HC Wainwright & Co. Maintains Buy on US Goldmining, Raises Price Target to $23.5
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 05 2024
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Should l Buy USGO?
Source: Benzinga
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Analyst Views on USGO
About USGO
U.S. GoldMining Inc. is a Canada-based exploration and development company. The Company is focused on advancing the 100% owned Whistler Gold-Copper Project, located 105 miles (170 kilometers) northwest of Anchorage, Alaska, the United States of America. The Whistler Project consists of several gold-copper porphyry deposits and exploration targets within a large regional land package entirely on State of Alaska mining claims totaling approximately 53,700 acres (217.5 square kilometers). The Whistler Project has indicated resources of over 6.5 million gold equivalent ounces and inferred resources of 4.2 million gold equivalent ounces. Mineral resources have been estimated at three gold-copper porphyry deposits (Whistler, Raintree West and Island Mountain) and several additional geophysical and geochemical targets anomalies contain mineralized drill intersections that require follow-up drilling.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
U.S. GoldMining Releases Economic Assessment for Whistler Project
- Economic Potential: The preliminary economic assessment for the Whistler Gold-Copper Project indicates a robust economic foundation with an after-tax net present value (NPV5%) of $2.04 billion and an internal rate of return (IRR) of 33%, based on a gold price of $3,200/oz, with a payback period of 2.1 years.
- Metal Production Outlook: The project anticipates an average annual production of 345,000 ounces of gold equivalent during the first three years, totaling 3.6 million ounces over its life, primarily consisting of 2.6 million ounces of gold, 6.9 million ounces of silver, and 592 million pounds of copper, showcasing its long-term profitability.
- Capital Expenditure and Costs: Initial capital expenditures are projected at $1.28 billion, with an all-in sustaining cost (AISC) of $1,046 per ounce, indicating that the project's economic viability will significantly improve under current metal prices, attracting investor interest.
- Infrastructure Development: The project plans to expedite the development of the West Susitna Access Road to connect with existing transportation and energy infrastructure, which is expected to provide crucial support for the Whistler project and surrounding resource development, thereby boosting economic growth in Alaska.
See More
U.S. GOLDMINING INC.: H.C. WAINWRIGHT INCREASES TARGET PRICE TO $30.75, UP FROM $26.5
Company Overview: U.S. Gold Mining Inc. is a company involved in the gold mining sector.
Stock Price Increase: The target price for H.C. Wainwright has been raised to $30.75 from a previous $26.50.
See More
U.S. GoldMining Shares Surge 20.1% on Positive Economic Assessment
- Economic Assessment Results: U.S. GoldMining announced a preliminary economic assessment for its Whistler gold-copper project in Alaska, revealing a $2.04 billion after-tax net present value and a 33% internal rate of return with an initial payback period of just 2.1 years, indicating strong profitability potential.
- Annual Production Forecast: The assessment estimates an average annual output of 345,000 gold equivalent ounces during the first three years of operation, with total life-of-mine production projected at 3.6 million gold equivalent ounces, including 2.6 million ounces of gold, 6.9 million ounces of silver, and 592 million pounds of copper, showcasing the project's long-term value.
- Cost Analysis: Estimated all-in sustaining costs are $1,046 per ounce, with initial capital costs of $1.28 billion, a cost structure that will help maintain competitiveness amid market fluctuations and ensure investment returns.
- Resource Potential: CEO Tim Smith emphasized that the assessment is based on indicated mineral resources at the Whistler Deposit, and the high-grade core will drive strong initial production, with a low strip ratio further shortening the after-tax payback period, enhancing the project's attractiveness.
See More
U.S. GoldMining Announces Positive Initial Economic Assessment for Whistler Project
- Economic Assessment Released: U.S. GoldMining Inc. announced the results of its initial economic assessment (PEA) for the 100% owned Whistler Gold-Copper Project, indicating significant economic potential and further validating GoldMining's confidence in the asset.
- Shareholder Interest: GoldMining holds over a 74% indirect interest in U.S. GoldMining, highlighting its substantial stake in the successful development of the project, which could yield considerable returns for shareholders.
- Project Location: The Whistler Project is strategically located 105 miles northwest of Anchorage, Alaska, providing a favorable geographic position with strong resource development potential, likely attracting increased investor interest.
- Future Outlook: GoldMining CEO Alastair Still emphasized that the development of the Whistler Project is part of the company's IPO strategy initiated three years ago, with plans to continue advancing exploration activities to realize the project's full potential.
See More
U.S. GoldMining Releases Economic Assessment for Whistler Project
- Economic Potential: The preliminary economic assessment (PEA) for the Whistler Gold-Copper Project indicates a net present value (NPV) of $2.038 billion based on a gold price of $3,200 per ounce and an internal rate of return (IRR) of 33%, showcasing a robust economic foundation that could attract investment and drive future development.
- Production Capacity: The PEA forecasts a mine life of 14.6 years with an average annual gold production of 263.6koz and copper production of 53.0Mlbs, indicating that the project will achieve high output in its initial years, enhancing the company's competitiveness in the resource market.
- Infrastructure Development Needs: The successful implementation of the project relies on the expedited construction of the West Susitna Access Road, which will connect the Whistler project with existing transportation and energy infrastructure in the Anchorage region, expected to significantly reduce operational costs and improve project feasibility.
- Future Exploration Potential: With record-high prices for gold, copper, and silver, the project's economics improve significantly under current market conditions, and further exploration efforts are anticipated to uncover new resources, enhancing the project's long-term value and growth potential.
See More
GoldMining Reports Progress on 2025 Drilling Program
- Significant Drilling Results: GoldMining's 2025 drilling program at the São Jorge project in Brazil's Tapajós gold district totaled 9,533 meters, exceeding the planned 9,000 meters, indicating potential mineralization extending deeper, suggesting future resource growth opportunities.
- Mineralization Extension Potential: Drilling results indicate that the mineralization depth of the São Jorge gold deposit may extend, particularly to the northwest, and further systematic drilling will help confirm this potential, enhancing the project's economic viability.
- William South Prospect: Soil geochemical analysis in the William South target area revealed gold concentrations as high as 2,163 ppb Au, with 2025 drilling results showing an impressive 12 meters at 2.38 g/t Au, indicating significant exploration value in this area.
- Infrastructure Advantage: The excellent infrastructure at the project facilitates smooth exploration activities, and GoldMining anticipates achieving significant growth in the rapidly developing Tapajós gold district through ongoing exploration efforts.
See More
U.S. GoldMining Releases Economic Assessment for Whistler Project
- Economic Potential: The preliminary economic assessment for the Whistler Gold-Copper Project indicates a robust economic foundation with an after-tax net present value (NPV5%) of $2.04 billion and an internal rate of return (IRR) of 33%, based on a gold price of $3,200/oz, with a payback period of 2.1 years.
- Metal Production Outlook: The project anticipates an average annual production of 345,000 ounces of gold equivalent during the first three years, totaling 3.6 million ounces over its life, primarily consisting of 2.6 million ounces of gold, 6.9 million ounces of silver, and 592 million pounds of copper, showcasing its long-term profitability.
- Capital Expenditure and Costs: Initial capital expenditures are projected at $1.28 billion, with an all-in sustaining cost (AISC) of $1,046 per ounce, indicating that the project's economic viability will significantly improve under current metal prices, attracting investor interest.
- Infrastructure Development: The project plans to expedite the development of the West Susitna Access Road to connect with existing transportation and energy infrastructure, which is expected to provide crucial support for the Whistler project and surrounding resource development, thereby boosting economic growth in Alaska.
See More
U.S. GOLDMINING INC.: H.C. WAINWRIGHT INCREASES TARGET PRICE TO $30.75, UP FROM $26.5
Company Overview: U.S. Gold Mining Inc. is a company involved in the gold mining sector.
Stock Price Increase: The target price for H.C. Wainwright has been raised to $30.75 from a previous $26.50.
See More
U.S. GoldMining Shares Surge 20.1% on Positive Economic Assessment
- Economic Assessment Results: U.S. GoldMining announced a preliminary economic assessment for its Whistler gold-copper project in Alaska, revealing a $2.04 billion after-tax net present value and a 33% internal rate of return with an initial payback period of just 2.1 years, indicating strong profitability potential.
- Annual Production Forecast: The assessment estimates an average annual output of 345,000 gold equivalent ounces during the first three years of operation, with total life-of-mine production projected at 3.6 million gold equivalent ounces, including 2.6 million ounces of gold, 6.9 million ounces of silver, and 592 million pounds of copper, showcasing the project's long-term value.
- Cost Analysis: Estimated all-in sustaining costs are $1,046 per ounce, with initial capital costs of $1.28 billion, a cost structure that will help maintain competitiveness amid market fluctuations and ensure investment returns.
- Resource Potential: CEO Tim Smith emphasized that the assessment is based on indicated mineral resources at the Whistler Deposit, and the high-grade core will drive strong initial production, with a low strip ratio further shortening the after-tax payback period, enhancing the project's attractiveness.
See More
U.S. GoldMining Announces Positive Initial Economic Assessment for Whistler Project
- Economic Assessment Released: U.S. GoldMining Inc. announced the results of its initial economic assessment (PEA) for the 100% owned Whistler Gold-Copper Project, indicating significant economic potential and further validating GoldMining's confidence in the asset.
- Shareholder Interest: GoldMining holds over a 74% indirect interest in U.S. GoldMining, highlighting its substantial stake in the successful development of the project, which could yield considerable returns for shareholders.
- Project Location: The Whistler Project is strategically located 105 miles northwest of Anchorage, Alaska, providing a favorable geographic position with strong resource development potential, likely attracting increased investor interest.
- Future Outlook: GoldMining CEO Alastair Still emphasized that the development of the Whistler Project is part of the company's IPO strategy initiated three years ago, with plans to continue advancing exploration activities to realize the project's full potential.
See More
U.S. GoldMining Releases Economic Assessment for Whistler Project
- Economic Potential: The preliminary economic assessment (PEA) for the Whistler Gold-Copper Project indicates a net present value (NPV) of $2.038 billion based on a gold price of $3,200 per ounce and an internal rate of return (IRR) of 33%, showcasing a robust economic foundation that could attract investment and drive future development.
- Production Capacity: The PEA forecasts a mine life of 14.6 years with an average annual gold production of 263.6koz and copper production of 53.0Mlbs, indicating that the project will achieve high output in its initial years, enhancing the company's competitiveness in the resource market.
- Infrastructure Development Needs: The successful implementation of the project relies on the expedited construction of the West Susitna Access Road, which will connect the Whistler project with existing transportation and energy infrastructure in the Anchorage region, expected to significantly reduce operational costs and improve project feasibility.
- Future Exploration Potential: With record-high prices for gold, copper, and silver, the project's economics improve significantly under current market conditions, and further exploration efforts are anticipated to uncover new resources, enhancing the project's long-term value and growth potential.
See More
GoldMining Reports Progress on 2025 Drilling Program
- Significant Drilling Results: GoldMining's 2025 drilling program at the São Jorge project in Brazil's Tapajós gold district totaled 9,533 meters, exceeding the planned 9,000 meters, indicating potential mineralization extending deeper, suggesting future resource growth opportunities.
- Mineralization Extension Potential: Drilling results indicate that the mineralization depth of the São Jorge gold deposit may extend, particularly to the northwest, and further systematic drilling will help confirm this potential, enhancing the project's economic viability.
- William South Prospect: Soil geochemical analysis in the William South target area revealed gold concentrations as high as 2,163 ppb Au, with 2025 drilling results showing an impressive 12 meters at 2.38 g/t Au, indicating significant exploration value in this area.
- Infrastructure Advantage: The excellent infrastructure at the project facilitates smooth exploration activities, and GoldMining anticipates achieving significant growth in the rapidly developing Tapajós gold district through ongoing exploration efforts.
See More
