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ANCHORAGE - U.S. GoldMining Inc. (NASDAQ:USGO) reported Monday it is advancing its Whistler Gold-Copper Project in Alaska as copper prices have risen approximately 14% over the past month and 20% year-over-year. While the stock has seen recent volatility, declining 13% in the past week, InvestingPro analysis suggests the shares are currently trading below Fair Value.
The company is currently progressing an initial assessment study for the project, which contains estimated mineral resources of over 1 billion pounds of copper, 3.93 million ounces of gold, and nearly 19 million ounces of silver in the Indicated category. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 5.45, though analysts do not expect profitability this year.
Located 100 miles from Anchorage, the Whistler project is positioned on state land with proximity to existing infrastructure including highways, port facilities, and power grid. The company noted the project could benefit from planned infrastructure development, particularly the West Susitna Access Road.
"We believe that the existing gold-copper-silver deposits already delineated at the Project, combined with district-scale exploration potential and proximity to existing and planned future infrastructure in south-central Alaska, makes the Project stand out among other American gold-copper projects," said Tim Smith, Chief Executive Officer of U.S. GoldMining.
The company referenced recent U.S. federal initiatives to accelerate permitting processes for domestic mine development projects. It also noted the Trump administration’s proposed 50% tariff on foreign copper imports announced on July 8, which the company said sent copper prices to all-time highs.
The Whistler project includes multiple deposits with additional resources in the Inferred category of 0.3 billion pounds of copper, 3.31 million ounces of gold, and 11.5 million ounces of silver.
This information is based on a press release statement from the company. With analyst price targets suggesting significant upside potential and 12 additional exclusive insights available on InvestingPro, investors may want to closely monitor this developing story in the precious metals sector.
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