Fortitude Gold
Financials:
Primary ticker: OTCQB:FTCO
Stage of development: Production
Primary minerals: Gold
Project to promote: Isabella Pearl
Project location: Nevada, USA
Website: www.fortitudegold.com
Fortitude Gold is a U.S. based gold producer targeting projects with low operating costs, strong returns on capital and high margins. Our strategy is to grow organically, remain debt-free and distribute substantial dividends. Our Nevada Mining Unit consists of five high-grade gold properties located in the Walker Lane Mineral Belt. Nevada, U.S.A. is among the world’s premier mining friendly jurisdictions.
Cash: USD44M (9/30/2021)
Debt: NIL
Major shareholders:
Management – 12%
Dimensional Fund Advisers
Ancora Advisors
Moloney Securities Asset Management
Management Profile
Jason Reid – CEO, President and Director
Mr. Jason Reid is an experienced mining industry executive serving as CEO, President and Director of Fortitude Gold Corporation (FGC). FGC was spun out of Gold Resource Corporation (GRC) (NYSE American: GORO) where Jason previously served for over 14 years including CEO, President and Director positions. Jason joined GRC in 2006 when it was a private Company and helped take it public with a self-underwritten IPO. Jason was part of a management team that took GRC from an exploration stage company, to a development stage company, to a gold and silver dividend paying metal producer. Under his tenure as CEO & President, GRC achieved over a decade of production, generated over $1 billion in revenue, ten consecutive years of profitability, and returned over $116 million in dividends to shareholders.
What is your rationale for taking part 121 Mining Investment?
We are looking to attract shareholders whom want both an investment in gold and appreciate receiving monthly cash dividends and yield. Fortitude’s current dividend is $0.48/ share, paid monthly at $0.04/ month. As of mid January, 2022 our dividend yield was over 7%.
What recent news would you like to highlight to investors attending?
January 18 – Fortitude Gold Delivers Record Annual Gold Production Beating Increased 2021 Outlook, Provides 2022 Production Outlook
January 5 – Fortitude Gold Declares January Monthly Dividend
January 4 – Fortitude Gold Submits Golden Mile Project Plan of Operations
What are your key goals for the next 3, 6 and 12 months?
3 Months:
Complete the phase two open pit transition into higher grade ore at our producing Isabella Pearl mine.
6 Months:
Continue to move our Golden Mile property towards a production decision.
12 Months:
Increased annual revenue over the prior year from our producing Isabella Pearl mine after accessing higher grade ore in our open pit by the end of Q1.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Key risks include building our proposed second mine (Golden Mile) in Nevada, U.S.A. during this inflationary and supply chain environment that looks to be gaining momentum in the years to come. We look to overcome this challenge by making a production decision at Golden Mile as soon as possible. As well as locking in the project CAPEX as much as possible by purchasing equipment in the near future before equipment prices substantially rise.
What do you think makes your company such a compelling investment?
Fortitude Gold transcends being just a gold equity investment by distributing substantial monthly dividends and garnering the market premium yield valuations.
What are the top key investor takeaways?
1) Profitable gold producer
2) Monthly cash dividends paid to shareholders
3) Portfolio of 5 high-grade properties (100% owned) with surface and near surface gold for long term production, growth and dividend distributions