U. S. Gold Contracts CK Gold Project Director
Rhea-AI Summary
Positive
- Appointment of experienced project director Ken Murray brings expertise in project execution and optimization
- Strategic location near existing infrastructure and skilled workforce could reduce operational costs
- Project aims to meet growing domestic demand for copper and gold
- Focus on cost reduction and business case improvement indicates commitment to operational efficiency
Negative
- Project still in feasibility study phase, indicating significant time before potential revenue generation
- Substantial capital expenditure and resource requirements likely needed for project development
News Market Reaction
On the day this news was published, USAU declined 5.88%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
CHEYENNE, Wyo., June 17, 2025 /PRNewswire/ -- U.S. Gold Corp. ("U.S. Gold," the "Company," "we," "our" or "us") (Nasdaq: USAU) is pleased to announce that we have engaged Mr. Ken Murray of Captrics Consulting to manage the finalization of studies leading to a Definitive Feasibility Study and development of the Project Execution Plan for the CK Gold Project.
Mr. Murray will join the team advancing the project, bringing deep experience and knowledge in project execution with a focus on the following activities:
- Coordinate engineering activities of the Engineering, Procurement, and Construction Management firm ("EPCM") conducting the feasibility study and project execution plan and coordinate with the other firms involved in project design;
- Develop strategies and plans for the future phases (detailed engineering, procurement, construction, commissioning, operational readiness and operations) of the CK project in terms of project execution plans, schedule, budgets, and resources;
- Provide continued focus on reduction of capital and operating costs and improvement of the project business case;
- Plan, build and manage a high-performance project team, including owner's team, consultants, EPCM contractors, and local partners;
- Engagement with local contractors to develop relationships, understanding of capabilities and expectations of costs for construction;
- Oversee budget planning, cost control, and cash flow forecasting;
- Lead risk management and ensure commercial controls, procurement strategies, and contracting models are aligned with project objectives;
- Ensure engineering designs meet environmental, safety, and operational standards for an open-pit to ensure effective gold operation;
- Work closely with geology, metallurgy, and processing teams to ensure alignment of resource modeling, mine plan, and plant design; and
- Ensure all work complies with applicable mining, environmental, and occupational health & safety regulations.
By way of introduction, Mr. George Bee, President and CEO of U.S. Gold Corp., said, "We are very pleased to have found Ken Murray, who we recently sent to the CK Gold Project site to conduct a review of the work done to date on the CK Gold Project in preparation for the feasibility study and execution plan. We expect a focus on the opportunities presented by the project's unique location and opportunity to leverage off the nearby infrastructure, skilled workforce and an array of nearby contractors well versed in servicing the mining sector." He went on to add, "Ken will work with the firms and other consultants that have participated in advancing the project to date and bring attention to detail and execution, leveraging his vast recent experience in project optimization and delivery. U.S. Gold has reached another pivotal moment. As the CK Gold Project advances toward development, the Company's objective over the coming months will be to grow the team and expand its expertise to ensure delivery of a streamlined CK Gold Project—on time and on budget—into a market with growing domestic demand for copper and gold."
About Mr. Murray
Mr. Murray is a leader in the capital projects and innovation space with more than 25 years of industry experience in various industries, commodities, geographies, and roles. He is a 'big thinker' and is able to utilize his broad experience in projects, technology, and innovation, to provide a significant competitive advantage. He has significant experience across all areas of the project life-cycle, from studies to operations. Mr. Murray has fulfilled lead roles with companies including Kemix, DRA Global, Accenture, Ausenco, SNC-Lavalin, and Inspire Resources, working on projects for clients including BHP, AngloPlatinum, Assmang, Alamos, New Gold, and Goldcorp, amongst others. Since 2019, as Founder and CEO of Captrics Consulting, he has fulfilled many roles including Lead Advisor, Project Director, Senior Project Manager, Study Manager, and Subject Matter Expert for a number of companies including Alamos Gold, Volkswagen Powerco, Wesdome, Origen Mining , Electra Battery Materials, Halyard, Consultec, Hudbay, and BHP, amongst others.
About U.S. Gold Corp.
U.S. Gold Corp. is a publicly traded,
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release are forward-looking within the meaning of the safe harbor provisions of the
For further information
U.S. Gold Corp.
Investor Relations
+1 800 557 4550
ir@usgoldcorp.com
http://www.usgoldcorp.com/
View original content:https://www.prnewswire.com/news-releases/u-s-gold-contracts-ck-gold-project-director-302482939.html
SOURCE U.S. Gold Corp.
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