US Gold Corp (USAU): Funding Round, Analyst Upgrade, and Exploration Momentum

Group 1 - US Gold Corp (NASDAQ:USAU) closed a private placement on December 23, raising approximately $31.2 million by selling 1,922,159 shares at $16.25 each, along with warrants for 961,077 shares at an exercise price of $23.00 [1][3] - The pricing of the private placement was at a 4% discount to the stock's closing price of $16.91 on December 15, but offered a 1.4% premium over the 30-day average price of $16.03 [2] - New investors in this funding round included notable firms such as Franklin Templeton Investments, Mackenzie Investments, and Libra Advisors, indicating strong support for the company's plans [3] Group 2 - Analyst Joseph Reagor from Roth MKM maintained a Buy rating on US Gold Corp and raised the price target from $20 to $26, citing optimism about the company's progress on the CK Gold Project in Wyoming [4] - The company plans to utilize the net funds primarily for the development of its flagship CK Gold Project, as well as for land acquisition, exploration expansion, and working capital needs [3][4] - US Gold Corp's portfolio includes the CK Gold Project in Wyoming, the Keystone exploration property in Nevada, and the Challis Gold Project in Idaho [5]