Partly because of this record surge you can see in the 5-year chart above, gold has been a heavily sought after item.
In turn, that could make gold exploration companies strongly targeted stocks in the short, medium, and long-terms.
Knowing this, I want to run a few potential driver indicators for USAU by you because they could end up helping to send this profile's shares vertical moving forward.
Your Top #1 Potential USAU Driver Indicator
According to Yahoo Finance, USAU his a minuscule float.
The website reports this profile to have only 5.09Mn shares in its float.
That is super small...
So why is that important? It's important on one crucial level. Volatility.
With so few shares available for trading, the slightest bit of positive company news can send shares heading vertical in no time at all.
Don't forget what I mentioned above. I previously brought USAU to your attention on two separate occasions only to watch it make explosives moves in the short-term afterward.
Could the next bit of big news be right around the corner for USAU that sends share prices vertical again?
Your Top #2 Potential USAU Driver Indicator
H.C. Wainwright analyst, Heiko Ihle, has provided U.S. Gold with an $17.50 price target.
From this past Thursday's close of $13.15, that gives USAU upside potential of approximately 32.2%!
Additionally, Ihle reiterated a "Buy" rating on the stock.
See the price target here.
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Your Top #3 Potential USAU Driver Indicator
Recently, the company released a major update on their CK Gold Project in Wyoming:
U.S. Gold Corp. Drills Continuous Mineralization and Attractive Gold Equivalent Grade of 1.126 g/t Over 177.5 Meters Within its CK Gold Project in Wyoming
- 177.5 meters (600 feet) of continuous gold, copper and silver mineralization with an average gold equivalent grade of 1.126 g/t
- 2020 drill program was a combination of core and reverse circulation drilling
- The twenty-nine hole drill program is designed to advance the CK Gold Project to the Pre-Feasibility Study level
- Drill holes were for metallurgical, geotechnical, hydrological and resource expansion purposes
ELKO, Nev., Dec. 16, 2020 /PRNewswire/ -- U.S. Gold Corp. (NASDAQ: USAU) (the "Company"), a gold exploration and development company, is pleased to announce the first results of the recent twenty-nine hole drilling program for its CK Gold Project, an advanced stage gold and copper exploration and development project located just outside of Cheyenne, Wyoming. The results of the program, which are 177.5 meters (600 feet) of continuous gold, copper and silver mineralization with an average gold equivalent grade of 1.126 g/t, demonstrate strong continuity of attractive gold and copper grades.
George Bee, President and CEO of U.S. Gold Corp. commented, "I'm very pleased with the data from this first hole as it not only validates the previous interpretation of the resource, it shows that there may be some better grade to further enhance the economics of the project. Furthermore, we have good values to chase at the bottom of the conceptual PEA pit resulting in exploration potential that will be our focus once we have cemented the project's value proposition in the Pre-Feasibility Study."
Comments on hole CK20-01c results:
- The hole shows continuous gold and copper grades for the length of the hole with an additional silver component previously not included in exploration results
- The hole terminated at its planned depth in mineralized material exceeding 2 g/t Au; implying very good resource expansion potential for attractive grades at depth to the northwest
- Overall average gold grade of 0.81 g/t (1.126 g/t AuEq); better than the average grades outlined in the PEA for the resource, last updated in 2009
Results from this first metallurgical core hole are encouraging, as they demonstrate the continuity of attractive gold and copper grades within the CK Gold Project deposit. Historical drilling in the vicinity of CK20-01c was recently tested by two core holes to collect metallurgical samples. As announced previously, CK20-01c was designed to obtain metallurgical samples in known mineralization, drilled parallel to strike of the mineralized zone. Pursuing additional mineralization at depth will be the subject of follow-up exploration drilling post Pre-Feasibility Study.
Read the full article here.
Your Top #4 Potential USAU Driver Indicator
In October, the company released a shareholder update that is a must-read. Here are a handful of highlights:
U.S. Gold Corp. Letter to Shareholders
"We are bullish on gold and believe this bull market will continue. We are seeing governments and central banks around the globe flooding the capital markets with both fiscal and monetary stimulus, and real interest rates are negative in many of the world’s currencies, leading us to believe that the landscape for gold will be favorable in the coming months and years. Over the course of the past year, we have accomplished several initiatives that we believe should create long-term value. These include:
- Our recent acquisition of Northern Panther Resource Corporation, which provided:
- The Challis Gold Project in Idaho
- Additional capital
- Key industry shareholders
- The strengthening of our management team with:
- Appointment of George Bee as President
- Appointment of Eric Alexander as Chief Financial Officer
- Commencement of the CK Gold Project Pre-Feasibility Study
- Continued advancement of our exploration portfolio
Although we are confident that U.S. Gold provides a promising opportunity, we are, nevertheless, mindful that there is risk involved, as there is for all junior exploration and development companies, and this is why we intend to advance in a conservative and methodical manner. We believe we are highly undervalued compared to our peer group with similarly defined resources and we believe there are many opportunities ahead to unlock significant value for our shareholders.
As of the writing of this letter, we have projects in three of the best mining-friendly states in the U.S. – Wyoming, Nevada and Idaho."
Read the full letter here.
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Your Top #5 Potential USAU Driver Indicator
USAU is displaying extremely strong, bullish technicals at this very moment.
According to Barchart's website, USAU has several triggered technicals in small, medium, and long-term.
Here are some of the more important, bullish technicals to take into consideration:
Short Term Indicators
- 20 Day Moving Average
- 20 - 50 Day MACD Oscillator
- 20 - 100 Day MACD Oscillator
- 20 - 200 Day MACD Oscillator
Medium Term Indicators
- 50 Day Moving Average
- 50 - 150 Day MACD Oscillator
- 50 - 200 Day MACD Oscillator
Long Term Indicators
- 100 Day Moving Average
- 150 Day Moving Average
- 200 Day Moving Average
- 100 - 200 Day MACD Oscillator
On top of these all being triggered as bullish, Barchart also reports the same for its overall, composite indicator "TrendSpotter."
The site shares an overall "88% BUY" recommendation on overall average for USAU.
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