---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-24-001597"
form_type: "8-K"
ticker: "IDR"
cik: "0001030192"
company_name: "Idaho Strategic Resources, Inc."
filed_at: "2024-02-13T23:59:59+00:00"
generated_at: "2026-06-06T03:02:01.660443+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Idaho Strategic purchases Butte Gulch claims for $1M; terminates 2% NSR; plans paste backfill

## Summary
- 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.

## SEC filing metadata
- accession: 0001654954-24-001597
- form_type: 8-K
- ticker: IDR
- cik: 0001030192
- company_name: Idaho Strategic Resources, Inc.
- filed_at: 2024-02-13T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 1.02, 2.01, 2.03, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1030192/000165495424001597/0001654954-24-001597-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1030192/000165495424001597/njmc_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-24-001597
- JSON: https://secwatch.observer/filing/0001654954-24-001597.json
- Plain text: https://secwatch.observer/filing/0001654954-24-001597.txt

## Key facts
- Debt Financings
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1030192/000165495424001597/0001654954-24-001597-index.htm
- M&A Transactions
  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)
  source text: the Company acquired the surface and alluvial deposits of the Butte Gulch Claims from Bell Run for One Million Dollars ($1,000,000)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1030192/000165495424001597/0001654954-24-001597-index.htm
- Material Agreements
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1030192/000165495424001597/0001654954-24-001597-index.htm
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1030192/000165495424001597/0001654954-24-001597-index.htm
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1030192/000165495424001597/0001654954-24-001597-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.