Past year: ▼ 20%(26.35 – 43.07 USD)
Each one in plain English, with the numbers worked through for a shareholder.
28 Jan 2016debt financing▲ GoodMajor
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.
6 Jan 2016material agreement● Neutral
Granted 1.5 million stock options to directors Delbert Steiner, John Swallow and Grant Brackebusch as compensation, exercisable at $0.10/share.
4 Dec 2015asset acquisition disposition▲ GoodMajor
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.
13 Oct 2015material agreement▲ GoodMajor
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.
21 Sept 2015material agreement termination▼ BadMajor
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.
4 Mar 2015material agreement▲ GoodMajor
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.
25 Aug 2014capital raising announcement● Neutral
Settled a $1.2 million private placement (6 million units at $0.20), placed through GVC Capital, which would go on to arrange the larger 2016 Golden Chest restart financings.
What it means for a shareholder
6.0m new shares at US$0.200 to raise about US$1.2m. That's 6.2% dilution: every existing holder's slice gets 6.2% smaller. If you held US$1,000 of shares (5,000 at the issue price), your slice goes from 0.00555% to 0.0052% of the company. To keep it you'd need 333 more shares - about US$67 at the issue price.
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16 May 2013listing compliance notice▼ BadMajor
Idaho Strategic Resources, Inc. deregistered its securities, ending its obligation to file reports with the SEC.
27 Dec 2011asset acquisition disposition▲ Good
Finally sold the Silver Strand mine outright, this time to Shoshone Silver/Gold Mining Company for $1 million ($121,000 cash plus a 20% net-profits interest on the balance), succeeding where the 2008 Silverstar deal had fallen through.
19 Apr 2011material agreement termination▼ BadMajor
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.
20 Dec 2010asset acquisition disposition▲ GoodMajor
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.
15 Mar 2010capital raising announcement● Neutral
Raised $529,500 (3.1 million units at $0.17), paying agents a 10% placement fee.
What it means for a shareholder
3.1m new shares at US$0.170 to raise about US$529,500. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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5 Aug 2008material agreement termination▼ Bad
The Silverstar Mining joint venture on the Silver Strand mine collapsed: Silverstar could not pay the remaining $230,000 plus reclamation costs it owed and forfeited the $270,000 already paid. The company disclosed that its own VP, Grant Brackebusch, was also a Silverstar director.
11 July 2008material agreement▲ Good
Agreed to sell a 50% interest in its Silver Strand mine to Silverstar Mining Corp for $500,000, with the company remaining manager of the resulting joint venture. Silverstar had paid $270,000 of the total upfront.
15 May 2008capital raising announcement▲ Good
Brought in $1.74 million as shareholders exercised 4.35 million warrants at $0.40 - existing investors converting options into shares rather than a new dilutive raise.
25 Mar 2008material agreement▲ GoodMajor
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.
11 Feb 2008joint venture update▲ GoodMajor
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.
13 Feb 2007capital raising announcement● Neutral
Raised roughly $1.07 million more (2.68 million units at $0.40).
What it means for a shareholder
2.7m new shares at US$0.400 to raise about US$1.1m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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6 Dec 2006material agreement● Neutral
Signed an exploration agreement with an option to convert to a full mining lease with Revett Metals Associates over the Niagara copper-silver deposit near Murray, Idaho, paying a small upfront fee in cash and stock with annual payments to keep the option alive.
25 May 2006asset acquisition disposition● Neutral
Sold its royalty interest in the small, long-dormant CAMP exploration project to Sterling Mining Company for $120,000 in cash, exiting a non-core asset with no production history since 1982.
13 Apr 2006capital raising announcement▲ Good
Raised $1.32 million in a private placement (4.4 million units at $0.30) with no broker commissions - a notably larger raise than its earlier rounds.
What it means for a shareholder
4.4m new shares at US$0.300 to raise about US$1.3m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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17 Dec 2004material agreement▲ GoodMajor
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.
19 Feb 2004capital raising announcement● Neutral
Closed a roughly $691,000 private placement (1,727,500 units at $0.40), continuing to fund exploration.
What it means for a shareholder
1.7m new shares at US$0.400 to raise about US$691,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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2 Feb 2004auditor change● Neutral
An amended refiling of the December 2003 auditor-change disclosure; the text is identical to the original 8-K and adds no new information.
15 Dec 2003auditor change▼ Bad
New Jersey Mining Company (now Idaho Strategic Resources) dismissed its accountant Nathan Wendt and hired DeCoria, Maichel & Teague as auditor. Wendt's prior reports had flagged going-concern doubt, though there were no disputes over the numbers.
28 May 2002capital raising announcement▲ Good
Closed a $229,500 private placement (1.7 million units at $0.15) to fund exploration drilling at the New Jersey mine, Lost Eagle project and Silver Strand mine.
What it means for a shareholder
1.7m new shares at US$0.150 to raise about US$229,500. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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