Dakota Gold Corp. announces executive departure

Dakota Gold Corp. (NYSE American: DC), a company engaged in metal mining with a market capitalization of $286 million, disclosed in a recent SEC filing that Patrick Malone, the Senior Vice President and Chief Legal Officer, will resign effective April 6, 2025. According to the filing dated February 21, 2025, Malone is leaving to pursue another executive opportunity. The announcement comes as the company’s stock trades near its 52-week high of $3.50, having gained over 55% year-to-date.

The company, headquartered in Lead, South Dakota, stated that Malone’s decision to leave was not due to any disagreements with the company’s management or its board of directors. Dakota Gold Corp. expressed gratitude for Malone’s contributions and wished him well in his future endeavors. According to InvestingPro data, the company maintains a healthy financial position with a current ratio of 2.17, indicating strong liquidity. For more detailed insights and 12 additional ProTips about Dakota Gold Corp., consider exploring InvestingPro’s comprehensive analysis.

Malone has been serving as the Senior Vice President and Chief Legal Officer of Dakota Gold Corp., which was formerly known as JR Resources Corp. before its name change on March 19, 2021. The company is incorporated in Delaware and is listed on the NYSE American LLC exchange with the trading symbol DC for its common stock and DC.WS for its warrants.

The filing also mentioned that each warrant is exercisable for one share of the company’s common stock at an exercise price of $2.08. The announcement of Malone’s departure was made in compliance with the SEC’s regulations and is part of the company’s current report on Form 8-K.

Dakota Gold Corp. has not yet announced a successor for the position. This information is based on a press release statement filed with the SEC.

In other recent news, Dakota Gold Corp. has caught the attention of BMO Capital Markets, which raised the company’s stock price target to $7.50 from the previous $6.00. This adjustment follows Dakota Gold’s announcement of a significant increase in resources at its Richmond Hill property, which now includes 6.3 million ounces of oxide and transition resources. BMO Capital maintained its Outperform rating on Dakota Gold, indicating continued confidence in its performance. Analyst Andrew Mikitchook from BMO Capital noted that the Richmond Hill oxides are now comparable to the Wharf mine, which has historically produced over 4 million ounces of gold. The updated resource estimate has led to projections that Dakota Gold could potentially double its production from about 85,000 ounces of gold per year to nearly 200,000 ounces annually. This increased production forecast is a key factor behind the raised price target. Dakota Gold Corp. has not publicly responded to the new price target or BMO Capital’s assessment, but these developments are expected to influence market perceptions.

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