Business
U.S. Gold Corp. Reports on University of Wyoming Center for Business and Economic Study on the Potential CK Gold Project Economic Impact
According to an independent study, the CK Gold Project is estimated to create 324 long-term direct jobs and up to 1,024 local jobs throughout the region as a
About this update from U.s. Gold Corp.
[{"type":"text","content":"According to an independent study, the CK Gold Project is estimated to create 324 long-term direct jobs and up to 1,024 local jobs throughout the region as a result of estimating the greater effect of the direct investment in the proposed development\nTotal taxes generated during the construction, operation, and closure phases of the project over 13 years were estimated at $75 million in the study\nCHEYENNE, Wyo., April 5, 2022 /PRNewswire/ -- U.S. Gold Corp. (\"U.S. Gold,\" the \"Company,\" \"we,\" \"our\" or \"us\") (NASDAQ: USAU) is providing commentary on an independent study (the \"Study\") it commissioned with the University of Wyoming Center for Business and Economic Analysis on the proposed development of the Company's CK Gold Project, located in southeast Wyoming. Based on the Company's Prefeasibility Report published on December 1, 2021, the Study utilizes IMPLAN software to calculate the effects of the direct investment proposed by U.S. Gold Corp. and estimates the indirect and induced economic impact as a result of the proposed CK Gold Project operations.\nIn commenting on the Study, Eric Alexander, Chief Financial Officer of U.S. Gold Corp., said, \"We would like to thank the principals of the University of Wyoming Center for Business and Economic Analysis for conducting the study. While we understand the direct impact of our proposed project and the spin-off economic activity are difficult to estimate, we hope the information presented helps those parties interested in the project and its effect on the local economy to better understand the economic implications of the CK Gold Project.\"\nMr. Alexander went on to say, \"Additionally, the total tax generated does not consider the royalty payments due to the State of Wyoming over the life of the project, which are estimated to be in the tens of millions of dollars. These royalty payments are earmarked for the benefit of the state's K-12 education fund.\" \nTo provide greater context on the scope and purpose of the Study, set forth below is an excerpt from the Study from the University of Wyoming Center for Business and Economic Analysis:\n\"Economic impact analyses are a widely accepted research approach used to better comprehend the effect of a new event or industry changes on local and state economies. These analyses typically use input-output methodologies to re-c...