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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) reported maiden drill results from its County Line property, revealing multiple high-grade gold intercepts. Highlights include:
- 6.10 meters at 15.18 g/t gold within 15.24 meters at 7.66 g/t gold.
- 35-hole drill program focusing on historic open-pit areas.
County Line historically produced approximately 81,000 ounces of gold. The company aims to utilize existing infrastructure at Isabella Pearl for gold processing, potentially lowering capital expenses.
Fortitude Gold Corp. (OTCQB:FTCO) announced high-grade gold surface samples from its Ripper property in Nevada, including a notable 8.44 g/t gold sample. The mapping and sampling program completed in July 2022 yielded 148 samples, with several other samples showing grades above 2 g/t. The exploration targets at Ripper indicate potential for further development, leading to future drilling plans in 2023. The company, focused on gold production and dividend yield, is positioned in a mining-friendly jurisdiction.
Fortitude Gold Corp. (OTCQB:FTCO) announced a monthly dividend of $0.04 per common share, payable on August 31, 2022 to shareholders of record as of August 19, 2022. The company focuses on gold production and seeks to provide substantial dividends to investors. The dividend amount may fluctuate based on operational cash flows and market conditions. Fortitude Gold operates in Nevada, with a strategy centered on low-cost, high-margin projects and aims to remain debt-free while enhancing shareholder value.
Fortitude Gold Corp. (OTCQB:FTCO) announced new drill results from its Golden Mile property in Nevada, featuring high-grade intercepts, including 3.05 meters grading 16.80 g/t gold. These results contribute to the company's ongoing efforts to upgrade resources into reserves, targeting a prefeasibility study by late 2022 or early 2023. The drill holes primarily focused on the southeast margin of the current phase one pit shell, indicating potential for significant mineral resource expansion. Furthermore, Fortitude remains active in the permitting process and continues investing in infrastructure for future mining operations.
Fortitude Gold Corporation (OTCQB:FTCO) delivered solid Q2 2022 results, reporting $24.0 million in net sales and a net income of $6.6 million ($0.27 per share). The company produced 10,980 ounces of gold, with a cash balance of $40.7 million at quarter-end. The total cash cost per gold ounce sold was $646, while all-in sustaining costs came in at $733. Fortitude Gold is on track to meet its annual production target of 40,000 ounces. The company also paid $2.9 million in dividends, reinforcing its commitment to shareholders.
Fortitude Gold (OTCQB:FTCO) announced its second quarter 2022 earnings conference call for August 3, 2022. CEO Jason Reid will discuss quarterly results and current operations at 11:00 AM Eastern. Investors can join via webcast or telephone. Fortitude Gold focuses on low-cost gold production with a commitment to debt-free operations and substantial dividends. The company operates in Nevada, a premier mining jurisdiction, including the Isabella Pearl gold mine. Caution is advised as forward-looking statements may not materialize due to various risks.
Fortitude Gold Corp. (OTCQB:FTCO) reported preliminary second quarter production results of 10,980 gold ounces, marking an 11% increase from the previous quarter. The total gold production for the first half of 2022 reached 20,855 ounces. The company maintains its annual production outlook of 40,000 ounces for 2022. Operations at the Isabella Pearl mine are now focused on the high-grade phase two Pearl zone. Full financial results will be disclosed in the upcoming Form 10-Q filing.
Fortitude Gold Corp. (OTCQB:FTCO) has announced a monthly dividend of $0.04 per share, payable on July 29, 2022, to shareholders on record as of July 19, 2022. The company, based in Colorado Springs, focuses on gold production and development in Nevada, aiming for low operating costs and high margins. It emphasizes sustainability in dividend payments, which may vary based on operational cash flow and market conditions.
Fortitude Gold Corp. (OTCQB:FTCO) announced promising results from its second round of resource definition drilling at the Golden Mile property in Nevada. Highlights include high-grade intercepts: 6.10 meters at 3.10 g/t gold and 21.34 meters at 1.79 g/t gold. The latest drill results build on previous findings and aim to convert resources into reserves by completing a prefeasibility study by December 31, 2022. The company has received permits to explore mineralized extensions beyond patented claims and is preparing for ongoing drilling, with potential development of a second mine in a leading mining jurisdiction.
Fortitude Gold Corp. (OTCQB:FTCO) has announced a monthly dividend of $0.04 per common share, payable on June 30, 2022, to shareholders of record as of June 17, 2022. The company, focused on gold production, development, and exploration in Nevada, emphasizes that dividend amounts may vary depending on operational cash flows and market conditions. Fortitude Gold operates high-grade gold properties and aims for organic growth while maintaining a debt-free status and sustaining substantial dividends.
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