$IDR

NEW JERSEY MINING CO

CIK:0001030192|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue:
Sales of products, net	$ 10,732,335	$ 9,476,739	$ 25,214,621	$ 16,755,275
Total revenue	10,732,335	9,476,739	25,214,621	16,755,275
Costs of Sales:
Cost of sales and other direct production costs	3,854,967	3,459,215	8,058,570	6,490,044
Depreciation and amortization	845,640	541,738	1,559,425	1,091,359
Total costs of sales	4,700,607	4,000,953	9,617,995	7,581,403
Gross profit	6,031,728	5,475,786	15,596,626	9,173,872
Other operating expenses:
Exploration	1,730,879	2,244,761	3,120,228	3,616,194
Management	243,785	268,214	433,428	532,959
Professional services	98,520	153,260	279,871	336,998
General and administrative	295,640	223,735	518,667	460,753
(Gain) loss on sale of equipment	0	68,942	(632)	308,840
Total other operating expenses	2,368,824	2,958,912	4,351,562	5,255,744
Operating income	3,662,904	2,516,874	11,245,064	3,918,128
Other (income) expense:
Equity (income) loss on investment in Buckskin Gold and Silver, Inc	(1,245)	159	(1,077)	(1,187)
Loss on investment in equity securities and mutual funds	0	0	304,241	0
Timber revenue net of costs	0	(2,848)	(3,209)	(6,704)
Dividend income	(13,233)	0	(68,765)	0
Interest income	(677,372)	(220,409)	(1,069,390)	(405,804)
Total other income	(691,850)	(223,098)	(838,200)	(413,695)
Income before income taxes	4,354,754	2,739,972	12,083,264	4,331,823
Income tax provision	726,914	0	2,086,234	0
Net income	3,627,840	2,739,972	9,997,030	4,331,823
Net loss attributable to non-controlling interest	(23,756)	(27,486)	(42,558)	(44,614)
Net income attributable to Idaho Strategic Resources, Inc	$ 3,651,596	$ 2,767,458	$ 10,039,588	$ 4,376,437
Net income per common share-basic	$ 0.23	$ 0.20	$ 0.64	$ 0.32
Weighted average common share outstanding-basic	15,813,075	14,007,582	15,804,123	13,837,894
Net income per common share-diluted	$ 0.23	$ 0.20	$ 0.63	$ 0.31
Weighted average common shares outstanding-diluted	15,983,254	14,134,531	15,979,299	13,939,790

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 9,997,030	$ 4,331,823
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,559,425	1,091,359
(Gain) loss on sale of equipment	(632)	308,840
Accretion of asset retirement obligation	10,530	9,855
Loss on investment in equity securities and mutual funds	304,241	0
Equity (income) loss on investment in Buckskin Gold and Silver, Inc	(1,077)	(1,187)
Stock-based compensation	277,282	990,292
Amortization of (premium) discount on US treasury notes	(253,852)	14,068
Deferred tax provision	1,395,177	0
Change in operating assets and liabilities:
Gold sales receivable	951,113	(1,062,744)
Inventories	(927,558)	(221,069)
Joint venture receivable	1,282	1,784
Other current assets	158,030	12,332
Accounts payable and accrued expenses	416,558	529,780
Accrued payroll and related payroll expenses	130,009	6,435
Income taxes payable	(286,030)	0
Net cash provided by operating activities	13,731,528	6,011,568
Cash flows from investing activities:
Purchases of property, plant, and equipment	(5,799,650)	(2,481,547)
Deposits on equipment	(4,702,572)	(62,600)
Proceeds from sale of equipment	0	90,400
Purchase of mineral property	(1,404,315)	0
Additions to mineral property	(3,613,831)	(1,112,712)
Purchase of US treasury notes	(23,459,474)	(10,524,963)
Maturity of US treasury notes	14,883,000	3,801,000
Proceeds from sale of equity securities	3,912,963	0
Proceeds from sale of mutual funds	3,869,814	0
Purchase of reclamation bond	(101,500)	(81,000)
Net cash used by investing activities	(16,415,565)	(10,371,422)
Cash flows from financing activities:
Proceeds from sale of common stock, net of issuance cost	1,778,817	6,246,713
Proceeds from issuance of common stock for stock options exercised	253,000	0
Principal payments on notes payable	(1,015,690)	(565,087)
Contributions from non-controlling interest	12,807	15,803
Net cash provided by financing activities	1,028,934	5,697,429
Net change in cash and cash equivalents	(1,655,103)	1,337,575
Cash and cash equivalents, beginning of period	9,889,765	1,106,901
Cash and cash equivalents, end of period	8,234,662	2,444,476
Non-cash investing and financing activities:
Deposit on equipment applied to purchase	430,868	194,101
Notes payable for equipment purchase	809,133	2,156,967
Principal payments on notes payable paid by 3rd party	$ 0	$ 44,951

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 8,234,662	$ 9,889,765
Investments in US treasury notes	31,770,865	27,679,881
Investment in equity securities	0	4,129,521
Investment in mutual funds	0	3,957,497
Gold sales receivable	2,961,809	3,912,922
Inventories	1,892,670	965,112
Joint venture receivable	11,478	12,760
Other current assets	641,231	799,261
Total current assets	45,512,715	51,346,719
Property, plant and equipment, net of accumulated depreciation	25,214,243	19,503,962
Mineral properties, net of accumulated amortization	20,531,093	15,742,370
Investments in US treasury notes, non-current	32,391,185	27,651,843
Investment in Buckskin Gold and Silver, Inc.	346,159	345,082
Investment in joint venture	435,000	435,000
Reclamation bonds	456,720	355,220
Deposits	5,130,238	858,534
Total assets	130,017,353	116,238,730
Current liabilities:
Accounts payable and accrued expenses	2,321,147	1,904,589
Accrued payroll and related payroll expenses	539,221	409,212
Notes payable, current portion	831,381	1,029,336
Income taxes payable	48,416	334,446
Total current liabilities	3,740,165	3,677,583
Asset retirement obligations	335,981	325,451
Notes payable, long term	1,293,446	1,302,048
Deferred income tax liabilities	1,486,877	91,700
Total long-term liabilities	3,116,304	1,719,199
Total liabilities	6,856,469	5,396,782
Commitments Note 5	0	0
Stockholders' equity:
Preferred stock, no par value, 1,000,000 shares authorized; no shares issued or outstanding	0	0
Common stock, no par value, 200,000,000 shares authorized; June 30, 2026-15,819,065 and December 31, 2025- 15,705,199 shares issued and outstanding	102,137,120	99,828,021
Retained earnings	18,381,309	8,341,721
Total Idaho Strategic Resources, Inc stockholders' equity	120,518,429	108,169,742
Non-controlling interest	2,642,455	2,672,206
Total stockholders' equity	123,160,884	110,841,948
Total liabilities and stockholders' equity	$ 130,017,353	$ 116,238,730