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CHEYENNE, Wyo. - U.S. Gold Corp. (NASDAQ:USAU), whose stock has surged over 114% year-to-date and maintains a market capitalization of $183 million, announced Wednesday that its subsidiary Gold King Corp. has executed a contract with Cheyenne Light, Fuel and Power (CLFP) for power supply to its CK Gold Project in southeast Wyoming. According to InvestingPro data, analysts have set price targets ranging from $15 to $24 for the stock.
The agreement marks an initial step toward construction of a powerline to serve the mining project. CLFP, a subsidiary of Black Hills Corp., will begin pre-construction planning, engineering and procurement activities in preparation for potentially providing the 30 megawatts of power needed for the project.
Engineering and procurement activities will include substation design, development of arrangement drawings, project scheduling, budget planning, land rights acquisition, environmental permitting, and regulatory filings.
"CLFP has provided us with excellent engineering support and power solutions that will enhance the CK Gold Project," said Kevin Francis, Vice President of Exploration & Technical Services at U.S. Gold Corp.
U.S. Gold Corp. maintains a portfolio of exploration properties including the CK Gold Project in Wyoming, which has completed a Preliminary Feasibility Study, as well as the Keystone property in Nevada and the Challis Gold Project in Idaho.
The information in this article is based on a company press release statement.
In other recent news, U.S. Gold Corp. has reported its fiscal year-end 2025 financial results, which Roth/MKM described as "uneventful." Following this, Roth/MKM raised its price target for the company to $19 from $18 while maintaining a Buy rating on the stock. Additionally, U.S. Gold Corp. is set to join the Russell 3000 and Russell 2000 indexes. This inclusion will take effect after the U.S. market opens on June 30, 2025, as part of the annual reconstitution by FTSE Russell. The Russell 3000 Index includes the 3,000 largest U.S. public companies by market capitalization, and the Russell 2000 focuses on small-cap companies. This development ensures U.S. Gold Corp.’s automatic inclusion in corresponding growth and value style indexes. These recent developments reflect ongoing changes and adjustments surrounding U.S. Gold Corp.
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