Idaho Strategic Resources (NYSEMKT: IDR) has a leg up on many other U.S. rare-earth-metal miners, because it is already a profitable gold-mining company that also has substantial rare-earth deposits.
It had already identified rare-earth deposits at its Lemhi Pass and Mineral Hill mines
On July 23, it announced that it had discovered significant heavy rare-earth-element mineralization, including the increasingly important element yttrium, at its Diamond Creek project. Yttrium has unique magnetic, optical, and thermal properties that make it crucial across several high-tech industries. Here are three reasons why the mining stock is a good buy-and-hold stock for the next decade.
Profitable gold production funds its growth Unlike speculative junior miners that rely heavily on equity dilution, Idaho Strategic is an established, profitable gold producer. Centered on its flagship Golden Chest Mine in Idaho, the largest gold-producing mine in the state, the company uses steady cash flow from active operations to fund ongoing mine development and exploration projects. This organic model has yielded impressive financial results, including consecutive years of double-digit revenue growth and record net income.