U.S. Gold Corp Chairman Discusses New Funding and Upcoming Mining Permit
April 19, 2024 at 08:00 am EDT
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U.S. Gold Chairman Co-Founder Luke Norman joined Steve Darling from Proactive to announce the company's entry into a securities purchase agreement with certain investors, resulting in total gross proceeds of approximately $4.9 million dollars from pre-existing shareholders. This infusion of capital enhances U.S. Gold's financial position as it approaches a significant milestone—the anticipated receipt of a mining permit by the end of the second quarter of this year.
Norman emphasized that this additional capital will support further exploration and development of their projects. He highlighted the company's anticipation of pivotal changes in the upcoming months, particularly with the expected mining permit, which could substantially enhance the company’s value proposition. Given the strong performance of the copper and gold markets, the timing aligns well with U.S. Gold Corp’s strategic objectives.
Norman outlined the firm's plans to initiate drilling operations and explore additional opportunities around their CK project, leveraging the recent capital infusion. He also underscored the favorable regulatory environment in Wyoming, where U.S. Gold Corp is poised to become the first hardrock mine in nearly a century. Norman noted the state’s enthusiastic support for mining, which is significant amid the broader industry’s shift due to ESG (Environmental, Social, and Governance) concerns.
Overall, U.S. Gold Corp remains well-positioned to capitalize on these opportunities, bolstered by strong community and federal backing. As the company advances towards its goals, investors can expect continued progress and value creation in the coming months. Stay tuned for further updates as U.S. Gold Corp continues to execute its strategic vision and drive growth in the mining sector.
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Proactive Canada
+1 604-688-8158
action@proactiveinvestors.com
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Copyright (c) 2024 TheNewswire - All rights reserved., source Press Releases
U.S. Gold Corp. is a gold development and exploration company. The Company has a portfolio of exploration properties. The Company owns certain mining leases and other mineral rights comprising the CK Gold Project in Wyoming, the Keystone Project in Nevada and the Challis Gold Project in Idaho. The CK Gold Project deposit is a development stage, large-tonnage, gold-copper deposit with high-grade mineralization exposed at the surface surrounded by a large, low-grade zone with potential for expanding resources. The CK Gold Project property comprises about 1,120 acres and is 100% owned by the Company. The Challis Gold Project is located about 75 kilometers (kms) southwest (SW) of Salmon, ID and 20 kms SW of Revival Gold's Beartrack Project, within the Tertiary Challis Volcanic Field. The Keystone project is a Carlin-type gold deposit exploration project located on Nevada's Cortez Trend, one of the world's most prolific gold mining trends and home to some of North America's largest mines.