U.S. Gold Corp. forms special committee to assess M&A interest

U.S. Gold Corp. (NASDAQ: USAU) has formed a special committee to evaluate merger and acquisition interest in its CK Gold Project in southeast Wyoming, according to a company statement released Aug. 20, 2026.

The company said it has retained advisors to assess interested parties and is also in discussions with potential development capital sources. U.S. Gold Corp. said it believes the CK Gold Project is undervalued relative to current market conditions.

The company is also considering a spin-out of its Keystone Project in Nevada as a standalone exploration company, citing a goal of minimizing shareholder dilution.

A March 2026 feasibility study for CK Gold outlined an after-tax net present value of $632 million at $3,250 per ounce gold, $4.50 per pound copper, and $40 per ounce silver, with a 27% after-tax internal rate of return and an approximately 2.5-year payback period. At spot prices of approximately $4,500 per ounce gold, the company said the after-tax NPV would be approximately $1.37 billion with a roughly 1.6-year payback.

The feasibility study outlines an 11-year mine life at approximately 20,000 tonnes per day, with average production of approximately 85,000 gold-equivalent ounces per year. Proven and probable reserves total approximately 1.6 million gold-equivalent ounces. Initial capital is estimated at approximately $394 million.

The company reported a cash position of approximately $31 million as of April 30, 2026, with approximately 16.5 million shares outstanding. A construction decision is targeted for the second half of 2026, with first production potentially as soon as late 2028.

A drone magnetic and gravity survey completed mid-2026 identified new anomalies at CK Gold extending beyond the proposed pit. The company said a resource expansion drilling program is being developed to evaluate the new targets.

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