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Fortitude Gold (FTCO) investor relations material
Fortitude Gold Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net sales for Q3 2025 were $4.7 million, with net income of $0.2 million ($0.01 per share), 1,384 gold ounces produced, and $2.5 million mine gross profit.
Cash balance at quarter-end was $11.7 million, with working capital of $28.5 million.
Gold production declined from 4,220 ounces in Q3 2024 to 1,384 ounces in Q3 2025 due to lower-grade ore and permitting delays.
Paid $0.7 million in dividends during the quarter.
All permits secured for County Line, with water well drilling and infrastructure planning underway.
Financial highlights
Q3 2025 net sales decreased 54% year-over-year, mainly from a 67% drop in gold sales volume, partially offset by a 41% increase in average realized gold price.
All-in sustaining cost per gold ounce sold was $1,956, up from $990 in Q3 2024; total cash cost was $1,244, up from $906.
Mine gross profit for Q3 2025 was $2.5 million, compared to $4.8 million in Q3 2024.
Cash and cash equivalents declined to $11.7 million from $27.1 million at year-end 2024.
$1.6 million spent on exploration, mainly for mapping and studies.
Outlook and guidance
Management believes liquidity and capital resources are adequate for the next twelve months.
No production projections for County Line or Scarlet South for 2025/2026 until operations stabilize and permits are secured.
AISC expected to decrease as CapEx normalizes.
No near-term dividend increases planned; capital prioritized for mine development.
County Line Mine received all permits in September 2025, with ground preparation and resource estimation updates planned for Q4.
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