Business
Idaho Strategic Resources Reports Second Quarter 2024 Operating and Financial Performance
Highlighted by an 89.26% Increase in Revenue and a 558.30% Increase in Net Income - IDR's 6-Month Net Income in 2024 is Nearly 4x Last Year's Total Net Income C
About this update from Idaho Strategic Resources, Inc.
[{"type":"text","content":" Highlighted by an 89.26% Increase in Revenue and a 558.30% Increase in Net Income - IDR's 6-Month Net Income in 2024 is Nearly 4x Last Year's Total Net Income COEUR D'ALENE, ID / ACCESSWIRE / July 30, 2024 / Idaho Strategic Resources, Inc. (NYSE American:IDR) (\"IDR\", \"Idaho Strategic\" or the \"Company\") today announced its consolidated operating and financial results for the second quarter ending June 30, 2024. IDR achieved an 89.26% increase in revenue and a 558.30% increase in net income compared to the second quarter of 2023. Key highlights include: Operational Performance: Q2 2024 % Change Q2 2023 Ore Tonnes Processed 9,260 -20.91% % 11,708 Average Flotation Feed Grade (gpt) 10.29 40.77 % 7.31 Ounces Produced 2,903 34.99 % 2,152 All-In Sustaining Cost Per Ounce ($USD) $ 1,319.40 17.66 % $ 1,121.39 Financial Performance ($USD): Q2 2024 % Change Q2 2023 Revenue $ 6,125,382 89.26 % $ 3,236,515 Total Cost of Sales $ 3,051,957 24.93 % $ 2,442,932 Gross Profit $ 3,073,425 287.28 % $ 793,583 Net Income Attributable to IDR $ 2,157,873 558.30 % $ 327,793 Earnings Per Share (EPS) $ 0.17 466.67 % $ 0.03 Idaho Strategic's CEO and President, John Swallow stated, \"Our folks did a great job during the second quarter. We have a lot going on (in addition to daily activities) - underground and surface drilling at the Golden Chest, pad and road construction for the paste backfill plant, power upgrade underway, paste plant structure and equipment ordered, upcoming drill program at Eastern Star in September, added two geologists and seasonal help to our staff, and possibly one or two other items on deck. Not to mention that the macro picture seems to be evolving more and more toward our business plan. In alignment with our discretiona...