ASSET RETIREMENT OBLIGATION |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Apr. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Asset Retirement Obligation Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ASSET RETIREMENT OBLIGATION |
NOTE 6 — ASSET RETIREMENT OBLIGATION
In conjunction with various permit approvals allowing the Company to undergo exploration activities at the CK Gold and Keystone projects, the Company has recorded an ARO based upon the reclamation plans submitted in connection with the various permits. The following table summarizes activity in the Company’s ARO for the years presented:
SCHEDULE OF ASSET RETIREMENT OBLIGATION
For the years ended April 30, 2025 and 2024, accretion expense amounted to $30,764 and $27,968, respectively.
U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2025
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- References No definition available.
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- Definition The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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