CHEYENNE, Wyo. – U.S. Gold Corp. () announced today it has formed a Special Committee to assess merger and acquisition interest in the company and has engaged advisors to evaluate potential development capital sources for its CK Gold Project in southeast Wyoming.
The company reported a cash position of approximately $31 million as of April 30, 2026, with about 16.5 million shares outstanding. The CK Gold Project received a feasibility study in March 2026 showing an after-tax net present value of $632 million at $3,250 per ounce , $4.50 per pound , and $40 per ounce , with a 27% internal rate of return and 2.5-year payback period, according to a press release statement.
At current spot prices of approximately $4,500 per ounce gold and $4.50 per pound copper, the after-tax net present value would be approximately $1.37 billion with a 1.6-year payback, the company stated.
The project holds all major permits, including a Mine Operating Permit, and preliminary site work has commenced under an Industrial Siting Permit extended through December 2027. The feasibility study outlines an 11-year mine life processing approximately 20,000 tonnes per day with average annual production of 85,000 gold-equivalent ounces. Proven and probable reserves total 1.6 million gold-equivalent ounces. Initial capital is estimated at $394 million plus pre-production costs.
U.S. Gold is developing a resource expansion drilling program following mid-2026 drone magnetic and gravity surveys that identified new anomalies beyond and below the proposed pit. The company is considering a spin-out of its Keystone Project in Nevada as a standalone exploration company.
“We are actively considering all strategic opportunities for the Company and the Project,” said George Bee, President and Chief Executive Officer.
The company targets a construction decision as soon as the second half of 2026, with first production potentially in late 2028 following an 18 to 24-month construction timeline.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Leave a comment