earnings
confidence high
sentiment positive
materiality 0.70
Fortitude Gold Q1 net income $0.11/sh, gold output 9,875 oz, maintains 2022 outlook
Fortitude Gold Corp
2022-Q1 EPS reported
$0.11
revenue$15,361,000
- Net sales $15.4M, net income $2.6M ($0.11/sh), cash $36.3M, working capital $75.7M.
- Produced 9,875 gold oz; sold 8,297 oz at total cash cost $708/oz and AISC $848/oz.
- Maintains 2022 production outlook of 40,000 oz gold (range 36,000-40,000).
- Transitioned to open-pit phase two mining; expects lower waste and higher free cash flow from high-grade pearl zone ore.
- Realized gold price averaged $1,863/oz; mine gross profit $6.8M.