US Gold Corp (NASDAQ:USAU) has received a BBB rating in an independent sustainability assessment by Digbee Limited, the company said on Wednesday.
The rating, which evaluates environmental, social, and governance (ESG) factors, primarily reflects the progress of US Gold's CK Gold Project in southeast Wyoming.
Digbee’s assessment assigns ratings from AAA to D based on a company's risk management and adherence to global sustainability frameworks.
The BBB rating indicates that US Gold is making solid progress in meeting the risk criteria required by financing entities as it moves toward securing project funding.
"Over the last four years, we have endeavored to do things 'the right way,' reaching out to the local community and authorities and taking care that our disturbances resulting from exploration activities are cleared up as we go along,” USGold CEO George Bee said in a statement.
“The assessment shows where we can still do better, but overall the BBB rating at this early stage is a great endorsement that we are on the right track as we move toward development.”
Jamie Strauss, founder and CEO of Digbee, said the assessment highlights US Gold’s commitment to responsible development and transparency. "By proactively evaluating risks and opportunities, the company is positioning itself to build long-term value while meeting the evolving expectations of investors and stakeholders," he said.
The CK Gold Project has already received permits for development, and US Gold emphasized that addressing ESG risks is critical for securing financing.