Fortitude Gold (FTCO) 10-Q 11 May 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	May 10, 2021
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	333-249533
Entity Registrant Name	Fortitude Gold Corp
Entity Incorporation, State or Country Code	CO
Entity Tax Identification Number	85-2602691
Entity Address, Address Line One	2886 Carriage Manor Point
Entity Address, City or Town	Colorado Springs
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80906
City Area Code	719
Local Phone Number	717 9825
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Title of 12(b) Security	N/A
Trading Symbol	N/A
Entity Common Stock, Shares Outstanding		23,961,208
Entity Central Index Key	0001828377
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 35,171	$ 27,774
Accounts receivable	1,659	145
Inventories	27,377	23,051
Prepaid expenses and other current assets	2,142	1,962
Total current assets	66,349	52,932
Property, plant and mine development, net	45,011	50,990
Operating lease assets, net	4,569	6,198
Deferred tax assets	986	959
Other non-current assets	1,951	1,946
Total assets	118,866	113,025
Current liabilities:
Accounts payable	3,254	1,715
Loans payable, current	461	665
Finance lease liabilities, current	288	398
Operating lease liabilities, current	4,569	6,198
Income taxes payable	657
Mining taxes payable	829	1,001
Other current liabilities	692	1,092
Total current liabilities	10,750	11,069
Asset retirement obligations	4,002	3,844
Loans payable, long-term	95	117
Finance lease liabilities, long-term	25	27
Total liabilities	14,872	15,057
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]
Preferred stock - $0.01 par value, 20,000,000 shares authorized and nil outstanding at March 31, 2021 and nil shares authorized and outstanding at December 31, 2020
Common stock - $0.01 par value, 200,000,000 shares authorized and 23,931,208 shares outstanding at March 31, 2021 and 21,211,208 shares outstanding at December 31, 2020	239	212
Additional paid-in capital	103,280	99,682
Retained earnings (accumulated deficit)	475	(1,926)
Total shareholder's equity	103,994	97,968
Total liabilities and shareholder's equity	$ 118,866	$ 113,025

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Condensed Consolidated Balance Sheets
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	20,000,000	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	200,000,000	200,000,000
Common stock, outstanding (in shares)	23,931,208	21,211,208

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Sales, net	$ 20,655	$ 5,857
Mine cost of sales:
Production costs	6,086	4,927
Depreciation and amortization	3,647	1,385
Reclamation and remediation	29	(11)
Total mine cost of sales	9,762	6,301
Mine gross profit	10,893	(444)
Costs and expenses:
General and administrative expenses	6,160	594
Other expense, net	37	48
Total costs and expenses	7,514	819
Income (loss) before income and mining taxes	3,379	(1,263)
Income and mining tax expense	978	125
Net income (loss)	$ 2,401	$ (1,388)
Net income (loss) per common share:
Basic	$ 0.10	$ (139)
Diluted	$ 0.10	$ (139)
Weighted average shares outstanding:
Basic	23,614,466	10,000
Diluted	23,778,014	10,000
Exploration Expenses [Member]
Costs and expenses:
Total costs and expenses	$ 1,317	$ 177

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Common shares	Additional Paid-in Capital	Accumulated Deficit	Total
Balance, at Beginning of period at Dec. 31, 2019		$ 78,083	$ (12,143)	$ 65,940
Balance, at Beginning of period (in shares) at Dec. 31, 2019	10,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Capital contributions by Parent		5,103		5,103
Net income (loss)			(1,388)	(1,388)
Balance, at End of period at Mar. 31, 2020		83,186	(13,531)	69,655
Balance, at End of period (in shares) at Mar. 31, 2020	10,000
Balance, at Beginning of period at Dec. 31, 2020	$ 212	99,682	(1,926)	97,968
Balance, at Beginning of period (in shares) at Dec. 31, 2020	21,211,208
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	$ 22	3,103		3,125
Share-based compensation (shares)	2,220,000
Issuance of shares under private placement	$ 5	495		500
Issuance of shares under private placement (in shares)	500,000
Net income (loss)			2,401	2,401
Balance, at End of period at Mar. 31, 2021	$ 239	$ 103,280	$ 475	$ 103,994
Balance, at End of period (in shares) at Mar. 31, 2021	23,931,208

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net income (loss)	$ 2,401	$ (1,388)
Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation and amortization	3,677	1,422
Stock-based compensation	3,125
Deferred taxes	(27)
Other operating adjustments	17	(11)
Changes in operating assets and liabilities:
Accounts receivable	(1,514)	(169)
Inventories	(1,827)	(603)
Prepaid expenses and other current assets	(180)	82
Other non-current assets	(5)	(251)
Accounts payable and other accrued liabilities	1,187	(1,155)
Mining and income taxes payable	485	125
Net cash provided by (used in) operating activities	7,339	(1,948)
Cash flows from investing activities:
Capital expenditures	(104)	(3,447)
Net cash used in investing activities	(104)	(3,447)
Cash flows from financing activities:
Contributions from GRC		5,103
Issuance of common stock	500
Repayment of loans payable	(226)	(216)
Repayment of capital leases	(112)	(107)
Net cash provided by financing activities	162	4,780
Net increase in cash and cash equivalents	7,397	(615)
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	27,774	866
Cash and Cash Equivalents, at Carrying Value, Ending Balance	35,171	251
Supplemental Cash Flow Information
Interest expense paid	12	27
Income and mining taxes paid	520
Non-cash investing activities:
Change in capital expenditures in accounts payable	(47)	516
Change in estimate for asset retirement costs	$ 92	$ 435

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2021
Basis of Presentation
Basis of Presentation	1. Basis of Presentation Fortitude Gold Corporation (the “Company,” “FGC,” or “Fortitude”) was organized under the laws of the State of Colorado on August 11, 2020. On August 18, 2020, Gold Resource Corporation (“GRC” or “Parent”) transferred all of the 10,000 issued and outstanding common stock shares of its wholly-owned subsidiary GRC Nevada Inc. (“GRCN”) to Fortitude in exchange for 21,211,208 shares of Fortitude’s common stock. With the share transfer, GRCN became a wholly-owned subsidiary of Fortitude and Fortitude became a wholly-owned subsidiary of GRC. The assets and liabilities were recorded at historical cost as the entities were under common control. On December 31, 2020, GRC completed the spin-off of FGC (“Spin-Off”), which separated FGC’s business, activities, and operations into a separate, public company. The Spin-Off was effected by the distribution of all of the outstanding shares of FGC common stock to GRC’s shareholders. GRC’s shareholders received one share of FGC common stock for every 3.5 shares of GRC’s common stock held as of December 28, 2020. FGC is a mining company which pursues gold and silver projects that are expected to have both low operating costs and high returns on capital. These interim Condensed Consolidated Financial Statements (“interim financial statements”) are unaudited and have been prepared in accordance with the rules of the Securities and Exchange Commission for interim statements. The condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020 and the condensed consolidated statements of operations, shareholders’ equity and cash flows for the three months ended March 31, 2021 include the accounts of the Company, its subsidiaries GRCN, Walker Lane Minerals Corp. (“Walker Lane”), County Line Holdings, Inc., and County Line Minerals Corp. The consolidated statements of operations, shareholder’s equity and cash flows for the three months ended March 31, 2020 include the accounts of GRCN, WLMC, County Line Holdings, Inc., and County Line Minerals Corp. and have been derived from the accounting records of GRC and should be read with the accompanying notes thereto. All intercompany accounts and transactions have been eliminated in consolidation. Certain information and footnote disclosures required by United States Generally Accepted Accounting Principles (“U.S. GAAP”) have been condensed or omitted as permitted by such rules, although the Company believes that the disclosures included are adequate to make the information presented not misleading. The interim financial statements included herein are expressed in United States dollars. In the opinion of management, all adjustments (including normal recurring adjustments) and disclosures necessary for a fair presentation of these interim financial statements have been included. The results reported in these interim financial statements are not necessarily indicative of the results that may be reported for the entire year. These interim financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2020 included in the Company’s annual report on Form 10-K. The year-end balance sheet data was derived from the audited financial statements. Unless otherwise noted, there have been no material changes to the footnotes from those accompanying the audited consolidated financial statements contained in the Company’s annual report on Form 10-K. The condensed consolidated statements of operations, shareholder’s equity and cash flows for the three months ended March 31, 2020 have been prepared on a “carve-out” basis. The accompanying statements include allocations of certain expenses for human resources, accounting, and other services, plus share-based compensation allocated from GRC. The expense allocations have been determined on basis that the Company and GRC consider to be reasonable reflections of the utilization of services or the benefits provided. In addition, the assets and liabilities include only those assigned to the carve-out entities. The allocations and related estimates and assumptions are described more fully in Note 2

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2021
Related Party Transactions
Related Party Transactions	2. Related Party Transactions Effective December 31, 2020, in connection with the Spin-Off, the Company entered into a Management Services Agreement (“MSA” or “Agreement”) with GRC that governs the relationship of the parties following the Spin-Off. The MSA provides that the Company will receive services from GRC and its subsidiaries to assist in the transition of the Company as a separate company including, managerial and technical supervision, advisory and consultation with respect to mining operations, exploration, environmental, safety and sustainability matters. The Company will also receive certain administrative services related to information technology, accounting and financial advisory services, legal and compliance support and investor relation and shareholder communication services. The agreed upon charges for services rendered are based on market rates that align with the rates that an unaffiliated service provider would charge for similar services. The MSA’s initial term will expire on December 31, 2021, and automatically renew annually. The Agreement may be cancelled upon 30 days written notice by one party to the other during the term. During the three months ended March 31, 2021, the Company recognized $0.4 million of expense related to the MSA. On April 21, 2021, GRC provided the Company 30 days written notice to cancel the MSA. ​ Prior to the Spin-Off, GRC provided human resources, information technology, accounting, legal, technical, and other services to the Company. The Company obtained its business insurance under GRC. The accompanying condensed consolidated statements of operations, shareholder’s equity and cash flows for the three months ended March 31, 2020 include allocations of all of these expenses. The allocation method calculates the appropriate share of overhead cost to the Company by using time spent by GRC employees. The Company believes the allocation methodology used is reasonable, has been consistently applied, and results in an appropriate allocation of costs incurred. However, these allocations may not be indicative of the cost had the Company been a stand-alone entity or of future services. GRC allocated $0.6 million the three months ended March 31, 2020. These costs were treated as capital contributions from GRC in the accompanying 2020 financial statements. In addition, the Company received cash contributions from GRC to help fund its operations and mine development, which are not expected to be repaid and are treated as capital contributions. For the three months ended March 31, 2020, the Company received total capital contributions from GRC of $5.1 million, inclusive of allocated costs described above.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2021
Revenue
Revenue	3. Revenue The following table presents the Company’s net sales disaggregated by source: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2021 2020 ​ ​ (in thousands) Sales, net ​ ​ ​ ​ Gold doré sales ​ $ 20,701 ​ $ 5,914 Less: Refining charges ​ (46) ​ (57) Total sales, net ​ $ 20,655 ​ $ 5,857 ​

Inventories

Inventories	3 Months Ended
	Mar. 31, 2021
Inventories
Inventories	4. Inventories At March 31, 2021 and December 31, 2020, current inventories consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 ​ (in thousands) Stockpiles ​ $ 8,713 ​ $ 6,269 Leach pad ​ 18,484 ​ 16,636 Doré ​ 55 ​ 19 Subtotal - product inventories ​ 27,252 ​ 22,924 Materials and supplies ​ 125 ​ 127 Total ​ $ 27,377 ​ $ 23,051 ​ In addition to the inventory above, as of March 31, 2021 and December 31, 2020, the Company has $1.6 million of low-grade ore stockpile inventory included in other non-current assets on the accompanying Condensed Consolidated Balance Sheets. For the three months ended March 31, 2021 and 2020 the Company recorded nil and $1.6 million, respectively, in net realizable value (“NRV”) inventory adjustments, respectively.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Taxes
Income Taxes	5. Income Taxes The Company accounts for income taxes in accordance with the provisions of ASC 740, “Income Taxes” (“ASC 740”), on a tax jurisdictional basis. The Company files a consolidated U.S. income tax return and at the federal level its income and losses are taxed at 21%. In addition, a 5% Net Proceeds of Minerals tax applies to the Company’s operations in Nevada, and such tax is recorded as an income tax. The Company recorded income and mining tax expense of $1.0 million income and $0.1 million for the three months ended March 31, 2021 and 2020, respectively. In accordance with ASC 740, the interim provision for taxes was calculated by using the annual effective tax rate. This rate is applied to the year-to-date Income (loss) before income and mining taxes to determine the income tax expense for the period. The Company evaluates the evidence available to determine whether a valuation allowance is required on the deferred tax assets. The Company determined that its deferred tax assets were “more likely than not” to be realized as of March 31, 2021 and December 31, 2020, thus no valuation allowance was determined to be necessary.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	3 Months Ended
	Mar. 31, 2021
Prepaid Expenses and Other Current Assets
Prepaid Expenses and Other Current Assets	6. Prepaid Expenses and Other Current Assets At March 31, 2021 and December 31, 2020, prepaid expenses and other current assets consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, ​ 2021 2020 ​ (in thousands) Contractor advances ​ $ 1,777 ​ $ 1,670 Prepaid insurance ​ ​ 272 ​ ​ 195 Other current assets ​ 93 ​ 97 Total ​ $ 2,142 ​ $ 1,962 ​

Property, Plant and Mine Develo

Property, Plant and Mine Development, net	3 Months Ended
	Mar. 31, 2021
Property, Plant and Mine Development, net
Property, Plant and Mine Development, net	7. Property, Plant and Mine Development, net At March 31, 2021 and December 31, 2020, property, plant and mine development consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, ​ 2021 2020 ​ (in thousands) Asset retirement costs ​ $ 3,680 ​ $ 3,588 Construction-in-progress ​ 216 ​ 195 Furniture and office equipment ​ 336 ​ 324 Leach pad and ponds ​ 5,649 ​ 5,649 Land ​ 13 ​ 13 Light vehicles and other mobile equipment ​ 448 ​ 435 Machinery and equipment ​ 14,322 ​ 14,311 Mill facilities and infrastructure ​ 7,669 ​ 7,669 Mineral interests and mineral rights ​ 18,878 ​ 18,878 Mine development ​ 24,365 ​ 24,365 Software and licenses ​ 65 ​ 65 Subtotal (1) (2) ​ 75,641 ​ 75,492 Accumulated depreciation and amortization ​ (30,630) ​ (24,502) Total ​ $ 45,011 ​ $ 50,990 (1) Includes $1.8 million of assets recorded under finance leases. Please see Note 12 for additional information. (2) Includes capital expenditures in accounts payable of $0.6 million and $0.6 million at March 31, 2021 and December 31, 2020, respectively. For the three months ended March 31, 2021 and 2020, the Company recorded depreciation and amortization expense of $3.7 million and $1.4 million, respectively.

Other Current Liabilities

Other Current Liabilities	3 Months Ended
	Mar. 31, 2021
Other Current Liabilities
Other Current Liabilities	8. Other Current Liabilities At March 31, 2021 and December 31, 2020, other current liabilities consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, ​ 2021 2020 ​ (in thousands) Accrued royalty payments ​ $ 592 ​ $ 718 Accrued property taxes ​ 88 ​ 353 Sales and use tax payable ​ 2 ​ 10 Other accrued expenses ​ ​ 10 ​ ​ 11 Total ​ $ 692 ​ $ 1,092 ​

Asset Retirement Obligation

Asset Retirement Obligation	3 Months Ended
	Mar. 31, 2021
Asset Retirement Obligations
Asset Retirement Obligation	9. Asset Retirement Obligation The following table presents the changes in the Company’s asset retirement obligation for the three months ended March 31, 2021 and year ended December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, ​ 2021 2020 ​ (in thousands) Asset retirement obligation – balance at beginning of period ​ $ 3,844 ​ $ 2,486 Changes in estimate ​ 92 ​ 1,159 Payments ​ ​ (11) ​ ​ — Accretion ​ 77 ​ 199 Asset retirement obligation – balance at end of period ​ $ 4,002 ​ $ 3,844 ​ As of March 31, 2021 and December 31, 2020, the Company had a $5.2 million and $5.4 million off-balance sheet arrangement, respectively, consisting of a $9.2 million surety bond off-set by a $4.0 million and $3.8 million asset retirement obligation at March 31, 2021 and December 31, 2020, respectively, for future reclamation obligations for Isabella Pearl. The Company’s asset retirement obligations were discounted using a credit adjusted risk-free rate of 8%.

Loans Payable

Loans Payable	3 Months Ended
	Mar. 31, 2021
Loans Payable
Loans Payable	10. Loans Payable The Company has financed certain equipment purchases on a long-term basis. The loans bear annual interest at rates ranging from 3% to 4.48%, are collateralized by the equipment, and require monthly principal and interest payments of $0.08 million. As of March 31, 2021, and December 31, 2020, there was an outstanding balance of $0.6 million and $0.8 million, respectively. Scheduled remaining minimum repayments are $0.5 million in 2021, and $0.1 million in 2022. The fair value of the loans payable, based on Level 2 inputs, approximated the outstanding balance at both March 31, 2021 and December 31, 2020. See Note 15

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies
Commitments and Contingencies	11. Commitments and Contingencies The Company has a Contract Mining Agreement with a mining contractor relating to mining activities at its Isabella Pearl project. Included in this Agreement is an embedded lease for the mining equipment for which the Company has recognized a right-of-use asset and corresponding operating lease liability. Please see Note 12

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases
Leases	12. Leases Operating Leases Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company recognizes lease expense for these leases as incurred over the lease term. For leases beginning in 2019 and later, the Company accounts for lease components (e.g., fixed payments including rent, real estate taxes and insurance costs) separately from the non-lease components (e.g., common-area maintenance costs). The depreciable life of assets are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. The weighted average remaining lease term for the Company’s operating leases as of March 31, 2021 is 0.58 years. The discount rate implicit within the Company’s leases is generally not determinable and therefore the Company determines the discount rate based on its incremental borrowing rate. The incremental borrowing rate for the Company’s leases is determined based on the lease term adjusted for impacts of collateral. The weighted average discount rate used to measure the Company’s operating lease liabilities as of March 31, 2021 was 4.48%. There are no material residual value guarantees and no restrictions or covenants imposed by the Company’s leases. The Company has an embedded lease in its Contract Mining Agreement. The Company’s lease payments for its mining equipment embedded lease are determined by tonnage hauled. This embedded lease is within a Contract Mining Agreement entered into for the mining activities at the Company’s Isabella Pearl Mine. The payments, amortization of the right-of-use asset, and interest vary immaterially from forecasted amounts due to variable conditions at the mine. During the three months ended March 31, 2021, the Company capitalized variable lease costs of $1.7 million to Inventory. During the three months ended March 31, 2020, the Company capitalized variable lease costs of $0.7 million to Inventory and $1.5 million to Property, plant, and mine development. On October 28, 2020, the Company extended the Contract Mining Agreement for a one Maturities of operating lease liabilities as of March 31, 2021 are as follows (in thousands) ​ ​ ​ ​ ​ Year Ending December 31: ​ 2021 ​ $ 4,625 Thereafter ​ — Total lease payments ​ 4,625 Less imputed interest ​ (56) Present value of minimum payments ​ 4,569 Less: current portion ​ (4,569) Long-term portion of minimum payments ​ $ — ​ Finance Leases The Company has finance lease agreements for certain equipment. The leases bear annual imputed interest of 4.48% to 5.95% and require monthly principal, interest, and sales tax payments of $0.04 million. The weighted average discount rate for the Company’s finance leases is 5.76%. Scheduled minimum annual payments as of March 31, 2021 are as follows (in thousands) ​ ​ ​ ​ ​ Year Ending December 31: ​ 2021 ​ $ 291 2022 ​ 13 2023 ​ 13 2024 ​ 4 Thereafter ​ — Total minimum obligations ​ 321 Less: interest portion ​ (8) Present value of minimum payments ​ 313 Less: current portion ​ (288) Long-term portion of minimum payments ​ $ 25 ​ The weighted average remaining lease term for the Company’s finance leases as of March 31, 2021 is 0.91 years. Supplemental cash flow information related to the Company’s operating and finance leases is as follows for the three months ended March 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2021 2020 ​ (in thousands) Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 1,693 ​ $ 733 Operating cash flows from finance leases ​ 5 ​ 12 Investing cash flows from operating lease ​ — ​ 1,452 Financing cash flows from finance leases ​ 112 ​ 107 ​

Other Expense, Net

Other Expense, Net	3 Months Ended
	Mar. 31, 2021
Other Expense, Net
Other Expense, Net	13. Other Expense, Net For the three months ended March 31, 2021 and 2020, other expense, net consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ ​ March 31, ​ ​ ​ 2021 2020 ​ ​ ​ (in thousands) ​ Interest expense ​ $ 36 ​ $ 30 ​ Charitable contributions ​ ​ 3 ​ ​ 25 ​ Other income ​ ​ (2) ​ ​ (7) ​ Total ​ $ 37 ​ $ 48 ​ ​

Net Income (Loss) per Common Sh

Net Income (Loss) per Common Share	3 Months Ended
	Mar. 31, 2021
Net Income (Loss) per Common Share
Net Income (Loss) per Common Share	14. Net Income (Loss) per Common Share Basic earnings per common share is calculated based on the weighted average number of common shares outstanding for the period. Diluted earnings per common share is calculated based on the assumption that stock options and other dilutive securities outstanding, which have an exercise price less than the average market price of the Company’s common shares during the period, would have been exercised on the later of the beginning of the period or the date granted and that the funds obtained from the exercise were used to purchase common shares at the average market price during the period. The effect of the Company’s dilutive securities is calculated using the treasury stock method and only those instruments that result in a reduction in net income per common share are included in the calculation. The Company had no anti-dilutive instruments outstanding as of March 31, 2021 and 2020. Basic and diluted net income per common share is calculated as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ ​ March 31, ​ ​ ​ 2021 2020 ​ Net income (loss) (in thousands) ​ $ 2,401 ​ $ (1,388) ​ Basic weighted average shares of common stock outstanding ​ ​ 23,614,466 ​ ​ 10,000 ​ Diluted effect of share-based awards ​ ​ 163,548 ​ ​ - ​ Diluted weighted average common shares outstanding ​ ​ 23,778,014 ​ ​ 10,000 ​ Net income (loss) per share: ​ ​ ​ ​ ​ ​ ​ Basic ​ $ 0.10 ​ $ (139) ​ Diluted ​ ​ 0.10 ​ ​ (139) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2021
Fair Value Measurement
Fair Value Measurement	15. Fair Value Measurement Fair value accounting establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below: Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3 Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). As required by accounting guidance, assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The following tables set forth certain of the Company’s assets measured at fair value by level within the fair value hierarchy as of March 31, 2021 and December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Input Hierarchy Level ​ (in thousands) ​ Cash and cash equivalents ​ $ 35,171 ​ $ 27,774 ​ Level 1 Accounts receivable ​ 1,659 ​ 145 ​ Level 2 Loans payable ​ $ 556 ​ $ 782 ​ Level 2 ​ The following methods and assumptions were used to estimate the fair value of each class of financial instrument: Cash and cash equivalents consist primarily of cash deposits and are valued at cost, which approximates fair value. Accounts receivable include amounts due to the Company for deliveries of doré sold to customers, which approximates fair value. Loans payable consist of obligations for equipment purchases financed on a long-term basis. Loans payable are recorded at amortized cost, which approximates fair value. See Note 10

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2021
Stock-Based Compensation
Stock-Based Compensation	16. Stock-Based Compensation The Fortitude Gold Corporation 2020 Equity Incentive Plan (the “Incentive Plan”) allows for the issuance of up to 5 million shares of common stock in the form of incentive and non-qualified stock options, stock appreciation rights, restricted stock units (“RSUs”), stock grants, and stock units. The Company utilizes this Incentive Plan to attract, retain and incentivize staff. ​ During the three months ended March 31, 2021, in conjunction with its staffing process post Spin-Off, the Company issued 2,220,000 shares of its common stock to its officers, directors, management and other key personnel. These shares immediately vested at a fair value of $1.40 per share. ​ During the three months ended March 31, 2021, the Company issued options to purchase 332,000 shares of its common stock to employees and key personnel other than its officers or directors. The options vest over a period of three years. The Company used the Black-Scholes option valuation model to value the options with the following assumptions: stock price of $1.40, expected term of 3.5 years, risk free rate of 0.26-0.30%, expected volatility of 73.56-73.66%, and an assumed dividend rate of 0%. ​ Stock-based compensation is included in general and administrative expenses in the accompanying Condensed Consolidated Statements of Operations. For the three months ended March 31, 2021, the Company recorded $3.1 million of stock-based compensation. For the three months ended March 31, 2020, the Company recognized stock-based compensation expenses allocated from GRC, as described in Note 2

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2021
Shareholders' Equity
Shareholders' Equity	17. Shareholders’ Equity ​ On January 11, 2021, the Company completed a private placement sale of 500,000 shares of its common stock at $1.00 per share to 20 individual investors. The shares have a restrictive legend with no registration rights for a minimum of 12 months. No commission or finder’s fee was paid in connection with the private placement. ​ See Note 16 ​

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 31, 2021
Subsequent Event
Subsequent Event	18. Subsequent Event On April 5, 2021, the Company initiated a $0.02 per share monthly dividend or $0.24 per share annually. On April 21, 2021, GRC delivered a notice of termination of the MSA. The Agreement provided that either party could terminate the Agreement upon 30 days written notice by one party to the other. Termination of the Agreement will be effective on May 21, 2021. On May 4, 2021, the Company increased its dividend by 50% to $0.03 per share monthly or $0.36 per share annually.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue
Schedule of company's net sales disaggregated by source	​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2021 2020 ​ ​ (in thousands) Sales, net ​ ​ ​ ​ Gold doré sales ​ $ 20,701 ​ $ 5,914 Less: Refining charges ​ (46) ​ (57) Total sales, net ​ $ 20,655 ​ $ 5,857

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2021
Inventories
Schedule of current inventories	At March 31, 2021 and December 31, 2020, current inventories consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 ​ (in thousands) Stockpiles ​ $ 8,713 ​ $ 6,269 Leach pad ​ 18,484 ​ 16,636 Doré ​ 55 ​ 19 Subtotal - product inventories ​ 27,252 ​ 22,924 Materials and supplies ​ 125 ​ 127 Total ​ $ 27,377 ​ $ 23,051

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Prepaid Expenses and Other Current Assets
Schedule of prepaid expenses and other current assets	At March 31, 2021 and December 31, 2020, prepaid expenses and other current assets consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, ​ 2021 2020 ​ (in thousands) Contractor advances ​ $ 1,777 ​ $ 1,670 Prepaid insurance ​ ​ 272 ​ ​ 195 Other current assets ​ 93 ​ 97 Total ​ $ 2,142 ​ $ 1,962

Property, Plant and Mine Deve_2

Property, Plant and Mine Development, net (Tables)	3 Months Ended
	Mar. 31, 2021
Property, Plant and Mine Development, net
Schedule of property, plant and mine development	At March 31, 2021 and December 31, 2020, property, plant and mine development consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, ​ 2021 2020 ​ (in thousands) Asset retirement costs ​ $ 3,680 ​ $ 3,588 Construction-in-progress ​ 216 ​ 195 Furniture and office equipment ​ 336 ​ 324 Leach pad and ponds ​ 5,649 ​ 5,649 Land ​ 13 ​ 13 Light vehicles and other mobile equipment ​ 448 ​ 435 Machinery and equipment ​ 14,322 ​ 14,311 Mill facilities and infrastructure ​ 7,669 ​ 7,669 Mineral interests and mineral rights ​ 18,878 ​ 18,878 Mine development ​ 24,365 ​ 24,365 Software and licenses ​ 65 ​ 65 Subtotal (1) (2) ​ 75,641 ​ 75,492 Accumulated depreciation and amortization ​ (30,630) ​ (24,502) Total ​ $ 45,011 ​ $ 50,990 (1) Includes $1.8 million of assets recorded under finance leases. Please see Note 12 for additional information. (2) Includes capital expenditures in accounts payable of $0.6 million and $0.6 million at March 31, 2021 and December 31, 2020, respectively.

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2021
Other Current Liabilities
Schedule of other current liabilities.	At March 31, 2021 and December 31, 2020, other current liabilities consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, ​ 2021 2020 ​ (in thousands) Accrued royalty payments ​ $ 592 ​ $ 718 Accrued property taxes ​ 88 ​ 353 Sales and use tax payable ​ 2 ​ 10 Other accrued expenses ​ ​ 10 ​ ​ 11 Total ​ $ 692 ​ $ 1,092

Asset Retirement Obligation (Ta

Asset Retirement Obligation (Tables)	3 Months Ended
	Mar. 31, 2021
Asset Retirement Obligations
Schedule of asset retirement obligation	​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, ​ 2021 2020 ​ (in thousands) Asset retirement obligation – balance at beginning of period ​ $ 3,844 ​ $ 2,486 Changes in estimate ​ 92 ​ 1,159 Payments ​ ​ (11) ​ ​ — Accretion ​ 77 ​ 199 Asset retirement obligation – balance at end of period ​ $ 4,002 ​ $ 3,844

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases
Schedule of operating lease maturities	Maturities of operating lease liabilities as of March 31, 2021 are as follows (in thousands) ​ ​ ​ ​ ​ Year Ending December 31: ​ 2021 ​ $ 4,625 Thereafter ​ — Total lease payments ​ 4,625 Less imputed interest ​ (56) Present value of minimum payments ​ 4,569 Less: current portion ​ (4,569) Long-term portion of minimum payments ​ $ —
Schedule of finance lease maturities	​ ​ ​ ​ ​ Year Ending December 31: ​ 2021 ​ $ 291 2022 ​ 13 2023 ​ 13 2024 ​ 4 Thereafter ​ — Total minimum obligations ​ 321 Less: interest portion ​ (8) Present value of minimum payments ​ 313 Less: current portion ​ (288) Long-term portion of minimum payments ​ $ 25
Schedule of supplemental cash flow information of leases.	​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2021 2020 ​ (in thousands) Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 1,693 ​ $ 733 Operating cash flows from finance leases ​ 5 ​ 12 Investing cash flows from operating lease ​ — ​ 1,452 Financing cash flows from finance leases ​ 112 ​ 107

Other Expense, Net (Tables)

Other Expense, Net (Tables)	3 Months Ended
	Mar. 31, 2021
Other Expense, Net
Schedule of other expense, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ ​ March 31, ​ ​ ​ 2021 2020 ​ ​ ​ (in thousands) ​ Interest expense ​ $ 36 ​ $ 30 ​ Charitable contributions ​ ​ 3 ​ ​ 25 ​ Other income ​ ​ (2) ​ ​ (7) ​ Total ​ $ 37 ​ $ 48 ​

Net Income (Loss) per Common _2

Net Income (Loss) per Common Share (Tables)	3 Months Ended
	Mar. 31, 2021
Net Income (Loss) per Common Share
Schedule of basic and diluted net income per common share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ ​ March 31, ​ ​ ​ 2021 2020 ​ Net income (loss) (in thousands) ​ $ 2,401 ​ $ (1,388) ​ Basic weighted average shares of common stock outstanding ​ ​ 23,614,466 ​ ​ 10,000 ​ Diluted effect of share-based awards ​ ​ 163,548 ​ ​ - ​ Diluted weighted average common shares outstanding ​ ​ 23,778,014 ​ ​ 10,000 ​ Net income (loss) per share: ​ ​ ​ ​ ​ ​ ​ Basic ​ $ 0.10 ​ $ (139) ​ Diluted ​ ​ 0.10 ​ ​ (139) ​ ​ ​ ​ ​ ​ ​ ​ ​

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Measurement
Schedule of assets and liabilities measured at fair value	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Input Hierarchy Level ​ (in thousands) ​ Cash and cash equivalents ​ $ 35,171 ​ $ 27,774 ​ Level 1 Accounts receivable ​ 1,659 ​ 145 ​ Level 2 Loans payable ​ $ 556 ​ $ 782 ​ Level 2

Basis of Presentation (Details)

Basis of Presentation (Details)	Dec. 28, 2020	Mar. 31, 2021shares	Dec. 31, 2020shares	Aug. 18, 2020shares	Mar. 31, 2020shares	Dec. 31, 2019shares
Gold Resource Corporation
Basis of Presentation
Stock split, conversion ratio	3.5
Common shares
Basis of Presentation
Shares, Outstanding		23,931,208	21,211,208		10,000	10,000
Common shares | GRC Neveda
Basis of Presentation
Shares, Outstanding				10,000
Common shares | Fortitude [Member]
Basis of Presentation
Shares, Outstanding				21,211,208

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Related Party Transactions
Capital contributions from GRC		$ 5,103
Gold Resource Corporation
Related Party Transactions
Service agreement cancellation term	30 days
Expenses recognized	$ 400
Allocation of costs		600
Capital contributions from GRC		$ 5,100

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue
Less: Refining charges	$ (46)	$ (57)
Sales, net	20,655	5,857
Gold dore
Revenue
Sales, net	$ 20,701	$ 5,914

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Inventories
Stockpiles	$ 8,713		$ 6,269
Leach pad	18,484		16,636
Dore	55		19
Subtotal - product inventories	27,252		22,924
Materials and supplies	125		127
Total	27,377		23,051
Low-grade ore stockpile	1,600		$ 1,600
Net realizable value inventory adjustments	$ 0	$ 1,600

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Income Taxes
Federal tax rate	21.00%
Minerals tax rate	5.00%
Income and mining tax expense	$ 978,000	$ 125,000
Valuation allowance	$ 0		$ 0

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Prepaid Expenses and Other Current Assets
Contractor advances	$ 1,777	$ 1,670
Prepaid insurance	272	195
Other current assets	93	97
Total	$ 2,142	$ 1,962

Property, Plant and Mine Deve_3

Property, Plant and Mine Development, net (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Property, Plant and Mine Development, net
Subtotal	$ 75,641		$ 75,492
Accumulated depreciation and amortization	(30,630)		(24,502)
Total	45,011		50,990
Right of use Asset	1,800		1,800
Capital expenditures included in accounts payable	600		600
Depreciation and amortization	3,677	$ 1,422
Asset retirement costs
Property, Plant and Mine Development, net
Subtotal	3,680		3,588
Construction-in-progress
Property, Plant and Mine Development, net
Subtotal	216		195
Furniture and office equipment
Property, Plant and Mine Development, net
Subtotal	336		324
Leach pad and ponds
Property, Plant and Mine Development, net
Subtotal	5,649		5,649
Land
Property, Plant and Mine Development, net
Subtotal	13		13
Light vehicles and other mobile equipment
Property, Plant and Mine Development, net
Subtotal	448		435
Machinery and equipment
Property, Plant and Mine Development, net
Subtotal	14,322		14,311
Mill facilities and infrastructure
Property, Plant and Mine Development, net
Subtotal	7,669		7,669
Mineral interests and mineral rights
Property, Plant and Mine Development, net
Subtotal	18,878		18,878
Mine development
Property, Plant and Mine Development, net
Subtotal	24,365		24,365
Software and licenses
Property, Plant and Mine Development, net
Subtotal	$ 65		$ 65

Other Current Liabilities (Deta

Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Other Current Liabilities
Accrued royalty payments	$ 592	$ 718
Accrued property taxes	88	353
Sales and use tax payable	2	10
Other accrued expenses	10	11
Total	$ 692	$ 1,092

Asset Retirement Obligation (De

Asset Retirement Obligation (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Asset retirement obligation - balance at beginning of period	$ 3,844	$ 2,486
Changes in estimate	92	1,159
Payments	(11)
Accretion	77	199
Asset retirement obligation - balance at end of period	4,002	3,844
Nevada Project
Off-balance sheet arrangement	5,200	5,400
Surety bond	$ 9,200	$ 9,200
Risk-free rate	8.00%

Loans Payable (Details)

Loans Payable (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Loans Payable
Periodic payment	$ 80
Outstanding balance	600	$ 800
2021	500
2022	$ 100
Maximum
Loans Payable
Interest Rate	4.48%
Minimum
Loans Payable
Interest Rate	3.00%

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Dec. 31, 2020USD ($)
Commitments and Contingencies
Contractual payments remaining as on date	$ 5.5

Leases - Operating Leases (Deta

Leases - Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Oct. 28, 2020	Mar. 31, 2020
Leases
Operating lease weighted average lease term	6 months 29 days
Discount rate	4.48%
Residual value guarantee	false
Renewal Term			1 year
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2021	$ 4,625
Total lease payments	4,625
Less imputed interest	(56)
Present value of minimum payments	4,569
Less: current portion	(4,569)	$ (6,198)
Inventory
Leases
Lease costs capitalized	$ 1,700			$ 700
Property, Plant and Equipment
Leases
Lease costs capitalized				$ 1,500

Leases - Finance Leases (Detail

Leases - Finance Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Leases
Monthly tax payments	$ 40
Finance lease weighted average discount rate	5.76%
Finance lease weighted average lease term	10 months 28 days
Finance Lease, Liability, Payment, Due [Abstract]
2021	$ 291
2022	13
2023	13
2024	4
Total minimum obligations	321
Less: interest portion	(8)
Present value of minimum payments	313
Less: current portion	(288)	$ (398)
Long-term portion of minimum payments	$ 25	$ 27
Maximum
Leases
Finance lease discount rate	5.95%
Minimum
Leases
Finance lease discount rate	4.48%

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Leases
Operating cash flows from operating leases	$ 1,693	$ 733
Operating cash flows from finance leases	5	12
Investing cash flows from operating lease		1,452
Financing cash flows from finance leases	$ 112	$ 107

Other Expense, Net (Details)

Other Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Other Expense, Net
Interest expense	$ 36	$ 30
Charitable contributions	3	25
Other income	(2)	(7)
Other expense, net	$ 37	$ 48

Net Income (Loss) per Common _3

Net Income (Loss) per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net Income (Loss) per Common Share
Net income (loss)	$ 2,401	$ (1,388)
Basic weighted average shares of commong stock oustanding	23,614,466	10,000
Diluted effect of share-based awards	163,548
Diluted weighted average common shares outstanding	23,778,014	10,000
Net income (loss) per common share:
Basic	$ 0.10	$ (139)
Diluted	$ 0.10	$ (139)
Anti-dilutive instruments outstanding	0	0

Fair Value Measurement (Details

Fair Value Measurement (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Level 1
Fair Value Measurement
Cash and cash equivalents	$ 35,171	$ 27,774
Level 2
Fair Value Measurement
Accounts receivable	1,659	145
Loans payable	$ 556	$ 782

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Stock-Based Compensation
Stock-based compensation	$ 3,125
Employee stock options
Stock-Based Compensation
Share Price	$ 1.40
Expected Term	3 years 6 months
Dividend rate	0.00%
Minimum | Employee stock options
Stock-Based Compensation
Risk free rate	0.26%
Expected volitility	73.56%
Maximum | Employee stock options
Stock-Based Compensation
Risk free rate	0.30%
Expected volitility	73.66%
Incentive Plan [Member]
Stock-Based Compensation
Share-based compensation (shares)	2,220,000
Vesting share price	$ 1.40
Incentive Plan [Member] | Employee stock options | Employees And Key Personnel [Member]
Stock-Based Compensation
Options issued	332,000
Vesting period	3 years
Incentive Plan [Member] | Maximum
Stock-Based Compensation
Shares available for issuance	5,000,000
General and administrative expenses
Stock-Based Compensation
Share based compensation expense recognized		$ 100

Shareholders' Equity (Details)

Shareholders' Equity (Details) - Private Placement [Member]	Jan. 11, 2021USD ($)individual$ / sharesshares	Mar. 31, 2021
Number of shares in private placement | shares	500,000
Sale of Stock, Price Per Share | $ / shares	$ 1
Number Of Investors | individual	20
Minimum period for shares for registration rights		12 months
Commisions and finders fee | $	$ 0

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Event [Member] - $ / shares	May 04, 2021	Apr. 21, 2021	Apr. 05, 2021
Dividend per month	$ 0.03		$ 0.02
Annual dividend per share	$ 0.36		$ 0.24
Service agreement cancellation term		30 days
Dividend increase (percentage)	50.00%