Dakota Gold has done quite well since it was recommended on the site back on the 4th April. Initially it broke out of the fine Cup we had spotted and raced ahead to hit a zone of significant resistance. Then it backed off and it is now clear that it wanted to make a Handle to complement the Cup which is perfectly reasonable – after all, what is a Cup without a Handle?
Anyway, as we can see on the latest 6-month chart below, after reacting back quite hard from the resistance level shown it found support at the rising 50-day moving average again as we would expect and started higher again. So now we come to this morning’s big announcement by the company Dakota Gold Corp. Announces a Maiden Resource of 1.33 M oz of Indicated and 1.13 M oz of Inferred Gold for the Richmond Hill Gold Project in South Dakota with James Berry, VP of Exploration, commenting, "The initial drill program at Richmond Hill confirmed historical drilling and demonstrated that the mineralization is more extensive than we anticipated. We have been conservative in our methodology and are confident that the resource will expand with additional exploration and infill drilling. With inclusion of the significant silver component, and optimization of recoveries, we think the future of Richmond Hill is exceptional and a great beginning for our assets in the Homestake Gold District!"
By the look of it this news could really “light a fire” under the stock.
Here is Dakota’s latest 6-month chart.
We therefore stay long and although it is likely to gap up at the open, if you are fast you might be able to pick it up before supply is absorbed and it makes further gains during the day.
Dakota Gold website
Dakota Gold, DC, closed at $2.56 on 29th April 24.
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