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Dakota Gold Corp

For the period ended Dec 31, 2023. Filed Mar 28, 2024.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 28, 2024

DC$5.95+5.9%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

[X] ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

or

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended** December 31,2023 **

Commission file number** 000-41349 **

** Dakota Gold Corp. **

(Exact Name of Registrant as Specified in its charter)

Nevada85-3475290
(State or other jurisdiction ofincorporation or organization)(I.R.S. Employer Identification No.)

** 106 Glendale Drive, Suite A, Lead, SD 57754 **

(Address of principal executive offices, Zip Code)

(605)717-2540

(Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common stock, par value $0.001 per shareDCNYSE American LLC
Warrants, each warrant exercisable for one share of the Registrant's common stock at an exercise price of $2.08DC.WSNYSE American LLC

Securities registered pursuant to Section 12(g) of the Act:None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes [ ]No [X]

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes [ ]No [X]

Indicate by check mark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes [X] No [ ]

Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes [X] No [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act (Check one):

Large Accelerated Filer[ ]Accelerated Filer[ ]
Non-Accelerated Filer[X]Smaller Reporting Company[X]
Emerging Growth Company[X]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.[ ]

Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. [ ]

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.[ ]

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b). [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).

Yes [ ] No[X]

The aggregate market value of the voting and non-voting common equity of Dakota Gold Corp. held by non-affiliates as of June 30, 2023, the last business day of the registrant's most recently completed second fiscal quarter, was $230,894,927, based on the closing price of the common stock of $2.92 as reported on the NYSE American.

As of March 28, 2024, there were 87,703,942 shares of common stock, par value $0.001 per share, outstanding.

DOCUMENTS INCORPORATED BY REFERENCE

Portions of the definitive proxy statement related to the 2024 annual meeting of stockholders to be filed within 120 days after December 31, 2023 are incorporated by reference in Part III of this annual report on Form 10-K.

Auditor Firm ID: 42Auditor Name: Ernst & Young LLPAuditor Location: Denver, Colorado, USA

TABLE OF CONTENTS

Page
Glossary of Termsiv
Cautionary Notice Regarding Forward-Looking Statementsvi
Part I
Item 1Business1
Item 1ARisk Factors6
Item 1BUnresolved Staff Comments17
Item 1CCybersecurity17
Item 2Properties18
Item 3Legal Proceedings30
Item 4Mine Safety Disclosure30
Part II
Item 5Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities31
Item 6[Reserved]31
Item 7Management's Discussion and Analysis of Financial Condition and Results of Operations31
Item 7AQuantitative and Qualitative Disclosures About Market Risk37
Item 8Financial Statements and Supplementary Data38
Item 9Changes in and Disagreements with Accountants on Accounting and Financial Disclosure63
Item 9AControls and Procedures63
Item 9BOther Information63
Item 9CDisclosures Regarding Foreign Jurisdictions that Prevent Inspections64
Part III
Item 10Directors, Executive Officers and Corporate Governance64
Item 11Executive Compensation64
Item 12Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters64
Item 13Certain Relationships and Related Transactions and Director Independence64
Item 14Principal Accountant Fees and Services64
Part IV
Item 15Exhibit and Financial Statement Schedules64
Signatures66
ContentsView on SEC.gov

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