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Gold Prices Could Hit $2,500 by Year End(1)

Gold Exploration and Development Company, US Gold Corp. (NASDAQ:USAU), May Be in Prime Position

Gold could rally to approximately $2,100 in 2021, according to analysts at CIBC.(1)

After all, with the likelihood of more stimulus, higher inflationary risk, a weaker U.S. dollar, and central banks claiming that they’ll keep interest rates low, gold could push forward.

Analysts at Citi for example have a price target of roughly $2,500 on gold, and believe its catalysts compare favorably to those of the rally between 1970 and 1980.(2) Others, like Frank Holmes, CEO at U.S. Global Investors claim, “It’s quite easy to see gold going to around $4,000.”(3)

“The conditions that drove gold to an all-time high this year appear very much still in place. I think it’s just natural that once you get to an all-time high in an asset class, there’s some consolidation afterwards and that’s what we’re seeing right now in terms of the price. But the fundamental conditions are still here and I believe that they will be here for the next 12-15 months minimum as well,” said Granite Shares founder and CEO, Will Rhind, as quoted by CNBC.(2)

In addition, gold’s trend appears to remain firmly in place.

Granted, the price of gold seems to have dipped below its 200-day moving average.

However, with what seems to be an abundance of gold bulls, this dip could be short-lived once again. The last two times it seems to have declined below that average – mid-March 2020 and the end of November 2020 – it appears to have been short-lived.

While physical gold could be a good bet, the smaller exploration and development companies could benefit most. It’s no wonder why there seems to be such a strong interest in gold stocks such as US Gold Corp (NASDAQ:USAU).

The Top 12 Reasons to Consider US Gold Corp. (NASDAQ:USAU)

  1. Gold continues to appear to be a robust and safe-haven trade and last traded at approximately $1,825.(4)
  2. Gold seems to have pulled back from a 52-week high of around $2,089.20/oz. However, many analysts believe gold could be setting up to rally again thanks to stimulus and inflationary risks.
  3. Since 2018, prices have seemingly remained consistently above their 200-day moving average. Whenever prices did dip under that average, it only appears to have been temporary.
  4. Gold could be one of the “most undervalued” assets according to Elliott Management’s Paul Singer.(5)
  5. Analysts at Citi have a price target of roughly $2,500, and compare today’s catalysts to those of gold’s rally between 1970 and 1980. Not only could we see a weaker dollar, but inflationary risks, falling real yields, and the potential for further market volatility.(2)
  6. Gold exploration companies, like US Gold (NASDAQ:USAU) could be in a solid position to capitalize on gold’s potential.
  7. US Gold (NASDAQ:USAU) appears to have a promising portfolio in stable and mining friendly US jurisdictions. The portfolio could offer people both potential near-term production and sizable blue-sky exploration.(6)
  8. Its CK Gold Project offers potential exposure to compelling value and potential near-term production in mining-friendly Wyoming.(6)
  9. Its Keystone and Maggie Creek mines offer potential exposure to significant exploration upside – entire districts on Nevada’s prolific Carlin and Cortez Trends.(6)
  10. H.C. Wainwright appears to be bullish on the stock with a price target of approximately $17.50.(7)
  11. US Gold could have an exciting combination of later stage development assets and multiple potential exploration sites.
  12. US Gold has top-quality management and advisory teams with pedigrees of developing renowned gold projects.(6)

US Gold (NASDAQ:USAU) Appears to be Technically Appealing

After bottoming out at about $8.01 in November 2020, the USAU stock ran to a recent high of approximately $16.43 – good for a return of roughly 105%.

Since then, the stock dipped to nearly $10.75 a share, where it seems to have caught strong support. With inflationary risks ahead, and the potential for more stimulus, the USAU stock could have legitimate potential. In addition, the USAU stock also appears to be oversold based on its relative strength (RSI), MACD, and on Williams’ %R.

Also, its short-, medium-, and long-term indicators seem to be positive, such as its 20-day MA, 20-50 day MACD oscillator, 20-100 day MACD oscillator, 20-200 day MACD oscillator, 50-day MA, 50-100 day MACD oscillator, 50-150 day MACD oscillator, 50-200 day MACD oscillator, 100-day MA, 150-day MA, 200-day MA, and its 100-200 day MACD oscillator.

In addition, US Gold is one of a few exploration and development companies listed on the NASDAQ. It also has a tight share structure, with just around six million shares of common stock outstanding with no long-term debt and solid cash balance.

US Gold’s (NASDAQ:USAU) Multiple Gold Mines Could Set it Up For Success

US Gold Corp. (NASDAQ:USAU) is a US focused gold exploration and development company. USAU appears to be advancing 4 projects: The CK Gold Project located in Southeast Wyoming, Keystone – located on the Cortez Trend in North Central Nevada, Maggie Creek on the Carlin Trend in Nevada, and the Challis Gold Project located in Idaho.

What’s so exciting about these projects?

For one, its CK Gold Project appears to be targeting near-term production in Wyoming.(6)

According to President and CEO George Bee:(8)

“Our CK Gold Project, located just outside of Cheyenne, Wyoming, is currently our flagship asset. All of us believe that the CK Gold Project alone is potentially worth more than our current market capitalization. The project has a Preliminary Economic Assessment (PEA) report authored by Mine Development Associates (MDA), first published in 2009 and updated on December 5, 2017, showing an approximately $178.5 million net present value (NPV) at a nearly 5% discount at about $1,270 gold and approximately $2.80 copper prices.”

“The projected internal rate of return (IRR) on the project is a robust annualized 33.1%. In March 2020, the Company internally updated the economics of the CK Gold Project deposit using the sensitivity tables in the PEA and reflecting more relevant metal prices ($1,600 gold and $2.80 copper). At these input price levels the deposit shows an NPV at an estimated 5% discount rate of approximately $322.1 million and a projected IRR of roughly 52%. While the study needs a complete update factoring in both inflation and the advances we have made on the project, we believe that they are impressive numbers and illustrate to our shareholders the leverage this type of development project can provide due to the potential continued upside in metals prices.”(8)

US Gold (NASDAQ:USAU) Also Exploring a Major Gold District on the Cortez Trend

Nevada is considered to be the 5th largest gold producing “country” in the world.(9)

In 2017 alone, Nevada claims to have seen roughly 5.6 million oz. of gold produced. This accounts for about 75% of U.S. gold production.(10)

Historically, the region has also produced approximately 225 million oz. of gold.(10)

Because this appears to be a pro-mining environment with geopolitical stability, and major infrastructure, it could mean great things for US Gold.

US Gold is currently exploring for gold in the Keystone project which appears to be squarely located on the Cortez Gold Trend. It also seems to be approximately 10 miles south of Barrick’s Cortez Hills Mine Complex.(10)

Even more impressive, the trend appears to host numerous deposits:

  • Barrick’s Pipeline: ~21+ M oz gold
  • Barrick’s Cortez Hills: ~15+ M oz gold
  • Barrick’s Goldrush: ~10+ M oz gold

Senior Project Geologist, Ken Coleman further claims:(11)

“A tremendous amount of work has been done by U.S. Gold Corp. to advance the Keystone project to its current state. Keystone is a large, district scale project of 20 square miles and several areas of the project have never, to our knowledge, had any prior systematic, model driven exploration efforts. We are now at the point where we have specific potential discovery targets identified which is a culmination of the all the work done over the last 4 years which includes mapping, geophysics, geochemistry, permitting and significant scout hole drilling.”

US Gold (NASDAQ:USAU) Also Seems to be Exploring Maggie Creek and Challis Gold

US Gold (NASDAQ:USAU) also appears to be exploring Maggie Creek. Maggie Creek is a project located on the Carlin Trend- another one of the world’s most highly prospective mineral trends. Maggie Creek also appears to be nearly 10 miles northeast of Newmont Mining’s Gold Quarry Mine. Additionally, there could be nearly three square miles of unpatented mining claims on this potentially gold rich project (approximately 26 M oz Au).

As also noted by CEO George Bee:(8)

“We believe that Maggie Creek is a high-potential gold exploration opportunity. It is located on the Carlin Trend, close to Newmont’s Gold Quarry Mine and adjacent Newmont’s Rainbow deposit. Preliminary geological interpretations show major structures could extend onto the property. Our Chief Geologist Ken Coleman coordinated a district-wide gravity survey at Maggie Creek in 2020. This is the first time this has been done on all the Maggie Creek claims. More work is being done and future exploration programs are currently being designed. The project appears to have promising potential and we all believe that the Maggie Creek area has the potential for world-class gold discoveries.”

US Gold Corp.’s Challis Gold Project also seems to be located about 75 km southwest of Salmon, ID and 20 km southwest of Revival Gold’s Beartrack Project in the Tertiary Challis Volcanic Field. It is also located close to the Stibnite Au project, Bear Track Au project, Delamar Ag-Au mine, Coeur d’Alene Ag- Zn-Pb mines, Black Pine Au mine and Thompson Creek Mo mine.(14) Reportedly, it also holds significant upside exploration potential.

US Gold Corp. (NASDAQ:USAU) is Led by an Experienced Team with a History of Success

When evaluating a company’s potential, it’s important to examine the quality of the company’s management. US Gold Corp certainly appears to have a strong, experienced, and high-quality team running the company.

George Bee
PRESIDENT, CEO AND DIRECTOR

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.

Eric Alexander
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.

Ken Coleman
CHIEF GEOLOGIST

Ken Coleman is a geologist with extensive experience in Nevada. Ken joined U.S. Gold Corp. from Barrick Gold Corporation where he was a mine geologist at the Goldstrike Mine. Prior to Barrick, Ken was a consulting, mine and project geologist for Battle Mountain Gold, Comstock Mining and Victoria Gold. Ken brings deep exploration and geological experience to the U.S. Gold Corp. team. He has been a member of the Geological Society of Nevada since 2005.

The Top 12 Reasons to Consider US Gold Corp. (NASDAQ:USAU)

  1. Gold continues to appear to be a robust and safe-haven trade and last traded at approximately $1,825.(4)
  2. Gold seems to have pulled back from a 52-week high of around $2,089.20/oz. However, many analysts believe gold could be setting up to rally again thanks to stimulus and inflationary risks.
  3. Since 2018, prices have seemingly remained consistently above their 200-day moving average. Whenever prices did dip under that average, it only appears to have been temporary.
  4. Gold could be one of the “most undervalued” assets according to Elliott Management’s Paul Singer.(5)
  5. Analysts at Citi have a price target of roughly $2,500, and compare today’s catalysts to those of gold’s rally between 1970 and 1980. Not only could we see a weaker dollar, but inflationary risks, falling real yields, and the potential for further market volatility.(2)
  6. Gold exploration companies, like US Gold (NASDAQ:USAU) could be in a solid position to capitalize on gold’s potential.
  7. US Gold (NASDAQ:USAU) appears to have a promising portfolio in stable and mining friendly US jurisdictions. The portfolio could offer people both potential near-term production and sizable blue-sky exploration.(6)
  8. Its CK Gold Project offers potential exposure to compelling value and potential near-term production in mining-friendly Wyoming.(6)
  9. Its Keystone and Maggie Creek mines offer potential exposure to significant exploration upside – entire districts on Nevada’s prolific Carlin and Cortez Trends.(6)
  10. H.C. Wainwright appears to be bullish on the stock with a price target of approximately $17.50.(7)
  11. US Gold could have an exciting combination of later stage development assets and multiple potential exploration sites.
  12. US Gold has top-quality management and advisory teams with pedigrees of developing renowned gold projects.(6)

Source 1: https://www.kitco.com/news/2021-02-08/CIBC-trims-gold-price-forecast-but-remains-bullish-with-2-100-average.html
Source 2: https://www.cnbc.com/2020/11/24/gold-to-2500-two-etf-analysts-on-citis-bullish-call-for-2021.html
Source 3: https://www.usfunds.com/in-the-news/frank-holmes-calls-4-000-gold/
Source 4: https://goldprice.org
Source 5: https://markets.businessinsider.com/commodities/news/gold-price-undervalued-coronavirus-hedge-funds-elliott-management-2020-5-1029166586
Source 6: https://d1io3yog0oux5.cloudfront.net/_9f58bacfe0fb77b5be9f9417be15b9b8/usgoldcorp/db/280/795/pdf/USAU+Corporate+Presentation+Feb+2021.pdf
Source 7: https://www.smarteranalyst.com/new-blurbs/h-c-wainwright-sticks-to-their-buy-rating-for-us-gold-usau-3/
Source 8: https://www.usgoldcorp.gold/news-media/press-releases/detail/115/u-s-gold-corp-issues-ceo-update-on-project-advancements
Source 9: https://www.reviewjournal.com/business/2-new-major-finds-may-extend-nevadas-gold-boom-for-years-1972010/
Source 10: https://d1io3yog0oux5.cloudfront.net/_9f58bacfe0fb77b5be9f9417be15b9b8/usgoldcorp/db/280/795/pdf/USAU+Corporate+Presentation+Feb+2021.pdf
Source 11: https://ir.usgoldcorp.gold/press-releases/detail/95

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