Quarterly ResultMay 11, 2026, 04:41 PM
Fortitude Gold Q1 Net Loss $1.6M; Commences Production at New Mines
AI Summary
Fortitude Gold Corporation reported a net loss of $1.6 million, or $(0.06) per share, on $3.2 million in net sales for the first quarter of 2026. The company commenced production at County Line and Isabella Pearl's Scarlet South, producing 688 gold ounces. Additionally, Fortitude Gold completed a $12.0 million private placement and entered into a 60% joint venture for the East Camp Douglas property, which received a $40 million investment from Hawthorne Land & Minerals, LLC for accelerated exploration.
Key Highlights
- Reported a net loss of $1.6 million, or $(0.06) per share, for Q1 2026.
- Achieved $3.2 million in net sales for the first quarter.
- Produced a total of 688 gold ounces during Q1 2026.
- Completed a $12.0 million private placement of common stock.
- Entered a 60% Joint Venture for the East Camp Douglas property, funded by a $40 million investment.
- Maintained a cash balance of $10.0 million at March 31, 2026.
- Isabella Pearl Mine's all-in sustaining cost was $2,263 per gold ounce sold.
- County Line Mine's all-in sustaining cost was $4,170 per gold ounce sold.