Idaho Strategic Resources delivered a sharp step-up in 2025, with annual revenue rising 64.6% to a record $42.4 million from $25.8 million a year earlier.
Gross profit more than doubled to $26.2 million from $13.0 million, up 102.4%. Net income attributable to the company climbed 89.2% to $16.7 million from $8.8 million. Diluted earnings per share increased 70.1% to $1.14 from $0.67.
On the operating side, ore tonnes processed edged up 1.7% to 41,840 from 41,140. Average flotation feed grade improved 4.9% to 10.14 grams per tonne from 9.67 grams per tonne. Gold output rose 5.2% to 12,538 ounces from 11,915 ounces.
Costs moved higher as well. Total cost of sales increased 26.4% to $16.2 million from $12.8 million. All-in sustaining cost per ounce rose 28.3% to $1,891.79 from $1,474.05. Excluding exploration expenses, adjusted all-in sustaining costs increased to $1,494.75 from $1,256.16.
The company ended the year with $73.3 million in cash and investments.
At the mine, Idaho Strategic said it completed 19,162 meters of core drilling in 2025, with about half of that focused on converting Paymaster mineral resources into mineral reserves. That work helped drive a 53.2% increase in proven and probable reserves at the Golden Chest mine.
The company also reported a 25-meter vein strike intercept at the Jumbo vein with an average thickness of 0.52 meters and a gold grade of 85 grams per tonne.
On the rare earths side, Idaho Strategic said it secured a long-term lease covering about 1,500 acres of mineral claims and reported surface samples at the Cardinal prospect exceeding 17.6% total rare earth oxides. At Lucky Horseshoe, initial outcrop samples assayed up to 6.14% total rare earth oxides, with 65% magnet rare earth oxides and 11% heavy rare earth oxides. Today the company's shares have moved -4.15% to a price of $44.36. For the full picture, make sure to review Idaho Strategic Resources's 8-K report.
