Latest news with #FortitudeGold
Globe and Mail
5 days ago
- Business
- Globe and Mail
Fortitude Gold (FTCO) Q2 Sales Down 49%
Key Points Revenue (GAAP) dropped 49% to $4.9 million in Q2 2025 compared to the prior-year period as Gold production dropped sharply compared to Q2 2024. Net income (GAAP) turned positive at $0.8 million, up from a GAAP net loss in the prior year. Dividend payments exceeded net income (GAAP). while cash reserves continued to decline, highlighting liquidity pressures. These 10 stocks could mint the next wave of millionaires › Fortitude Gold (OTC:FTCO), released its second quarter 2025 earnings on August 5, 2025. The company reported GAAP revenue of $4.9 million and earnings per share (GAAP) of $0.04. This performance marked a 49% drop in sales compared to Q2 2024, reflecting much lower gold production and sales volumes at its key asset, the Isabella Pearl mine, compared to Q2 2024. Despite the steep decline in output, high gold prices helped Fortitude Gold post positive net income (GAAP) of $0.8 million, reversing a GAAP net loss of $0.1 million in Q2 2024. There were no analyst or company financial estimates to compare these results to. Overall, the quarter highlighted significant operational and regulatory headwinds, with continued dividend payments despite negative operating cash flow and declining cash on the balance sheet. About Fortitude Gold: Core Business and Strategic Priorities Fortitude Gold (OTC:FTCO) operates in the precious metals mining industry and focuses primarily on gold production. Its main asset is the Isabella Pearl mine in Nevada, where it processes ore containing gold and a small amount of silver, producing and selling dore bars. The company's revenue and profitability depend directly on output from this single mine and the global prices for gold and silver. Recent business strategy has centered on managing operational costs and maximizing returns from the Isabella Pearl mine, even as production declines. Regulatory compliance, especially for environmental reclamation, remains a key business focus, as does preparation for the development of its next project, County Line. Timely permit approvals for new mines are critical to the company's future, as current production at Isabella Pearl continues to decline. Quarter Highlights: Production, Costs, and Progress The most notable development was a sharp decrease in gold production and sales volumes compared to Q2 2024, with gold ounces sold falling to 1,491. Waste mined increased 36% to 474,654 tonnes compared to Q2 2024, suggesting the company worked deeper or more challenging areas of its open pit. Ore grades fell to 0.33 grams per tonne from 0.53 compared to Q2 2024. Unit costs climbed as fixed expenses were spread across fewer produced ounces. The total cash cost per gold ounce, a non-GAAP measure that reflects direct costs minus any by-product credits, rose 44.7% to $1,131 compared to Q2 2024. Meanwhile, the all-in sustaining cost, a broader measure including sustaining capital and reclamation, grew 43% to $1,452 per ounce (non-GAAP) compared to Q2 2024. The realized gold price averaged $3,287 per ounce, that permitted the company to remain profitable despite these cost pressures. CEO Jason Reid explained, "Between quarterly production from residual leach coupled with near term Pearl deep mineralization, we target production from both as our bridge to our next mine build at County Line." Efforts on environmental compliance continued, with reclamation liabilities (GAAP) dropping to $7.8 million from $9.9 million at year-end 2024. This indicates ongoing site restoration. Exploration spending was $1.3 million. There were no reported material one-time events affecting results beyond operational trends already discussed. Dividend payments totaled $1.5 million, meaning payouts exceeded net income for the period. Looking Forward: Permit Catalysts and Outlook Management did report progress on the County Line permitting process, describing the Bureau of Land Management as having advanced the Plan of Operations to a 30-day public comment phase. Final approval remains pending, and the timing is uncertain. The company ended the period with $17.1 million in cash and $26.6 million in working capital at June 30, 2025 but both figures continued to trend lower quarter by quarter. Operating cash flow for the first half of 2025 was negative $4.6 million. No debt is outstanding. The company's liquidity position remains solid for now, but ongoing cash burn makes permit progress at County Line crucial. Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,039%* — a market-crushing outperformance compared to 181% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. See the stocks » *Stock Advisor returns as of August 4, 2025
Associated Press
04-08-2025
- Business
- Associated Press
Fortitude Gold Announces 2025 Second Quarter Conference Call
COLORADO SPRINGS, CO / ACCESS Newswire / August 4, 2025 / Fortitude Gold (OTCQB:FTCO) (the 'Company') today announced the timing of its 2025 second quarter earnings conference call scheduled for Wednesday, August 6, 2025. Fortitude Gold is a gold producer, developer, and explorer with operations in Nevada, U.S.A. offering investors exposure to both gold production and dividend yield. Conference Call Fortitude Gold's CEO, Mr. Jason Reid, will host the conference call Wednesday, August 6, 2025 at 11:00 a.m. Eastern Time. Topics of discussion will include 2025 second quarter results and an update on current operations. The conference call will be recorded and posted to the Company's website. Q&A Following Mr. Reid's opening remarks, the Company will host a question and answer (Q&A) session. Date: Wednesday, August 6, 2025 Time: 11:00 AM Eastern (9:00 AM Mountain) There are two ways to join the conference call: To join the conference via webcast, please click on the following link: To join the call via telephone please use one of the following dial-in details: Toll Free: 888-506-0062 International: 973-528-0011 Participant Access Code: 881765 Please connect to the conference call 10 minutes prior to the start time using one of the connection options listed above. REPLAY A webcast replay of the conference call will be available using the following link: A teleconference replay will be available using the following numbers: Toll Free: 877-481-4010 International: 919-882-2331 Participant Access Code: 52809 About Fortitude Gold Corp.: Fortitude Gold is a U.S. based gold producer targeting projects with low operating costs, high margins, and strong returns on capital. The Company's strategy is to grow organically, remain debt-free, and distribute dividends. The Company's Nevada Mining Unit consists of seven high-grade gold properties located in the Walker Lane Mineral Belt and an eighth high-grade gold property in west central Nevada. The Isabella Pearl gold mine, located on the Isabella Pearl mineralized trend, is currently in production and County Line is our next targeted mine build. Nevada, U.S.A. is among the world's premier mining friendly jurisdictions. Cautionary Statements: This press release contains forward-looking statements that involve risks and uncertainties. If you are risk-averse you should NOT buy shares in Fortitude Gold Corp. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words 'plan', 'target', 'anticipate,' 'believe,' 'estimate,' 'intend' and 'expect' and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding the Company's strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material are forward-looking statements. All forward-looking statements in this press release are based upon information available to the Company on the date of this press release, and the Company assumes no obligation to update any such forward-looking statements. Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release. In particular, the scope, duration, and impact of the COVID-19 pandemic on mining operations, Company employees, and supply chains as well as the scope, duration and impact of government action aimed at mitigating the pandemic may cause future actual results to differ materially from those expressed or implied by any forward-looking statements. Also, there can be no assurance that production will continue at any specific rate. Contact: Greg Patterson 719-717-9825 [email protected] SOURCE: Fortitude Gold Corp. press release
