U.S. Gold Corp.
U.S. Gold Corp.'s fully-permitted CK Gold copper-gold project in Wyoming began access-road construction in 2025, which was paused in January 2026 pending completion of financing (per the company's own 10-Q, filed 11 Sep 2026, which also carries explicit going-concern language). A March 2026 feasibility study showed an after-tax NPV of ~$630-632M at $3,250 gold; the company is now pursuing project financing with a tight cash balance.
Notable vs. Peers
- Financials score of 8.4/10 is stronger than the peer average of 6.5/10.
- All-in sustaining cost of $1,094/oz is 40% lower than the peer producer average of $1,815/oz.
- Trading within 2% of its 52-week low — weak recent price momentum.
Lifecycle Milestones
Construction Milestones
3 of 5 reached- Reached — date not disclosed
- Dec 2025 · Source
- Jan 2026
- Not yet reached
- Not yet reached
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Not in place: mill, tailings facility, grid power.
Jurisdiction (40%)9/10
Wyoming: Fraser PPI 2024 is 93.25 of 100 (rank 5 of 82; not rated in the 2025 survey), which maps to 9 on this site's scale. Wyoming is a highly mining-friendly US state with predictable, transparent permitting.
Infrastructure (40%)2.9/10
No confirmed mill, confirmed road access, no confirmed grid power, and no confirmed tailings facility at CK Gold Project, Laramie County, Wyoming.
Nearby producing mine (20%)Not yet researched
No producing mine within 50 km in our reference list (nearest listed: Henderson (Freeport-McMoRan Inc.), 163 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:1.3/10
Nearest producing mine: Henderson (Freeport-McMoRan Inc.), 163 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:7/10
Stage: Construction
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:9/10
United States: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
EV/NPV of 0.25x sits in the 9th percentile among 12 construction-stage gold peers ranked on EV/NPV, despite a jurisdiction score of 9/10 -- high enough that jurisdiction risk alone doesn't obviously explain the discount. Not explained by this mechanical screen: either a mispricing, or a risk the screen can't see (a jurisdiction issue this score doesn't capture, or some other factor entirely) -- a separate, more speculative case with no identified resolution catalyst, not the jurisdiction-risk pattern. See this company's own profile page for any completed, cited research into why it trades at a discount, where that research exists.
A relative screen, not a probability and not a reason to buy. This flags companies trading unusually cheap on EV/NPV (market cap plus debt minus cash, per dollar of attributable study NPV) vs. peers of the same lifecycle stage and commodity, for a real, identifiable reason (a jurisdiction risk, a specific dispute, an incident, a financing gap) that may or may not ever resolve favorably. "Unexplained" candidates carry no identified driver at all -- a more speculative bucket than a named catalyst. The year chip is the study behind the NPV; amber means it is more than 5 years old (still the study on file, so it stays in this screen).
Your Rankings
Management Team
President & Chief Executive Officer of U.S. Gold Corp. Spent 16 years at Barrick Gold, including Mine Manager at the Goldstrike Mine (Nevada) during early development, Operations Manager at the Pierina Mine (Peru), and General Manager of the Veladero Mine (Argentina); also held roles at Anglo American, Rio Tinto, and Kinross Gold. Later served as COO of Aurelian Resources (2007), CEO of Andina Minerals (2009), and CEO of Jaguar Mining (2014), and has sat on the boards of Peregrine Metals, Stillwater Mining, and Jaguar Mining. Graduate of the Camborne School of Mines (UK) and holds the ICD.D designation.
30+ years of corporate/operational experience with 15+ years in mining finance. Career includes Corporate Controller at Helix Technologies (2019-2020), VP of Finance & Controller at Pershing Gold Corporation (2012-2019), Corporate Controller at Sunshine Silver Mines Corporation (2011-2012), Corporate Controller at Golden Minerals Company (2007-2010), and earlier work at Hein & Associates and KPMG serving mining/energy clients. Holds a B.S. in Business Administration from SUNY Buffalo and is a licensed CPA.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Franklin Resources reported a new 5.0% position (845,800 shares) on 28 Jul 2026, and the bulk of it sits in Franklin's dedicated Gold & Precious Metals funds rather than a generalist mandate. Two smaller precious-metals specialists corroborate it -- Mackenzie's precious-metals and resource funds hold about 3.6% between them, and OCM Gold and AWEA Goldminen appear as well. Philadelphia Financial Management has been adding, from 6.0% to 7.95% across 2026. Two directors bought shares on the open market in April 2026 with no offsetting sales, though the amounts were token -- about US$12,000 combined, so read that as direction rather than as a financial commitment. No producer, royalty or streaming company holds any equity.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
U.S. Gold Corp owns 100% of the fully permitted CK Gold copper-gold project in Laramie County, Wyoming, planned as an open-pit mine. CK Gold holds 1,209,000 oz of gold in measured and indicated resources (627,000 oz measured and 582,000 oz indicated) plus 407,000 oz inferred, effective 30 March 2026. The March 2026 feasibility study shows an after-tax NPV5% of US$632M and a 27% IRR at US$3,250/oz gold, US$4.50/lb copper and US$40/oz silver, with initial capital of US$422.4M, an 11-year mine life and an all-in sustaining cost of US$1,094/oz net of copper and silver by-products. Access-road construction that began in 2025 was paused in January 2026 pending project financing, and the company's latest quarterly filing carries going-concern language.