Fortitude Gold Reports Third Quarter 2024 Results
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 (OTCQB:FTCO) ha riportato i risultati del terzo trimestre 2024 con 10,2 milioni di dollari in vendite nette e un reddito netto di 946 mila dollari (0,04 dollari per azione). L'azienda ha prodotto 4.220 once d'oro e ha mantenuto una solida posizione di liquidità di 30,3 milioni di dollari. I principali indicatori finanziari includono un utile lordo minerario di 4,8 milioni di dollari, 41,5 milioni di dollari di capitale circolante e 2,9 milioni di dollari in dividendi distribuiti. Le vendite d'oro hanno avuto un prezzo medio di 2.441 dollari per oncia con costi complessivi di cassa di 906 dollari per oncia. L'azienda attende l'approvazione dei permessi per la sua seconda miniera, il progetto County Line, mentre ha ricevuto con successo i permessi per scavare più in profondità nella zona Pearl.
Fortitude Gold (OTCQB:FTCO) informó los resultados del tercer trimestre de 2024 con 10,2 millones de dólares en ventas netas y 946 mil dólares de ingreso neto (0,04 dólares por acción). La empresa produjo 4.220 onzas de oro y mantuvo una sólida posición de efectivo de 30,3 millones de dólares. Las métricas financieras clave incluyen 4,8 millones de dólares de utilidad bruta minera, 41,5 millones de dólares de capital de trabajo y 2,9 millones de dólares en dividendos pagados. Las ventas de oro promediaron 2.441 dólares por onza con costos de efectivo totales de 906 dólares por onza. La empresa está a la espera de la aprobación de permisos para su segunda mina, el proyecto County Line, mientras recibió con éxito permisos para extraer más profundo en la zona Pearl.
Fortitude Gold (OTCQB:FTCO)는 2024년 3분기 실적을 보고하며 1,020만 달러의 순매출과 94만 6천 달러의 순이익(주당 0.04달러)을 기록했습니다. 회사는 4,220 온스의 금을 생산하였고, 3,030만 달러의 강력한 현금 자산을 유지하고 있습니다. 주요 재무 지표로는 480만 달러의 광산 총이익, 4,150만 달러의 운영 자본, 그리고 290만 달러의 배당금 지급이 포함됩니다. 금 판매 평균 가격은 2,441 달러 per 온스였으며, 총 현금 비용은 906 달러 per 온스입니다. 회사는 두 번째 광산인 카운티 라인 프로젝트의 허가 승인을 기다리고 있으며, 펄 지역에서 더 깊이 시추할 수 있는 허가를 성공적으로 받았습니다.
Fortitude Gold (OTCQB:FTCO) a déclaré ses résultats du troisième trimestre 2024, avec 10,2 millions de dollars de ventes nettes et un revenu net de 946 mille dollars (0,04 dollar par action). L'entreprise a produit 4 220 onces d'or et a maintenu une solide position de liquidités de 30,3 millions de dollars. Les principaux indicateurs financiers incluent un bénéfice brut minier de 4,8 millions de dollars, 41,5 millions de dollars de fonds de roulement et 2,9 millions de dollars de dividendes versés. Les ventes d'or ont moyenné 2 441 dollars l'once, avec des coûts de trésorerie totaux de 906 dollars l'once. L'entreprise attend l'approbation des permis pour sa deuxième mine, le projet County Line, tout en ayant réussi à obtenir des permis pour creuser plus profondément dans la zone Pearl.
Fortitude Gold (OTCQB:FTCO) hat die Ergebnisse des 3. Quartals 2024 veröffentlicht mit 10,2 Millionen Dollar Nettoumsatz und 946 Tausend Dollar Nettogewinn (0,04 Dollar pro Aktie). Das Unternehmen produzierte 4.220 Unzen Gold und hielt eine starke Liquiditätsposition von 30,3 Millionen Dollar aufrecht. Wichtige finanzielle Kennzahlen umfassen 4,8 Millionen Dollar Bruttogewinn aus dem Bergbau, 41,5 Millionen Dollar Betriebskapital und 2,9 Millionen Dollar an gezahlten Dividenden. Der durchschnittliche Verkaufspreis für Gold betrug 2.441 Dollar pro Unze mit Gesamtkosten von 906 Dollar pro Unze. Das Unternehmen wartet auf die Genehmigung für seine zweite Mine, das County Line-Projekt, während es erfolgreich Genehmigungen für tiefere Bohrungen im Pearl-Gebiet erhalten hat.
- Strong cash position of $30.3 million
- Working capital of $41.5 million
- Higher realized gold price of $2,441 per ounce
- Profitable quarter with $946,000 net income
- Continued dividend payments of $2.9 million
- Production declined to 4,220 gold ounces from 11,122 in Q3 2023
- Net sales decreased to $10.2 million from previous year
- Higher production costs at $906 per ounce vs $547 in Q3 2023
- Permitting delays affecting expansion plans
- Lower gold grade of 0.66 g/t compared to 2.04 g/t in Q3 2023
COLORADO SPRINGS, CO / ACCESSWIRE / November 5, 2024 / Fortitude Gold Corporation (OTCQB:FTCO) (the "Company") reported results for the third quarter ended September 30, 2024, including
Third Quarter 2024 Financial Results and Highlights
$10.2 million net sales$30.3 million cash balance at September 30, 20244,220 gold ounces produced
$41.5 million working capital at September 30, 2024$4.8 million mine gross profit$2.7 million exploration expenditures$906 t otal cash cost after by-product credits per gold ounce sold*$990 per ounce total all-in sustaining cost*$2.9 million dividends paid$2.0 million gold and silver bullion at September 30, 2024
* The calculation of our cash cost and all-in sustaining cost per ounce contained in this press release is a non-GAAP financial measure. Please see "Management's Discussion and Analysis and Results of Operations" contained in the Company's recently filed Form 10-K for a complete discussion and reconciliation of the non-GAAP measures.
Fortitude Gold sold 4,199 gold ounces at a total cash cost of
"The third quarter of 2024 was successful on numerous fronts for Fortitude despite continued permitting delays," stated Mr. Jason Reid, CEO and President of Fortitude Gold. "We are hopeful that under a different federal administration than the current one, its agencies will become fully staffed and our future permits approved on a timelier basis. The Company remains in a strong financial position as we await permits to begin mine construction of our County Line project, our next targeted mine build."
The following Sales Statistics table summarize certain information about our operations for the three and nine months ended September 30, 2024 and 2023:
|
| Three months ended September 30, |
|
| Nine months ended September 30, |
| ||||||||||
|
| 2024 |
|
| 2023 |
|
| 2024 |
|
| 2023 |
| ||||
Metal sold |
|
|
|
|
|
|
|
|
|
|
|
| ||||
Gold (ozs.) |
|
| 4,199 |
|
|
| 11,042 |
|
|
| 12,292 |
|
|
| 32,173 |
|
Silver (ozs.) |
|
| 11,380 |
|
|
| 24,694 |
|
|
| 48,052 |
|
|
| 55,638 |
|
Average metal prices realized (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gold ($per oz.) |
|
| 2,441 |
|
|
| 1,931 |
|
|
| 2,288 |
|
|
| 1,934 |
|
Silver ($per oz.) |
|
| 29.07 |
|
|
| 23.54 |
|
|
| 26.57 |
|
|
| 23.51 |
|
Precious metal gold equivalent ounces sold |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gold Ounces |
|
| 4,199 |
|
|
| 11,042 |
|
|
| 12,292 |
|
|
| 32,173 |
|
Gold Equivalent Ounces from Silver |
|
| 136 |
|
|
| 301 |
|
|
| 558 |
|
|
| 676 |
|
|
|
| 4,335 |
|
|
| 11,343 |
|
|
| 12,850 |
|
|
| 32,849 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Total cash cost before by-product credits per gold ounce sold |
| $ | 985 |
|
| $ | 600 |
|
| $ | 889 |
|
| $ | 564 |
|
Total cash cost after by-product credits per gold ounce sold |
| $ | 906 |
|
| $ | 547 |
|
| $ | 785 |
|
| $ | 523 |
|
Total all-in sustaining cost per gold ounce sold |
| $ | 990 |
|
| $ | 651 |
|
| $ | 929 |
|
| $ | 633 |
|
(1) |
| Average metal prices realized vary from the market metal prices due to final settlement adjustments from our provisional invoices when they are settled. Our average metal prices realized will therefore differ from the market average metal prices in most cases. |
The following Production Statistics table summarize certain information about our operations for the three and nine months ended September 30, 2024 and 2023:
|
| Three months ended September 30, |
|
| Nine months ended September 30, |
| ||||||||||
|
| 2024 |
|
| 2023 |
|
| 2024 |
|
| 2023 |
| ||||
Ore mined |
|
|
|
|
|
|
|
|
|
|
|
| ||||
Ore (tonnes) |
|
| 149,259 |
|
|
| 110,456 |
|
|
| 336,025 |
|
|
| 329,765 |
|
Gold grade (g/t) |
|
| 0.66 |
|
|
| 2.04 |
|
|
| 0.62 |
|
|
| 3.07 |
|
Low-grade stockpile |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ore (tonnes) |
|
| - |
|
|
| - |
|
|
| - |
|
|
| 2,118 |
|
Gold grade (g/t) |
|
| - |
|
|
| - |
|
|
| - |
|
|
| 0.46 |
|
Waste (tonnes) |
|
| 208,176 |
|
|
| 434,571 |
|
|
| 1,008,173 |
|
|
| 965,312 |
|
Metal production (before payable metal deductions)(1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gold (ozs.) |
|
| 4,220 |
|
|
| 11,122 |
|
|
| 12,353 |
|
|
| 32,293 |
|
Silver (ozs.) |
|
| 11,488 |
|
|
| 25,012 |
|
|
| 48,781 |
|
|
| 56,272 |
|
(1) |
| The difference between what we report as "metal production" and "metal sold" is attributable to the difference between the quantities of metals contained in the doré we produce versus the portion of those metals actually paid for according to the terms of our sales contracts. Differences can also arise from inventory changes incidental to shipping schedules, or variances in ore grades and recoveries which impact the amount of metals contained in doré produced and sold. |
Contact Information
Greg Patterson
VP Corporate Development
greg.patterson@fortitudegold.com
7197179825
SOURCE: Fortitude Gold
View the original press release on accesswire.com
FAQ
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