Members,
We're thrilled to unveil our latest gem pick, Dakota Gold Corp. (NYSE: DC), a company that has captured our attention due to its robust fundamentals and exceptional growth potential. DC may be on the cusp of doing something it hasn't done in all of 2024. We believe the company could be an opportunistic trade, as well as a significant addition to your portfolio.
Technical Overview: A Bullish Setup You Can’t Ignore
Dakota Gold (NYSE: DC) is currently exhibiting strong technical indicators that suggest a bullish trend. Here’s a detailed breakdown:
DC has solidified its support at $2.24, creating a strong base for potential upward movement. The next resistance level is pegged at $2.73, in which a break above could trigger a substantial rally. DC is trading above its 50-day Moving Average (MA). This potentially means the stock could experience a bullish trend reversal and a sustained upward trend, signaling continued growth. Historically, stocks maintaining this
pattern tend to outperform in the subsequent months.
With an RSI currently at 57.55, DC is in a comfortable range, avoiding overbought territory while maintaining upward momentum. This balance indicates that the stock is neither overstretched nor oversold, offering a promising entry point for investors.
The Moving Average Convergence Divergence (MACD) indicator stands at 0.0465, indicating that the shorter-term moving average is slightly above the longer-term moving average, suggesting a bullish momentum in the DC’s price.
About the Company:
Founded in 2017, Dakota Gold Corp. stands out in the gold exploration and development space, focusing on high-potential gold assets in the United States. Headquartered in Lead, South
Dakota.
Data from StockAnalysis.com, shows DC has a market cap of $218.2M and a 10-Day Average Volume of 130K shares trading under the NYSE stock index.
The company is dedicated to uncovering and developing world-class gold deposits in one of the most prolific gold regions in the world. The company’s commitment to excellence in exploration and development sets it apart as a leader in the industry.
August 22, 2024
- Press Release:
Dakota Gold Corp. Intercepts 2.85 grams/tonne Gold over 13.7
Meters of Tertiary Epithermal Mineralization in the Unionville Zone
Significant Highlights (See Table 1):
• Drill hole MA24C-053 intersected 2.85 grams/tonne gold (g/t Au) over 13.7 meters and 1.44 g/t
Au over 23.0 meters, and MA24C-048 intersected multiple sections of gold mineralization including 4.34 g/t Au over 7.0 meters of Tertiary epithermal mineralization. Both drill holes were located within the central portion of the Unionville Zone at shallow depths.
• Drill hole MA24C-047, the northern most drill hole completed to date,
has intersected 4.73 g/t Au over 3.6 meters of deeper, higher-grade Tertiary epithermal mineralization more than 2 kilometers north of the main Unionville Zone discovery. MA24C-047 extends the mineralization approximately 200 meters past the previously announced step-out drill hole, MA24C-040. Tertiary epithermal gold mineralization remains open in all directions at Maitland.
August 1, 2024 - Press Release:
Dakota Gold Corp. Publishes 2023 Sustainability Report
In the words of the CEO;
Jonathan Awde, President, CEO and Director of Dakota Gold, commented, "At Dakota Gold, our accomplishments extend far beyond exploration discoveries; they reflect our unwavering commitment to prioritizing health and safety, environmental stewardship, and the sustainable development of the region. We are proud to be celebrating several momentous achievements in our 2023 Sustainability Report,
including three years with zero lost time incidents, and zero reportable environmental incidents since commencing our drill programs in early 2022.
The CEO has also said “Our team has grown exponentially, and we feel it is remarkable to have maintained our high
standards for health and safety, while onboarding new team members and executing on our exploration programs. We look forward to continuing to advance our Company and pave the way for a brighter future for South Dakota."
June 26, 2024 - Press Release:
Dakota Gold Corp. Announces $6 Million Orion Mine Finance Investment with a Potential Increase To Up To $9 Million.
The CEO commented, “I am
very pleased to announce our continued strategic partnership with Orion. Orion's ownership of Dakota Gold, together with their prior investment from 2023, will increase to a total of 9.9% share ownership. Orion is a respected investor and lender in the mining industry and we value their support and look forward to continuing to work together as we revitalize the Homestake District."
July 2, 2024 - Press Release:
Dakota Gold Corp. Announces Closing of $6 Million First Tranche of Up to $9 Million Orion Mine Finance
Investment
According to Newsfilecorp, the company has closed the equity and royalty investment of $6 million by certain entities managed by Orion Mine Finance (see Press release dated June 26, 2024). In addition, Dakota Gold raised proceeds of approximately $7 million from other investors through the use of the Company's at-the-market offering program between June 27, 2024 to July 1, 2024, resulting, with Orion's investment, in total aggregate gross proceeds of
approximately $13 million.
Jonathan Awde President, CEO and Director of Dakota Gold has been involved in the gold business since he co-founded Gold Standard Ventures Corp. in 2004. He also served as the CEO from July 2010 to December 2020.
Why Dakota Gold Corp. (NYSE: DC) Stands Out
Dakota Gold Corp. differentiates itself in the market through its strategic approach to value creation: DC holds a portfolio of high-potential gold properties in the Black Hills of South Dakota, a region historically known for significant gold production. These assets offer the company substantial upside potential.
Dakota Gold Corp has a property position of over 48,000 acres, with key projects on private land. The company currently has four drills operating at its Richmond Hill and Maitland Gold Projects. They have planned a $30 million exploration program
for 2024. Additionally, historic data from over 145 years of mining and exploration has been digitized and is being integrated.
The company’s experienced exploration team has a deep understanding of the region’s geology, enabling them to identify and capitalize
on the most promising gold deposits.
Capitalizing on the Gold Surge
According to Yahoo Finance, the Gold Exploration, Mining, Processing, Extracting, and Smelting market is currently experiencing a resurgence with a market cap of $274.159 Billion, driven by economic uncertainty, geopolitical tensions, and rising inflation.
Gold is traditionally seen as a safe-haven asset, and with current macroeconomic conditions, demand for gold is on the rise.
For years, large gold companies have underfunded their projects and are now exploring for new assets.
Gold and commodity prices peaked in 2011 and stayed
depressed as money flowed to tech firms, real estate, you name it.
Suddenly…in 2024…
Gold prices have hit record highs… and don’t forget about copper nearing all-time highs!
Rising Gold Prices:
With gold prices hovering around $2,548 per ounce data from Bloomberg reports shows gold is up +27.84% this year, and experts predicting further increases, Dakota Gold (NYSE: DC) is well-positioned to benefit from this upward trend. As a company focused on exploration and development, $DC offers leverage to rising gold prices through the discovery of new resources.
The global demand for gold is expected to remain strong, driven by both industrial uses and investment demand. Central banks continue to increase their gold reserves, adding another layer of support to gold prices.
With inflation concerns growing, gold’s role as a hedge against inflation becomes even more critical.
Investors seeking to protect their portfolios from inflationary pressures are likely to increase their allocation to gold, benefiting companies like Dakota Gold Corp.
What Lies Ahead for Dakota Gold?
As gold prices continue to exhibit bullish momentum, underpinned by a weaker U.S. dollar and declining U.S. yields,
which highlight the metal's role as a safe-haven asset in times of economic uncertainty, DC is not just resting on its laurels. The company has a clear roadmap for future growth, which includes:
Actively expanding its exploration activities in the Black Hills region, with several high-potential targets identified for drilling.
The company’s focus is on increasing its resource base through continuous exploration.
The company is committed to expanding its gold resources through aggressive drilling programs. With several exploration projects underway, Dakota Gold Corp. is poised to discover and develop additional gold deposits, adding significant value to its portfolio.
During Friday’s trading hours, Dakota Gold Corp (NYSE: DC) closed up 6.88% with an RSI of 57.55, indicating potential for further growth as it is neither oversold nor overbought.
Why Now is the Time to Consider Dakota Gold
(NYSE: DC)?
The combination of a strong technical setup, a diversified and high-quality asset base, and experienced leadership makes Dakota Gold (NYSE: DC) an attractive investment opportunity. With the gold market on the rise and DC strategically positioned to capitalize on this trend, we believe this stock has significant upside
potential.
As always, we encourage you to conduct your own research and consider how Dakota Gold (NYSE: DC) fits into your broader investment strategy.
Sincerely,
The DEXWireNews Team
