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TICKERS: DC

South Dakota Gold Co Reports Positive Drill Results From Maitland Project
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Dakota Gold Corp. (DC:NYSE American) recently announced drill results from eight additional holes targeting the Unionville Zone at its Maitland Gold Project, according to a Canaccord Genuity Corp. research note.

Canaccord Genuity Corp. analyst Peter Bell, in a research report published on July 9, 2024, provided an update on Dakota Gold Corp. (DC:NYSE American) following the company's announcement of drill results from eight additional holes targeting the Unionville Zone at its Maitland Gold Project in South Dakota. The analyst maintained a Speculative Buy rating and a target price of US$5.75 on the stock.

Dakota Gold announced several significant intersections from the Unionville Zone, including:

• Hole MA24C-046: 29.8 g/t Au over 1.1m from 5.1m, including 2.53 grams per tonne gold (g/t Au) over 4.5m from 370.2m
• Hole MA24C-049: 9.46 g/t Au over 9.9m from 8.9m, including 1.51 g/t Au over 19.1m from 35.2m
• Hole MA24C-050: 2.47 g/t Au over 5.1m from 0m, including 3.50 g/t Au over 6.1m from 52.9m

Bell views these results positively, stating, "This morning's results show that the Maitland target has multiple styles of mineralization, including shallow zones of gold above the deeper high grade."

The analyst noted that "Dakota believes that there is potential to encounter additional parallel structures in the area which could provide an opportunity to extend the strike length already more than 3,000m."

The Unionville Zone drilling is one of three ongoing programs being advanced by Dakota Gold, alongside deeper high-grade gold mineralization exploration in the JB Gold Zone and infill and step-out drilling at the Richmond Hill Gold Project to update the S-K 1300 resource estimate.

Dakota Gold's strategic focus on advancing multiple exploration programs simultaneously demonstrates the company's commitment to developing its South Dakota gold assets. The ongoing drill results are identified as a potential near-term catalyst for the stock.

Canaccord Genuity's valuation methodology for Dakota Gold is based on a multiple of the company's forward curve-derived operating net asset value (NAV). "Our target is predicated on a 1.0x multiple applied to our forward curve-derived operating NAV less net debt and other corporate adjustments," Bell explained.

With a Speculative Buy rating and a target price of US$5.75, representing a significant potential upside from the price at the time of the report of US$2.38, Canaccord Genuity sees Dakota Gold Corp. as an attractive investment opportunity in the gold exploration sector. 


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Important Disclosures:

  1. Dakota Gold Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000. 
  2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Dakota Gold Corp.
  3.  This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

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Disclosures for Canaccord Genuity Corp., Dakota Gold Corp., July 9, 2024

Canaccord Genuity is the global capital markets group of Canaccord Genuity Group Inc. (CF : TSX) The recommendations and opinions expressed in this research report accurately reflect the research analyst's personal, independent and objective views about any and all the companies and securities that are the subject of this report discussed herein.

Analyst Certification Each authoring analyst of Canaccord Genuity whose name appears on the front page of this research hereby certifies that (i) the recommendations and opinions expressed in this research accurately reflect the authoring analyst’s personal, independent and objective views about any and all of the designated investments or relevant issuers discussed herein that are within such authoring analyst’s coverage universe and (ii) no part of the authoring analyst’s compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by the authoring analyst in the research, and (iii) to the best of the authoring analyst’s knowledge, she/he is not in receipt of material non-public information about the issuer. Analysts employed outside the US are not registered as research analysts with FINRA. These analysts may not be associated persons of Canaccord Genuity LLC and therefore may not be subject to the FINRA Rule 2241 and NYSE Rule 472 restrictions on communications with a subject company, public appearances and trading securities held by a research analyst account.

Required Company-Specific Disclosures (as of date of this publication) Dakota Gold Corp. currently is, or in the past 12 months was, a client of Canaccord Genuity or its affiliated companies. During this period, Canaccord Genuity or its affiliated companies provided investment banking services to Dakota Gold Corp.. In the past 12 months, Canaccord Genuity or its affiliated companies have received compensation for Investment Banking services from Dakota Gold Corp. . Canaccord Genuity or one or more of its affiliated companies intend to seek or expect to receive compensation for Investment Banking services from Dakota Gold Corp. in the next three months.

Past performance In line with Article 44(4)(b), MiFID II Delegated Regulation, we disclose price performance for the preceding five years or the whole period for which the financial instrument has been offered or investment service provided where less than five years. Please Dakota Gold Corp. Flash Update Speculative Buy Target Price US$5.75 | 9 July 2024 Precious Metals - Developer/Explorer 4 note price history refers to actual past performance, and that past performance is not a reliable indicator of future price and/or performance. Online Disclosures Up-to-date disclosures may be obtained at the following website (provided as a hyperlink if this report is being read electronically) http://disclosures.canaccordgenuity.com/EN/Pages/default.aspx; or by sending a request to Canaccord Genuity Corp. Research, Attn: Disclosures, P.O. Box 10337 Pacific Centre, 2200-609 Granville Street, Vancouver, BC, Canada V7Y 1H2; or by sending a request by email to [email protected]. The reader may also obtain a copy of Canaccord Genuity’s policies and procedures regarding the dissemination of research by following the steps outlined above.

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Research Distribution Policy Canaccord Genuity research is posted on the Canaccord Genuity Research Portal and will be available simultaneously for access by all of Canaccord Genuity’s customers who are entitled to receive the firm's research. In addition research may be distributed by the firm’s sales and trading personnel via email, instant message or other electronic means. Customers entitled to receive research may also receive it via third party vendors. Until such time as research is made available to Canaccord Genuity’s customers as described above, Authoring Analysts will not discuss the contents of their research with Sales and Trading or Investment Banking employees without prior compliance consent. For further information about the proprietary model(s) associated with the covered issuer(s) in this research report, clients should contact their local sales representative. Short-Term Trade Ideas Dakota Gold Corp. Flash Update Speculative Buy Target Price US$5.75 | 9 July 2024 Precious Metals - Developer/Explorer 5 Research Analysts may, from time to time, discuss “short-term trade ideas” in research reports. A short-term trade idea offers a near-term view on how a security may trade, based on market and trading events or catalysts, and the resulting trading opportunity that may be available. Any such trading strategies are distinct from and do not affect the analysts' fundamental equity rating for such stocks. A short-term trade idea may differ from the price targets and recommendations in our published research reports that reflect the research analyst's views of the longer-term (i.e. one-year or greater) prospects of the subject company, as a result of the differing time horizons, methodologies and/or other factors. It is possible, for example, that a subject company's common equity that is considered a long-term ‘Hold' or 'Sell' might present a short-term buying opportunity as a result of temporary selling pressure in the market or for other reasons described in the research report; conversely, a subject company's stock rated a long-term 'Buy' or “Speculative Buy’ could be considered susceptible to a downward price correction, or other factors may exist that lead the research analyst to suggest a sale over the short-term. Short-term trade ideas are not ratings, nor are they part of any ratings system, and the firm does not intend, and does not undertake any obligation, to maintain or update short-term trade ideas. Short-term trade ideas are not suitable for all investors and are not tailored to individual investor circumstances and objectives, and investors should make their own independent decisions regarding any securities or strategies discussed herein. Please contact your salesperson for more information regarding Canaccord Genuity’s research.

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US clients wishing to effect transactions in any designated investment discussed should do so through a qualified salesperson of Canaccord Genuity LLC. Analysts employed outside the US, as specifically indicated elsewhere in this report, are not registered as research analysts with FINRA. These analysts may not be associated persons of Canaccord Genuity LLC and therefore may not be subject to the FINRA Rule 2241 and NYSE Rule 472 restrictions on communications with a subject company, public appearances and trading securities held by a research analyst account. For United Kingdom and European Residents: This research is distributed in the United Kingdom and elsewhere Europe, as third party research by Canaccord Genuity Limited, which is authorized and regulated by the Financial Conduct Authority. 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