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part of it is the exchange they are on They need to upgrade to the other otc nasdax exchange. Some institution won't buy anything on this exchange. Mean while I pick up cheap sahres as in the future thye will upgrade most likely when they open the next mine. Then they could do a split too jmo
With only 24 million shares outstanding, FTCO trades less than 40K shares a day. If they bought back stock, you'd need an appointment to trade your shares. It actually might help the stock price if they split the stock to create more trading volume - and interest.
Dino
Lowjack, I am a bit confused on the geography here. Any chance this in not "our" Golden Mile but one located in Canada? Article is confusing to me.
No soup for you!
Asked Greg at what point do we buyback stock since we have negative price not positive stock price momentum! Answer Not in the plans.... Uh not what I wanted to hear. Pretty disappointing since we are losing more share value than we are earning in divvies plus the $40 million sitting in cash at last look Plus as we all know capital gains are taxed less than divvies so I do prefer them especially since I still have some carryover losses from GORO to neutralize. Sorta makes me wonder what the bigger plan if any exists to maximize shareholder value vs Mgmt. compensation. Hopefully we can get a bigger picture reason why fewer shares and a higher price are verboten.
Next time you talk to Greg, tell him that Allan has been sniffing around the area of the two top right properties.
Just pick it up and put it in your back pocket!
https://goldnfuturesmineralcorp.com/news-releases/goldn-futures-signs-definitive-option-agreement-to-acquire-up-to-90-of-hercules-gold-project/
The company on the other side of the deal should be known to Jason.
I'm sure they are keeping their eyes pealed for good cheap near production assets! Could be quite a few that get themselves in trouble over the next 18 months because they didn't sit on enough cash and watch their spending! Also don't ignore large currency fluctuations to pick stuff up on a discount!
Bill, time to go to work!
You can't be retired all the time!
thanks for that post interesting what they will be doing. Smart business people keep cash for the future development is the right decision.
Was lucky to catch up with Greg and he was most accomodative with his time and responses to my questions
Greg; Sorry I missed your call this a.m. Tried to call you back a couple of times, but phone not connecting. Based on that, I thought I would just put a quick email together for you.
Question 1: With +$40M in the bank and no debt, should FTCO buyback shares or increase dividend?
Greg: We are in a great position cash wise. Right now our thoughts are that a buyback may not be positive because we already have such a small float of shares that trade. In regards to increasing the dividend, I think the gold price would be the biggest driver of that. Keep in mind we hope to be building our next mine at Golden Mile in the near term, which could take $25 - $30M (and this is only a guess….). We want to build Golden Mile from our cash, so keeping a strong cash balance would be important. If gold prices were to spike higher, we could see substantially higher profits, which in turn could allow the Board to boost the dividend.
Question 2: Any increase to production near term?
Greg: The plan right now is to keep production at 40K ounces per year with the Isabella Pearl. The Golden Mile could put the Company in a position where it could look at increasing annual production, which would assume the Isabella Pearl project would not close down in mid-2025, but would remain in some sort of production with ore feed from future discoveries on the Isabella Pearl trend and/or the County Line property.
Question 3: Any plans to uplist?
Greg: FTCO will more than likely up list at some point to the NYSE. We could uplist today, but we would rather look to have a catalyst of some sort to accompany (such as future exploration discoveries, future development opportunities, potential M&A opportunities, etc.). I think an eventual uplist could be a real positive for the Company, but many shareholders put too much weight in an uplist and its potential benefits. Companies still have to perform whether they are on the OTC or NYSE.
Question 4: Dividend – current payout ratio is +/- 40% where do you see it going from here
The current dividend distribution seems pretty reasonable at today’s profit levels. Going back to your first question, many shareholders ask if may make sense to hike the dividend. We could increase the dividend, but we need to keep in mind having enough capital to invest back into the business, whether it is building Golden Mile, drilling Isabella Pearl, Golden Mile, East Camp Douglas and now County Line. All of these properties have so much potential, but we need to invest capital to unlock their potential.
All the best.
Greg Patterson
Re: Have Fortitude. Good as Gold
Post by 8thaero » Tue Aug 16, 2022 12:16 pm
EXCELLENT stuff and was NOT AWARE They had ths old mine way up I-80 N of Lovelock. 8
https://www.accesswire.com/712234/Forti ... erProperty
https://www.bing.com/maps?&ty=18&q=roch ... ORM=SNAPST
wish they would put this stock on a better exchange to attract more mutal funds.
Thanks Lowjack looks like they will be producing for several years to come. As P of G goes up so will our div.
WhooHoo solid news and thanks Fortitude for the solid efforts. Talked to GP after the clueless one had not seen this PR. Greg was usual neutral self answering questions and being helpful but not crowing about what's going on..... So guess I get to celebrate now....Greg did share progress on the extra drilling rigs was looking better and they are looking to add a 4th rig if possible. Crews the issue not hardware. thanks Lowjack . Going to give Greg some BS for at least not suggesting I check the website..
That's a good cup and handle on that frying pan! Time to sizzle up some shorts!
Dino,
Looks to me like FTCO is establishing a mailing list for internal use. Why is a ?????.
Cost? My partial shares .02 divs cost least a buck like clockwork. PLUS a .02 leftover share GORO. Cash when have least 3 mo.
Why is FTCO using ProxyDirect?
It costs them more - postage from the 3rd party to me - and it's harder for me. Are they trying to discourage me from voting? The only things on the ballot are election of Conrad and Reid and agreement of the auditor selection. Yet, they want my email address?
Dino
You make some solid points. Where do we want to be? A fast buck and on to the next option? Or a solid long term investment yielding above average returns relative to the divvies?
In the current and IMO longer term interest rates will be below the historical market mean due to the massive debt and the inability of the goobermints to carry on the debt ponzi without cheap money. We've already seen the suppression of rates for many years and its going to continue IMO. It appears mgmt is looking to market the returns as above market interest rates (divvies) with steady production. I'm good with that strategy as I see nothing but a financial mess ahead. Here we have steady production with low costs and above market returns, NO DEBT! Not to mention the leverage that we have to the Gold and Silver markets should commodity prices reflect the inflation we are already seeing....So a strategy that delivers above market returns (divvie yield) looks reasonable for longer term investors. Especially considering the potential for continued reserve development.
I bought my first house when mortgage rates were 14.9% in 1980 so have seen the other side. I spend a fair amount of time looking at the commodity markets due to my work history where I managed commodity risk for major food commodity processors and users so its a habit...a good and bad....semi curse.
I am a long term P.M. bull. I give mgmt some serious kudos as I think we will continue to see their claim trend yield low cost production and above trend grades. Am mixed about the "Marketing" spin that is being contemplated. At this point I am not fully tuned in so need to get the bigger pic defined by Mr. Patterson.
Best to Fortitude longs
Question: Why television commercials?
Would the money and time to produce this product be better spent on uplisting?
The issue is "major money" institutional investors cannot invest in an OTC exchange. The millions of people with 401k's will not be able to participate AND when they call their fund administrators, they will be told they cannot invest in this company because it is listed on the "Stinky Pinky Penny Exchange".
I think Patterson is "over his skis" on this one!
FORTITUDE GOLD FIRST TELEVISION COMMERCIAL
Fortitude Gold has produced its first television commercial. The commercial is tentatively scheduled to air on CNBC March 28 - April 22, 2022.
To view the commercial, click on the following link:
New advertisement just hit for FTCO....I believe this ad is for national distribution over multiple platforms including TV
Be sure to subscribe to FTCO new Youtube Channel. More video's to come soon!
https://www.youtube.com/channel/UCNBunVrhmwlgLosu_NBJRSA
If you see Jason, tell him to reset the web server. Site is down.
Colorado Springs, Colorado – March 7, 2022 – Fortitude Gold Corp. (OTCQB: FTCO) (the “Company”) declares its monthly dividend of $0.04 per common share payable on March 31, 2022 to shareholders of record as of March 21, 2022.
thanks I had to be in a meeting so missed the call.
Glad to hear they are planning to open another mine. That is what is neccessary to keep this splay afloat.
IMO as gold crosses 2000 the sp will climb mean while I get to ad cheap shares.
thanks I had to be in a meeting so missed the call.
Glad to hear they are planning to open another mine. That is what is neccessary to keep this splay afloat.
IMO as gold crosses 2000 the sp will climb mean while I get to ad cheap shares.
JCS,
I think the conference call minutes of March 2nd should help clarify why there is only 25 million OS. Jason spoke about how the company was set up to be not just a gold producer but also a "dividend paying" enterprise. He repeated the $0.48 annual dividend and its 7.5% annual payout many times. He stressed the more shares OS, the more difficult to pay a really large dividend. He did say for now, there will not be any dividend increase.
Jason said they must retain cash on hand to meet the new mine expansion costs and guard against rising inflation. He stated they have already purchased some of the mine equipment for Golden Mile even though the CAPEX has not been approved. He commented equipment producers only give bids now for equipment purchases valid for a week instead of the usual month. That is how fast this "inflation issue" is moving in the business world.
Solid quarter and sounds like they are continuing to add to the portfolio. Will continue to deploy some capital here. Overall looks and sounds like its going to be a WINNER for years. Jason has shared some of the tactics and properties they are going to make happen. Got me even more enthused.
https://www.fortitudegold.com/news/fortitude-gold-announces-year-end-2021-conference-call
Solid quarter and sounds like they are continuing to add to the portfolio. Will continue to deploy some capital here. Overall looks and sounds like its going to be a WINNER for years. Jason has shared some of the tactics and properties they are going to make happen. Got me even more enthused.
https://www.fortitudegold.com/news/fortitude-gold-announces-year-end-2021-conference-call
Solid quarter and sounds like they are continuing to add to the portfolio. Will continue to deploy some capital here. Overall looks and sounds like its going to be a WINNER for years. Jason has shared some of the tactics and properties they are going to make happen. Got me even more enthused.
https://www.fortitudegold.com/news/fortitude-gold-announces-year-end-2021-conference-call
Earnings out!
Sounds like divi could double at full run on 2nd mine.
https://app.quotemedia.com/data/downloadFiling?webmasterId=96484&ref=116509488&type=PDF&symbol=FTCO&companyName=Fortitude+Gold+Corp+Com&formType=8-K&formDescription=Current+report+pursuant+to+Section+13+or+15%28d%29&dateFiled=2022-03-01&CK=1828377
Earnings should be $0.85-$1 for the full year.
https://app.quotemedia.com/data/downloadFiling?webmasterId=96484&ref=116224034&type=PDF&symbol=FTCO&companyName=Fortitude+Gold+Corp+Com&formType=10-Q&formDescription=General+form+for+quarterly+reports+under+Section+13+or+15%28d%29&dateFiled=2021-11-02&CK=1828377
Twitchy FAT finger ready!
thanks I was looking at Yahoo finance which has the eps at .64 Schab has a high number. Whiththat higher earnings I wonder if they won't increase the div again. I think there is an up coming earning call or managment update call
Right from the folks at Charlie Schwab
Earnings TTM (GAAP)
Earnings Table
Earnings Per Share (N/A) $1.127
Price/Earnings 5.64
Forward P/E --
Price to Earnings / Growth (PEG)
--
Dividends as of 02/25/2022
Details
Dividends Table
Monthly Dividend $0.04
Annual Dividend Rate (IAD)Help
$0.48
Annual Dividend YieldHelp
7.55%
Previous Ex-Date Feb 17, 2022
Previous Pay Date Feb 28, 2022
Shares
Market Capitalization Table
Market Capitalization
(Micro Cap)
$152.4M
Enterprise Value $108.3M
Shares Outstanding 23.96M
Shares Held By Institutions 4%
Short Interest (as of --) --
what is this stock with only 25 million shares os?
what is that stock with a PE of 5 FTCO is 9.91
Obviously with a PE of 5 its already oversold or underappreciated. Boggles my mind it could be so CHEAP. Its my Nummero Uno you would have to be out of your mind to short this or not buy it. So why is it so CHEAP?
Low!!!!
With only 25 million shares outstanding, it would be really risky to short this stock. Any positive news would be a disaster for the "shorter".
I seem to remember they have 3 drilling rigs. Issue is no available crews so can't utilize #3. AKA not enough drilling crews due to labor demand. Which is no surprise given what is going on at Tonopah and other drilling sites in Nevada. Will have to disagree with you on the share count being to tight at ~25 million for them to buy shares. I might agree if the stock was $25 but not at $6.30 With so many flat pricing commission trading transaction costs are pretty minimal for most.
Less than 25Million shares, so I don't see him doing that. Miner ETF's have some work to do on their charts, they are coming around though. Too early to be thinking of shorting this current move.(Accumulating) Yes, low cost to double production y/y. He could/should just buy a few Drilling rigs to have on hand.
I do see a couple of acquisition targets that may be picked up on the cheep if he so chooses, would like to keep the share count low and not burn through the cash before the other mines are up and running.
Earnings should get us out of this consolidation.
Lowjack thanks for the updates. Seems like every time we start to get some mojo going on the stock we get aggressive selling to push it back or stymie the gains and disappoint the longs...like today... Have heard the long the PHYZ and short the stock(s) overall strategy for the sector any opinion on that?. Any guess on how long Jason and team keep stashing cash vs. buying back the stock? Realize we have committed to developing the new projects but look to be fairly low investments to get the assets going as well as again low cost production. Or is it all about the years of production we still have to prove up? I think at about $8-$10, Plus all the cash we have that discounted fairly but what do others think?
I have continued to grow my position by new purchasing as well as re-investing the divvies. As I see retirement towards the end of this year my cash flows will not be as abundant as current allocations to FTCO allow.
KC
You are ABSOLUTELY CORRECT it is RESERVES_RESERVES_RESERVES that is holding this stock down. I await news in March about the progress on the new mine and an update on the gold resources. But you are correct the time is now to add to one's holdings. I added last week and will add in the future at these prices. The drop-dead date for adding this month is Thursday, February 17th. I am greedy about dividends and want them all.
Hey fellow Tudeders. Talked recently GP and lots going on. Hope to not be redundant with any of these points Obviously we are seeing sellers show up most days to push price down. My guess is most is related to our stated reserves and the pipeline beyond At present we are still constrained by the lack of drilling rigs available with crews. We are continuing to work with the current rigs and also working to get additional crews. Its definitely a challenge. Obviously we have a great footprint with solid grades and options. Yes I hate being patient but still adding to my shares. Even with that reserves challenge the price is rediculously cheap. Seems that we have options beyond the current stated reserves as we can revisit a pit previously mined that has about 50K oz.. I am confident we have a number of good potential low or no sulfide options that will extend our reserves significantly.
Jason likes to tell us that one of the appeals of Fortitude is the divvie and I totally agree. However I also think a strong portion of those seeking income also want the security of how long they will payout those divvies. At present perhaps again at the uncertain reserves picture they have slowed down or sold some shares. One other option is shares are being shorted while them AU price keeps going up to hedge some physical positions. Either way still have the confidence that the reserves are being uncovered and verified just not as fast as some want.
I'm still hanging my hat on a comment Jason made not long ago. Paraphrased " I'm so glad we were able to purchase this resource when we did as we would not be able to afford it now" We are being well compensated for our patience. Would appreciate updates as soon as they are practical as well as a bit more discussion on the future beyond the next quarter or two.
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We aim to leverage our tight capital structure from which to distribute outsized dividends.
Our strategy targets not only gold investors but the much larger pool of global investor capital chasing dividends and yield.
Fortitude Gold is well positioned to garner both gold equity valuations and obtain the market premium yield valuations.
Substantial dividends seek transcendence from solely a gold equity investment.
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