U
U.S. GoldMining Inc.
USGOWCIK 0001947244NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthGold And Silver OresNevadaFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$-6.99M
Total Assets
$8.45M
Equity
$7.61M
Shares Out
13.32M
Op. Cash Flow
$-5.84M
Business
U.S. GoldMining Inc. is an exploration-stage company that conducts gold‑copper exploration at its sole Whistler Project in the Yentna Mining District of Alaska. It provides mineral exploration and development services, including core and diamond drilling, geological and environmental studies, permitting and reclamation planning, and community and sustainability programs. The business is organized around its single project and its subsidiary, US GoldMining Canada Inc., and it leverages an efficient in‑house team supported by third‑party contractors and consultants. Its operations and permitting activities are focused in Alaska and it engages local suppliers, native groups and governmental agencies for project execution.
Summary from filing dated 2025-03-27
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-11-30 | FY 2022 2022-11-30 |
|---|---|---|---|---|---|
| Exploration expenses | 3 | 6 | 5 | 543,322 | |
| General and administrative expenses | 4 | 3 | 5 | 1 | |
| Accretion | 20,057 | 18,205 | 21,051 | 19,255 | |
| Depreciation | 145,125 | 125,593 | 30,959 | — | |
| Total operating expenses | 7 | 9 | 10 | 2 | |
| Loss from operations | −7 | −9 | −10 | −2 | |
| Interest income | 146,103 | 401,591 | 426,919 | — | |
| Foreign exchange (loss) income | −15,252 | 9,365 | −1,801 | — | |
| Net loss for the year before tax | −7 | −8 | −9 | −2 | |
| Current income tax expense | −4,079 | −4,967 | −4,937 | — | |
| Net loss for the year | −7 | −8 | −9 | −2 | |
| Loss per share Basic | −0.55 | −0.68 | −0.82 | −0.17 | |
| Loss per share Diluted | −0.55 | −0.68 | −0.82 | −0.17 | |
| Weighted average shares outstanding Basic | 13 | 12 | 11 | 10 | |
| Weighted average shares outstanding Diluted | 13 | 12 | 11 | 10 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2023 2023-11-30 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 7 | 4 | 11 | 11 | — | |
| Restricted cash | 43,235 | 86,261 | 87,756 | 86,870 | — | |
| Other receivables | 56,024 | 7,419 | 152,716 | 115,113 | — | |
| Inventories | 28,644 | 34,858 | 27,249 | 27,249 | — | |
| Prepaid expenses | 79,639 | 108,943 | 297,207 | 375,933 | — | |
| Total current assets | 8 | 4 | 12 | 12 | — | |
| Exploration and evaluation assets | 31,392 | 31,392 | 31,392 | 31,392 | — | |
| Operating lease right-of-use assets, net | 86,224 | 111,444 | 133,956 | 135,728 | — | |
| Property and equipment, net | 742,962 | 888,087 | 841,844 | 850,130 | — | |
| Total assets | 8 | 5 | 13 | 13 | — | |
| Accounts payable | 223,821 | 185,251 | 118,610 | 197,978 | — | |
| Accrued liabilities | 123,914 | 28,983 | 149,812 | 112,048 | — | |
| Current portion of lease liabilities | 30,221 | 25,144 | 21,057 | 17,268 | — | |
| Other payables | 180,863 | 180,863 | 185,899 | 185,781 | — | |
| Total current liabilities | 558,819 | 420,241 | 475,378 | 513,075 | — | |
| Lease liabilities | 58,171 | 84,250 | 118,819 | 118,087 | — | |
| Asset retirement obligations | 219,582 | 199,525 | 181,320 | 179,880 | — | |
| Total liabilities | 836,572 | 704,016 | 775,517 | 811,042 | — | |
| Common stock $0.001 par value: 300,000,000 shares authorized as at December 31, 2025 and December 31, 2024; 13,308,985, 12,456,815 shares issued and outstanding as at December 31, 2025 and December 31, 2024 | 13,309 | 12,457 | 12,399 | 12,399 | — | |
| Additional paid-in capital | 38 | 28 | 27 | 27 | — | |
| Accumulated deficit | −30 | −23 | −15 | −14 | — | |
| Total stockholders equity | 8 | 4 | 12 | 12 | −1 | |
| Total liabilities and stockholders equity | 8 | 5 | 13 | 13 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-11-30 | FY 2022 2022-11-30 |
|---|---|---|---|---|---|
| Depreciation | 145,125 | 125,593 | 30,959 | — | |
| Stock-based compensation | 858,515 | 331,896 | 423,831 | 65,303 | |
| Non-cash lease expenses | 40,641 | 25,876 | 12,351 | — | |
| Inventories | 6,214 | −7,609 | −27,249 | — | |
| Prepaid expenses | 29,304 | 188,264 | −307,963 | — | |
| Other receivables | −48,605 | 145,297 | −47,113 | −68,000 | |
| Accounts payable | 38,570 | 66,641 | −268,149 | 466,102 | |
| Accrued liabilities | 94,931 | −120,829 | 85,126 | 23,922 | |
| Lease liabilities | −36,423 | −33,846 | — | — | |
| Income tax payable | — | −5,036 | 4,918 | — | |
| Net cash used in operating activities | −6 | −8 | −9 | −1 | |
| Purchase of equipment | — | −171,836 | −113,383 | — | |
| Net cash used in investing activities | — | −171,836 | −979,523 | — | |
| Proceeds from At-The-Market offering, net of issuance costs | 9 | 585,722 | — | — | |
| Proceeds from common shares issued for warrant exercise | — | 3,900 | 3 | — | |
| Capital contributions from GoldMining | — | 10,202 | 46,459 | 87,284 | |
| Net cash provided by financing activities | 9 | 599,824 | 22 | 1 | |
| Net change in cash, cash equivalents and restricted cash | 3 | −7 | 11 | 48,878 | |
| Allocation of stock-based compensation expenses from GoldMining | — | 13,675 | 54,348 | — |
Filings
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