This article first appeared on GuruFocus.
Release Date: November 05, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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Fortitude Gold Corp (FTCO) reported net sales of $4.7 million and a net income of $0.2 million for Q3 2025.
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The company has a strong cash balance of $11.7 million as of September 30, 2025.
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Fortitude Gold Corp (FTCO) successfully produced 1,384 gold ounces during the quarter.
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The company has secured all necessary permits for the County Line project, allowing for future production expansion.
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Fortitude Gold Corp (FTCO) has brought mining operations in-house, leasing a new fleet of Komatsu equipment, which is expected to improve operational control and cost efficiency.
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The total all-in sustaining costs were high at $1,956 per ounce, partly due to capital expenditures.
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The company has not provided production projections for the remainder of 2025 or 2026, indicating uncertainty in future output.
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There are delays in obtaining permits for the Scarlett South project, partly due to a government shutdown.
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Fortitude Gold Corp (FTCO) is not currently conducting active exploration drilling, limiting potential resource expansion.
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Dividend increases are not expected in the near future as the company focuses on capital conservation and project development.
Q: Now that permits are in hand for County Line, is there a production projection for the rest of 2025 or 2026? A: No, not yet. As for AISC, it was high due to some CapEx, and we expect it to decrease. Regarding the $17 million equipment lease, we decided to bring mining in-house to have more control over our operations. – Jason Reed, CEO
Q: Is there any progress on permitting for exploring Scarlett North? A: We are actively working on permitting for Scarlett North. We have hit some pockets of mineralization, and we are hopeful to define more. The more immediate focus is on Scarlett South, which would allow us to cycle equipment efficiently. – Jason Reed, CEO
Q: How much money would the company save by paying dividends quarterly? A: The savings would be nominal. We have the dividend on autopilot to pay monthly, and it is not a significant administrative burden. – Janet Turner, CFO
Q: Has deep pit layback ore been collected and added to the leach pad yet? A: We are at the top of it and making access to the final benches. We are excited to get into the ore soon. – Jason Reed, CEO
