Idaho Strategic Resources, Inc. (NYSE:IDR) ("IDR" or the "Company") is pleased to announce that the Company has signed a Memorandum of Understanding ("MOU") with Clean Core Thorium Energy, Inc. ("CCTE") to evaluate the feasibility of thorium mining, processing, and other relevant supply chain steps for CCTE's ANEEL fuel - an advanced nuclear fuel comprised of thorium and high assay low-enriched uranium ("HALEU") for use in pressurized heavy water reactors ("PHWRs").
Idaho Strategic and CCTE believe this MOU to be very complimentary to both companies' business plans and allow each to leverage their respective expertise to advance a "Made in America" supply-chain for thorium-based ANEEL fuel. The two companies share the belief that nuclear power is the logical choice to provide 100% carbon-free baseload power, and that CCTE's thorium-based ANEEL fuel raises the bar even higher given the inherent benefits of thorium as a nuclear fuel source.