Fortitude Gold Corp (FTCO)

[Neverhadawinner]

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.