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Mergers and Acquisitions are Gaining Momentum in Mining

Over the last few months, we’ve seen a rapid pickup in M&A activity in the mining space. BHP Group (NYSE: BHP), for example, made a $60 billion bid for Anglo American (OTC: NGLOY), whose prize jewel is its copper asset in South America. Alamos Gold (NYSE: AGI) (TSX: AGI) recently acquired Argonaut for about $325 million. Calibre Mining (TSX: MOZ) (OTC: CXBMF) just completed its acquisition of Marathon Gold Corporation. Orla Mining just acquired Contact Gold. McEwen Mining also just acquired Timberline Resources. Even better, analysts expect for the M&A trend to accelerate as metal prices continue to push to new all-time highs.

Another unique opportunity to be aware of in the mining development space is U.S. Gold Corp. (USAU: NASDAQ), which trades on the NASDAQ. Interesting to note, listing on the NASDAQ is unusual for a mining company. Most mining companies are listed in Canada and followed by Bay Street analysts. USAU is also “under the radar” of Canadian analysts.

At the moment, it’s waiting on a permit to mine its CK Gold Project in Wyoming. This project boasts a 1.44-million-ounce proven reserve, comprised of just over one million ounces of gold and 250 million pounds of copper. With spot gold and copper prices at $2,350 and $4.60, this proven mineral reserve is currently worth over $3.5 Billion in situ. USAU has just 10.7 million shares of common outstanding and trades at $4.00 per share. With permitted copper projects in Tier 1 jurisdictions becoming far more scarce, USAU could potentially be the next M&A opportunity in the mining sector.

U.S. Gold Corp. (NASDAQ: USAU) Presenting at 9th Current Trends in Mining Finance Conference hosted by the Society for Mining, Metallurgy and Exploration

U.S. Gold Corp. just announced that management will be attending and speaking at the 9th Current Trends in Mining Finance Conference hosted by the Society for Mining, Metallurgy and Exploration (SME), to be held on May 20-22, 2024 in New York (the “Conference”).

The industry-leading conference will focus on the key issues impacting the sourcing, funding and mining of critical, strategic, industrial and precious metals, mineral processing and recycling, as the industry transitions to sustainable renewable energy, electric vehicles, and the green economy.

U.S. Gold Corp.’s President & CEO, George Bee, will be a Guest Speaker at the reception to be held on the final day (Wednesday, May 22nd) of the Conference at 6:15-6:35pm, which is themed: Mineral Resource Development – Key Considerations: All mineral resources are not created equal.

Mr. Bee will also be a panelist for two discussions:

– Tuesday, May 21st at 2:45pm: What is Driving Today’s Cost Overrun of Mine and Other Projects; What Can You Do to Mitigate Risk? and

– Wednesday, May 22nd at 8:55am: What Are the Mines of the Future?

Other Guest Speakers for the receptions will include:

– Tuesday, May 21st at 6:30pm: Rob McEwen, Chairman, McEwen Mining and McEwen Copper speaking on How to Make Mining Relevant to Investors;

– Tuesday, May 21st at 7:10pm: Dave Lawie, Ph.D., Chief Geoscientist Mining, IMDEX Limited on Unlock the Mine’s Hidden Value: The Power of Ore Body Knowledge; and

– Wednesday, May 22nd following Mr. Bee’s speech: a fireside chat during the reception with Dr. Peter Megaw, co-founder of MAG Silver on Size Matters … But Grade Matters More.

For more information on the Conference, please visit Home – Current Trends In Mining Finance ( or to register, please click on this link: Register here

Other related developments from around the markets include:

BHP Group’s CEO Mike Henry just noted, ““We remain on track to meet copper, iron ore and energy coal production for the year. Copper volumes have increased by 10 per cent reflecting strong performance and additional tonnes from Copper South Australia, record year-to-date performance from Spence, and improved grades and production at Escondida. Western Australia Iron Ore, the lowest cost iron ore producer globally, delivered another consistent period of production despite heavy rainfall. We continue to invest in improvements to our rail and port operations, which are essential for growth in the medium term to 305 million tonnes per annum and beyond.”

Anglo American’s Chairman Stuart Chambers just noted, “”Anglo American is well positioned to create significant value from its portfolio of high-quality assets that are well aligned with the energy transition and other major demand trends. With copper representing 30% of Anglo American’s total production, and with the benefit of well-sequenced and value-accretive growth options in copper and other structurally attractive products, the Board believes that Anglo American’s shareholders stand to benefit from what we expect to be significant value appreciation as the full impact of those trends materialises. The BHP proposal is opportunistic and fails to value Anglo American’s prospects, while significantly diluting the relative value upside participation of Anglo American’s shareholders relative to BHP’s shareholders. The proposed structure is also highly unattractive, creating substantial uncertainty and execution risk borne almost entirely by Anglo American, its shareholders and its other stakeholders. Anglo American has defined clear strategic priorities – of operational excellence, portfolio, and growth – to deliver full value potential and is entirely focused on that delivery.”

Alamos Gold announced that they have entered into a definitive agreement whereby Alamos will acquire all of the issued and outstanding shares of Argonaut pursuant to a court approved plan of arrangement. As part of the Transaction, Alamos will acquire Argonaut’s Magino mine, located adjacent to its Island Gold mine in Ontario, Canada. The integration of the two operations is expected to create one of the largest and lowest cost gold mines in Canada. Through the use of shared infrastructure, Alamos expects to unlock significant value with immediate and long-term synergies expected to total approximately US$515 million1. The addition of Magino is expected to increase Alamos’ combined gold production to over 600,000 ounces per year, with longer term production potential of over 900,000 ounces per year. The combination materially enhances Alamos’ position as a leading, Canadian focused, intermediate producer, with growing production and declining costs.

Calibre Mining’s Darren Hall, President and Chief Executive Officer of Calibre, just noted: “Consistent with H1 2024 production expectations the team delivered 61,767 ounces in Q1, with gold production H2 weighted as additional organic production sources and higher-grade zones of gold mineralization are brought into the mine plan. We remain on track to deliver full year 2024 production guidance of 275,000 – 300,000 ounces. The beginning of 2024 has proven to be exciting for Calibre with the close of the acquisition of the multi-million-ounce Valentine Gold Mine in Canada, a fourth consecutive year of Mineral Reserve growth and our inclusion into the Van Eck GDX Index. Since becoming a gold producer during Q4, 2019, Calibre has delivered annual production growth of 28% year on year, with a track record of meeting or beating expectations. We are on a clear and concise path of delivery and growth. With an investment of more than 130,000 metres of resource expansion and discovery drilling in 2024, I am excited to see continued positive results across our entire portfolio of assets.

Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for U.S. Gold Corp. by U.S. Gold Corp. We own ZERO shares of U.S. Gold Corp. Please click here for disclaimer.


Ty Hoffer
Winning Media
[email protected]

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