Jim Blanchard's questions to Fortitude Gold (FTCO) leadership • Q1 2025
Question
Jim Blanchard from Helvetia Equity Management questioned the significant year-over-year increase in all-in sustaining costs (AISC) and asked for an update on the permitting status with the state of Nevada for the County Line project.
Answer
Executive Jason Reid explained that higher AISC is due to mining lower-grade ore and moving substantial waste to access the Isabella Pearl deep zone, an activity that incurs costs without immediate gold production. Regarding Nevada permits, Reid noted a positive shift in the local BLM's attitude and staffing but highlighted that the federal BLM leadership position is still vacant, creating some uncertainty.