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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue:        
Sales of products $ 6,125,382 $ 3,236,515 $ 12,024,320 $ 6,578,111
Total revenue 6,125,382 3,236,515 12,024,320 6,578,111
Costs of Sales:        
Cost of sales and other direct production costs 2,596,027 2,099,890 5,154,940 4,247,850
Depreciation and amortization 455,930 343,042 957,718 671,079
Total costs of sales 3,051,957 2,442,932 6,112,658 4,918,929
Gross profit 3,073,425 793,583 5,911,662 1,659,182
Other operating expenses:        
Exploration 620,056 207,369 887,904 480,811
Management 90,313 55,568 199,413 124,479
Professional services 84,982 123,238 239,226 364,043
General and administrative 179,456 123,765 340,119 387,063
(Gain) loss on disposal of equipment 3,022 (6,344) 7,431 (224)
Total other operating expenses 977,829 503,596 1,674,093 1,356,172
Operating income 2,095,596 289,987 4,237,569 303,010
Other (income) expense:        
Equity (income) loss on investment in Buckskin Gold and Silver, Inc 1,589 (1,007) (278) (1,357)
Timber revenue net of costs (6,049) 0 (19,406) (20,724)
Loss on investment in equity securities 0 2,880 453 2,880
Gain on short term investments (21,862) 0 (21,862) 0
Interest income (38,606) (18,756) (58,241) (37,693)
Interest expense 25,602 11,048 46,167 19,896
Total other (income) expense (39,326) (5,835) (53,167) (36,998)
Net income 2,134,922 295,822 4,290,736 340,008
Net loss attributable to non-controlling interest (22,951) (31,971) (38,246) (48,384)
Net income attributable to Idaho Strategic Resources, Inc. $ 2,157,873 $ 327,793 $ 4,328,982 $ 388,392
Net income per common share-basic $ 0.17 $ 0.03 $ 0.34 $ 0.03
Weighted average common share outstanding-basic 12,836,205 12,256,523 12,674,789 12,228,844
Net income per common share-diluted $ 0.17 $ 0.03 $ 0.34 $ 0.03
Weighted average common shares outstanding- diluted 13,043,026 12,259,438 12,904,998 12,232,638