Dakota Gold (DC) said Tuesday its feasibility study for the Richmond Hill Oxide Heap Leach Gold Project in South Dakota is fully funded through completion after raising $35 million from a shares offering.
The company said its total cash position now stood at more than $47 million before expenses.
Due to its "strong" cash position, the company is suspending its at-the-market equity program which it previously used for common stock offering, it added.
Dakota Gold said it anticipates launching the permitting process for the Richmond Hill project once it completes the study, which is expected in mid-2026.
The gold miner also said it intends to mobilize drills to Richmond Hill on April 1 and "could see potential" production in 2029.
Shares of the company were up 1.1% in recent Tuesday premarket activity.
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