Dakota Gold Corp. reported its financial results for the three and nine months ended September 30, 2024, highlighting a continued exploration focus in the Homestake District. The company recorded total assets of $100.77 million, a decrease from $108.20 million at the end of 2023. Current assets also fell significantly to $15.47 million from $26.22 million, primarily due to a reduction in cash and cash equivalents, which decreased to $14.70 million from $25.55 million.

Total liabilities increased to $7.45 million, up from $4.67 million at the end of 2023, with current liabilities rising to $7.12 million from $4.49 million. Stockholders' equity decreased to $93.31 million from $103.54 million. For the three months ended September 30, 2024, Dakota Gold reported a loss from operations of $10.23 million, compared to a loss of $8.86 million for the same period in 2023. The net loss for the quarter was $10.09 million, up from $8.54 million year-over-year. For the nine-month period, the net loss was $27.84 million, slightly higher than $27.63 million in 2023.

The company’s exploration expenses for the third quarter increased to $7.80 million from $6.94 million in the prior year, attributed to more drilling activities and the engagement of a specialist drilling company. General and administrative expenses also rose to $2.43 million from $1.92 million, reflecting higher support costs and stock-based compensation.

In terms of financing, Dakota Gold secured an investment of approximately $5.86 million from Orion Mine Finance in June 2024, which included the purchase of 2,344,836 shares at $2.50 per share. The company raised approximately $7.67 million through its ATM program during the nine months ended September 30, 2024, a decrease from $15.44 million in the same period of 2023.

Strategically, Dakota Gold has focused on expanding its portfolio of brownfield properties in the Homestake District, with 100% ownership of several properties aggregated into the "Black Hills Property." The company has not yet generated revenues, as it remains in the exploration stage, with a mineral resource estimate established only for the Richmond Hill property.

As of September 30, 2024, Dakota Gold had working capital of approximately $8.35 million and an accumulated deficit of approximately $70.51 million. The company anticipates cash expenditures of around $34 million for the twelve months ending December 31, 2024, with $24.45 million already incurred through September 30, 2024.