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Investing.com -- US Gold Corp (NASDAQ:USAU) stock dropped 3.9% on Thursday after the company filed a prospectus for the potential resale of nearly 2.9 million shares by selling stockholders.
The gold, copper, and precious metals development company disclosed in its filing that selling stockholders may offer up to 2,883,238 shares of common stock. These shares include 1,922,159 shares issued in a private placement on December 23, 2025, and 961,079 shares issuable upon the exercise of warrants from the same transaction.
US Gold Corp will not receive any proceeds from the sale of these shares by the stockholders. However, the company would receive funds if the warrants are exercised for cash, which it plans to use for general corporate purposes.
The selling stockholders acquired the shares in a private placement at $16.25 per share, while the associated warrants have an exercise price of $23.00 per share and will expire two years after issuance.
US Gold Corp primarily focuses on exploration opportunities in Wyoming, Nevada, and Idaho. The company’s main project is the CK Gold Project in Wyoming, which contains proven and probable mineral reserves and is classified as a development stage property. The company’s other properties in Nevada and Idaho are still in the exploratory phase.
According to the filing, US Gold Corp does not currently have any revenue-producing activities. The last reported sale price of the company’s common stock on February 3, 2026, was $17.69 per share.
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