Company Description
U.S. Gold Corp. (NASDAQ: USAU) is a publicly traded, U.S.-focused gold and copper exploration and development company. According to company disclosures, it holds a portfolio of exploration properties anchored by the CK Gold Project in southeast Wyoming, the Keystone exploration property on the Cortez Trend in Nevada, and the Challis Gold Project in Idaho. The company describes the CK Gold Project as a fully permitted, advanced-stage gold-copper deposit supported by a Preliminary/Pre-Feasibility Study technical report.
Core business focus
U.S. Gold Corp. positions itself as a gold and copper exploration and development company advancing projects within the United States. Its stated strategy centers on progressing its portfolio from exploration through technical studies toward potential development. The CK Gold Project in southeast Wyoming is highlighted in multiple company communications as a key asset, described as a shovel-ready, fully permitted project with a Pre-Feasibility Study (PFS) or Preliminary Feasibility Study technical report completed by engineering firms such as Gustavson Associates, LLC and Samuel Engineering Inc., as referenced in different company descriptions.
The company also notes its Keystone exploration property on the Cortez Trend in Nevada and its Challis Gold Project in Idaho as part of its exploration portfolio. These properties are presented as additional sources of potential future project advancement beyond CK Gold.
CK Gold Project
The CK Gold Project is described by U.S. Gold Corp. as a fully permitted, advanced-stage gold-copper deposit located in southeast Wyoming. Company materials state that the project has a PFS or Preliminary Feasibility Study technical report, and that engineering work has focused on optimizing project design and economics. The project is characterized in recent communications as shovel-ready, with the potential to contribute domestic copper and gold production and to support economic benefits and job creation.
Engineering and permitting work cited by the company includes a Mine Operating Permit approval and a water discharge permit (WYPDES) from the Wyoming Department of Environmental Quality. The company has engaged geotechnical and engineering consultants to review and optimize aspects such as the Tailings Management Facility design, site-wide water management plan, and process plant configuration. U.S. Gold Corp. has also discussed evaluating alternative flotation technologies and grinding equipment for potential improvements in metal recoveries, capital costs, and operating costs, subject to technical testing and permitting considerations.
Other exploration properties
Beyond CK Gold, U.S. Gold Corp. identifies two additional U.S. exploration-stage assets:
- Keystone Project (Nevada): Described as an exploration property on the Cortez Trend in Nevada.
- Challis Gold Project (Idaho): Described as an exploration-stage gold project located in Idaho.
These properties are referenced by the company as part of its broader portfolio of exploration properties in the United States, complementing the more advanced CK Gold Project.
Capital markets and financing
U.S. Gold Corp. trades on the NASDAQ under the ticker symbol USAU. The company has used both registered offerings and private placements to raise capital. In one disclosed transaction, it closed a private placement of common stock and warrants with institutional investors, stating that the intended uses of proceeds include initial development costs at the CK Gold Project, potential land acquisitions, further exploration of its properties, and general working capital purposes.
The company has also previously entered into a Controlled Equity Offering Sales Agreement with a broker-dealer to offer and sell shares of common stock under a shelf registration statement on Form S-3. An 8-K filing reports that this agreement was later terminated when the company was no longer eligible to use Form S-3, with no termination penalties incurred.
Regulatory and reporting framework
As a U.S. public company, U.S. Gold Corp. files reports with the U.S. Securities and Exchange Commission (SEC). An 8-K filing notes that the company is incorporated in Nevada and has changed its independent registered public accounting firm from Marcum LLP to CBIZ CPAs P.C. for the fiscal year ending April 30, 2026, following the acquisition of Marcum’s attest business by CBIZ CPAs. The filing states that Marcum’s prior audit reports included an explanatory paragraph regarding substantial doubt about the company’s ability to continue as a going concern, but did not contain adverse opinions or disclaimers of opinion.
Another 8-K describes an amendment to certain outstanding warrants, allowing the warrantholder to elect cash or cashless (net exercise) settlement prior to warrant expiry. These disclosures illustrate how the company adjusts its capital structure and maintains compliance with SEC reporting requirements.
Industry context and positioning
Within the precious metals and base metals exploration space, U.S. Gold Corp. presents itself as a U.S.-focused gold and copper exploration and development company with a portfolio of projects at different stages of technical advancement. Company communications emphasize the CK Gold Project’s status as a fully permitted, advanced-stage gold-copper deposit and describe its potential role in supplying metals that are important for clean energy technologies and domestic mineral supply chains. The company also highlights participation in mining and investment conferences, panel discussions on permitted copper projects, and industry forums as part of its outreach to investors and stakeholders.
Investor and stakeholder engagement
U.S. Gold Corp. regularly issues press releases to provide updates on project engineering, permitting, property acquisitions related to project development, conference participation, and financing activities. The company notes that it communicates with shareholders and interested investors through news releases and conference presentations, where it discusses the status and perceived potential of its CK Gold, Keystone, and Challis projects.
Summary
In summary, U.S. Gold Corp. (USAU) is described in its public communications as a Nevada-incorporated, NASDAQ-listed, U.S.-focused gold and copper exploration and development company. Its portfolio includes the advanced-stage, fully permitted CK Gold Project in southeast Wyoming, supported by a Pre-Feasibility or Preliminary Feasibility Study technical report, along with the Keystone exploration property on Nevada’s Cortez Trend and the Challis Gold Project in Idaho. The company’s disclosures focus on technical study work, permitting milestones, capital raising activities, and participation in mining and investment conferences as it advances its projects within the U.S. mining sector.
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Short Interest History
Short interest in U S Gold (USAU) currently stands at 1.2 million shares, down 0.7% from the previous reporting period, representing 9.0% of the float. Over the past 12 months, short interest has increased by 793%.
Days to Cover History
Days to cover for U S Gold (USAU) currently stands at 2.8 days, down 48.9% from the previous period. This days-to-cover ratio represents a balanced liquidity scenario for short positions. The days to cover has increased 175% over the past year, indicating improving liquidity conditions. The ratio has shown significant volatility over the period, ranging from 1.0 to 5.4 days.