Executive Summary
US Gold Corp reported a cash burn quarter in QQ1 2026 with no revenue disclosed for the period, flagging ongoing development and exploration spend rather than production. The quarter shows a net loss of $2,077,499 and an EBITDA of $(3,638,077), driven by high general and administrative costs and other operating expenses, while a modest positive contribution from other income partially offset operating losses. Importantly, financing activity provided $6.496 million, yielding a net increase in cash to $11.349 million at period end, underscoring the company’s reliance on external funding to support exploration activities rather than cash generated from operations.
Balance sheet health remains solid on a liquidity standpoint, with total assets of $28.334 million and a cash position of $11.349 million against a small short- and long-term debt burden ($97,631 total debt; net debt reported as negative $11.252 million, i.e., net cash). Retained earnings sit at approximately $(95.485) million, reflecting cumulative losses from prior periods. Stockholders’ equity stands at $26.527 million, and share count is 13.867 million fully diluted, which implies a need for future dilution risk if further financings occur. The company’s strategic focus remains the CK Gold project and other US-based assets, with the near-term catalyst pipeline anchored in project advancement, feasibility milestones, and potential partnerships or earn-ins that could unlock value absent current production. Investors should monitor progress on CK Gold, capital needs for later-stage development, and the sensitivity of economics to gold prices and permitting timelines.
Key Performance Indicators
QoQ: 28.53% | YoY:-182.74%
Key Insights
Revenue: Not disclosed for QQ1 2026 (null). Gross Profit: $(31,748.00); Gross Margin: N/A. Operating Income: $(3,638,077.00); YoY: -182.74%; QoQ: +28.53%. Net Income: $(2,077,499.00); YoY: -0.91%; QoQ: +67.35%. EPS: $(0.15); YoY: +31.82%; QoQ: +72.22%. EBITDA: $(3,638,077.00). Cash flow from operations: $(3,315,172.00). Free cash flow: $(3,315,172.00). Cash at end of period: $11,349,811. Total assets: $28,333,997. Total liabilities: $1,806,551. Total stockholders’ equity: $26,527,446. Net debt...
Financial Highlights
Revenue: Not disclosed for QQ1 2026 (null). Gross Profit: $(31,748.00); Gross Margin: N/A. Operating Income: $(3,638,077.00); YoY: -182.74%; QoQ: +28.53%. Net Income: $(2,077,499.00); YoY: -0.91%; QoQ: +67.35%. EPS: $(0.15); YoY: +31.82%; QoQ: +72.22%. EBITDA: $(3,638,077.00). Cash flow from operations: $(3,315,172.00). Free cash flow: $(3,315,172.00). Cash at end of period: $11,349,811. Total assets: $28,333,997. Total liabilities: $1,806,551. Total stockholders’ equity: $26,527,446. Net debt: $(11,252,180) (net cash). Retained earnings: $(95,484,722). Weighted average shares outstanding: 13,866,388.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Gross Profit |
-31.75K |
-121.85% |
N/A |
| Operating Income |
-3.64M |
-182.74% |
28.53% |
| Net Income |
-2.08M |
-0.91% |
67.35% |
| EPS |
-0.15 |
31.82% |
72.22% |
Management Commentary
Note: The earnings transcript was not provided in the data set. Consequently, direct management quotes could not be extracted. A thematic synthesis based on the QQ1 2026 release and the quarterly financials suggests emphasis on advancing the CK Gold project, disciplined cost management in an exploration-heavy phase, and sustaining liquidity through financing arrangements. Key themes investors typically monitor in this context include progress toward development milestones, capital expenditures required to move CK Gold into feasibility/development, and the company’s ability to secure additional funding while maintaining a viable cash runway.
Forward Guidance
No formal numerical guidance was issued for QQ1 2026 in the provided materials. Given US Gold Corp’s stage as an exploration and development company, the near-term outlook hinges on progress at CK Gold, updates to resource estimates, and the ability to secure financing for capex and development activities. Investors should monitor: (1) CK Gold drill delineation results and updated resource estimates; (2) capital plan and anticipated cash burn as the company transitions toward feasibility; (3) permitting timelines and potential partnerships or earn-ins; (4) commodity price trajectories and their impact on project economics. If management communicates a clear development or financing milestone within the next two quarters, the achievability will depend on capital markets access and project economics under prevailing gold prices.