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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) 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.
Fortitude Gold Corp. (OTCQB:FTCO) has announced a monthly dividend of $0.04 per common share, payable on February 28, 2022, to shareholders of record as of February 18, 2022. The company focuses on low-cost gold production with a strategy aimed at organic growth, maintaining a debt-free status, and delivering substantial dividends. Fortitude Gold operates five high-grade gold properties in Nevada's Walker Lane Mineral Belt, including the actively producing Isabella Pearl mine. Possible future dividend variability depends on operational cash flows, market conditions, and company strategies.
Fortitude Gold Corp. announced record gold production for 2021, achieving 46,459 ounces, exceeding its increased target of 45,000 ounces by 15%. The fourth quarter alone saw 8,866 ounces produced. The company attributes this success primarily to its Isabella Pearl mine, which benefited from high-grade ore and efficient mining operations. For 2022, the production outlook is set between 36,000 and 40,000 ounces, with expectations for reduced mining costs due to decreased waste removal. Full financial results will be available upon filing with the SEC.
Fortitude Gold Corp. (OTCQB:FTCO) announces a monthly dividend of $0.04 per common share, payable on January 31, 2022, to shareholders of record by January 19, 2022. The company is a gold producer operating primarily in Nevada, aiming for low operating costs and high margins. Dividend payments may fluctuate or be suspended based on operational cash flows and market conditions. Fortitude Gold is committed to remaining debt-free and delivering substantial dividends, focusing on organic growth and maintaining strong project returns.
Fortitude Gold Corp. (OTCQB:FTCO) has filed a Plan of Operations with the Bureau of Land Management for its Golden Mile project in Nevada. Proposed operations include an open pit mine and heap leach process, utilizing the nearby Isabella Pearl ADR plant. The project has an initial resource estimate of 78,500 gold ounces indicated and 84,500 ounces inferred. The company aims for a production decision in the first half of 2022 and believes this project can reduce costs and construction time due to its location on patented land.
Fortitude Gold Corp. (OTCQB:FTCO) has declared a monthly dividend of $0.04 per common share, payable on December 31, 2021, to shareholders recorded as of December 20, 2021. The company, specializing in gold production and exploration in Nevada, emphasizes that dividends may vary based on operational cash flows and market conditions. Fortitude Gold aims to maintain low operating costs and high returns, operating five gold properties in the Walker Lane Mineral Belt, including the Isabella Pearl mine.
Fortitude Gold Corp. (OTCQB:FTCO) has announced its first-ever Mineral Resource estimate for the Golden Mile Property in Nevada, featuring 78,500 Indicated gold ounces at 1.13 g/t and 84,500 Inferred gold ounces at 1.10 g/t. The resource is based on 17,440 meters of drilling and remains open for expansion. The initial report aligns with SEC's S-K 1300 guidelines and indicates a promising outlook for future exploration and production decisions. The company aims to utilize existing facilities to minimize costs and expedite project development.
Fortitude Gold Corp. (OTCQB:FTCO) has declared a monthly dividend of $0.04 per common share, payable on November 30, 2021, to shareholders of record as of November 19, 2021. The Company focuses on producing gold in Nevada and aims for low operating costs and high margins. While the Company emphasizes its intention to distribute substantial dividends, it notes that dividend amounts may vary based on operational cash flows and market conditions. Fortitude Gold operates five high-grade gold properties and aims to grow organically without debt.
Fortitude Gold Corp. (FTCO) announced Q3 2021 results reporting 11,478 ounces of gold produced at an all-in sustaining cost of $793 per ounce. The company achieved $20.4 million in net sales and a net income of $4.6 million or $0.19 per share. Cash reserves rose by $16.6 million to $44.3 million, while working capital grew to $75.5 million. A dividend increase of 16.7% to $0.42 annually was announced, with further hikes to $0.48 per share. Fortitude is on track to meet its annual production target of 45,000 ounces.
Fortitude Gold (OTCQB:FTCO) announced its third quarter 2021 earnings conference call scheduled for November 3, 2021, at 11:00 a.m. Eastern Time. CEO Jason Reid will discuss quarterly results and current operations. The call will include a Q&A session and will be accessible via webcast or telephone. Fortitude Gold focuses on developing low-cost gold projects in Nevada, aiming to remain debt-free and provide substantial dividends. The company operates five gold properties, including the Isabella Pearl mine.
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