SCHEDULE: AIMS & Seraya Reduce US Gold Corp. Stake Below 5%

AIMS Asset Management and Seraya Investment have reduced their beneficial ownership in U.S. Gold Corp. to 4.4%, falling below the 5% reporting threshold.

Summary

• AIMS Asset Management Sdn Bhd and Seraya Investment Pte. Ltd. (the "Reporting Persons") have filed an Amendment No. 10 to their Schedule 13G.
• The filing reports that the Reporting Persons have ceased to be beneficial owners of more than five percent of U.S. Gold Corp.'s Common Stock.
• As of December 31, 2025, the Reporting Persons beneficially own 721,807 shares, representing approximately 4.4% of the class.
• This ownership includes 249,929 common shares beneficially owned through warrants exercisable within 60 days.
• The percentage is calculated based on 16,312,361 shares outstanding.
• The filing also clarifies that voting and dispositive power over these shares are shared between AIMS and Seraya, which is a clarification of characterization and not a change in total shares beneficially owned.

Sentiment

Score: 3

Explanation: The reduction in beneficial ownership by a significant institutional investor group is generally viewed negatively, as it suggests a decreased conviction in the company's prospects or a strategic reallocation of capital away from U.S. Gold Corp.

Negatives

• A significant institutional investor group has reduced its stake in U.S. Gold Corp. below the 5% threshold, potentially indicating a decreased conviction or reallocation of capital.

Risks

• Reduced institutional ownership could lead to decreased investor confidence or liquidity for U.S. Gold Corp. shares.

Future Outlook

NA

Industry Context

A reduction in stake by an investment fund in a gold company could reflect broader sentiment towards the gold sector, specific company performance, or portfolio rebalancing strategies.

Stakeholder Impact

• Shareholders: May interpret the reduction in institutional ownership as a negative signal, potentially leading to downward pressure on the stock price.

Key Dates

Recommendation

The reduction in beneficial ownership by a major institutional investor group, AIMS Asset Management and Seraya Investment, below the 5% threshold suggests a loss of conviction or a strategic divestment. While not a direct performance indicator, such a move by sophisticated investors often signals potential headwinds or a less favorable outlook for the company compared to alternatives. This could lead to decreased investor confidence and potential downward pressure on the stock, warranting a "sell" recommendation for investors looking to reallocate capital.

Keywords

U.S. Gold Corp., US Gold, AIMS Asset Management, Seraya Investment, Phoenix Gold Fund, Schedule 13G, Beneficial Ownership, Common Stock, Gold Mining, Investment Fund, Stake Reduction