v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 10,025 $ 4,656
Gold and silver rounds/bullion 3,524 3,336
Inventories 26,547 29,312
Prepaid taxes 450 450
Prepaid expenses and other current assets 729 867
Total current assets 41,275 38,621
Property, plant and mine development, net 44,452 46,213
Leach pad inventories 59,161 50,291
Other non-current assets 1,070 1,060
Total assets 145,958 136,185
Current liabilities:    
Accounts payable 2,563 1,468
Finance lease liabilities, current 7,220 7,208
Other current liabilities 194 397
Total current liabilities 9,977 9,073
Finance lease liabilities, net of current portion 10,174 11,882
Asset retirement obligations 11,290 10,856
Total liabilities 31,441 31,811
Shareholders' equity:    
Preferred stock - $0.01 par value, 20,000,000 shares authorized and nil outstanding at March 31, 2026 and December 31, 2025
Common stock - $0.01 par value, 200,000,000 shares authorized and 27,189,528 shares outstanding at March 31, 2026 and 24,375,209 shares outstanding at December 31, 2025 272 244
Additional paid-in capital 118,901 106,882
Accumulated deficit (5,165) (2,752)
Fortitude shareholders' equity 114,008 104,374
Noncontrolling interest 509  
Total shareholders' equity 114,517 104,374
Total liabilities and shareholders' equity $ 145,958 $ 136,185