Fortitude Gold Reports First Quarter 2025 Preliminary Gold Production, Announces Isabella Pearl Pit Layback For Deeper Mining, And Modification To Monthly Dividend
Fortitude Gold (OTCQB:FTCO) reported preliminary Q1 2025 gold production of 1,780 ounces, sourced from lower grade ore at the Civic Cat portion of Isabella Pearl mine and residual leach operations.
The company announced a significant reduction in its monthly dividend from $0.04 to $0.01 per share starting May 2025, citing the need for cash conservation amid permit delays for the County Line project and capital allocation for deeper mining operations.
Following analysis of a newly identified oxide gold mineralization zone trending southeast deep in the Isabella Pearl pit, the company plans a pit wall layback and modified ramp construction. This 6-month capital investment project is expected to extend mine operations into H1 2026, targeting a previously unexploited gold zone now viable due to increased gold prices.
Fortitude Gold (OTCQB:FTCO) ha riportato una produzione preliminare di oro nel primo trimestre 2025 pari a 1.780 once, provenienti da minerale di qualità inferiore nella zona Civic Cat della miniera Isabella Pearl e da operazioni residue di lisciviazione.
L'azienda ha annunciato una significativa riduzione del dividendo mensile da 0,04$ a 0,01$ per azione a partire da maggio 2025, motivando la decisione con la necessità di conservare liquidità a causa dei ritardi nei permessi per il progetto County Line e per l’allocazione di capitale verso operazioni di estrazione più profonde.
Dopo l’analisi di una nuova zona di mineralizzazione di oro ossidato individuata in profondità nel lato sud-est della cava Isabella Pearl, la società prevede un arretramento della parete della cava e una modifica nella costruzione della rampa. Questo progetto di investimento di capitale della durata di 6 mesi dovrebbe estendere le operazioni minerarie fino al primo semestre 2026, puntando a una zona aurifera precedentemente inesplorata, ora redditizia grazie all’aumento del prezzo dell’oro.
Fortitude Gold (OTCQB:FTCO) reportó una producción preliminar de oro en el primer trimestre de 2025 de 1,780 onzas, provenientes de mineral de menor ley en la sección Civic Cat de la mina Isabella Pearl y de operaciones residuales de lixiviación.
La empresa anunció una reducción significativa en su dividendo mensual, de
Tras el análisis de una nueva zona de mineralización de oro óxido identificada al sureste y en profundidad en la mina Isabella Pearl, la compañía planea un retroceso de la pared de la mina y una modificación en la construcción de la rampa. Este proyecto de inversión de capital de 6 meses se espera que extienda las operaciones mineras hasta el primer semestre de 2026, apuntando a una zona de oro previamente no explotada, ahora viable debido al aumento en los precios del oro.
Fortitude Gold (OTCQB:FTCO)는 2025년 1분기 예비 금 생산량으로 1,780온스를 보고했으며, 이는 Isabella Pearl 광산의 Civic Cat 구역에서 등급이 낮은 광석과 잔류 침출 작업에서 나온 것입니다.
회사는 2025년 5월부터 월 배당금을 주당 0.04달러에서 0.01달러로 크게 줄인다고 발표했으며, 이는 County Line 프로젝트 허가 지연과 심층 채굴 작업을 위한 자본 배분에 따른 현금 보존 필요성 때문이라고 밝혔습니다.
Isabella Pearl 광산의 남동쪽 깊은 곳에서 새로 확인된 산화 금 광화대 분석 후, 회사는 갱벽 후퇴 및 경사로 수정 공사를 계획하고 있습니다. 이 6개월간의 자본 투자 프로젝트는 금 가격 상승으로 인해 이제 경제성이 생긴 이전에 개발되지 않은 금 매장층을 목표로 하여 2026년 상반기까지 광산 운영을 연장할 것으로 기대됩니다.
Fortitude Gold (OTCQB:FTCO) a annoncé une production préliminaire d’or au premier trimestre 2025 de 1 780 onces, issue de minerais de moindre teneur dans la zone Civic Cat de la mine Isabella Pearl et des opérations résiduelles de lixiviation.
La société a annoncé une réduction significative de son dividende mensuel, passant de 0,04 $ à 0,01 $ par action à partir de mai 2025, invoquant la nécessité de préserver la trésorerie face aux retards d’obtention des permis pour le projet County Line et à l’allocation de capitaux pour des opérations minières plus profondes.
Après analyse d’une nouvelle zone de minéralisation aurifère oxydée identifiée en profondeur et orientée sud-est dans la carrière Isabella Pearl, la société prévoit un recul du front de taille et une modification de la construction de la rampe. Ce projet d’investissement en capital de 6 mois devrait prolonger les opérations minières jusqu’au premier semestre 2026, ciblant une zone aurifère auparavant inexploitable, désormais rentable grâce à la hausse des cours de l’or.
Fortitude Gold (OTCQB:FTCO) meldete eine vorläufige Goldproduktion im ersten Quartal 2025 von 1.780 Unzen, gewonnen aus Erz geringerer Qualität im Civic Cat-Bereich der Isabella Pearl-Mine sowie aus Restlaugenoperationen.
Das Unternehmen kündigte eine deutliche Senkung der monatlichen Dividende von 0,04$ auf 0,01$ pro Aktie ab Mai 2025 an, mit der Begründung, dass aufgrund von Genehmigungsverzögerungen beim County Line-Projekt und der Kapitalallokation für tiefere Bergbauarbeiten eine Liquiditätserhaltung erforderlich sei.
Nach der Analyse einer neu identifizierten oxidischen Goldmineralisierungszone, die sich tief im Südostbereich der Isabella Pearl-Grube erstreckt, plant das Unternehmen einen Rückbau der Grubenwand und eine modifizierte Rampenkonstruktion. Dieses 6-monatige Investitionsprojekt soll den Bergbaubetrieb bis ins erste Halbjahr 2026 verlängern und zielt auf eine zuvor unerschlossene Goldzone ab, die durch gestiegene Goldpreise nun wirtschaftlich nutzbar ist.
- New gold mineralization zone identified at Isabella Pearl pit, extending mine life into H1 2026
- Strong cash and cash equivalent balance reported at end of Q1 2025
- Higher gold prices make previously uneconomic zones viable for mining
- Monthly dividend reduced by 75% from $0.04 to $0.01 per share
- Low Q1 2025 gold production of 1,780 ounces from lower grade ore
- Permit delays affecting County Line project development
- Additional capital investment required for pit layback and ramp construction
- Variable and challenging to forecast residual leaching production
COLORADO SPRINGS, COLORADO / ACCESS Newswire / April 15, 2025 / Fortitude Gold Corp. (OTCQB:FTCO) (the "Company") today announced preliminary first quarter gold production of 1,780 ounces. The Company also announced a modification to its monthly dividend from
First quarter gold production of 1,780 ounces was a combination of mining of lower grade ore from the Civic Cat portion of the Isabella Pearl mine and residual leach during the quarter.
The Company's management recently completed an analysis of the potential to develop and mine a mineralized gold zone trending southeast deep from the bottom of the Isabella Pearl pit. To access this oxide gold mineralization, construction of a modified pit ramp and a southeast pit wall layback is required. This opportunity requires both a capital and time investment over approximately six months to reach the top of the mineralized zone and is estimated to extend mine operations into the first half of 2026. This area of the Isabella Pearl deposit lies outside of the Company's original reserve and was previously not targeted for gold extraction; however, the significant recent increase in the gold price has given the Company an opportunity to extract this gold zone located within the permitted pit. The Company has begun operations to access this deep gold mineralization and is advancing both the modified access ramp and pit layback.
"While we are ready and anxious for the Trump Administration to fully address and rectify the permit backlog created by the past Biden Administration, Biden's legacy of anti-resources unfortunately continues to weigh on our Company's original business plan by prohibiting and delaying the layering of multiple mining operations and associated production on top of one another," stated Mr. Jason Reid, CEO and President of Fortitude Gold. "Although we are confident we will receive our County Line project permits under Trump's pro-business and pro-resource Administration, it is unknown how long it will take the new Administration to unravel the legacy permit backlog which elevates the need for the Company to conserve cash at this time."
Mr. Reid continued, "The Company ended the first quarter of 2025 with a strong cash and cash equivalent balance, but both the Isabella Pearl pit wall layback and the legacy permit backlog delays impacting our County Line project require strategic deployment of capital. While gold production continues from our Isabella Pearl's heap leach pad, residual leaching is variable and challenging to forecast. These drivers necessitate the decrease in monthly dividends to shareholders. We continue to defensively position the Company to overcome the challenges created by the prior Biden Administration while targeting to offensively position the Company to permit and build our next mines.
About Fortitude Gold Corp.:
Fortitude Gold is a U.S. based gold producer targeting projects with low operating costs, high margins, and strong returns on capital. The Company's strategy is to grow organically, remain debt-free, and distribute substantial dividends. The Company's Nevada Mining Unit consists of seven high-grade gold properties located in the Walker Lane Mineral Belt and an eighth high-grade gold property in west central Nevada. The Isabella Pearl gold mine, located on the Isabella Pearl mineralized trend, is currently in production. Nevada, U.S.A. is among the world's premier mining friendly jurisdictions.
Cautionary Statements: This press release contains forward-looking statements that involve risks and uncertainties. If you are risk-averse you should NOT buy shares in Fortitude Gold Corp. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "plan", "target", "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding the Company's strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material are forward-looking statements. All forward-looking statements in this press release are based upon information available to the Company on the date of this press release, and the Company assumes no obligation to update any such forward-looking statements. Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release.
Contact:
Greg Patterson
719-717-9825
greg.patterson@fortitudegold.com
www.Fortitudegold.com
SOURCE: Fortitude Gold Corp
View the original press release on ACCESS Newswire
FAQ
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Why did Fortitude Gold (FTCO) reduce its monthly dividend in May 2025?
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How will the Isabella Pearl pit layback affect FTCO's mining operations?
