OUR NEW PROFILE IS: (NASDAQ: USAU)
Alliance Global Partners analyst, Jake Sekelsky, put a $25.00 target on USAU
Electric vehicles use more than double the copper of an internal combustion engine automobile, and the metal is also used heavily in EV infrastructure. Copper is key to electric vehicles, wind, and solar power, as well as the infrastructure that transports and stores renewable energy
U.S. focused gold exploration and development company advancing high potential projects in WY, NV and ID
View the INVESTOR PRESENTATION HERE
We have another profile for tomorrow’s session that we want you to take a look at and research.
Pull up USAU immediately.
Let’s take a look at some of the major catalysts:
- Promising portfolio, instable and mining friendly
U.S. jurisdictions. The portfolio offers investors both potential near- term production and sizeable blue-sky exploration
- Team of accomplished explorers and proven company builders, who have made, and financed, the discovery and development of numerous world class gold assets
- CK Gold Project offers potential exposure to compelling value, and potential near-term production in mining friendly Wyoming
- Keystone offers exposure to significant potential exploration upside– entire districts on Nevada’s prolific Cortez Trend. We believe Challis Gold to be a high potential exploration project located in Idaho
- The company has a tight share structure (9.3M shares out standing), with a large audience – listed on NASDAQ
With centuries of history as a store of value in uncertain times, gold is experiencing high levels of demand. (53)
Right now, gold is hovering in record-high territory. Demand for the asset jumped 12% year over year for the first half of 2022, according to a World Gold Council report. (53)
In fact, over the past year, gold is already quietly outperforming the S&P 500…(78)
Some of the world’s smartest investors are jumping in, too.(78) David Einhorn, founder of Greenlight Capital, owns a gold position worth $40 million. Billionaire bond king Jeffrey Gundlach told Yahoo Finance: “Gold is going to go a lot higher.”(78)
Egyptian billionaire Naguib Sawiris says a QUARTER of your portfolio should be in gold as inflation creeps higher… While legendary hedge-fund manager John Paulson has invested more than $200 million into this space. But perhaps the most surprising was when real estate Billionaire Sam Zell, who spent his career arguing AGAINST gold… is now buying gold as a hedge against inflation.
But it doesn’t stop there…
Billionaire hedge-fund founder Ray Dalio told readers not long ago he sees a paradigm shift happening in the gold market. He compared today’s price movements with historical turning points like: Gold’s historic 2,300% leap in the 1970s from $35 to $850 per ounce after President Nixon took the U.S. off the gold standard…
And in the early 2000s, when gold tripled in value – soaring from under $300 per ounce in 2000 to $1,000 by 2008.(78)
But some are saying Gold could go much higher…
Gold surges to 6-month high, and analysts expect records in 2023.(75)
According to commentary published on CNBC.com, Gold prices could surge to $4,000 an ounce in 2023 as recession fears persist, said Juerg Kiener, managing director and chief investment officer of Swiss Asia Capital.
Gold prices could surge to $4,000 per ounce in 2023 as interest rate hikes and recession fears keep markets volatile, said Juerg Kiener, managing director, and chief investment officer of Swiss Asia Capital. (74)
The price of the precious metal could reach between $2,500 and $4,000 sometime next year, Kiener told CNBC’s “Street Signs Asia.”(74)
There is a good chance the gold market sees a major move, he said, adding “it’s not going to be just 10% or 20%,” but a move that will “really make new highs.”(74)
Kiener explained that many economies could face “a little bit of a recession” in the first quarter, which would lead to many central banks slowing their pace of interest rate hikes and make gold instantly more attractive. He said gold is also the only asset that every central bank owns. (74)
According to the World Gold Council, central banks bought 400 tonnes of gold in the third quarter, almost doubling the previous record of 241 tonnes during the same period in 2018. (74)
Driving Demand For Gold(53)
There are several factors that have created an almost perfect storm for gold.
Gold’s Role in Electric Vehicles: Gold is a metal that has been used in batteries for electric vehicles (EVs) for many years. While gold is not the most abundant metal on Earth, it is one of the most conductive. It makes gold an ideal material for use in EV batteries, as it helps to ensure that electricity can flow freely and efficiently throughout the battery.(59)
Gold is also non-reactive, meaning it won’t rust or degrade over time, making it a perfect material for long-term use in EVs. While gold is not the most abundant metal on Earth, it is still a very valuable resource essential for producing electric vehicles. (59)
Record High Inflation: Inflation is at a 40-year high. Conflict in eastern Europe snarled supply chains and China’s strict CV-19 response continue to create incredible inflationary pressures. Gold has been a traditional hedge against inflation. When inflation rises, the value of the dollar goes down. Since gold holds its value, it costs more dollars per ounce to purchase. Therefore, the investor can preserve their total wealth. (53)
Aggressive Interest Rate Hikes: With rising prices hurting every American, the Federal Reserve has made taming inflation its priority. To do so, they began a series of increasingly higher interest rate hikes in March. The hikes quickly grew steeper as inflation remained at historic heights.
The price of gold is thought to go down as interest rates go up because higher-yielding investments become more appealing. Yet, there is little evidence that gold is consistently weakened by federal funds rate hikes. (53)
Looming Recession: The Federal Reserve hopes to achieve a “soft landing,” contracting the economy just enough to tame inflation but not cause a recession. Major banks don’t share the Fed’s optimism. Their analysts currently predict that there is a 1 in 3 chance of a recession hitting. Historically, gold increases in value during a recession. (53)
An all-electric future depends heavily on copper, gold, and other precious metals. (54)
An all-electric future depends heavily on copper, gold, and other metals. (54) Looming supply shortfalls could hamper the nations’ goals of reaching net-zero emissions by 2050. (54) Electric vehicles, solar and wind power, and batteries for energy storage all run on copper. An EV requires 2.5 times as much copper as an internal combustion engine vehicle. (54) Copper is used throughout electric vehicles, charging stations, and supporting infrastructure because of the metal’s durability, high conductivity, and efficiency. (72)
Meanwhile, solar and offshore wind need two times and five times, respectively, more copper per megawatt of installed capacity than power generated using natural gas or coal. (54)
Copper is also key to the infrastructure that transports renewable energy, thanks in part to its electrical conductivity and low reactivity. Its uses include cables, transistors, and inverters. (54)
Demand for metals and minerals that fuel our future will ultimately create new world orders, as countries rush to secure supplies of copper, lithium, nickel, and other vital raw materials. (54)
Unless a significant new supply of copper and gold becomes available, climate goals will be short-circuited and remain out of reach.(54)
Recent Reports indicate the potential of over 1,00,000 ounces of Gold and over 240,000,000 million pounds of Copper at U.S. Gold Corp. (NASDAQ: USAU)’s CK Gold Project. (50)
How the Inflation Reduction Act Will Spur a Revolution in Electric Vehicle Battery Supply Chains (63)
Batteries are an essential part of the clean energy transition. The International Energy Agency estimates that demand for battery minerals, including aluminum, copper, cobalt, and lithium, will grow sevenfold by 2030. Domestic mineral supply chains will need to catch up. The United States alone will need 500,000 metric tons per year of unrefined lithium by 2034 just to power EVs, but it currently accounts for only 1 percent of global lithium production. (63)
In the same period, a rapidly industrializing China has created a near-monopoly on many of these minerals. Although it mines around 1 percent of the world’s cobalt, China is responsible for refining and exporting roughly 80 percent of the world’s supply. (63)
To catch up, the United States will need to invest $175 billion in battery production in the next three years.(63)
Recent Reports indicate the potential of over 1,000,000 ounces of Gold and over 240,000,000 million pounds of Copper at U.S. Gold Corp.’s CK Gold Project. (50)
The CK Gold Project was reportedly discovered in 1881, was high-graded and saw limited mining. The first exploration work reported was drilling by ASARCO in 1938. Several additional rounds of drilling have been conducted since that time. In 1972 Henrietta Mines Ltd. acquired the property and completed a comprehensive program of exploration and development. (50)
The CK Gold Project property is located in the Silver Crown mining district of southeast Wyoming, approximately 20 miles west of the city of Cheyenne, on the southeastern margin of the Laramie Range. (50)
The property comprises about 1,120 acres (2 square miles) and is 100% owned by U.S. Gold Corp. (50)
The project offers the company near-term, open-pit production potential as well as compelling value. (50)
Prefeasibility Study Highlights: (50)
Mineral Resources – 1.58 million gold equivalent (“AuEq”) ounces of Measured and Indicated (M+I) Resources (50)
– An additional 0.357 million AuEq ounces of inferred resource
– M+I includes: Gold – 1.110 million ounces and Copper – 280 million lbs
Mineral Reserves – 1.44 million AuEq ounces of Proven and Probable (P1 and P2) Reserves (50)
– P1 and P2 include: Gold – 1.010 million ounces and Copper – 248 million lbs
10-year Mine Life at 20,000 short tons per day process rate(50)
– Average AuEq production: 108,500 ounces per year
– First 3 years: 135,300 AuEq ounces per year
Initial Capital: $221 million (50)
– Potential attractive financing terms from equipment suppliers and development capital sources
– 2-year Payback
Robust Economics – 39.4% IRR before tax and 33.7% IRR after tax (50)
– NPV (5%): $323 million and $266 million, before and after tax, respectively
– All in Sustaining Cost (“AISC”) at $800 per AuEq ounce
– Assumes $1,625/ounce gold price and $3.25/lb copper price
– Highly leveraged to increase metals prices
– Aggregate sales from mine waste rock, proven to be excellent quality
– FS-level value engineering and plant optimization
– Ongoing metallurgical testing to enhance recovery of gold and copper<
– Resource expansion potential at depth and to the south-east
Permitting and Development (50)
– Project footprint under the jurisdiction of Wyoming agencies
– Potential to submit mine permit in 2022 and receive approval in 2023
The CK Gold Project resource is based upon 160 drill holes totaling 28,500m and contains an oxide, mixed oxide-sulfide, and sulfide rock types. The CK Gold Project mineralization is characterized by an extraordinarily even distribution of metal grades occurring as a large body of disseminated and vein / stockwork gold, silver, and copper mineralization. (50)
The SK-1300 PFS study using base case prices of $1625/oz gold and $3.25/lb copper indicates a 10-year project with a manageable capital requirement of $221 million. (50)
Over the project life, a total of 248.8 million pounds of copper and 1,017,000 ounces of gold are projected to be produced based on the PFS throughput assumptions. The project shows a pre-tax NPV (5%) of $323.3 million and an IRR of 39.4%. The project enjoys an ideal geopolitical location in Wyoming; the State has been very supportive of efforts to advance the project. (50)
U.S. Gold Corp. has assembled a team to both continue expanding CK Gold Project’s current gold and copper resource and to advance the project towards production. In addition, the company is developing effective community and government relations programs in order to minimize any future social challenges. (50)
U.S. Gold Corp. Announces the sale of its interest in the Maggie Creek Property for $2.75 million to two of the world’s largest mining companies.(65)
Nevada Gold Mines is a joint venture between Barrick (61.5%) and Newmont (38.5%) that combined our significant assets across Nevada in 2019 to create the single largest gold-producing complex in the world.
Nevada Gold Mines is operated by Barrick.
On November 10, 2022, U.S. Gold Corp. (NASDAQ: USAU) announced the execution on November 9, 2022, of a transaction related to the Maggie Creek Property among Nevada Gold Mines LLC. (65)
Renaissance Exploration, Inc., which is an indirect wholly-owned subsidiary of Orogen, and the Company’s wholly-owned subsidiary, Orevada Metals, Inc., are parties to an Exploration Earn-In Agreement dated February 19, 2019, pursuant to which Orevada, by making certain payments and incurring certain exploration expenditures, has the right to earn at least a 50% interest and up to a 70% interest in the Maggie Creek Property, owned by RenEx, in Eureka County, Nevada. (65)
Pursuant to an Assignment and Assumption Agreement dated November 9, 2022, among NGM, Orogen, RenEx, U.S. Gold, and Orevada, U.S. Gold caused Orevada to assign its interest in the Original Earn-In Agreement to NGM. (65)
Simultaneous with that assignment, NGM and RenEx entered into an Amended and Restated Exploration Earn-In Agreement, pursuant to which NGM can earn a 100% interest in the Maggie Creek Property. (65)
As consideration for the assignment of the Original Earn-In Agreement to NGM, U.S. Gold received an upfront cash payment of $2.75 million dollars from NGM, and NGM agreed that if it exercises the NGM Option and acquires the Maggie Creek Property, it will grant to U.S. Gold a 0.5% Net Smelter Returns royalty on all gold and other recovered and saleable minerals from the Maggie Creek Property, pursuant to a separate royalty agreement between NGM and U.S. Gold, the terms of which have been fully agreed as part of the Transaction. (65)
Under the U.S. Gold Royalty Agreement, NGM will have the right to buy back one-half of the U.S. Gold Royalty (reducing the royalty to 0.25% of Net Smelter Returns) for a fixed price of $500,000.(65)
In addition, the U.S. Gold Royalty Agreement will provide that U.S. Gold waives the first $800,000 of production royalty payments owed to it, regardless of whether NGM exercises its buy-back rights.(65)
Under the U.S. Gold Royalty Agreement, NGM will also have a right of first refusal to purchase the U.S. Gold Royalty if U.S. Gold decides to sell that royalty.(65)
Commenting on the transaction, George Bee, President and CEO of U.S. Gold, said,(65)
Mr. Bee went on to say, “Such exploration is very costly and, for U.S. Gold, drilling Maggie Creek comes at a time when there is not a great deal of appetite in the capital markets to fund the resource sector and exploration in particular. We believe that pursuing deeper high-grade mineralization is best conducted by NGM, who have decades of experience on the Carlin Trend and understand the gold occurrences in the target horizons. We are content to have played a part in what we believe will be another extension to the prolific Carlin Trend, to have recovered more than our investment in the Maggie Creek property, and retained an interest, via a production royalty, for our shareholders in what we hope will be future exploration success. Furthermore, we can now focus exploration efforts on our Keystone property, a 100% owned 20-square mile land package on the Battle Mountain Eureka/Cortez Trend, a highly prospective area just 10 miles on trend from the NGM Cortez Complex.”(65)
U.S. Gold Corp. – Q1 2023 Update, CK Gold Project on Track
CHEYENNE, Wyo., April 26, 2023 /PRNewswire/ — As U.S. Gold Corp. (“U.S. Gold,” the “Company,” “we,” “our” or “us”) (NASDAQ: USAU) begins the second quarter of calendar year 2023, we would like to inform our shareholders and investors that we remain on track with our objectives. Despite the uncertainty of the financial markets and our banking system, precious metals continue to be primed for a bright future, with gold, silver and copper leading the charge. Precious metal equities continue to outperform on Wall Street and trend towards historic highs. In fact, a Kitco News’ online survey, recently projected that gold’s value could top out the year at a record $2,100 per ounce. This makes us extremely excited about the future of U.S. Gold. Earlier this month we closed a $5 million registered direct offering, to be used for general working capital which puts us in a solid position fiscally.
Those that have been following us closely are aware that in 2020 we pivoted toward the development of our CK Gold Project in Wyoming, lowering priority, for now, on our outstanding exploration assets in Nevada and Idaho. Let there be no mistake, permitting and developing a new mine are not easy tasks. We appreciate the support of our shareholders as we advance through the rigorous steps that are necessary to take our CK Gold Project from a resource with potential, to a wealth and opportunity-generating mine. We believe we are on track.
Update on activities and major milestones for the CK Gold Project
Following the Prefeasibility Study (PFS) published in December 2021, work continued toward a Feasibility Study (FS) which was largely completed in 2022. The PFS contemplated a gold price of $1625 per ounce and $3.25 per pound of copper. While inflation will likely push up some of the costs identified in the PFS, the revenue side of the equation will be positively impacted by, among other things, the projection of higher gold and copper prices. It is anticipated that the CK Gold Project revenues will count on approximately 70% of its revenue from gold, but of increasing importance is the 30% from copper sales in the concentrate that we plan to ship.
As things now stand, the Company plans to have the FS available in Q3 2023. Finalization rests on certain aspects that needed further clarity.
- Energy Prices. In the runup to the winter months, oil and fuel prices were surging for a number of reasons, principally, geopolitics and the Ukraine conflict. We now see prices stabilizing and have a better view of energy prices in general, which will affect both capital and operating costs associated with the project.
- Supply Chain. Supply chain uncertainty resulted in equipment manufacturers providing quotations and lead times on equipment that were overly conservative. As COVID-19 has been largely dealt with, manufacturing has ramped up and there is once again competitive tension in the market, resulting in more options and better prices for the project.
- Inflation and Economic uncertainty. Inflation pressure and higher interest rates still give rise to caution. While interest rates are high, it does appear that inflation is beginning to come under control, allowing more confidence in estimates.
- Project Royalty Rate. The project royalty rate is payable to the Office of State Lands and Investment (OSLI), from whom project mineral leases are granted. A recommendation was made by OSLI staff to the OSLI Board of Directors on April 6, 2023 and adopted that same day. The rate, set at 2.1% of the net receipts from the CK Gold Project, gives the Company certainty on this important parameter, which can now be reliably incorporated into our assessment of project economics. This royalty is earmarked for K-12 education in Wyoming, an important benefit supporting project development.
- Water Supply. Water in the western United States is a contentious issue after many years of drought and the paucity of water in the Colorado river system. U.S. Gold has been aware of this from the outset and sought to reduce the water necessary for the project with plans to install filter presses to capture water and reuse it, rather than implement a conventional tailings storage system. Having defined the water needed for the project, options for a water supply were investigated. A win-win scenario was chosen for the supply, wherein the City of Cheyenne through its Board of Public Utilities (BOPU) would supply the water needed. After mining and reclamation, the water that BOPU will sell to the Company will be needed to cater to the growing water use in the city and its surroundings. In the interim and for the life of the mine, there is surplus water, and the sale of that water will provide funding for the development of the BOPU system for future regional water needs. To firm up the water supply the following events/steps have been taken.
- At a City of Cheyenne council meeting in November 2022, the City Council approved an “Outside Water Users Agreement” that could be entered into between U.S. Gold and BOPU.
- In February, a Water Development and Purchase Agreement was ratified and signed between U.S. Gold and BOPU, contemplating the firm supply of up to 600 gallons per minute for the life of the project.
- Mine Operating Permit (MOP) and Closure Plan. On September 13, 2022, the permit application was submitted to the Wyoming Department of Environmental Quality’s Land Division. The submission was subject to a completeness review, which it passed, and went on to the technical review stage. The first round of comments from the technical review have now been received. The process is proceeding as anticipated and we do not see any issues in responding to the first round of technical commentary from the authority. As a reminder, the project falls under the jurisdiction of the state since the project lies within state and private ground. The Company anticipates that the permitting will continue through the balance of 2023 and most likely into early 2024.
- Industrial Siting Commission (ISC) Permit. Depending on the magnitude of capital expenditure, the State of Wyoming has a mechanism to cushion the impact of large investment projects on the local community, freeing up state funds for infrastructure and city and county service enhancements. The ISC permit cycle is shorter than the MOP cycle, and the Company should have concluded the proceedings ahead of U.S. Gold having a determination on the MOP. The steps on the ISC permit application are as follows:
- November 28, 2022 – mailed project description to 126 agencies and organizations, including projected impacts. Set date for and invited public to project open houses in Cheyenne and Laramie.
- December 14 and 15, 2022 – held open houses to discuss project with interested parties.
- February 21, 2023 – submitted ISC permit application.
- March 2023 – passed ISC completeness review and received initial comments.
- May 10, 2023 – scheduled hearing, followed by 90-day review (August 2023), leading up to a decision by the ISC.
- Updating the CK Gold Project Resource and Mine Plan. The PFS was based on the 2020 drilling and exploration program. The PFS plan was scheduled at 20,000 short tons per day (stpd) and 20-ft bench height cuts in the mine plan. The following enhancements are anticipated in the FS:
- Resource to incorporate 2021 drilling, capturing some of the additional mineralization we know to extend beyond the PFS-defined open pit.
- Switch to +/-30-ft bench heights to ease mine planning and help productivity and mine costs, maintaining the 20,000 stpd mill feed rate.
- Incorporate an ore stockpile strategy that allows the mine to present higher grade material to the mill sooner, resulting in better economic performance.
- Conclude mining sooner and reclaim stockpiled ore in the latter years of the project, allowing tailings to be deposited into the base of the mined-out pit, thereby reducing the size of the tailings facility and improving project economics in the final years.
- Repricing Capital Equipment. With the majority of the FS complete and all major equipment identified, the equipment needed for the project will be repriced. Factors that will affect the price include inflation, a new view on availability and supply, and interest and foreign exchange rates.
- Other Opportunities. While the project economics revolve around revenues from copper and gold, with copper and gold extraction into a concentrate for sale to smelters, there is a whole new revenue opportunity from the CK Gold Project that is being evaluated. In order to extract the gold and copper from the open pit, not only the ore containing the copper and gold must be moved but also other rock, normally referred to as waste rock. Some of this rock will be used to stabilize the dry stacked tailings pile and for reclamation; however, there will be over 30 million tons stacked and eventually reclaimed in a separate pile. This material has been tested and constitutes an excellent source of aggregate and ballast. While our plans and permit applications do not contemplate the commercialization of this material, the FS will identify the opportunity for later consideration.
- Other Activities. While the majority of the Company’s resources are aimed at the CK Gold Project, we continue to look for opportunities to advance our exploration assets. Having sold Maggie Creek to Nevada Gold Mines, our attention turns to Keystone, a phenomenal land package on the Eureka/Battle Mountain and Cortez gold trend, and our Challis property in Idaho.
On behalf of the entire team at U.S. Gold, we thank you for your interest in our Company and look forward to an exciting year ahead. Please do not hesitate to contact us through our website.
President and CEO, Director
U.S. Gold Corp.
PRESIDENT AND CEO
Mr. Bee is a senior mining industry executive, with deep mine development and operational experience. He has an extensive career advancing world-class gold mining projects in eight countries on three continents for both major and junior mining companies. Most recently in 2018 Mr. Bee concluded a third term with Barrick Gold as Senior VP Frontera District in Chile and Argentina to advance Pascua Lama feasibility as an underground mine. This capped a 16-year history with Barrick Gold with positions that included Mine Manager at Goldstrike during early development and operations, Operations Manager at Pierina Mine taking Pierina from construction to operations, and General Manager of Veladero developing the project from advanced exploration through permitting, feasibility and into production.
With his Barrick experience and having had eight years in South Africa working underground gold with Anglo American and open pit copper with Rio Tinto at Palabora Mine, Mr. Bee was well placed to advance projects internationally and domestically as a senior executive. This led to his appointment to various board and leadership positions at various companies. As COO of Aurelian Resources in 2007, he was in charge of project development for Fruta del Norte in Ecuador until Aurelian was acquired by Kinross Gold in 2008. Post-acquisition, moving on from Kinross, where he had also previously worked from 1996 to 1998 advancing projects in El Salvador and Nevada, he joined Andina Minerals as CEO in 2009. Andina and its 6 million-ounce Volcan Gold Project in Chile was acquired by Hochschild in 2013. By this time Mr. Bee had been appointed to the boards of Peregrine Metals and later Stillwater Mining and Jaguar Mining. In 2014, he also assumed the role of Chief Executive Officer of Jaguar Mining, operating mines in Brazil, as the company emerged from a financial restructuring process.
Mr. Bee is a graduate of the Camborne School of Mines in Cornwall, United Kingdom and is a member of the Institute of Corporate Directors with an ICD.D designation.
CHIEF FINANCIAL OFFICER AND CORPORATE SECRETARY
Mr. Eric Alexander has over 30 years of corporate, operational and business experience, and over 15 years of mining industry experience. Previously he served as Corporate Controller of Helix Technologies, Inc., a publicly traded software and technology company from April 2019 to September 2020. Prior to that, he served as the Vice President Finance and Controller of Pershing Gold Corporation, a mining company (formerly NASDAQ: PGLC), from September 2012 until April 2019. Prior to that, Mr. Alexander was the Corporate Controller for Sunshine Silver Mines Corporation, a privately held mining company with exploration and pre-development properties in Idaho and Mexico, from March 2011 to August 2012. He was a consultant to Hein & Associates LLP from August 2012 to September 2012 and a Manager with Hein & Associates LLP from July 2010 to March 2011. He served from July 2007 to May 2010 as the Corporate Controller for Golden Minerals Company (and its predecessor, Apex Silver Mines Limited), a publicly traded mining company with operations and exploration activities in South America and Mexico. In addition to his direct experience in the mining industry, he has also held the position of Senior Manager with the public accounting firm KPMG LLP, focusing on mining and energy clients. Mr. Alexander has a B.S. in Business Administration (concentrations in Accounting and Finance) from the State University of New York at Buffalo and is also a licensed CPA.
VICE PRESIDENT – EXPLORATION & TECHNICAL SERVICES
Mr. Francis has held many senior roles within the mining industry, including VP of Project Development for Aurcana Corporation, VP of Technical Services for Oracle Mining Corporation, VP of Resources for NovaGold Resources and Principal Geologist for AMEC Mining and Metals. Most recently, he consulted to U.S. Gold Corp. as Principal of Mineral Resource Management LLC, a consultancy providing technical leadership to the mining industry, as well as the CK Gold Project through his association with Gustavson Associates (a member of WSP) since September 2020. Mr. Francis is a member of the Board of Directors of Texas Mineral Resources Corporation. Mr. Francis is a “Qualified Person” as defined by SEC S-K 1300 and Canadian NI 43-101 reporting standards and holds both an M.S. degree and a B.A. in geology from the University of Colorado.
THIS WEBSITE/NEWSLETTER IS A PUBLICATION OF MICROCAPDAILY, LLC, HEREIN REFERRED TO AS MCD. MCD’S REPORTS/RELEASES ARE A COMMERCIAL ADVERTISEMENT AND ARE FOR GENERAL INFORMATIONAL PURPOSES ONLY. MCD IS ENGAGED IN THE BUSINESS OF MARKETING AND ADVERTISING COMPANIES FOR MONETARY COMPENSATION.
WE HAVE BEEN COMPENSATED A FEE OF TEN THOUSAND USD FOR 1 ONE DAY USAU AWARENESS CAMPAIGNS BY A THIRD PARTY, SICA MEDIA, LLC. WE HAVE PREVIOUSLY BEEN COMPENSATED A FEE OF THIRTEEN THOUSAND USD FOR 1 ONE DAY USAU AWARENESS CAMPAIGNS BY A THIRD PARTY, LEGENDS MEDIA, LLC. WE HAVE PREVIOUSLY BEEN COMPENSATED A FEE OF FIFTEEN THOUSAND USD FOR 1 ONE DAY USAU AWARENESS CAMPAIGNS BY A THIRD PARTY, LEGENDS MEDIA, LLC IN 2021.
BY SUBSCRIBING TO OR OTHERWISE USING THIS WEBSITE/NEWSLETTER, YOU AGREE TO HOLD MCD AND ITS OPERATORS, OWNERS, AND EMPLOYEES HARMLESS AND TO COMPLETELY RELEASE THEM FROM ANY AND ALL LIABILITY DUE TO ANY AND ALL LOSS, DAMAGE, OR INJURY THAT YOU MAY INCUR, MONETARY OR OTHERWISE. INVESTING IN MICRO-CAP AND GROWTH SECURITIES IS HIGHLY SPECULATIVE AND CARRIES AN EXTREMELY HIGH DEGREE OF RISK. NEVER INVEST IN ANY STOCK FEATURED ON MCD’S SITE OR NEWSLETTER UNLESS YOU CAN AFFORD TO LOSE YOUR ENTIRE INVESTMENT. THE DISCLAIMER IS TO BE READ AND FULLY UNDERSTOOD BEFORE USING MCD’S SERVICES, JOINING MCD’S SITE OR EMAIL/BLOG LIST, OR FOLLOWING ANY SOCIAL NETWORKING PLATFORMS MCD MAY USE.PLEASE NOTE WELL: MCD IS NOT A REGISTERED INVESTMENT ADVISOR, BROKER DEALER OR A MEMBER OF ANY ASSOCIATION FOR OTHER RESEARCH PROVIDERS IN ANY JURISDICTION WHATSOEVER. MCD IS NOT AFFILIATED WITH ANY EXCHANGE, ELECTRONIC QUOTATION SYSTEM, THE SECURITIES AND EXCHANGE COMMISSION, OR FINRA. NONE OF THE MATERIALS OR ADVERTISEMENTS HEREIN CONSTITUTE OFFERS OR SOLICITATIONS TO PURCHASE OR SELL SECURITIES OF THE COMPANIES PROFILED.THE INFORMATION CONTAINED HEREIN IS BASED ON INFORMATION SUPPLIED BY THE COMPANIES PROFILED, PUBLICLY AVAILABLE INFORMATION, PRESS RELEASES, AND OTHER SOURCES WHICH MCD BELIEVES TO BE RELIABLE, BUT IS NOT GUARANTEED BY MCD AS BEING ACCURATE AND DOES NOT PURPORT TO BE A COMPLETE STATEMENT OR SUMMARY OF THE AVAILABLE DATA. MCD IS NOT RESPONSIBLE FOR ANY CLAIMS MADE BY THE COMPANIES PROFILED. INVESTORS SHOULD NOT RELY ON THE INFORMATION CONTAINED IN THIS WEBSITE/NEWSLETTER IN DECIDING TO INVEST OR MAKE OTHER FINANCIAL DECISIONS. RATHER, INVESTORS SHOULD USE THE INFORMATION CONTAINED IN THIS WEBSITE/NEWSLETTER AS A STARTING POINT FOR DOING ADDITIONAL INDEPENDENT RESEARCH ON THE FEATURED COMPANIES. MCD STRONGLY ENCOURAGES READERS AND INVESTORS TO CONDUCT A COMPLETE AND INDEPENDENT INVESTIGATION OF THE RESPECTIVE COMPANIES, INCLUDING BY REVIEWING SEC FILINGS (FORMS 10-Q, 10-K, 8-K, 3, 4, 5, SCHEDULE 13D) AND BY CONSULTING YOUR OWN TAX, BUSINESS, FINANCIAL, AND INVESTMENT ADVISORS.THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 PROVIDES A SAFE HARBOR IN REGARD TO FORWARD-LOOKING STATEMENTS. ANY STATEMENTS THAT EXPRESS OR INVOLVE DISCUSSIONS WITH RESPECT TO PREDICTIONS, EXPECTATIONS, BELIEFS, PLANS, PROJECTIONS, OBJECTIVES, GOALS, ASSUMPTIONS OR FUTURE EVENTS OR PERFORMANCE ARE NOT STATEMENTS OF HISTORICAL FACT, AND MAY BE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON EXPECTATIONS, ESTIMATES, AND PROJECTIONS AT THE TIME THE STATEMENTS ARE MADE THAT INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS OR EVENTS TO DIFFER MATERIALLY FROM THOSE PRESENTLY ANTICIPATED. FORWARD-LOOKING STATEMENTS MAY BE IDENTIFIED THROUGH USE OF WORDS SUCH AS PROJECTS, FORESEES, EXPECTS, ANTICIPATES, ESTIMATES, BELIEVES, UNDERSTANDS, MAY, COULD, OR MIGHT. THERE IS NO GUARANTEE THAT PAST PERFORMANCE WILL BE INDICATIVE OF FUTURE RESULTS.
Source 1: https://www.investopedia.com/ask/answers/09/gold-standard.asp
Source 2: https://www.investopedia.com/terms/s/safe-haven.asp
Source 3: https://goldprice.org/spot-gold.htm
Source 4: https://d1io3yog0oux5.cloudfront.net/usgoldcorp/files/video/U.S.+Gold+Corp.+I+CK+Gold+Project.mp4
Source 5: https://www.cnbc.com/2021/05/06/copper-is-the-new-oil-and-could-hit-20000-per-ton-analysts-say.html
Source 6: https://www.visualcapitalist.com/why-gold-mining-stocks-outperform-gold-bull-markets/
Source 7: https://sprott.com/insights/sprott-gold-report-gold-the-simple-math/#
Source 8: https://www.prnewswire.com/news-releases/us-gold-corp-announces-the-appointment-of-senior-mining-industry-executive-mr-george-bee-as-president-301111513.html
Source 9: https://youtu.be/QO1d5tUdE5Q
Source 10: https://sciencing.com/open-pit-mining-pros-cons-12083240.html
Source 11: https://www.intechopen.com/chapters/71931
Source 12: https://finance.yahoo.com/news/healthy-correction-bear-market-silver-141406103.html
Source 13: https://www.barchart.com/stocks/quotes/USAU/performance
Source 14: https://www.investing.com/equities/dataram-corp-technical
Source 15: https://www.vaneck.com/us/en/investments/junior-gold-miners-etf-gdxj/
Source 16: https://www.barchart.com/etfs-funds/quotes/GDXJ/performance
Source 17: https://www.reviewjournal.com/business/2-new-major-finds-may-extend-nevadas-gold-boom-for-years-1972010/
Source 18: https://www.usgoldcorp.gold/properties/challis-gold/overview
Source 19: https://goldbull.ca/big-balds/
Source 20: https://investingnews.com/innspired/cortez-trend-nevada/
Source 21: https://d1io3yog0oux5.cloudfront.net/_99cb187746de0507d7057beee5eadd57/usgoldcorp/db/280/795/pdf/USAU+Corporate+Presentation+May+2021.pdf
Source 22: https://www.usgoldcorp.gold/news-media/press-releases/detail/125/u-s-gold-corp-receives-bureau-of-land-management-approval Source 23: https://www.mining-technology.com/projects/carlin/
Source 24: https://www.prnewswire.com/news-releases/us-gold-corp-highlights-progress-on-challis-gold-project-as-it-moves-toward-plan-of-operations-301299634.html
Source 25: https://www.usgoldcorp.gold/properties/challis-gold/overview
Source 26: https://finance.yahoo.com/news/u-gold-corp-amplifies-potential-130919049.html
Source 27: https://www.foxbusiness.com/economy/yellen-says-americans-havent-experienced-current-inflation-rate-in-a-long-time
Source 28: https://d1io3yog0oux5.cloudfront.net/_f5ca51969ee43abae80b0d958cd37587/usgoldcorp/db/280/795/pdf/USAU+Corporate+Presentation+Oct+2021.pdf
Source 29: https://bit.ly/3mlsA0o
Source 30: https://www.cnbc.com/2021/10/25/economists-expect-shipping-problems-to-linger-well-into-2022.html
Source 31: https://www.thebalance.com/gold-prices-and-the-u-s-economy-3305656
Source 32: https://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=0&mn=0&dy=15&id=p23897033209&a=1042871741&listNum=3
Source 33: https://county17.com/2021/10/14/tcs-cheyenne-gold-mine/
Source 34: https://www.wyomingnews.com/news/local_news/potential-gold-copper-mine-could-generate-millions-for-state/article_5ff26327-d9f5-5af0-8762-a26fed274d66.html
Source 35: https://www.cnn.com/2021/10/25/investing/tesla-stock-trillion-dollar-market-cap/index.html
Source 36: https://alphaomegarecycling.com/electric-cars-role-may-increase-demand-base-metals/#:~:text=A%20fully%20electric%20car%20uses,upside%20in%20other%20green%20technologies.
Source 37: https://www.yahoo.com/now/u-gold-corp-amplifies-potential-130919049.html
Source 38: https://www.usgoldcorp.gold/news-media/press-releases/detail/137/u-s-gold-corp-outlines-2021-field-season-activities-and
Source 39: https://www.usgoldcorp.gold/news-media/press-releases/detail/129/u-s-gold-corp-successfully-completes-2021-drilling-at
Source 40: https://schrts.co/ApjTJDre
Source 41: https://schrts.co/eManmckD
Source 42: https://schrts.co/niFycXVH
Source 43: https://schrts.co/urgMpVjn
Source 44: https://www.barchart.com/stocks/quotes/usau/opinion
Source 45: https://money.com/gold-vs-gold-miner-stocks/
Source 46: https://www.foxbusiness.com/economy/producer-inflation-set-record-for-sixth-straight-month
Source 47: https://www.etftrends.com/gold-silver-investing-channel/gold-hits-1800-as-yields-take-a-dip/
Source 48: https://www.mining-technology.com/analysis/whats-in-the-inflation-reduction-act-for-miners/
Source 49: https://www.cnbc.com/2022/07/14/copper-is-key-to-electric-vehicles-wind-and-solar-power-were-short-supply.html
Source 50: https://www.usgoldcorp.gold/overview
Source 51: https://www.barchart.com/stocks/quotes/USAU/price-history/historical
Source 52: https://fortune.com/2022/04/28/global-gold-demand-soared-first-quarter-safe-haven-assets-inflation/
Source 53: https://www.forbes.com/sites/forbesfinancecouncil/2022/10/11/understanding-todays-gold-market/?sh=289e27664885
Source 54: https://www.cnbc.com/2022/07/14/copper-is-key-to-electric-vehicles-wind-and-solar-power-were-short-supply.html
Source 55: https://www.marketwatch.com/investing/stock/gold?mod=search_symbol
Source 56: https://www.marketwatch.com/investing/stock/nem?mod=mw_quote_recentlyviewed
Source 57: https://schrts.co/ZtfQnrgZ
Source 58: https://media.istockphoto.com/photos/gold-barssilvercopperplatinum1000-grams-pure-metalbusiness-investment-picture-id1366606966?k=20&m=1366606966&s=170667a&w=0&h=O0RuqQ4HVQ0bkJQhrehWMQ3SgiUqqXryk0F49c-KVO0=
Source 59: https://sebangsanetwork.com/en/ev-battery-components-what-precious-metals-are-used-in-electric-cars-batteries/#:~:text=Gold%20is%20a%20metal%20that,one%20of%20the%20most%20conductive.
Source 60: https://www.marketwatch.com/investing/stock/usau?mod=search_symbol
Source 61: https://stockstotrade.com/low-float-stocks/
Source 62: https://www.greenbiz.com/sites/default/files/2022-09/shutterstock_751358878.jpg
Source 63: https://rmi.org/how-the-inflation-reduction-act-will-spur-a-revolution-in-ev-battery-supply-chains/
Source 64: https://www.generalkinematics.com/wp-content/uploads/2018/04/New-GK-2018-Size-2.png
Source 65: https://finance.yahoo.com/news/u-gold-corp-announces-sale-133000818.html
Source 66: https://www.usgoldcorp.gold/properties/ck-gold-project/photo-video-gallery#ck-gold-project-wyoming
Source 67: https://d1io3yog0oux5.cloudfront.net/usgoldcorp/files/docs/USAU_Maggie_Creek_Presentation+November+2019.pdf
Source 69: https://bloximages.chicago2.vip.townnews.com/wyomingnews.com/content/tncms/assets/v3/editorial/d/01/d01f6b6e-39e0-11ed-a9e7-ef8479b61334/632b61756f168.image.jpg?resize=333%2C500
Source 70: https://media-exp1.licdn.com/dms/image/C5603AQHvW_GRHsDCfw/profile-displayphoto-shrink_800_800/0/1601400190676?e=2147483647&v=beta&t=gy21S0NecEO0d8WPxuDDei0fbnCJudX6vmOtmpVjWrk
Source 71: https://www.linkedin.com/in/kevin-francis-73197631/
Source 72: https://www.copper.org/publications/pub_list/pdf/A6191-ElectricVehicles-Factsheet.pdf
Source 73: https://d1io3yog0oux5.cloudfront.net/_d6663809cff93591bd32368521d5438a/usgoldcorp/db/280/2223/pdf/USAU+Corporate+Presentation+January+2023.pdf
Source 74: https://www.cnbc.com/2022/12/22/gold-at-4000-analysts-share-their-2023-outlook-for-prices.html
Source 75: https://www.cnbc.com/2023/01/03/gold-surges-to-6-month-high-and-analysts-expect-new-records-in-2023.html
Source 76: https://www.cmegroup.com/openmarkets/commodities/2021/copper-role-in-electric-vehicle-production.html
Source 77: https://schrts.co/kHvbgZfk
Source 78: https://secure.commoditysupercycles.com/?cid=MKT701037&eid=MKT705139&assetId=AST275780&page=1
Source 79: https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1372085619/image_1372085619.jpg?io=getty-c-crop-16-9
Source 80: https://investmentu.com/low-float-stocks/
Source 81: https://www.sofi.com/learn/content/understanding-low-float-stocks/
Source 82: https://www.investopedia.com/terms/n/nanocap.asp
Source 83: https://www.benzinga.com/money/best-nano-cap-stocks