Welcome to our dedicated page for U.S. Gold news (Ticker: USAU), a resource for investors and traders seeking the latest updates and insights on U.S. Gold stock.
U.S. Gold Corp. (Nasdaq: USAU) is a publicly traded gold exploration and development company headquartered in Elko, Nevada. Specializing in the exploration of gold and copper resources, the company is progressing with several key projects across the United States.
Among U.S. Gold Corp.'s significant assets is the CK Gold Project located in the Silver Crown Mining District of Wyoming. Known for its high economic potential, the project boasts a proven and probable reserve of 1.01 million ounces of gold and 248 million pounds of copper. Recent developments include the approval of the Mine Operating Permit, positioning the project to produce copper concentrate, meeting the rising demand for copper driven by electrification and green technologies.
Another cornerstone asset is the Keystone Project, situated in Nevada's Cortez Trend. Recent hyperspectral studies have identified numerous high-priority targets, leading to an ongoing drilling exploration program. The Keystone Project holds significant potential for Carlin-type and gold-silver skarn deposits, further enriched by remote sensing and surface investigations.
The Challis Gold Project in Idaho also forms part of U.S. Gold Corp.'s exploration portfolio. This project is strategically important, lying close to other major projects and offering promising prospects for gold exploration.
In addition to its exploration activities, U.S. Gold Corp. actively engages in financial and strategic partnerships. The company recently raised approximately $4.9 million through a securities purchase agreement to fuel its operations and development projects.
Guided by a seasoned management team, U.S. Gold Corp. is navigating towards becoming a leading producer of gold and copper in the United States. The company's meticulous focus on obtaining necessary permits and advancing its projects underscores its commitment to delivering value to shareholders while responsibly managing environmental and regulatory aspects.
U.S. Gold Corp. (NASDAQ: USAU) announced the resignation of Ryan K. Zinke from its Board of Directors, effective December 31, 2022, as he prepares to assume a congressional position. Zinke, who previously represented Montana's at-large district and served as Interior Secretary, has contributed invaluable insights during his tenure. Following the resignation, U.S. Gold will address the resulting board vacancy in accordance with its bylaws. Zinke will divest his interests in the company and will have no ongoing agreements post-resignation.
U.S. Gold Corp. (NASDAQ: USAU) has announced the execution of a transaction regarding the Maggie Creek Property. On November 9, 2022, the Company assigned its interest in an Exploration Earn-In Agreement to Nevada Gold Mines LLC for $2.75 million. Additionally, U.S. Gold will receive a 0.5% Net Smelter Returns royalty if NGM exercises their 100% acquisition option. The deal allows U.S. Gold to refocus on its Keystone property while still retaining a royalty interest in Maggie Creek, which is located in Nevada.
U.S. Gold Corp. (NASDAQ: USAU) is set to engage in three prominent investor conferences this November: Red Cloud Toronto's Fall Mining Showcase (Nov 9-10), 2022 Precious Metals Summit Zurich (Nov 14-15), and Mines and Money London (Nov 29-Dec 1). The management team will discuss the CK Gold Project, highlighting its prefeasibility study showing a pre-tax NPV of $323 million and a cash balance of $6.3 million as of July 31, 2022. These events aim to connect with institutional investors and showcase the company's growth potential.
U.S. Gold Corp. (NASDAQ: USAU) provides a shareholder update highlighting its CK Gold Project in Wyoming. Currently holding $6.3M in cash and no long-term debt, the company has completed critical phases of the project, including a Prefeasibility Study indicating a 39.4% IRR before tax. Their 2021 findings revealed 1.44 million AuEq ounces and a net present value of $323 million. Despite market challenges, the company remains optimistic about future metal price increases and the potential of its exploration projects.
U.S. Gold Corp. has submitted its Permit to Mine Application and Reclamation Plan to the Wyoming Department of Environmental Quality for the CK Gold Project, located 20 miles west of Cheyenne. The submission initiates a formal review process by state authorities. The project has undergone significant engineering, with a Prefeasibility Study indicating 1.44 million AuEq ounces in reserves and a capital investment estimate of $221 million. The company plans to submit an Industrial Siting Permit application in February 2023, with a focus on community impact assessments.
U.S. Gold Corp. (NASDAQ: USAU) has announced its events calendar for September 2022, participating in key investor conferences including the H.C. Wainwright Virtual Global Investment Conference, Precious Metals Summit Beaver Creek, and Denver Gold Group - Gold Forum Americas. The management team will present and meet with institutional investors at these gatherings, focusing on the CK Gold Project in Southeast Wyoming. These events aim to enhance visibility and engage with industry leaders and investors in the precious metals space.
U.S. Gold Corp. (NASDAQ: USAU) will present an update on its CK Gold Project at the 66th Annual Wyoming Mining Association Convention from August 24-26, 2022, in Jackson, Wyoming. CEO George Bee will discuss project advancements and their benefits to local communities. Executive Director Travis Deti will highlight the socioeconomic impacts of the CK Gold Project. The project, located in Southeast Wyoming, is backed by a Preliminary Feasibility Study. U.S. Gold Corp. continues to advance its exploration properties, including those in Nevada and Idaho.
U.S. Gold Corp. (NASDAQ: USAU) has unveiled an updated interactive 3D model of its CK Gold Project, created in partnership with VRIFY Technology Inc. This model visualizes drilling results, resource potential, and project advancements in a comprehensive format. Highlights from the Preliminary Feasibility Study include 1.58 million gold equivalent ounces in measured and indicated resources, a mine life of 10 years, and an initial capital requirement of $221 million. Robust economics are indicated with an IRR of 39.4% before tax and $323 million NPV. The project anticipates permitting submissions in 2022, with potential approval in 2023.
U.S. Gold Corp. (NASDAQ: USAU) has confirmed the continuation of gold and copper mineralization at its CK Gold Project through the completion of the 2021 drilling program. Notably, recent assays from three holes indicate expansion potential beyond the current resource estimate. The company plans to submit its Permit to Mine application to Wyoming DEQ by Q3 2022. Esteemed geologist Dr. Richard Sillitoe's site visit supported the presence of porphyry-type mineralization and suggested opportunities for further discovery. U.S. Gold Corp. is committed to advancing its development steps towards increasing mineral resources.
U.S. Gold Corp. provides an update on the CK Gold Project permitting process, confirming successful blasting tests that minimize disturbance to surrounding areas. The company plans to submit mine construction and operating permits to Wyoming authorities soon. Environmental baseline studies have been conducted over 20 months, and the project aims to recover copper, gold, and silver efficiently. They intend to use the mined rock beneficially and explore options for the open pit to serve as a water storage facility for Cheyenne. USAU is well-positioned with comprehensive local regulations.
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