Dakota Gold (DC) Q1 2025 earnings summary

Executive summary

• Focused on gold exploration in the Homestake District, South Dakota, with no current revenues and all projects in the exploration stage.

• Completed over 250 drill holes since 2022, with significant progress at Maitland and Richmond Hill projects.

• Richmond Hill Project received an updated S-K 1300 Initial Assessment in February 2025.

• Raised $32.7 million in a public offering and $7.3 million via ATM program in Q1 2025.

Financial highlights

• Net loss of $3.7 million for Q1 2025, down from $8.6 million in Q1 2024.

• Exploration expenses decreased to $1.9 million from $6.5 million year-over-year due to reduced drilling.

• General and administrative expenses were $1.9 million, down from $2.2 million year-over-year.

• Cash and cash equivalents increased to $46.6 million as of March 31, 2025.

• Working capital of $45.5 million as of March 31, 2025.

Outlook and guidance

• Sufficient funds to support activities for the next twelve months, with planned cash expenditures of $25 million for 2025.

• Focus on completing S-K 1300 Initial Resource with Cash Flow analysis for Richmond Hill and advancing feasibility studies.

• Additional drilling and geological modeling planned for Maitland and Richmond Hill projects.