earnings
confidence high
sentiment positive
materiality 0.75
Fortitude Gold reports record 2021 gold production, net income $0.75/sh, cash $40M, no debt; extends mine life
Fortitude Gold Corp
2021-FY EPS reported
$0.74
revenue$82,109,000
- Record 2021 gold production 46,459 oz, 16% above initial target; net income $17.9M ($0.75/sh) on $82.1M revenue.
- Cash $40M with no debt; all-in sustaining cost $705/oz; monthly dividend $0.48/sh (>7.5% yield).
- Mine life extended beyond full year 2024 at 40k oz/yr run rate; Golden Mile project could add ~3.3 years through 2028.
- Updated reserves 109,700 oz gold; M&I resources 40,800 oz; inferred 14,400 oz; 30,755 oz on heap leach pad.
- 2022 production outlook 40,000 oz gold (range 36k-40k); grid connection to save $80k/month; $5.7M exploration budget.