COLORADO SPRINGS, CO / ACCESSWIRE / October 31, 2023 / Fortitude Gold Corporation (OTCQB:FTCO) (the "Company") reported results for the third quarter ended September 30, 2023, including $21.3 million net sales, $5.7 million net income, or $0.24 per share, and increased its cash balance to $52.0 million at quarter end. The Company produced 11,122 gold ounces during the third quarter and maintains its 2023 production outlook. Fortitude Gold is a gold producer, developer, and explorer with operations in Nevada, U.S.A. offering investors exposure to both gold production and dividend yield.

THIRD QUARTER 2023 FINANCIAL RESULTS AND HIGHLIGHTS

$21.3 million net sales
$5.7 million net income or $0.24 per share
$52.0 million cash balance on September 30, 2023
11,122 gold ounces produced
2.04 grams per tonne average gold grade mined
$98.1 million working capital at September 30, 2023
$11.8 million mine gross profit
$3.8 million exploration expenditures
$547 total cash cost after by-product credits per gold ounce sold
$651 per ounce total all-in sustaining cost
$2.9 million dividends paid
Fortitude Gold sold 11,042 gold ounces at a total cash cost of $547 per ounce (after by-product credits) and an all-in-sustaining-cost per ounce of $651. Realized metal prices during the quarter averaged $1,931 per ounce gold*. The Company recorded net income of $5.7 million, or $0.24 per share and reported cash and cash equivalents at quarter end of $52.0 million. The Company produced 11,122 ounces of gold during the quarter, 32,293 ounces of gold year-to-date, and maintains its 2023 Annual Outlook targeting 40,000 gold ounces (a range of 36,000 to 40,000 ounces).

"The third quarter was another strong quarter on numerous fronts including production, sales, income, and profitability that allowed us to increase our cash balance by over five million dollars," stated Mr. Jason Reid, CEO and President of Fortitude Gold. "We are on pace to reach our annual production goals and continue with an aggressive drill program which has discovered additional mineralization on the Isabella Pearl trend as we await assay results from our recent East Camp Douglas drill campaign." see & read more on
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