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Fortitude Gold Corp (FTCO) is a dynamic U.S. based gold producer, developer, and explorer, primarily active in Nevada, one of the world's premier mining jurisdictions. With a strategic focus on projects that promise low operating costs, high margins, and robust returns on capital, Fortitude Gold has carved a niche in the gold mining industry. The Company adopts a unique strategy of organic growth, maintaining a debt-free status and distributing substantial dividends to its shareholders.
The Company's Nevada Mining Unit consists of eight high-grade gold properties, seven of which are located in the Walker Lane Mineral Belt and an eighth in west central Nevada. Notably, the flagship Isabella Pearl gold mine is currently in production, situated on the Isabella Pearl mineralized trend.
Fortitude Gold recently announced significant high-grade gold drill intercepts at its East Camp Douglas lithocap system, underlined by the discovery of an intersection between two faults feeding high-grade gold into the system. High-grade intercepts include 3.05 meters grading 5.57 grams per tonne (g/t) gold within a broader intercept of 12.19 meters grading 2.90 g/t gold. This discovery elevates East Camp Douglas's exploration status, increasing its potential for a significant near-surface gold deposit.
The Company's County Line project continues to show promise with multiple oxide gold drill intercepts at and near surface. The project, located approximately 26 kilometers northwest of the Isabella Pearl mine, is expected to provide ore feed for the Isabella Pearl operation. Recent drill results have added ounces to the County Line resource, with intercepts such as 16.76 meters grading 2.19 g/t gold.
In managerial developments, Fortitude Gold is set to undergo a smooth transition as the Chief Financial Officer, Mr. John Labate, prepares to retire on June 1, 2024. Ms. Janet Turner, the current Corporate Controller, will succeed him, ensuring continuity in the Company's financial strategy.
For the first quarter of 2024, Fortitude Gold reported net sales of $8.2 million, a mine gross profit of $4.2 million, and a cash balance of $41.9 million. The Company produced 3,983 gold ounces during this period, primarily sourced from the Isabella Pearl's lower grade Civit Cat zone.
Fortitude Gold remains committed to expanding its gold production capabilities, with ongoing exploration and development projects aimed at unlocking further value from its Nevada properties. The Company's forward-looking statements highlight the potential for further high-grade gold discoveries and operational expansions, positioning it as a significant player in the gold mining sector.
Fortitude Gold (OTCQB:FTCO) reported multiple oxide gold drill intercepts at the East Pit of its County Line Property in Nevada. Notable results include 12.19 meters grading 1.06 g/t gold, 4.57 meters grading 2.26 g/t gold, and 0.67 meters grading 11.90 g/t gold. The East Pit is located 500 meters southeast of the main County Line historic open pit and 26 kilometers northwest of the Company's Isabella Pearl gold mine. The company plans to process County Line ore at Isabella Pearl's facilities and targets 2025 production, pending Bureau of Land Management permit approval.
Fortitude Gold (OTCQB:FTCO) has declared its monthly dividend of $0.04 per common share for November 2024. The dividend will be paid on November 29, 2024, to shareholders of record as of November 20, 2024. The company operates as a gold producer, developer, and explorer in Nevada, providing investors with exposure to both gold production and dividend yield. The board notes that dividends may vary or be discontinued based on factors including operational cash flows, development requirements, spot gold prices, and market conditions.
Fortitude Gold (OTCQB:FTCO) reported Q3 2024 results with $10.2 million in net sales and $946 thousand net income ($0.04 per share). The company produced 4,220 gold ounces and maintained a strong cash position of $30.3 million. Key financial metrics include $4.8 million mine gross profit, $41.5 million working capital, and $2.9 million in dividends paid. Gold sales averaged $2,441 per ounce with total cash costs of $906 per ounce. The company awaits permit approval for its second mine, the County Line project, while successfully receiving permits to mine deeper in the Pearl zone.
Fortitude Gold has announced its third quarter earnings conference call, scheduled for Wednesday, November 6, 2024, at 11:00 a.m. Eastern Time. CEO Jason Reid will host the call to discuss Q3 results and provide updates on current operations. The conference call will be accessible via webcast and telephone, with two connection options available for participants. Investors should connect 10 minutes before the start time.
The company, a gold producer, developer, and explorer operating in Nevada, will host a Q&A session following the opening remarks. A replay of the conference will be available through both webcast and teleconference options, with specific access codes provided for both domestic and international participants.
Fortitude Gold Corp. (OTCQB:FTCO) has reported preliminary third quarter gold production of 4,220 ounces. The company, which operates in Nevada, U.S.A., processed both residual gold from the heap leach pad and ore from the Isabella Pearl's lower grade Civit Cat zone during this period.
Notably, late in the third quarter of 2024, Fortitude Gold received permit approval to mine deeper in the deposit's higher-grade Pearl zone. This development could potentially impact future production levels.
The company, which offers investors exposure to both gold production and dividend yield, will provide full financial results for the third quarter when it files its quarterly report on Form 10-Q with the Securities and Exchange Commission.
Fortitude Gold Corp. (OTCQB:FTCO) has declared its monthly dividend of $0.04 per common share for October 2024. The dividend is payable on October 31, 2024 to shareholders of record as of October 21, 2024. Fortitude Gold is a gold producer, developer, and explorer with operations in Nevada, U.S.A., offering investors exposure to both gold production and dividend yield.
The company notes that dividends may vary in amount and consistency or be discontinued at the Board of Directors' discretion. Factors influencing dividend decisions include operational cash flows, company development requirements, construction needs, spot gold and silver prices, taxation, and general market conditions.
Fortitude Gold Corp. (OTCQB:FTCO) has received regulatory approvals to mine deeper in its Isabella Pearl deposit in Nevada. The Bureau of Land Management and Nevada Division of Environmental Protection's Bureau of Mining Regulation and Reclamation have granted permission to mine approximately 80 feet deeper than previously authorized in the Pearl portion of the deposit.
This decision allows the company to access deeper oxide and oxide transitional ore in the Pearl zone, which can be mined and processed along with ore from the Civit Cat portion of the Isabella Pearl deposit. The Pearl deep contains high-grade oxide, oxide-transitional, and sulphide gold ores. A portion of the oxide and oxide-transitional ores are expected to be processed using the company's existing heap leach operation.
Fortitude Gold Corp. (OTCQB:FTCO) has declared its monthly dividend of $0.04 per common share for September 2024. The dividend is payable on September 30, 2024 to shareholders of record as of September 19, 2024. Fortitude Gold is a gold producer, developer, and explorer with operations in Nevada, U.S.A., offering investors exposure to both gold production and dividend yield.
The company notes that dividends may vary in amount and consistency or be discontinued at the Board of Directors' discretion. Factors influencing dividend decisions include operational cash flows, company development requirements, spot gold and silver prices, taxation, and general market conditions.
Fortitude Gold Corp. (OTCQB:FTCO) has declared its monthly dividend of $0.04 per common share for August 2024. The dividend is payable on August 30, 2024 to shareholders of record as of August 19, 2024. Fortitude Gold is a gold producer, developer, and explorer with operations in Nevada, U.S.A., offering investors exposure to both gold production and dividend yield.
The company notes that dividends may vary in amount and consistency or be discontinued at the Board of Directors' discretion. Factors affecting dividend decisions include operational cash flows, company development requirements, spot gold and silver prices, taxation, and general market conditions.
Fortitude Gold reported its Q2 2024 financial results, including $9.6 million net sales, $4.3 million exploration expenses, and $2.9 million in dividends. The company produced 4,150 gold ounces and has a $32.9 million cash balance as of June 30, 2024. However, it posted a $0.01 per share net loss and awaits permit approval for deeper mining at the Pearl zone and to commence the County Line project. Realized gold prices averaged $2,341 per ounce, while the total cash cost and all-in sustaining cost per ounce were $782 and $1,013, respectively. The working capital stood at $48.4 million.
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