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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 March 31, 2023, to shareholders of record by March 20, 2023. The company, focused on gold production in Nevada, aims to provide investors with exposure to gold production and dividends. The dividend amount may fluctuate due to operational cash flows, company development needs, and market conditions. Fortitude Gold is committed to remaining debt-free and distributing substantial dividends while targeting projects with low operating costs and high returns.
Fortitude Gold Corporation (OTCQB:FTCO) reported strong year-end 2022 results with a net income of $14.7 million or $0.61 per share and a cash balance of $45.1 million, up 13% year-over-year. The company produced 41,231 gold ounces, surpassing its target by 3%. For 2023, Fortitude anticipates production of 40,000 ounces and plans significant investments in exploration and development across its properties. The company maintains a dividend yield of over 7.5% with no debt and a solid financial position, emphasizing growth through its County Line and Golden Mile properties.
Fortitude Gold (OTCQB:FTCO) has announced its year-end 2022 earnings conference call on March 1, 2023, at 11:00 AM Eastern Time. The call will cover the company's annual results and current operations. CEO Jason Reid will lead the discussion, followed by a Q&A session. Fortitude Gold is a gold producer operating in Nevada and aims to maintain low operating costs and distribute dividends. The company is focused on organic growth and operates five high-grade gold properties in the Walker Lane Mineral Belt, including the active Isabella Pearl gold mine. Investors should note the forward-looking statements regarding future performance.
Fortitude Gold Corp. (OTCQB:FTCO) announced promising high-grade gold drill results from its Golden Mile property in Nevada, with significant intercepts including 24.38 meters grading 6.01 g/t gold and 3.05 meters at 30.94 g/t gold. The latest drill program aimed to connect deeper mineralized zones and explore extensions to the east, revealing a new geologic model for gold mineralization. Capital investments for the project total approximately $9 million, with equipment procured to support potential open-pit mining. The company is evaluating a phase one open pit design to expedite production, further enhancing its production profile.
Fortitude Gold Corp. (OTCQB:FTCO) has scheduled its annual meeting of shareholders for May 18, 2023, at 9:00 a.m. MST in Colorado Springs, CO. The record date for determining eligible shareholders to vote is March 20, 2023. The company operates in the gold production sector, focusing on low operating costs and high margins, with a debt-free strategy and a commitment to substantial dividends. Fortitude Gold’s Nevada operations feature multiple high-grade gold properties, including the producing Isabella Pearl gold mine, situated in a mining-friendly jurisdiction. The company emphasizes its growth plans and potential risks, including uncertainties related to COVID-19 impacts.
Fortitude Gold Corp. (OTCQB:FTCO) announced significant gold drill intercepts at its Isabella Pearl open pit site in Nevada. Key results include oxide intercepts of 3.05 meters grading 15.15 g/t gold within 21.34 meters at 7.21 g/t gold, and non-oxide intercepts of 6.10 meters at 12.17 g/t gold within 41.15 meters grading 6.25 g/t gold. The drill program, completed in Q4 2022, aimed to explore below the projected pit floor for additional minable ore. The findings indicate potential for including some of this mineralization in an upcoming resource update. The company’s exploration strategy is focused on optimizing mine plans and maximizing the oxide ore's recovery capabilities.
Fortitude Gold Corp. (OTCQB:FTCO) has announced a monthly dividend of $0.04 per common share, payable on February 28, 2023, to shareholders of record as of February 17, 2023. The company operates gold properties in Nevada, focusing on projects with low operational costs and high margins. The dividend amount is subject to change based on various factors including operational cash flows and market conditions. Fortitude Gold aims to remain debt-free while providing substantial dividends to investors through its targeted growth strategy.
Fortitude Gold Corp. (OTCQB:FTCO) announced its maiden mineral resource estimate for the County Line property in Nevada, comprising 19,500 ounces of gold measured, 17,900 ounces indicated, and 12,200 ounces inferred as of December 31, 2022. The resources are based on 8,231 meters of drilling across 73 holes. The mineralization is open along strike and downdip, suggesting potential for growth. The company plans to provide a full report in its upcoming 10-K filing. This development positions Fortitude Gold for future gold production and strengthens its operational base, leveraging existing infrastructure at the Isabella Pearl processing facility.
Fortitude Gold Corp. (OTCQB:FTCO) announced its preliminary year-end results for 2022, reporting a total production of 41,231 gold ounces, surpassing its target of 40,000 ounces by 3%. The fourth quarter alone accounted for 10,876 ounces. For 2023, the company aims for a similar production range of 36,000 to 40,000 ounces, primarily from its Isabella Pearl mine in Nevada. The mine has been pivotal in delivering consistent and low-cost production, contributing to both gold output and dividends for shareholders. Full financial results will be disclosed with the filing of the Form 10-K.
Fortitude Gold Corp. (OTCQB:FTCO) reported significant results from its County Line drilling program, with high-grade gold intervals. Notable intercepts include 6.10 meters at 3.11 g/t gold and 3.05 meters at 3.29 g/t gold within extended drill lengths. The drill program aims to delineate mineralization for potential ore feed to its Isabella Pearl operation nearby. The company plans further drilling in Q1 2023 and anticipates its first resource estimate by the end of the quarter, enhancing the prospects for a production decision.
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