U.S. Gold Corp. shareholders approve board and executive pay

In a recent shareholder meeting, U.S. Gold Corp. (NASDAQ:USAU) received approval for all proposed items, including the election of directors and executive compensation. The company, which has seen its stock surge 140% over the past year and maintains a strong balance sheet with more cash than debt, continues to attract investor attention. According to InvestingPro, the company offers 12 additional investment insights that could help investors make informed decisions. The meeting, which took place on Monday, saw the re-election of five board members and the ratification of the company’s independent auditor for the fiscal year ending April 30, 2025.

Shareholders voted in favor of Luke Norman, George Bee, Johanna Fipke, Robert W. Schafer, and Michael Waldkirch to continue serving on the board until the next annual meeting. The vote count for each director showed a significant majority in favor, with the least number of votes withheld for George Bee.

Additionally, the appointment of Marcum LLP as the independent registered public accounting firm was ratified with over 7 million votes in favor, against a small fraction of dissenting votes.

The compensation of the company’s named executive officers also passed with a majority vote. A further non-binding advisory vote determined that future votes on executive compensation would occur every three years, following the board’s recommendation. This decision is set to stand until the next vote on the matter, expected at the 2031 annual meeting.

The approval of these items reflects shareholder confidence in the management and strategic direction of U.S. Gold Corp., a Nevada-incorporated metal mining company. While the company maintains strong liquidity with a current ratio of 12.52, analysts have set price targets ranging from $10 to $23.50, suggesting potential upside. For deeper insights into the company’s valuation and financial health metrics, InvestingPro subscribers can access comprehensive analysis and exclusive financial indicators. The results from the meeting are based on a press release statement and indicate a continuation of the current leadership and financial oversight for the upcoming year.

In other recent news, U.S. Gold Corp. announced the completion of an updated pre-feasibility study for its CK Gold Project in Wyoming. This study, conducted by Samuel Engineering, Inc., outlines the technical and economic viability of the project and marks a significant milestone for the company. The report’s findings are crucial as U.S. Gold Corp. moves closer to potentially mining gold and other minerals at the site. Following this announcement, H.C. Wainwright analyst Heiko Ihle raised the price target on U.S. Gold Corp. to $14.00, up from $13.00, while maintaining a Buy rating. The updated study projects the CK Gold Project will produce approximately 1.11 million gold equivalent ounces across its mine life, with higher production expected in the initial three years. The project’s life of mine production is estimated at 679,548 ounces of gold, 208.3 million pounds of copper, and 2.04 million ounces of silver. These figures are supported by the site’s Mineral Reserves, which amount to 1.67 million gold equivalent ounces. The increased price target reflects confidence in U.S. Gold Corp.’s potential to capitalize on the project’s robust reserve figures and optimistic production estimates.

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