Fortitude Gold (FTCO) Mining Forum Americas 2026 summary

Strategic overview and operational highlights

• Eight properties in Nevada, focusing on high-grade, low-cost, open-pit heap leach gold production with a unique equity and yield strategy.

• Three mines in production (Isabella Pearl, County Line, Scarlet South), with Scarlet North and Golden Mile in permitting phase and several exploration targets.

• Organic growth, debt-free operations, and substantial dividend distribution are core priorities, leveraging a tight capital structure.

• Revenue is 99% gold, with silver used as a production cost credit.

• History of 14 years of operational profitability, $1.2 billion in revenue, and $165 million in dividends.

Recent developments and project pipeline

• $40 million joint venture at East Camp Douglas aims to expedite deposit discovery and production, with promising drill results and high-grade intercepts.

• County Line and Scarlet South mines recently permitted and brought into production quickly and cost-effectively, leveraging proximity to existing facilities.

• Golden Mile project is advancing in permitting, with process plant equipment ready and project added to the FAST-41 dashboard for regulatory accountability.

• Exploration targets include multiple prospects along a 10 km mineralized corridor, with several showing high-grade surface samples and potential for new discoveries.

• East Camp Douglas considered a potential game changer, with a large lithocap and high-grade veins, and a world-class epithermal deposit expert validating its potential.

Financial position and capital allocation

• Current cash position is approximately $23 million.

• 2027 exploration budget set at $3–5 million, with a separate $40 million JV-funded program at East Camp over the next two years.

• No corporate debt, only equipment financing for in-house mining expansion.

• 28.5 million shares outstanding, supporting strong dividend capacity and peer outperformance during profitable years.

• Dividend policy is central, with adjustments made during challenging periods and plans to increase as conditions improve.