Dakota Gold (DC) Q1 2026 earnings summary

Executive summary

• Focused on gold exploration in the Homestake District, South Dakota, with no commercial production or revenue as of March 31, 2026.

• Expanded drilling at Richmond Hill and Maitland projects, with 62 new core holes completed in Q1 2026.

• Advanced feasibility and permitting activities for Richmond Hill, targeting a Pre-Feasibility Study in H2 2026.

• Raised significant capital through public offerings and ATM program to fund exploration and development.

Financial highlights

• Net loss of $8.5 million for Q1 2026, compared to $3.7 million in Q1 2025.

• Exploration expenses increased to $6.5 million from $1.9 million year-over-year, driven by higher drilling activity.

• General and administrative expenses rose to $2.5 million from $1.9 million year-over-year.

• Interest income increased to $0.5 million from $0.1 million year-over-year.

• Cash and cash equivalents at March 31, 2026 were $106.9 million, up from $29.7 million at December 31, 2025.

Outlook and guidance

• 2026 activities focus on advancing Richmond Hill through feasibility and permitting, with a Pre-Feasibility Study planned for H2 2026 and a Feasibility Study in 2027.

• Planned 15,500 meters of drilling at Richmond Hill and 5,600 meters at Maitland in 2026.

• Metallurgical test work and engineering studies underway to support project optimization.