Gold has been one of the best-performing commodities over the past year. While the metal has pulled lower after skyrocketing to record highs of $2071 an ounce, it is still flirting with levels not seen in a decade. The high gold prices above $1800 an ounce is the catalyst fuelling activities around the precious metal. US Gold Corp (NASDAQ: USAU) is the latest company to give the clearest of indication, it is ready to take advantage of the high gold prices.
U.S Gold Corp Wyoming Investment
The gold exploration and development company is reportedly eyeing gold and copper deposits Silver Crown Mining District in Wyoming. The company has been conducting drilling assessments of mineral deposits in the mining district.
Preliminary results have been positive, signaling that Wyoming could soon play host to its first gold mining operation in decades. U.S Gold Corp CEO has already confirmed the prospects of a higher-grade component with attractive grades at the core deposit.
Gold Resource U.S Exit
Even as U.S Gold Corp moves to launch the first gold mining operation in Wyoming, Gold Resource Corp (NYSEAMERICAN:GORO) has moved to consolidate its operations. The gold and silver miner has confirmed its Nevada unit’s divestment as part of a shift in focus.
GORO has spun the Nevada unit into a separate public company. Likewise, the company is to focus on its Mexico operations, having exited U.S mining operations. In Mexico, GORO controls over 684 square kilometers of ground.
The company also owns 55 kilometers of geographically important structural fault corridor. The assets meet the company’s goal of assets with low operating costs and potential for high returns on capital.
GCGC DeFi Bet
Separately, GCGC Investments has launched a global mining initiative that utilizes blockchain technology and Decentralized finance as it seeks to disrupt the $600 billion mining industry. The new initiative combines the century’s old mining industry with emerging technology to disrupt financial intermediaries in the industry.
According to Chief Executive Officer Jonathan Shek, the DeFi architecture’s ultimate goal is to create a better way to trade, access financial services and transform the mining industry. GCGC is to unlock the latent value of gold and other mineral deposits by fractionalizing participation powered by blockchain networks that tokenize gold and other resources.
