Fortitude Gold Stock Earnings Reports

Fortitude Gold reported an active Q1 2026 as it brought two new mines into production (County Line and Isabella Pearl's Scarlet South), completed a $12 million private placement, and entered a 60% joint venture on East Camp Douglas. Key financials: $3.2M net sales, $10M cash at 3/31/26, $31.3M working capital, 688 ounces produced in Q1, $2.2M mine gross profit, $1.7M exploration spend, 611 ounces of bullion on hand, $1,017 total cash cost/oz (Isabella Pearl) and $2,263 AISC/oz (Isabella Pearl). Operational priorities include ramping throughput (commissioned a much larger crusher expected to increase crushing capacity from ~250 t/hr to >800 t/hr), connecting to grid power (custom switchgear pending delivery — expected this month), and completing the County Line pit layback to access ~40,000 oz of higher-grade material targeted for 2027–2028. Exploration is a major focus: the East Camp JV has produced very promising, shallow drill intercepts that management calls potentially the company’s best to date and “home run” exploration potential. Management will not provide production guidance yet — calling 2026 a ‘rebuild year’ with later-year production increases targeted once throughput and mining plans are settled. New operating costs include additional trucking for Scarlet South and County Line, partially offset by anticipated energy savings (~$80–$100k/month) from grid power. Manpower retention is a noted industry-wide challenge. The company remains committed to paying a dividend but will not tie it to a strict formula; they will retain flexibility given capital needs for mine builds. Permitting work continues for Golden Mile and Scarlet North.