U.S. Gold Is Fortified By Assets, $7.3 Million Boost, And Soaring Gold: Analyst

H.C. Wainwright analyst Heiko F. Ihle reiterated a Buy rating on U.S. Gold Corp. USAU with a price forecast of $15.

Ihle highlighted that U.S. Gold Corp. released key details on its upcoming Feasibility Study, or FS on June 24, following the updated Pre-Feasibility Study published in February 2025.

The analyst noted that the FS will include a site-specific Association for Advancement of Cost Engineering (AACE) Class 3 cost estimate and a detailed execution plan aimed at aligning with the current project timeline.

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The FS is expected to be finalized by the fourth quarter, and he writes it will outline a practical and appealing path forward for the fully permitted CK Gold Project.

This apart, Ihle stated that his valuation of U.S. Gold Corp. is based on a discounted cash flow (DCF) model for the CK Gold Project, using a 15% discount rate, consistent with other early-stage mining projects in top-tier jurisdictions.

His DCF model yields a value of $206.9 million, or $11.69 per share, for the CK asset. He assigns an additional $50 million combined value for the Challis ($28 million), Keystone ($20 million), and Orevada ($2 million) projects.

Ihle also noted that these non-core asset estimates appear increasingly conservative given current spot gold prices of $3,325 per ounce.

Ihle highlighted that a recent $7.3 million cash boost from exercised warrants should support near-term operational needs as the company works toward future milestones.

The analyst emphasized that U.S. Gold remains well-positioned to drive long-term shareholder value, especially amid favorable gold prices and recent progress.

He further highlighted the company’s impending inclusion in the Russell 3000 and Russell 2000 indexes, effective June 30, 2025. This move is poised to significantly increase trading volume as index funds adjust their portfolios to include the stock.

Price Action: USAU shares are trading lower by 1.76% to $12.60 at last check Wednesday.

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