Dahlman Rose & Co. Comment On Completion Of US Gold's Public Offering Of Common Stock (UXG)

Dahlman Rose & Co. have released a research report commenting on the completion of US Gold's UXG public offering of common stock.

"US Gold is now well funded to both explore and develop its assets in Mexico and Nevada," Dahlman Rose & Co. writes. "US Gold intends on using the net proceeds to complete feasibility study work and acquire long lead-time capital items for the El Gallo Project in Mexico (scheduled to begin production in late 2013), complete pre-feasibility and feasibility work at the Gold Bar Project in Nevada (scheduled for release 3Q2011), and continue ongoing aggressive exploration programs in Mexico and Nevada with a $15MM and $5MM-7MM budget for 2011, respectively."

Dahlman Rose & Co. maintains its Buy rating and $9.26 PT.

Shares of UXG closed Friday at $8.06.