Gold Resource board approves Fortitude Gold spinoff

By Wayne Heilman December 22, 2020 | updated 6 years ago

Gold Resource is spinning off its Nevada mining operations, above, into a separate public company and retaining its mines in Mexico. Much of the company’s management, including CEO Jason Reid, will move to the new company, temporarily named Nevada Spinco, while Gold Resource is seeking a new CEO and one or two board members.
Courtesy of Gold Resource

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Directors of Colorado Springs-based Gold Resource have approved spinning off the company’s Nevada gold mining operations into a separate company called Fortitude Gold.

Colorado Springs Gold Resource spinoff to be called Fortitude Gold

Gold Resource shareholders will receive one share of Fortitude Gold on Dec. 31 for every 3.5 shares of Gold Resource stock they own as of Dec. 28 and do not have to take any action to receive the shares, the company said in a news release. Fortitude Gold must still get approval from Financial Industry Regulatory Authority and the OTC Markets Group to begin publicly trading under a yet-to-be-announced stock symbol.

Wayne Heilman, The Gazette