FTCO - Fortitude Gold: End Of The Line As Q4 Gold Production Slumps
2024-01-31 08:00:53 ET
Summary
- The gold production at Isabella Pearl in Q4 2023 was just 5,703 ounces, which represents a 52.4% slump from a year earlier.
- In my view, the mine is starting to run out of high-grade gold, and none of the satellite deposits are near production.
- I think that the company might have to shut down mining operations in the coming months and suspend its monthly dividend.
Introduction
I've written a total of three articles on SA about Fortitude Gold (FTCO), the latest of which was in April 2023 when I said that high-grade reserves were down to below 40,000 ounces of gold and that all-in sustaining costs (AISC) could increase substantially in 2024 or 2025....
Fortitude Gold: End Of The Line As Q4 Gold Production Slumps