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Midas Edge

Dakota Gold Corp.

For the period ended Jun 30, 2026. Filed Aug 12, 2026.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2026 · Filed Aug 12, 2026

DC$6.45+8.4%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Table of Contents

​​ ​ ​​​ ​Page
​​Part I​​
Item 1​Condensed Consolidated Interim Financial Statements (unaudited)​7
Item 2​Management’s Discussion and Analysis of Financial Condition and Results of Operations​14
Item 3​Quantitative and Qualitative Disclosures About Market Risk​19
Item 4​Controls and Procedures​19
​​​​​
​​Part II​​
Item 1​Legal Proceedings​19
Item 1A​Risk Factors​19
Item 2​Unregistered Sales of Equity Securities and Use of Proceeds​20
Item 3​Defaults Upon Senior Securities​20
Item 4​Mine Safety Disclosure​20
Item 5​Other Information​20
Item 6​Exhibits​21
Signatures​​​22

Condensed Consolidated Interim Balance Sheets (Unaudited)

​​​​​
​​ ​ ​June 30,​ ​ ​December 31,
All amounts in US dollars ($)​2026​2025
​ · $ · ​ · $
ASSETS · ​ · ​ · ​
​​​​​
Current assets · ​ · ​ · ​
Cash and cash equivalents99,296,041​29,686,451
Prepaid expenses and other current assets981,222​667,330
Total current assets100,277,263​30,353,781
​​​​​
Non-current assets​​​
Mineral rights and properties83,390,889​82,898,617
Property and equipment, net3,069,943​2,149,961
Other assets1,100,297​455,591
Total assets187,838,392​115,857,950
​​​​​
LIABILITIES AND STOCKHOLDERS’ EQUITY​​​
​​​​​
Current liabilities​​​
Accounts payable and accrued liabilities2,881,761​2,873,987
Finance lease liabilities – current6,303​—
Operating lease liabilities – current​105,495​124,785
Total current liabilities2,993,559​2,998,772
​​​​​
Non-current liabilities​​​
Finance lease liabilities981,626​—
Operating lease liabilities​26,747​80,881
Other non-current liability—​257,758
Total liabilities4,001,932​3,337,411
​​​​​
Commitments and contingencies (Note 9)​​​
​​​​​
Stockholders’ equity​​​
Common stock, par value $0.001; 300,000,000 authorized, 134,069,582 and 114,068,842 shares outstanding, respectively134,069​114,067
Additional paid-in capital306,602,651​218,494,483
Accumulated deficit(122,900,260)​(106,088,011)
Total stockholders’ equity183,836,460​112,520,539
Total liabilities and stockholders’ equity187,838,392​115,857,950

Condensed Consolidated Interim Statements of Operations and Comprehensive Loss (Unaudited)

​​​​​​​​​
​ · ​ · Three Months Ended June 30, · Six Months Ended June 30,
​​ ​ ​2026​ ​ ​2025​ ​ ​2026​ ​ ​2025
​​$​$​$​$
Operating expenses · ​ · ​ · ​ · ​ · ​ · ​ · ​
Exploration expenses6,505,315​5,018,606​13,022,804​6,931,835
General and administrative expenses2,728,929​1,855,220​5,197,007​3,756,088
Loss from operations(9,234,244)​(6,873,826)​(18,219,811)​(10,687,923)
​​​​​​​​​
Other income (expenses)​​​​​​​
Foreign exchange gain (loss)35,712​(521)​20,152​(9,018)
Gain on sale of property and equipment​—​—​11,629​—
Interest income869,539​414,797​1,397,083​497,875
Interest expense​(9,711)​—​(9,711)​—
Total other income895,540​414,276​1,419,153​488,857
​​​​​​​​​
Loss before income taxes(8,338,704)​(6,459,550)​(16,800,658)​(10,199,066)
Income tax expense(11,104)​(6,458)​(11,591)​(12,485)
Net loss and comprehensive loss(8,349,808)​(6,466,008)​(16,812,249)​(10,211,551)
​​​​​​​​​
Basic and diluted loss per share(0.06)​(0.06)​(0.13)​(0.10)
​​​​​​​​​
Weighted average number of basic and diluted shares of common stock outstanding133,847,641​112,038,980​128,841,369​104,843,650

Condensed Consolidated Interim Statements of Cash Flows**(Unaudited)**

​​​​​
​ · ​ · Six Months Ended June 30,
​​ ​ ​2026​ ​ ​2025
​​$​$
Operating activities​​​​
Net loss​(16,812,249)​(10,211,551)
Adjustments to reconcile net loss to net cash used in operating activities:​​​​
Depreciation expense​100,778​95,171
Gain on sale of property and equipment​(11,629)​—
Stock-based compensation expense​1,539,939​1,364,633
Changes in current assets and liabilities:​​​​
Prepaid expenses and other current assets​(313,892)​(69,156)
Accounts payable and accrued liabilities​(9,405)​235,387
Net cash used in operating activities​(15,506,458)​(8,585,516)
​​​​​
Investing activities​​​​
Purchases and advances for property and equipment​(708,933)​—
Proceeds from the sale of property and equipment​13,000​—
Purchases of mineral rights and properties​(750,030)​(20,000)
Net cash used in investing activities​(1,445,963)​(20,000)
​​​​​
Financing activities​​​​
Proceeds from sale of common stock on at-the-market program (the “ATM Program”), net of issuance costs​3,487,919​7,316,230
Proceeds from common stock offering, net of issuance costs​71,711,027​32,684,881
Proceeds from exercise of stock options​748,293​96,000
Proceeds from exercise of warrants​10,898,838​1,856,608
Payments of income taxes on performance stock units (“PSUs”), restricted stock units (“RSUs”) and shares issued for compensation​(283,573)​(785,458)
Principal repayment on finance lease liability​(493)​—
Net cash provided by financing activities​86,562,011​41,168,261
​​​​​
Net change in cash and cash equivalents​69,609,590​32,562,745
Cash and cash equivalents, beginning of period​29,686,451​9,408,270
Cash and cash equivalents, end of period​99,296,041​41,971,015
​​​​​
Non-cash investing and financing activities and supplemental cash flow information​​​​
Amortization and expiration of deferred ATM Program costs offset against additional paid-in capital​(25,727)​(37,293)
Addition of right-of-use asset classified as finance lease in exchange for lease liability​988,422​—
Interest paid on finance lease liability​9,507​—
Common stock issued for accrued bonuses​—​113,958

Condensed Consolidated Interim Statements of Changes In Equity**(Unaudited)**

​​​​​​​​​​​
​​ ​ ​​​​​​​​​​
​ · ​ · Common Stock · ​ · Additional · ​ · ​ · ​ · Total
​​Number​​​Paid-in​Accumulated​Stockholders’
​​ ​ ​of Shares​ ​ ​Amount​ ​ ​Capital​ ​ ​Deficit​ ​ ​Equity
​ · # · ​ · $ · ​ · $ · ​ · $ · ​ · $
Balance, December 31, 2025114,068,842​114,067​218,494,483​(106,088,011)​112,520,539
Common stock issued for ATM Program, net of issuance costs​586,749​587​3,513,059​—​3,513,646
Common stock offering, net of issuance costs12,561,000​12,561​71,763,466​—​71,776,027
Common stock issued for RSUs and PSUs769,720​770​(770)​—​—
Common stock issued for exercise of options291,045​291​299,309​—​299,600
Common stock issued for exercise of warrants5,239,821​5,240​10,893,598​—​10,898,838
Payment of income taxes remitted on PSUs, RSUs and shares—​—​(283,573)​—​(283,573)
Stock-based compensation expense—​—​567,419​—​567,419
Net loss—​—​—​(8,462,441)​(8,462,441)
Balance, March 31, 2026​133,517,177​133,516​305,246,991​(114,550,452)​190,830,055
Common stock issued for RSUs and PSUs​87,667​88​(88)​—​—
Common stock issued for exercise of options​464,738​465​448,228​—​448,693
Stock issuance costs​—​—​(65,000)​—​(65,000)
Stock-based compensation expense​—​—​972,520​—​972,520
Net loss​—​—​—​(8,349,808)​(8,349,808)
Balance, June 30, 2026134,069,582​134,069​306,602,651​(122,900,260)​183,836,460
​​​​​​​​​​​
​ · ​ · Common Stock · ​ · Additional · ​ · ​ · ​ · Total
​​Number​​​Paid-in​Accumulated​Stockholders’
​​ ​ ​of Shares​ ​ ​Amount​ ​ ​Capital​ ​ ​Deficit​ ​ ​Equity
​ · # · ​ · $ · ​ · $ · ​ · $ · ​ · $
Balance, December 31, 202495,570,483​95,570​168,605,692​(76,549,312)​92,151,950
Common stock issued for ATM Program, net of issuance costs2,548,713​2,549​7,276,388​—​7,278,937
Common stock offering, net of issuance costs12,400,000​12,400​32,672,481​—​32,684,881
Common stock issued for RSUs and PSUs529,989​530​(530)​—​—
Common stock issued for exercise of options10,000​10​19,190​—​19,200
Common stock issued for exercise of warrants780,048​780​1,621,720​—​1,622,500
Common stock issued for accrued compensation37,610​37​113,922​—​113,959
Payment of income taxes remitted on PSUs, RSUs and shares—​—​(507,594)​—​(507,594)
Stock-based compensation expense—​—​737,284​—​737,284
Net loss—​—​—​(3,745,543)​(3,745,543)
Balance, March 31, 2025​111,876,843​111,876​210,538,553​(80,294,855)​130,355,574
Common stock issued for RSUs and PSUs​231,104​231​(231)​—​—
Common stock issued for exercise of options​40,000​40​76,760​—​76,800
Common stock issued for exercise of warrants​112,553​111​233,997​—​234,108
Payment of income taxes remitted on PSUs, RSUs and shares​—​—​(277,864)​—​(277,864)
Stock-based compensation expense​—​—​627,349​—​627,349
Net loss​—​—​—​(6,466,008)​(6,466,008)
Balance, June 30, 2025112,260,500​112,258​211,198,564​(86,760,863)​124,549,959
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.