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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 Corp. (OTCQB:FTCO) has announced a monthly dividend of $0.04 per common share, payable on May 31, 2022, to shareholders recorded by May 19, 2022. As a gold producer and developer in Nevada, the Company emphasizes both gold production and dividend yield. The dividend may vary or be discontinued based on operational cash flows and other factors. Fortitude Gold aims to operate debt-free and distribute substantial dividends while maintaining a focus on projects with low operating costs and high returns.
Fortitude Gold Corporation (OTCQB:FTCO) announced Q1 2022 results with $15.4 million in net sales and a net income of $2.6 million or $0.11 per share. The company produced 9,875 ounces of gold, maintaining its annual production outlook of 40,000 ounces. The cash balance at quarter end was $36.3 million. Despite lower sales compared to Q1 2021, Fortitude Gold's gross profit stood at $6.8 million. The company aims to enhance cash flow with lower mining costs as it transitions to high-grade ore mining.
Fortitude Gold (OTCQB:FTCO) announced its first quarter 2022 earnings conference call scheduled for May 5, 2022, at 11:00 AM Eastern Time. The call will feature an overview of quarterly results and current operational updates from CEO Jason Reid. Investors can join via webcast or telephone using the provided details. The company emphasizes its focus on low operating costs and strong returns, with active mining in Nevada's Walker Lane Mineral Belt. The press release includes caution regarding forward-looking statements and associated risks.
Fortitude Gold Corp. (OTCQB:FTCO) announced promising drill results from its Golden Mile property in Nevada, revealing high-grade gold intercepts. Notable findings include 7.62 meters grading 18.22 g/t gold within 38.10 meters at 4.60 g/t. The ongoing drill campaign targets resource conversion and expansion, with results from 21 holes returned and 32 holes pending. The company aims to complete a prefeasibility study by the end of 2022 to further enhance its resource estimates.
Fortitude Gold Corp. (OTCQB:FTCO) reported preliminary production results of 9,875 gold ounces for Q1 2022, processing ore from the Isabella Pearl mine. The focus was on waste removal, with phase-one operations complete, and now transitioning to phase-two mining, allowing access to high-grade zones over the next three years. The company maintains its 2022 production outlook of 40,000 ounces. Financial results will be filed in the upcoming Form 10-Q. Fortitude Gold emphasizes organic growth, low operating costs, and substantial dividends.
Fortitude Gold Corp. (OTCQB:FTCO) announces a monthly dividend of $0.04 per common share, payable on April 29, 2022, to shareholders of record by April 19, 2022. The company focuses on gold production and aims to provide substantial dividends while maintaining a debt-free status. Its operations are based in Nevada, a leading mining jurisdiction, with the Isabella Pearl mine currently in production. The dividend amount may vary and is subject to Board discretion based on operational and market conditions.
Fortitude Gold Corp. (OTCQB:FTCO) has declared a monthly dividend of $0.04 per common share, payable on March 31, 2022, to shareholders of record as of March 21, 2022. As a gold producer with operations in Nevada, the company emphasizes its commitment to shareholder returns through dividends. However, the board may alter dividend amounts based on various factors, including operational cash flows and market conditions. Fortitude Gold focuses on low-cost, high-margin projects and aims to maintain a debt-free status while maximizing returns for investors.
Fortitude Gold Corporation (OTCQB:FTCO) reported strong year-end 2021 results, with record gold production of 46,459 ounces, net income of $17.9 million ($0.75 per share), and a cash balance of $40 million with no debt. The 2022 production outlook targets 40,000 ounces, assuming no disruptions. Significant recoverable gold ounces on the heap leach pad were disclosed, extending the mine life by over three years. Management highlighted robust operational performance, increased cash flow, and a monthly dividend of $0.04 per share, currently yielding 7.5%, making FTCO an attractive investment in the precious metals sector.
Fortitude Gold (OTCQB:FTCO) announced its year-end 2021 earnings conference call scheduled for March 2, 2022, at 11:00 AM Eastern Time. CEO Jason Reid will discuss fourth quarter and year-end results, followed by a Q&A session. Investors can join the call via webcast or telephone. Fortitude Gold aims for low operating costs and strong returns on capital, focusing on organic growth and substantial dividend distribution. The company's gold production takes place in Nevada, a top mining jurisdiction.
Fortitude Gold Corp. (OTCQB:FTCO) announced its annual shareholder meeting on May 18, 2022, at 9:00 a.m. MST in Colorado Springs. The record date for eligible shareholders is March 21, 2022. Fortitude Gold, operating in Nevada, focuses on gold production and aims for low operating costs and high margins while remaining debt-free and distributing dividends. The company operates five high-grade gold properties, with the Isabella Pearl gold mine in production. Caution is advised due to forward-looking statements and risks associated with the COVID-19 pandemic.
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