Fortitude Gold Receives Power Grid Approval
Rhea-AI Summary
Fortitude Gold (OTCQB:FTCO), a gold producer in Nevada, has received Bureau of Land Management approval for its Isabella Pearl powerline project. The categorical exclusion authorization allows NV Energy to connect the Isabella Pearl Mine to the local power grid. The company is now working with NV Energy to establish a pre-construction schedule for the connection project.
This development represents a significant step forward for Fortitude Gold's operations, as it will help reduce energy costs at the Isabella Pearl Mine. The approval marks the clearance of previously delayed permits, suggesting potential improvements in the permitting process for future projects.
Positive
- Connection to power grid will reduce energy costs at Isabella Pearl Mine
- Regulatory approval received for powerline project
- Progress in clearing delayed permits suggests faster approvals for future projects
Negative
- Timeline for project completion not yet established
News Market Reaction 1 Alert
On the day this news was published, FTCO declined 0.42%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
COLORADO SPRINGS, CO / ACCESS Newswire / August 5, 2025 / Fortitude Gold (OTCQB:FTCO) (the "Company") today announced the Bureau of Land Management published a categorical exclusion authorization for the Isabella Pearl powerline project, which grants approval to NV Energy to connect the Isabella Pearl Mine to the local power grid. Fortitude Gold is a gold producer, developer, and explorer with operations in Nevada, U.S.A. offering investors exposure to both gold production and dividend yield.
The Company is currently in discussions with NV Energy to set a pre-construction schedule and timeline for the connection project.
"We look forward to lowering our energy costs and are pleased to watch this federal administration clear out the legacy Biden permit backlog," stated Fortitude Gold CEO and President, Mr. Jason Reid. "It is great to see this long-delayed project finally move forward with approval and we are optimistic that future permitting will move forward in a more expedited way."
About Fortitude Gold Corp.:
Fortitude Gold is a U.S. based gold producer targeting projects with low operating costs, high margins, and strong returns on capital. The Company's strategy is to grow organically, remain debt-free, and distribute dividends. The Company's Nevada Mining Unit consists of seven high-grade gold properties located in the Walker Lane Mineral Belt and an eighth high-grade gold property in west central Nevada. The Isabella Pearl gold mine, located on the Isabella Pearl mineralized trend, is currently in production and County Line is our next targeted mine build. Nevada, U.S.A. is among the world's premier mining friendly jurisdictions.
Cautionary Statements: This press release contains forward-looking statements that involve risks and uncertainties. If you are risk-averse you should NOT buy shares in Fortitude Gold Corp. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "plan", "target", "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding the Company's strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material are forward-looking statements. All forward-looking statements in this press release are based upon information available to the Company on the date of this press release, and the Company assumes no obligation to update any such forward-looking statements.
Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release. In particular, the scope, duration, and impact of the COVID-19 pandemic on mining operations, Company employees, and supply chains as well as the scope, duration and impact of government action aimed at mitigating the pandemic may cause future actual results to differ materially from those expressed or implied by any forward-looking statements. Also, there can be no assurance that production will continue at any specific rate.
CONTACT:
Greg Patterson
719-717-9825
greg.patterson@fortitudegold.com
www.Fortitudegold.com
SOURCE: Fortitude Gold Corp
View the original press release on ACCESS Newswire
FAQ
What approval did Fortitude Gold (FTCO) receive for its Isabella Pearl Mine?
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