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Dakota Gold Corp. (DC+0.89%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes details on the company's mineral exploration activities in the Homestake District of South Dakota. Dakota Gold Corp. holds 100% ownership of 11 mineral projects in the area, covering approximately 49,260 acres.
The company reported a net loss of $33.88 million for the year, compared to a net loss of $36.45 million in the previous year. Exploration expenses totaled $23.71 million, while general and administrative expenses were $10.63 million.
Dakota Gold Corp. has not yet generated any revenue from its operations, as the company is still in the exploration stage and has not established any mineral reserves.
The company completed 117 drill holes for 146,691 feet of core on two projects during 2024, focusing on the Maitland and Richmond Hill projects.
Dakota Gold Corp. announced an updated S-K 1300 Initial Assessment for the Richmond Hill Gold Project, identifying a significant measured and indicated heap leachable gold resource.
The company plans to continue its exploration and resource development drilling in 2025, with anticipated expenditures of up to $25 million.
As of December 31, 2024, Dakota Gold Corp. had $9.41 million in cash and cash equivalents and a working capital of $7.19 million.
The company raised approximately $15.91 million through financing activities during the year, including proceeds from an equity investment by Orion Mine Finance.
Dakota Gold Corp. is subject to various risks, including the volatility of gold prices, the ability to obtain necessary permits, and the challenges of operating in a competitive mining industry.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Dakota Gold Corp. annual 10-K report dated March 20, 2025. To report an error, please email earnings@qz.com.