Dakota Gold slides on $75 mln stock sale

Dakota Gold

10/02/2026 11:43

** Dakota Gold DC.A shares down 7.4% premarket at $6.10 after overnight follow-on priced

** Lead, South Dakota-based gold miner late Mon sold ~12.3 mln shares for approx $75 mln gross raise

** Offering price equates to around $6.08, which is 7.7% discount to stock's last sale

** Co intends to use net offering proceeds for working capital and other general corporate purposes

** BMO and Scotiabank joint bookrunners

** Dakota has over 48 thousand acres surrounding Homestake Mine in South Dakota and an option to acquire 4,261 acres of surface rights with attendant facilities and data held by Homestake Mining Company, a subsidiary of Barrick ABX.TO

** Dakota has ~116.2 mln shares outstanding, per the prospectus

** DC shares on Mon rose ~9%, putting them up 16% YTD. Stock closed at $3.12 a year ago

** All 4 analysts rate the stock "buy"; median PT $9.88, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))