Regarding the Rare Earth Elements (REE) focus of our business; as alluded to in our recent President's Letter, our approach to the early stage of the REE industry is quite different than that of the better-known commodities. Therefore, the context around REEs is becoming a bit more nuanced than a simple bullet point review of the quarter. During this period of transformation there is a lot of learning/evolving underway amongst the problem solvers - from REE mineralogy and its role in processing, domestic mining to metallization to domestic end products, and environmental responsibility combined with business and long-term economic development. And all of this is occurring within the backdrop of what happens if/when that one headline comes across that quickly changes everything. On a personal note - I recently had the opportunity to attend the 2023 Berkshire Hathaway annual gathering. This was a bucket list item for me, not only to attend the meeting, but to experience it with my two sons. Aside from doing a college paper on Berkshire in the late 1980's, I grew up in a time when Wall Street Week with Louis Rukeyser was highly anticipated. The observations, wit, and wisdom of folks like Sir John Templeton, Peter Drucker, Peter Lynch, and Warren Buffet (among others) were instrumental in my early development and goal setting. And with specific observations aside, if the cooperation and energy of the crowd we experienced at the gathering is any indication, ...