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ANCHORAGE - U.S. GoldMining Inc. (NASDAQ:USGO) announced Wednesday the appointment of Barry Olson as a Special Advisor to the company, effective September 1, 2025. The company’s stock, currently trading at $8.79, has shown remarkable strength with a 72% return over the past year, though InvestingPro analysis indicates the stock is slightly overvalued at current levels.
Olson brings over 30 years of experience in the mining industry, having previously served as Senior Vice President of Project Development at Goldcorp Inc. from 2006 to 2013. During his tenure at Goldcorp, he led the development of the Peñasquito mine in Mexico, one of the country’s largest open pit operations currently run by Newmont. InvestingPro subscribers can access 8 additional key insights about U.S. GoldMining’s financial health and growth prospects.
Currently, Olson serves on the Advisory Committee for Agnico Eagle Mines Ltd. and as a director of Discovery Silver. He previously held a director position at Kirkland Lake Gold Inc. until its $10.7 billion acquisition by Agnico Eagle, announced on September 28, 2021.
His experience includes managing engineering, construction, start-up, and operations phases of large-scale mining projects. Before joining Goldcorp, Olson held general manager roles at Coeur Mining Inc. (2001-2006) and Amax Gold Inc. (1988-1998).
U.S. GoldMining is advancing its wholly-owned Whistler Gold-Copper Project located 105 miles northwest of Anchorage, Alaska. The project encompasses approximately 53,700 acres on State of Alaska Mining claims and contains several gold-copper porphyry deposits. While the company maintains a strong liquidity position with a current ratio of 7.11 and operates with moderate debt levels, analysts project continued losses for the current fiscal year.
Alastair Still, Chair of the Board of Directors, stated that Olson’s experience in building and operating large-scale mines throughout the Americas would be valuable as the company prepares its first initial assessment study on the Whistler project.
According to a press release statement, the Whistler Project has a Mineral Resource Estimate comprising 294 million tonnes at 0.68 g/t gold equivalent for 6.48 million ounces in the Indicated category, plus 198 million tonnes at 0.65 g/t gold equivalent for 4.16 million ounces in the Inferred category. Get comprehensive analysis and real-time alerts on U.S. GoldMining and other mining stocks with an InvestingPro subscription.
In other recent news, U.S. GoldMining Inc. is advancing its plans for the West Susitna Access Project, which will connect its Whistler Gold-Copper Project to existing infrastructure in Alaska. The Alaska Industrial Development and Export Authority has submitted a permit application for a 78.5-mile road that aims to provide year-round access to the site. U.S. GoldMining is preparing to begin its 2025 exploration program at the Whistler Gold-Copper Project, focusing on new drill targets and follow-up mapping. The company has also disclosed unaudited interim financials from its parent company, GoldMining Inc., which were filed with the U.S. Securities and Exchange Commission. These financial statements are preliminary and not prepared for investment decision purposes. GoldMining Inc., which owns approximately 79% of U.S. GoldMining, is advancing its gold-copper strategy as copper prices surge. The company holds significant mineral resources in the Americas, with over 1.2 billion pounds of copper in the Measured and Indicated categories. The Whistler Gold-Copper Project itself contains over 1 billion pounds of copper in estimated Indicated resources.
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