8-K
filed February 13, 2024, 6:59 PM ET
ticker IDR
CIK 0001030192
M&A
confidence high
sentiment positive
materiality 0.75
Idaho Strategic Resources, Inc. (IDR): M&A transaction — Idaho Strategic purchases Butte Gulch claims for $1M; terminates 2% NSR; plans paste backfill
Idaho Strategic Resources, Inc.
- Purchased 169-acre Butte Gulch property adjacent to Golden Chest for $1M: $350K down, $650K note at 5% over 3 years.
- Terminated 2% NSR royalty on Butte Gulch subsurface minerals previously held by Bell Run.
- Plans to install paste backfill system at Golden Chest; expects savings of ~$20/tonne or $500k-$800k annually.
- Butte Gulch acquisition consolidates surface and mineral rights; provides site for future mill expansion.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Idaho Strategic Resources, Inc. incurred loan of Six Hundred and Fifty Thousand Dollars ($650,000) with Bell Run Properties, L.L.C. at 5% maturing February 8, 2027.
- Instrument
- loan
- Principal
- Six Hundred and Fifty Thousand Dollars ($650,000)
- Counterparty
- Bell Run Properties, L.L.C.
- Rate
- 5%
- Maturity
- February 8, 2027
- Event
- incurrence
Exact text from the filing
On February 8, 2024, the Company entered into a promissory note (the "Note") in the principal amount of Six Hundred and Fifty Thousand Dollars ($650,000) at an interest rate of 5% to be paid to Bell Run.
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Idaho Strategic Resources, Inc. completed an acquisition involving Bell Run Properties, L.L.C. for One Million Dollars ($1,000,000).
- Action
- acquisition
- Counterparty
- Bell Run Properties, L.L.C.
- Consideration
- One Million Dollars ($1,000,000)
Exact text from the filing
the Company acquired the surface and alluvial deposits of the Butte Gulch Claims from Bell Run for One Million Dollars ($1,000,000)
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Idaho Strategic Resources, Inc. entered into Purchase and Sale Agreement with Bell Run Properties, L.L.C. valued at $1,000,000 (effective 2024-02-08).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- Bell Run Properties, L.L.C.
- Value
- $1,000,000
- Effective
- 2024-02-08
Exact text from the filing
On February 8, 2024, Idaho Strategic Resources, Inc. (the “Company”) executed and entered into a Purchase and Sale Agreement (the “Agreement”), a promissory note (“Note”), a Mortgage (“Mortgage”), and a Termination of Royalty Deed (“Royalty Termination”) with Bell Run Properties, L.L.C. (the “Bell Run”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Idaho Strategic Resources, Inc. entered into Note with Bell Run Properties, L.L.C. valued at $650,000 (effective 2024-02-08).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Bell Run Properties, L.L.C.
- Value
- $650,000
- Effective
- 2024-02-08
Exact text from the filing
The remaining balance of the purchase price was financed by Bell Run pursuant to the Note in the amount of Six Hundred and Fifty Thousand Dollars ($650,000), which amount was secured by the Mortgage.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Idaho Strategic Resources, Inc. terminated Royalty Deed with Bell Run Properties, L.L.C. (effective 2024-02-08).
- Action
- termination
- Counterparty
- Bell Run Properties, L.L.C.
- Effective
- 2024-02-08
Exact text from the filing
Simultaneously with the closing of the Agreement on February 8, 2024, the Company and Bell Run terminated the Royalty Deed between the Company (formerly known as New Jersey Mining Company) and West Materials, Inc., entered into on May 2, 2018 (the “Royalty Deed”) and subsequently assigned to Bell Run on June 10, 2019.
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.