Idaho Strategic Resources, Inc.

Bought out Bell Run Properties' surface and mineral rights on seven patented claims adjoining Golden Chest ('Butte Gulch') for $1 million, financed partly by a seller note, while simultaneously extinguishing a 2% royalty and right-of-refusal a predecessor owner had held over the ground since 2018 - achieving full, unencumbered ownership as it continues consolidating the Murray Gold Belt.

asset acquisition disposition

Withdrew its unsolicited proposal to acquire critical-minerals company Westwater Resources for $1.36/share (a 73% premium) after Westwater's board refused to engage, ending Idaho Strategic's attempt to expand into rare-earth elements via acquisition.

business combination

Set up an at-the-market equity sales facility with Roth Capital Partners to sell up to $10 million of stock over time as needed. Now trading as Idaho Strategic Resources on NYSE American under ticker IDR, reflecting the company's rebrand and uplisting from the OTC market since its Golden Chest turnaround.

material agreement

the exchange certified Idaho Strategic Resources, Inc.'s securities for listing, clearing them to begin trading.

listing compliance notice

Raised $2.7 million (at $7.50/share) to roughly double the Diamond Creek rare-earth drill program and fund underground development of the Klondike area at Golden Chest, which management expects could double the mine's production.

capital raising announcement

Raised $1.98 million to fund a 10-hole drill program at the Diamond Creek rare-earth-element property and equipment upgrades at Golden Chest - the earliest cached mention of the company's rare-earth-element exploration effort.

capital raising announcement

Bought 508 acres of patented claims (McComber Gulch, aka "Ward Land West") in Shoshone County for $1.699 million, funded by $1.75 million in new 8%-interest convertible notes from eleven investors maturing in three years - continuing the same land-plus-debt pattern as the 2020 Ward Land purchase.

debt financing

Raised $2.72 million from 19 investors at $0.28/unit, earmarked to accelerate drilling and underground development aimed at growing Golden Chest production over the next 12-18 months - a step up in scale from prior raises.

capital raising announcement

Bought 368 acres of patented claims near Murray, Idaho ('Ward Land') for $750,000, funded partly with $885,000 raised from nine investors through convertible notes paying 8% interest and convertible into stock at $0.18/share, continuing the buildout of its land position in the Murray Gold Belt around Golden Chest.

debt financing

Sold the Toboggan Project land it had regained for free after Newmont's 2011 exit to Hecla Mining's Silver Valley unit for $3 million, keeping a 2% smelter-return royalty. Hecla also invested $500,000 directly in the company's stock, closing the loop on a district Newmont had walked away from years earlier.

asset acquisition disposition

Hecla Silver Valley invested $500,000 directly in the company's stock (3.85 million shares plus warrants) on the same terms as the recent private placement - the same Hecla unit that would buy the Toboggan Project a month later.

capital raising announcement

Agreed to buy Four Square LLC's mining claims near Murray, Idaho (334 patented acres plus a 348-acre leasehold) for $800,000 in staged stock-and-cash payments through 2020, continuing the Murray Gold Belt land consolidation around Golden Chest. Four Square keeps a 2% smelter-returns royalty, half of which the company can buy back for $1 million.

asset acquisition disposition

Extended the same forward-gold-sale financing to outside investors through placement agent GVC Capital, raising a further $772,806 net to fund the Golden Chest production restart.

debt financing

Raised $467,500 by pre-selling 500 ounces of future Golden Chest gold production to Ophir Holdings, an Idaho entity partly owned by company management, to fund a restart of open-pit mining at Golden Chest.

debt financing

Completed the purchase of Timberline's 50% Butte Highlands interest, becoming co-owner alongside Highland Mining LLC of a project already backed by more than $30 million of outside development funding. The company disclosed that President John Swallow previously chaired Timberline's board and helped negotiate the original Butte Highlands deal.

asset acquisition disposition

Signed a binding letter of intent to buy Timberline Resources' 50% stake in the Butte Highlands joint venture, a high-grade underground gold project in Montana already carried to production by a well-funded partner, for $225,000 plus 3 million shares.

debt financing

Completed the buyout of Marathon Gold's stake, giving the company 100% ownership of the Golden Chest mine, funded by a $550,000 personal loan from President John Swallow at 5% interest. Separately, a lawsuit against the company by Crescent Silver, LLC was dismissed by a federal court.

asset acquisition disposition

One month after Juniper's exit, the company moved to buy out its joint-venture partner Marathon Gold's 52% stake in Golden Chest LLC, signing an option to acquire full ownership of the Golden Chest mine for about $200,000 plus a 2% royalty to Marathon.

material agreement

Juniper Resources abruptly terminated its Golden Chest lease and halted mining, citing poor reserve economics and weak gold prices, forfeiting a $53,841 royalty prepayment and a $125,000 milling advance plus all mine infrastructure back to the company. New leadership under President John Swallow took over just as the mine's most active operator exited.

material agreement termination

Formalized a Strategic Partnership Agreement with Juniper Resources and its affiliates (including Gold Hill Reclamation and Mining), who already leased part of the Golden Chest mine and paid the company for milling services and a smelter-return royalty. New leadership under President R. Patrick Highsmith set the stage for Golden Chest's most productive period yet.

material agreement

Idaho Strategic Resources, Inc. deregistered its securities, ending its obligation to file reports with the SEC.

listing compliance notice

Newmont walked away from the Toboggan Project joint venture after spending nearly $2 million over three field seasons without converting the district into a mine. The company regains full ownership of the roughly 8,000 acres of claims and keeps all of Newmont's exploration data at no cost.

material agreement termination

Formed the Golden Chest LLC joint venture with Marathon Gold (50/50, New Jersey Mining operating) to buy the past-producing Golden Chest mine near Murray, Idaho for $3.75 million - $500,000 cash upfront and the balance in seller-financed annual payments through the mine's seventh year. This is the origin of what becomes the company's flagship, and eventually sole, core asset.

asset acquisition disposition

Finalized the Newmont joint venture term sheet into a definitive Venture Agreement on the same terms: Newmont can earn up to 70% of the Toboggan Project gold district by funding exploration and a feasibility study.

material agreement

Signed a term sheet with Newmont Mining's exploration unit to jointly explore a 38-square-mile gold district north of Murray, Idaho (the Toboggan Project), with Newmont able to earn up to 70% by spending as much as $12 million. One of the world's largest gold miners validating the district was a significant vote of confidence, and the deal excludes the company's core Golden Chest ground.

joint venture update

New Jersey Mining exercised its option to lease the Golden Chest mine near Murray, Idaho, signing exploration/lease deals with two claim owners and issuing 130,000 shares plus royalties up to 6%. This is the origin of what becomes the company's flagship mine; ore from the site was already being processed at the company's mill, with production targeted for early 2005.

material agreement