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FTCO on OTC

Fortitude Gold Corp

American Gold and Silver Ores company based in Colorado Springs1

In its 2026 annual report the company says: “We are a mining company which pursues gold and silver projects that are expected to have both low operating costs and high returns on capital. We are presently focused on mineral production from our Isabella Pearl Mine in Nevada. We also continue exploration and evaluation work on our portfolio of other precious metal properties in Nevada and continue to evaluate other properties for possible acquisition.”4 Its shares trade on OTC under the symbol FTCO.1

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Last updated Oct 21, 2026.

Overview

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  • TickerFTCO on OTC1
  • IndustryGold and Silver Ores1
  • HeadquartersColorado Springs, Colorado1
  • Incorporated inCO2
  • Business address723 South Cascade Ave., Colorado Springs, Co 809032
  • Filer categoryNon-accelerated filer, Smaller reporting company2
  • Legal formCorporation

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Fortitude Gold Corporation was organized under the laws of the State of Colorado on August 11, 2020. In this report, “Company,” “our,” “us” and “we” refer to Fortitude Gold Corporation together with its subsidiaries, unless the context otherwise requires.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

54.1%Gross margin5
2.3%Net margin5
-50.7%Revenue growth, 20255
0.4%Return on equity5
-$15.0MFree cash flow5

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue1¢$268.0K
  • Other costs96¢$17.7M
  • Income tax0¢$20.0K
  • Profit2¢$420.0K

Out of $18.4M in revenue.5

Financial statements

Revenue67895$18.4M in 2025−66% since 2020
0$25.0M$50.0M$75.0M$100.0M2020: $54.0M$54.0M20202021: $82.1M$82.1M2021+52%2022: $74.4M$74.4M2022−9%2023: $73.1M$73.1M2023−2%2024: $37.3M$37.3M2024−49%2025: $18.4M$18.4M2025−51%
Gross profit67895$10.0M in 2025−38% since 2020
0$20.0M$40.0M$60.0M2020: $16.2M$16.2M20202021: $40.6M$40.6M2021+151%2022: $35.4M$35.4M2022−13%2023: $41.2M$41.2M2023+16%2024: $18.3M$18.3M2024−56%2025: $10.0M$10.0M2025−46%
Net income67895$420.0K in 2025−96% since 2020
-$5.0M0$5.0M$10.0M$15.0M$20.0M2020: $10.2M$10.2M20202021: $17.9M$17.9M2021+75%2022: $14.7M$14.7M2022−18%2023: $17.0M$17.0M2023+16%2024: -$2.0M-$2.0M20242025: $420.0K$420.0K2025

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Sales, net$18.4M$37.3M
Production costs$6.1M$12.9M
Depreciation and amortization$2.2M$5.9M
Reclamation and remediation$156.0K$242.0K
Total mine cost of sales$8.4M$19.0M
Mine gross profit$10.0M$18.3M
General and administrative expenses$4.9M$5.9M
Exploration expenses$6.3M$12.9M
Facilities and mine construction$616.0K
Other income, net-$2.3M-$1.9M
Total costs and expenses$9.5M$16.9M
Income before income and mining taxes$440.0K$1.4M
Mining and income tax expense$20.0K$3.4M
Net income (loss)$420.0K-$2.0M
Net income (loss) per common share, Basic$0.02-$0.08
Net income (loss) per common share, Diluted$0.02-$0.08
Weighted average shares outstanding, Basic24.3M shares24.2M shares
Weighted average shares outstanding, Diluted24.6M shares24.2M shares

Compare Fortitude Gold Corp with another company

Corporate structure

Fortitude Gold Corp sits at the top of its group. 7 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

  • Fortitude Gold Corp Colorado Springs, Colorado
    • County Line Holdings Inc. Subsidiary · Nevada, United States
    • County Line Minerals Corp. Subsidiary · Nevada, United States
    • East Camp Douglas, LLC Subsidiary · Nevada, United States
    • Golden Mile Minerals Corp. Subsidiary · Nevada, United States
    • GRC Nevada Inc. Subsidiary · Nevada, United States
    • Walker Lane Minerals Corp. Subsidiary · Nevada, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Fortitude Gold Corp reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$121.2M5 Dec 31, 2025$99.0M5 Dec 31, 2024+22.4%
Accumulated depreciation$74.9M5 Dec 31, 2025$72.7M5 Dec 31, 2024+3.1%
Property and equipment, net$46.2M5 Dec 31, 2025$26.3M5 Dec 31, 2024+75.8%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$4.7M5 Dec 31, 2025$27.1M5 Dec 31, 2024−82.8%

Inventory

ItemLatestA year beforeChange
Inventory, total$29.3M5 Dec 31, 2025$11.6M5 Dec 31, 2024+151.8%

Properties, in its own words

Properties Overview

We own eight properties in Nevada, U.S.A., which are classified into three stages—Production, Development, and Exploration—based on the definitions set forth in the Securities and Exchange Commission’s Regulation S-K, Subpart 1300 (“SK-1300”). Under this framework, the Isabella Pearl Mine is classified as a Production stage property, as it is an active mining operation with proven and probable mineral reserves. The Company’s remaining properties, including County Line, Golden Mile, East Camp Douglas, Mina Gold, Dauntless, Intrepid, and Ripper, are classified as Exploration stage properties, as proven and probable mineral reserves have not yet been established for these properties. Although County Line is currently being mined based on measured and indicated mineral resources, it continues to be classified as an Exploration stage property under this framework. We consider Isabella Pearl, County Line, and Golden Mile to be material properties under SK-1300 due to Isabella Pearl and County Line having operations and Golden Mile being in the mineral resource definition, engineering, and permitting phase. Our other properties are not considered material due to their earlier stages of exploration. As of the date of this report, we do not have Development stage properties.

The rest of Item 2

Cumulatively, the main properties we own encompass 2,740 claims, which include 2,645 unpatented lode and placer mining claims, and 95 mill site claims, covering approximately 49,996 acres (20,431 ha). An unpatented mining claim is a particular parcel of Federal land that is managed by the Bureau of Land Management (“BLM”) and conforms to the Mining Law of 1872, in which the owner (locator) has the right to explore, develop, and extract minerals. Unpatented mining claims are subject to yearly maintenance fees. In 2025, we paid approximately $725,000 in annual maintenance fees to various counties and the BLM.

We also own 22 patented mining claims and lease an additional patented mining claim. A patented mining claim is one for which the Federal Government has passed its title to the claimant, giving the claimant exclusive title to the locatable minerals and, in most cases, the surface and all resources. The patented mining claims that we own cover approximately 180 acres. In addition, we own 202.5 acres of fee lands in Mineral County, Nevada. Patented claims and fee lands, unlike unpatented claims, pass title to the holder. The patented claims and fee lands are subject to payment of annual property taxes made to the county where they are located. Annual property taxes on our patented claims and fee lands have been paid through June 30, 2026.

All our properties, with the exclusion of the Ripper project, are in the Walker Lane Mineral Belt, which is a major fault zone that is generally aligned parallel to the California/Nevada border. There have been many precious metal discoveries in this deformation belt that has led to it being called the Walker Lane Mineral Belt. Historically, several districts were mined along this corridor, such as Paradise Peak, Borealis, Bodie, Tonopah, Goldfield and Bullfrog. Commonly, the precious metal deposits are hosted by epithermal style ore deposits; mineralization is typically hosted in silica veins and disseminated in volcanic style units. Other styles of ore deposits, such as skarn, are also identified in the Walker Lane Mineral Belt. Skarn deposits are different from epithermal-style deposits, in that precious metal mineralization is associated with igneous intrusions that have injected into carbonate and clastic units.

The map below shows the location of the eight properties in Nevada. The Isabella Pearl, Golden Mile, East Camp Douglas, Mina Gold, and Intrepid properties are all wholly located in Mineral County. County Line straddles Mineral and Nye counties, while Dauntless is in Esmeralda County, and Ripper straddles Pershing and Churchill counties.

Glossary of Terms

ADR: An adsorption, desorption, and recovery (“ADR”) facility which recovers gold from the leached pregnant solution.

Cut-off grade: The grade (i.e., the concentration of metal or mineral in rock) that determines the destination of the material during mining. For purposes of establishing “prospects of economic extraction,” the cut-off grade is the grade that distinguishes material deemed to have no economic value (it will not be mined in underground mining or if mined in surface mining, its destination will be the waste dump) from material deemed to have economic value (its ultimate destination during mining will be a processing facility). Other terms used in similar fashion as cut-off grade include net smelter return, pay limit, and break-even stripping ratio.

Development stage property: A property that has mineral reserves disclosed, but no material extraction.

Dore: Composite gold and silver bullion usually consisting of approximately 90% precious metals that will be further refined to separate pure metals.

Epithermal deposits: Hydrothermal mineral deposits that form over the temperature range of <150°C to approximately 300°C from the surface to a depth of 1 to 2 km. There are two endmember deposit styles in this classification: high-sulfidation where highly acidic fluids are developed that leach surrounding rocks; and low-sulfidation systems where the fluids range in pH from near-neutral to reducing. Both deposit styles can be mineralized, with gold commonly being the dominant economic metal.

Exploration: Prospecting, sampling, mapping, diamond-drilling and other work involved in locating the presence of economic deposits and establishing their nature, shape, and grade.

Exploration stage property: A property that has no mineral reserves disclosed.

FAST-41 Transparency Project: FAST-41 Transparency projects are infrastructure projects directed by the Executive Director of the Permitting Council to be posted on the Dashboard in the interest of transparency.

Item 2 of the 10-K filed Mar 3, 2026.4

Leadership

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerAllan H.N. Turner named Jun 9, 202612
  • Executive OfficerGregory A Patterson named Jun 9, 202612
  • Executive OfficerJanet H.N. Turner named Jun 9, 202612
  • Executive Officer, Director, PromoterJason D Reid named Feb 18, 2026 to Jun 9, 202612
  • Director, PromoterBill M Conrad named Jun 9, 202612

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • County Line Holdings Inc. Nevada3
  • County Line Minerals Corp. Nevada3
  • East Camp Douglas, LLC Nevada3
  • Fortitude Gold Corporation Colorado3
  • GRC Nevada Inc. Nevada3
  • Golden Mile Minerals Corp. Nevada3
  • Walker Lane Minerals Corp. Nevada3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Aug 4, 20268-K Results of operations13
  2. Jun 5, 20268-K Unregistered sale of shares14
  3. May 22, 20268-K Shareholder vote15
  4. May 14, 20268-K Entered a material agreement16
  5. May 11, 20268-K Results of operations17
  6. Mar 3, 20268-K Results of operations18
  7. Mar 2, 20268-K Entered a material agreement; Other events19
  8. Feb 18, 20268-K Unregistered sale of shares20
  9. Nov 4, 20258-K Results of operations21
  10. Aug 5, 20258-K Results of operations22
  11. May 23, 20258-K Shareholder vote23
  12. Apr 29, 20258-K Results of operations24

Calendar

Coming up

  1. Around Oct 28, 2026Next results, estimated About a quarter after its last report. The company hasn't announced the date.

When it reported results

  1. Aug 4, 2026Reported quarterly or annual results13
  2. May 11, 2026Reported quarterly or annual results17
  3. Mar 3, 2026Reported quarterly or annual results18
  4. Nov 4, 2025Reported quarterly or annual results21
  5. Aug 5, 2025Reported quarterly or annual results22
  6. Apr 29, 2025Reported quarterly or annual results24
  7. Feb 25, 2025Reported quarterly or annual results25
  8. Nov 5, 2024Reported quarterly or annual results26

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

90 filings to the SEC since October 2021: 8 annual reports, 15 quarterly reports, 33 major events, 2 private raises, 32 other. The latest 20:

  1. Aug 4, 20268-K EDGAR
  2. Aug 4, 202610-Q EDGAR
  3. Jun 12, 2026144 EDGAR
  4. Jun 9, 2026D EDGAR
  5. Jun 5, 20268-K EDGAR
  6. May 22, 20268-K EDGAR
  7. May 14, 20268-K EDGAR
  8. May 11, 20268-K EDGAR
  9. May 11, 202610-Q EDGAR
  10. Apr 6, 2026144 EDGAR
  11. Apr 2, 2026DEFA14A EDGAR
  12. Apr 2, 2026DEFA14A EDGAR
  13. Mar 3, 20268-K EDGAR
  14. Mar 3, 202610-K EDGAR
  15. Mar 2, 20268-K EDGAR
  16. Feb 18, 2026D EDGAR
  17. Feb 18, 20268-K EDGAR
  18. Dec 8, 2025144 EDGAR
  19. Nov 4, 20258-K EDGAR
  20. Nov 4, 202510-Q EDGAR

The 90 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$17.5M 2026–2026
Money received by yearMoney received by year, 2026–2026: $17.5M in all. Private raises (Form D) $17.5M.$0$5M$10M$15M$20M2026 · Private raises (Form D): $17.5M2026
Figures by year
YearPrivate raises (Form D)Total
2026$17.5M$17.5M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Jun 2, 2026Raised $5.5 million in a private offering of equity12 Form D: 1 investor so far Form D
  2. Feb 3, 2026Raised $12 million in a private offering of equity27 Form D: 32 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Ancora Advisors LLC44,510$222.1K0.0%No change
GAMMA Investing LLC248$1.2K0.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Fortitude Gold Corp is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARFortitude Gold Corp1
  • CIK0001828377
  • Employer ID (EIN)85-26026914
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inColorado4
  • Fiscal year endsDecember 311
  • Industry code (SIC)1040 Gold and Silver Ores1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business address723 South Cascade Ave., Colorado Springs, CO 809031
  • Phone30332077081
  • Shares outstanding28,590,128 as of Aug 3, 202611
  • Public float$82.0M as of Jun 30, 20254
  • AuditorHaynie, Salt Lake City, Utah PCAOB ID 457; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceOct 19, 20201
  • Filings115 in all: 8-K (41), 10-Q (17), 144 (15), CORRESP (9), UPLOAD (8), 10-K (6), DEFA14A (6), S-1/A (4)1
    All 13 form types

    10-K/A (3), D (3), EFFECT (1), S-1 (1), S-8 (1)

  • Latest filingsAnnual report (10-K) Mar 3, 2026
    Quarterly report (10-Q) Aug 4, 2026
    Latest 8-K (8-K) Aug 4, 2026

Securities registered for trading

ClassSymbolExchange
N/ANONE

From the cover page of the 10-K filed Mar 3, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Fortitude Gold Corp names in Item 1A of its 10-K filed Mar 3, 2026: 35 risks under these headings, as written.4

  • Financial Risks
  • Our results of operations, cash flows and the value of our properties are highly dependent on the market prices of gold and to a lesser extent silver and these prices can be volatile.
  • We may not continue to be profitable.
  • We may require significant additional capital to fund our business plans.
  • If we do not hedge our exposure to fluctuations in gold and silver prices, we may be subject to significant reductions in price.
  • Competition in the mining industry is intense, and we have limited financial and personnel resources with which to compete.
  • Our ability to recognize the benefits of net losses is dependent on future cash flows and taxable income.
  • Our accounting and other estimates may be imprecise.
  • Our continuing reclamation obligations at our operations could require significant additional expenditures.
  • Operational Risks
  • Our production is currently limited to a single mine and any interruptions or stoppages in our mining activities would adversely affect our revenue.
  • Our current property portfolio is limited to one producing property and our ability to remain profitable over the long-term will depend on our ability to expand and /or discover new deposits on this property, and /or identify, explore, discover, delineate, permit and develop additional properties.
The other 25 risks
  • Estimates of proven and probable reserves and measured and indicated resources are uncertain and the volume and grade of ore recovered may vary from our estimates.
  • If we are unable to achieve anticipated gold and silver production levels, our financial condition and results of operations will be adversely affected.
  • Revenue from the sale of doré may be adversely affected by loss or damage during shipment and storage at our buyer’s facilities.
  • Exploration and, if deemed feasible, permitting and development of mineral properties is inherently risky and could lead to unproductive properties and/or capital investments.
  • We may acquire additional exploration stage properties and our business may be negatively impacted if reserves are not located on acquired properties.
  • To the extent that we seek to expand our operations and increase our reserves through acquisitions, we may experience issues in executing acquisitions, permitting, mine development and construction or integrating acquired operations.
  • We rely on contractors to conduct a significant portion of our operations and construction projects.
  • Increased operating and capital costs could adversely affect our results of operations.
  • Mining operations are subject to unique risks.
  • The nature of mineral exploration and production activities involves a high degree of risk and the possibility of uninsured losses.
  • We do not, or cannot, insure against all of the risks to which we may be subject in our operations and development.
  • Regulatory Risk Factors
  • Our operations are subject to permitting requirements which could result in the delay, suspension, or termination of our operations.
  • Our activities are subject to significant environmental regulations, which could raise the cost of doing business or adversely affect our ability to develop our properties.
  • Title to mineral properties can be uncertain.
  • Changes in environmental regulations could adversely affect our cost of operations or result in operational delays.
  • Construction of mine and process facilities is subject to all of the risks inherent in construction and start-up, including delays and costs of construction in excess of our projections.
  • Risks Related to Our Common Stock
  • Our stock price may be volatile and as a result you could lose part or all of your investment.
  • Issuances of our stock in the future could dilute existing shareholders and adversely affect the market price of our common stock.
  • Awards of our shares and stock options to employees may not have their intended effect.
  • Our directors and officers may be protected from certain types of lawsuits.
  • We may issue shares of preferred stock that may not be beneficial to the owners of our common stock.
  • Our Shareholder Rights Agreement may not be in the best interest of our shareholders.
  • You may have difficulty depositing your shares with a broker or selling shares of our common stock.
  • General Risk Factors
  • We are dependent upon information technology systems, which are subject to disruption, damage, failure, and risks associated with implementation and integration.
  • We depend upon our management and key employees and the loss of any of these individuals could adversely affect our business.

Sources

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