- Fortitude Gold (OTCQB: FTCO) reports preliminary Q1 2025 gold production of 1,780 ounces, sourced from lower-grade ore.
- The company reduces its monthly dividend by 75% from $0.04 to $0.01 per share starting May 2025 to conserve cash amid project delays.
- A 6-month investment project at the Isabella Pearl pit aims to extend mining operations into H1 2026, accessing new gold zones.
Fortitude Gold Corp. (OTCQB: FTCO) announced its preliminary gold production results for the first quarter of 2025, reporting a total of 1,780 ounces. This output originated mainly from the lower-grade ore found in the Civic Cat sector of the Isabella Pearl mine and residual heap leaching operations.
In response to ongoing financial strategies, the company will reduce its monthly dividend from $0.04 to $0.01 per share starting May 2025. This decision emerges as a strategic move to conserve cash while awaiting permit approvals for the County Line project and reallocating capital for more profound extraction efforts within the Isabella Pearl pit.
Following a recent analysis, Fortitude Gold has identified a new oxide gold mineralization zone that trends southeast deep within the Isabella Pearl pit. To access this previously undeveloped zone, a pit wall layback and modified ramp construction are planned. This capital-intensive project, expected to span six months, is projected to extend the mine's operational life into the first half of 2026 due to higher current gold prices making these deeper areas economically viable.
The company continues to focus on efficiently managing resources, maintaining a robust cash balance by the end of Q1 2025. While addressing challenges posed by permit delays, Fortitude Gold aims to position itself effectively to expand its operations and explore new mining opportunities.
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