Fortitude Gold Reports Fourth Quarter and Full Year 2024 Preliminary Gold Production

Rhea-AI Summary

Fortitude Gold (OTCQB:FTCO) reported preliminary Q4 2024 gold production of 4,119 ounces, bringing the total 2024 production to approximately 16,472 gold ounces from both Isabella Pearl mine operations and residual leach from the Isabella Pearl heap leach pad.

The company's CEO, Jason Reid, highlighted 2024 as a successful year of low-cost gold production and strong shareholder dividends, despite challenges in the resource extractive industries. For 2025, Fortitude Gold plans to target additional mineral opportunities at Isabella Pearl outside the original mine plan, while focusing on the County Line project as their next Nevada mine build, along with the Scarlet expansion at Isabella Pearl trend, and the Golden Mile project.

Positive

• Q4 2024 gold production of 4,119 ounces
• Full year 2024 production reached 16,472 gold ounces
• Low-cost gold production maintained
• Strong shareholder dividends delivered

Negative

• Regulatory challenges and permit backlogs affecting operations

COLORADO SPRINGS, CO / ACCESSWIRE / January 14, 2025 / Fortitude Gold Corp. (OTCQB:FTCO) (the "Company") today announced preliminary fourth quarter production of 4,119 gold ounces. The Company produced approximately 16,472 gold ounces in 2024 from both Isabella Pearl mine operations and residual leach from the Isabella Pearl heap leach pad. 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.

"2024 was another successful year of low-cost gold production and strong shareholder cash dividends for Fortitude Gold, despite the long four challenging years for the resource extractive industries, including permit backlogs, under the Biden Administration," stated Mr. Jason Reid, Fortitude Gold's CEO and President. "We are excited about the next four years under the incoming Trump Administration, who previously demonstrated support for natural resource extraction in the United States, under which our Isabella Peal mine was permitted."

Mr. Reid continued, "For 2025, our mine operations are targeting additional mineral opportunities at Isabella Pearl found outside of the original mine plan. We also remain highly focused on our County Line project, as our next Nevada, U.S.A. mine build, along with the Scarlet expansion at our Isabella Pearl trend, and our Golden Mile project. We will remain focused on obtaining as many mine permits as possible during these next four years."

Full financial results for the fourth quarter and full year 2024 will be available at the time the Company files its annual report on Form 10-K with the Securities and Exchange Commission.

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 Information
Greg Patterson
VP Corporate Development
greg.patterson@fortitudegold.com
719-717-9825

SOURCE: Fortitude Gold Corp

View the original press release on accesswire.com

FAQ

What was Fortitude Gold's (FTCO) gold production in Q4 2024?

Fortitude Gold produced 4,119 gold ounces in Q4 2024.

How many gold ounces did FTCO produce in full-year 2024?

Fortitude Gold produced approximately 16,472 gold ounces in total for 2024.

What are FTCO's main development projects for 2025?

Fortitude Gold is focusing on the County Line project as their next mine build, the Scarlet expansion at Isabella Pearl trend, and the Golden Mile project.

Where are Fortitude Gold's (FTCO) mining operations located?

Fortitude Gold's mining operations are located in Nevada, U.S.A.

What challenges did FTCO face in its mining operations during 2024?

The company faced challenges related to permit backlogs and regulatory issues in the resource extractive industries.