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USGO

U.S. GoldMining Inc.

USGO

U.S. GoldMining Inc. • NASDAQ
$9.87 ▲ 1.86% (+0.18)
Market Cap $130.93 M
52w High $14.93
52w Low $7.26
Dividend Yield 0%
P/E -18.62
Volume 34.56K
Outstanding Shares 13.27M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $2.795M ▲ $-2.815M ▼ 0% $-0.22 ▼ $-2.73M ▼
Q3-2025 $0 $1.888M ▲ $0 ▲ 0% $0 ▲ $-22K ▲
Q2-2025 $0 $891.448K ▼ $-905.02K ▲ 0% $-0.072 ▲ $-891.448K ▲
Q1-2025 $0 ▼ $1.284M ▼ $-1.292M ▲ 0% ▲ $-0.1 ▲ $-1.284M ▲
Q4-2024 $189.304K $1.711M $-1.692M -893.631% $-0.14 $-1.711M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $3.29M ▼ $4.711M ▼ $860.809K ▲ $3.85M ▼
Q3-2025 $7.123M ▲ $123.015M ▲ $-53.9M ▼ $176.915M ▲
Q2-2025 $6.024M ▲ $4.402M ▲ $769.665K ▼ $3.633M ▲
Q1-2025 $2.959M ▼ $4.196M ▼ $869.861K ▲ $3.326M ▼
Q4-2024 $3.881M $5.149M $704.016K $4.445M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-103K $-2.904M ▼ $0 ▼ $2.973M ▼ $68.835K ▼ $-3.826M ▼
Q3-2025 $-103K ▲ $0 ▲ $1.844M ▲ $6.271M ▲ $376K ▲ $0 ▼
Q2-2025 $-6.215M ▼ $-870.836K ▲ $0 $1.089M ▲ $218.263K ▲ $921.337K ▲
Q1-2025 $-1.292M ▲ $-921.337K ▲ $0 $0 ▼ $-921.337K ▼ $-921.337K ▲
Q4-2024 $-1.692M $-1.112M $0 $589.622K $-522.562K $-1.112M

Five-Year Company Overview

Income Statement

Income Statement USGO is still in the exploration and development stage, so it has no operating revenue yet. The income statement mainly shows steady, modest losses tied to corporate overhead, exploration work, and being a public company. Earnings per share are negative, reflecting those costs being spread over a relatively small base. There is no sign of operating leverage or profitability yet because the core asset is not producing and remains in the study and drilling phase. In short, this is a pre-revenue story where financial performance is currently about managing expenses rather than generating income.

Balance Sheet

Balance Sheet The balance sheet is very simple and typical of an early-stage mining explorer. Assets are mostly cash and some project-related value; there is essentially no financial debt reported, which reduces balance-sheet risk but also underscores reliance on equity funding and possibly future partnerships. Equity reflects capital raised to date rather than retained profits, since the company is loss-making. The small scale of the balance sheet means that any new financing, joint venture, or major spending program could materially change its profile over a short period.

Cash Flow

Cash Flow Cash flows show a company that is spending modestly on operations and project work while not yet generating any cash from production. Operating cash flow is negative, driven by exploration, corporate, and administrative costs. Capital spending so far appears limited, suggesting the project is still in technical study, permitting, and targeted drilling rather than heavy construction. Free cash flow is negative and likely to remain so for a long time, and the business model depends on raising capital when needed to move the Whistler project forward.

Competitive Edge

Competitive Edge USGO’s competitive position is built almost entirely around the Whistler Gold-Copper Project in Alaska. The project is large, multi-metal, and located in a mining-friendly jurisdiction with potential access to improving infrastructure, including a proposed road that could materially reduce logistics costs. The combination of gold, copper, and silver ties the asset to both precious metals and critical mineral themes. Against this, USGO is a small, single-asset explorer competing with many other juniors for capital and attention, and it lacks the diversification and operating history of larger mining companies. Its edge rests on the size and quality of the resource, the jurisdiction, and the expertise of its management team rather than on scale or production track record.

Innovation and R&D

Innovation and R&D The company’s “R&D” is essentially its geological work and metallurgical innovation. Recent test work suggests meaningfully better metal recoveries using a combination of flotation and sequential leaching, which, if confirmed at scale, could improve the project’s potential economics. USGO also leans on modern exploration tools—3D geological modeling, geophysical inversion, and systematic geochemical sampling—to refine drill targeting across a large land package. Ongoing economic studies, particularly the preliminary economic assessment, will be crucial to translating technical innovation into a clearer picture of project viability and value.

Summary

USGO is an early-stage, single-asset mining explorer with no revenue yet and a narrow financial base, using cash to advance a large gold-copper-silver project in Alaska. The financials show controlled but persistent losses, no debt, and reliance on external funding, which is typical for this stage. The core investment case revolves around the Whistler project’s scale, location, metallurgical improvements, and exploration upside, balanced against high execution risk, permitting and infrastructure uncertainty, and sensitivity to metal prices. Future technical milestones—especially economic studies, drilling results, and infrastructure developments—will likely matter far more than near-term financial statements in shaping the company’s prospects.

NEWS

November 13, 2025 · 7:00 AM UTC

U.S. GoldMining Welcomes Inclusion of Copper & Silver to U.S. Critical Minerals List, Highlights Whistler Gold-Copper Project in Alaska

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November 12, 2025 · 7:00 AM UTC

GoldMining Expands Portfolio of Active Exploration Assets in Brazil, New 'Colíder' Exploration Concession Granted in Mato Grosso State

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October 30, 2025 · 7:00 AM UTC

U.S. GoldMining Inc. Announces Participation in Red Cloud's 2025 Fall Mining Showcase in Toronto

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October 13, 2025 · 7:00 AM UTC

U.S. GoldMining Completes 2025 Exploration Program at the Whistler Gold-Copper Project, Alaska

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September 29, 2025 · 7:00 AM UTC

U.S. GoldMining Hosts Congressman Nick Begich at Whistler Gold-Copper Project, Alaska

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