Quarterly ResultMay 11, 2026, 04:15 PM
Fortitude Gold Q1 Net Sales $3.2M, Reports $1.6M Net Loss
AI Summary
Fortitude Gold Corp. reported a net loss of $1.6 million for Q1 2026, a significant decline from a net income of $1.2 million in Q1 2025, with net sales decreasing to $3.2 million from $6.5 million. The company commenced production at its County Line and Isabella Pearl’s Scarlet South mines and completed a $12.0 million private placement. Cash and cash equivalents increased to $10.0 million at period end, and the company also entered into a 60% Joint Venture for the East Camp Douglas property.
Key Highlights
- Net sales decreased to $3.2 million in Q1 2026 from $6.5 million in Q1 2025.
- Reported a net loss of $1.6 million in Q1 2026, compared to a net income of $1.2 million in Q1 2025.
- Basic net loss per share was $0.06 in Q1 2026, down from $0.05 earnings per share in Q1 2025.
- Completed a $12.0 million private placement, increasing cash to $10.0 million.
- Total gold ounces produced decreased to 688 in Q1 2026 from 1,780 in Q1 2025.
- Isabella Pearl's all-in sustaining cost per gold ounce sold increased to $2,263 from $1,404.
- Commenced production at County Line and Isabella Pearl’s Scarlet South.
- Entered into a 60% Joint Venture for the East Camp Douglas property.