ASSET RETIREMENT OBLIGATION |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Oct. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Asset Retirement Obligation Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ASSET RETIREMENT OBLIGATION |
NOTE 6 — ASSET RETIREMENT OBLIGATION
In conjunction with various permit approvals permitting 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 periods presented:
For the three months ended October 31, 2025 and 2024, accretion expense amounted to $8,365 and $7,605 respectively, and for the six months ended October 31, 2025 and 2024, accretion expense amounted to $16,844 and $15,323 respectively, and was included in general and administrative expenses as reflected in the accompanying unaudited condensed consolidated statements of operations.
U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OCTOBER 31, 2025
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