U.S. GOLD CORP.
USAU · Metal Mining · 16.5M shares · +14%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: -$549K (gross $45K, SBC $594K)
Reference price $15.30 · est. market cap ~$252M — last insider purchase, 2026-04-13 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
F38Pre-revenue gold exploration micro-cap with explicit going-concern doubt and deep operating losses.
Strengths
- High current ratio 10.1 (88th pct) on minimal debt
- CK Gold Project permitted with a published prefeasibility study
Risks
- Going-concern doubt; $93.4M accumulated deficit and $20.6M net loss with no revenue
- ROE -177% (7th pct), ROA -83%; ~$8M cash against heavy burn requires further dilutive financing
Notable findings
- Going concernThere is substantial doubt about whether we can continue as a going concern
- Cash burnNegative free cash flow (-9.9M)
- Chronic dilutionShare count +14%/yr over 2y (dilution, book value/share -52%)
- Insider buyingInsider buying — 3 open-market buy(s) by 3 insider(s) (cluster of 3 insiders, ~$158,266, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
-177.4%
Return on assets
-82.7%
Revenue growth (QoQ)
23.6%
Current ratio
10.1×
Free cash flow
-$10M
Tangible book value
$12M
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-22 | FIPKE JOHANNA | Grant | 2.8K | — |
| 2026-04-13 | Francis Kevin A. | Buy | 100 | $15.30 |
| 2026-04-10 | FIPKE JOHANNA | Buy | 700 | $14.91 |
| 2026-04-08 | NORMAN LUKE ANTHONY | Buy | 10K | $14.63 |
| 2026-01-21 | FIPKE JOHANNA | Grant | 7.7K | — |
| 2026-01-21 | NORMAN LUKE ANTHONY | Grant | 9.6K | — |
| 2026-01-21 | Waldkirch Michael N | Grant | 7.7K | — |
| 2026-01-21 | Schafer Robert W | Grant | 7.7K | — |
| 2026-01-21 | Francis Kevin A. | Grant | 6.8K | — |
| 2026-01-21 | Alexander Eric | Grant | 8.6K | — |
| 2026-01-21 | Bee George M | Grant | 13K | — |
| 2025-08-09 | NORMAN LUKE ANTHONY | Option exercise | 100K | $6.00 |
| 2025-08-09 | NORMAN LUKE ANTHONY | Sell | 50K | $12.02 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-22 | 2026-05-22 | 0001493152-26-025009 ↗ |
| 8-K | 2026-05-15 | 2026-05-13 | 0001493152-26-023905 ↗ |
| 8-K | 2026-04-27 | 2026-04-27 | 0001493152-26-019166 ↗ |
| 8-K | 2026-04-03 | 2026-03-31 | 0001493152-26-015086 ↗ |
| 10-Q | 2026-03-16 | 2026-01-31 | 0001493152-26-010290 ↗ |
| 8-K | 2025-12-23 | 2025-12-23 | 0001493152-25-029009 ↗ |
| 10-Q | 2025-12-10 | 2025-10-31 | 0001493152-25-027102 ↗ |
| 10-Q/A | 2025-10-10 | 2025-07-31 | 0001493152-25-017775 ↗ |
| 8-K | 2025-10-10 | 2025-10-10 | 0001493152-25-017776 ↗ |
| 10-K/A | 2025-10-10 | 2025-04-30 | 0001493152-25-017772 ↗ |
| 8-K | 2025-09-16 | 2025-09-12 | 0001493152-25-013705 ↗ |
| 10-Q | 2025-09-15 | 2025-07-31 | 0001493152-25-013494 ↗ |