Idaho Strategic Resources Inc 2025年度报告

FORM 10-K (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission file number: 001-41320 IDAHO STRATEGIC RESOURCES, INC. (Name of small business issuer in its charter) 82-0490295 Idaho(State or other jurisdiction of incorporation or organization)(I.R.S. employer identification No.) 201 N. Third Street, Coeur d’Alene, ID 83814(Address of principal executive offices) (zip code) (208) 625-9001Registrant’s telephone number, including area code SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT: Title of Each Class Name of Each Exchange on WhichRegistered NYSE American Common Stock, No par value Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☒No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes☐No☒ Indicate by check mark whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities ExchangeAct of 1934 during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has beensubject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, everyInteractive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (orfor such shorter period that the registrant was required to submit and post such files). Yes☒No☐ Indicate by check mark if disclosure of delinquent filers in response to Item 405 of Regulation S-K is not contained herein, and nodisclosure will be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated byreference in Part III of this Form 10-K or any amendment to this Form 10-K.☒ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smallerreporting company. See definitions of “large accelerated filer,” “accelerated filer” and “small reporting company” in Rule 12b-2 of theExchange Act. Large accelerated filerNon-accelerated filer If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act☐ Indicate by check mark whether the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act Yes☐No☒ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registeredpublic accounting firm that prepared or issued its audit report. Yes☐No☒ Indicate by check mark whether the filings included in this filing by the registrant as defined in Rule 12b of the Exchange Act includeany corrections of an error to previously issued financial statements Yes☐No☒ Indicate by check mark whether any of those corrections (if any) are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b) Yes☐No☒ The aggregate market value of all common stock held by non-affiliates of the registrant, based on the average of the bid and ask priceson June 30, 2025 was $168,504,500. On March 1, 2026 there were 15,806,301 shares of the registrant’s Common Stock outstanding. TABLE OF CONTENTS FORWARD-LOOKING STATEMENTS3GLOSSARY OF SIGNIFICANT MINING TERMS4PART IITEM 1.DESCRIPTION OF THE BUSINESS6ITEM 1A.RISK FACTORS9ITEM 1B.UNRESOLVED STAFF COMMENTS21ITEM 1C.CYBERSECURITY21ITEM 2.DESCRIPTION OF PROPERTIES22ITEM 3.LEGAL PROCEEDINGS37ITEM 4.MINE SAFETY DISCLOSURES37PART IIITEM 5.MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS38ITEM 6.[RESERVED]39ITEM 7.MANAGEMENT S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS39ITEM 7A.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK42ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA43ITEM 9.CHANGESIN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING ANDFINANCIAL DISCLOSURE62ITEM 9A.CONTROLS AND PROCEDURES62ITEM 9B.OTHER INFORMATION62ITEM 9C.DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INPECTIONS62PART IIIITEM 10.DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE63ITEM 11.EXECUTIVE COMPENSATION66ITEM 12.SECURITYOWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT ANDRELATED STOCKHOLDER MATTERS68ITEM 13.CERTAIN RELATI