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Fortitude Gold (FTCO) investor relations material

Fortitude Gold Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary6 Aug, 2025

Executive summary

  • Q2 2025 net sales were $4.9M, net income $0.8M or $0.04 per share, with 1,500 gold ounces produced and $17.1M cash balance at quarter end.

  • Working capital stood at $26.6M as of June 30, 2025.

  • $1.5M in dividends paid during the quarter.

  • Company is advancing permitting for County Line, Scarlet South/North, and Golden Mile projects, with optimism for approvals under a pro-mining administration.

  • Isabella Pearl pit layback continues, targeting deeper mineralized zones as a bridge until County Line is operational.

Financial highlights

  • Q2 2025 mine gross profit was $2.6M; exploration expenditures totaled $1.3M.

  • Net sales declined to $4.9M from $9.6M year-over-year, mainly due to lower sales volumes despite a 40% increase in average realized gold price.

  • Net income for Q2 2025 was $0.8M, compared to a net loss of $0.1M in Q2 2024.

  • All-in sustaining cost per gold ounce sold was $1,452, up from $1,013 year-over-year.

  • Average realized gold price increased to $3,287/oz from $2,341/oz year-over-year.

Outlook and guidance

  • County Line permit approval is expected soon, with production ramp-up to follow; initial production could begin within six months of permitting.

  • Company aims to layer new ore sources (Scarlet South, County Line) to maintain production as Isabella Pearl winds down.

  • Liquidity and capital resources are considered adequate to fund operations, exploration, capital, and corporate activities for the next twelve months.

  • Ongoing permitting delays at County Line and other properties may impact future production and development timelines.

  • No external financing planned; focus remains on funding development through internal cash flow and maintaining dividends.

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Frequently asked questions

Fortitude Gold Corp is a U.S.-based gold production and exploration company. It operates gold mining properties primarily in Nevada, focusing on low-cost production and exploration of high-grade mineral deposits. The company is engaged in open-pit mining and continues to evaluate additional exploration targets within its land portfolio. It is headquartered in Colorado Springs, Colorado, and its shares are listed on the OTCQB.

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