Dakota Gold (DC) 10-Q 10 May 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2024	May 10, 2024
Document Information [Line Items]
Registrant Name	Dakota Gold Corp.
Registrant CIK	0001852353
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-41349
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	85-3475290
Entity Address, Address Line One	106 Glendale Drive
Entity Address, City or Town	Suite A, Lead
Entity Address, State or Province	SD
Entity Address, Postal Zip Code	57754
City Area Code	605
Local Phone Number	717-2540
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		87,708,275
Common Stock [Member]
Document Information [Line Items]
Title of 12(g) Security	Common stock, par value $0.001 per share
Trading Symbol	DC
Security Exchange Name	NYSE
Warrants, each warrant exercisable for one share of the Registrant's common stock at an exercise price of $2.08 [Member]
Document Information [Line Items]
Title of 12(g) Security	Warrants, each warrant exercisable for one share of the Registrant's common stock at an exercise price of $2.08
Trading Symbol	DC.WS
Security Exchange Name	NYSE

Condensed Consolidated Interim

Condensed Consolidated Interim Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 15,107,957	$ 25,548,373
Prepaid expenses and other current assets	971,266	676,020
Total current assets	16,079,223	26,224,393
Non-current assets
Mineral rights and properties	82,238,845	79,344,304
Property and equipment, net	2,281,311	2,261,979
Other assets	445,450	371,864
Total assets	101,044,829	108,202,540
Current liabilities
Accounts payable and accrued liabilities	3,725,650	4,351,145
Lease liabilities - current	132,956	135,097
Total current liabilities	3,858,606	4,486,242
Non-current liabilities
Lease liabilities	60,741	94,515
Deferred tax liability	63,999	85,332
Total liabilities	3,983,346	4,666,089
Commitments and contingencies
Stockholders' equity
Common stock, par value $0.001; 300,000,000 authorized, 87,703,942 and 86,740,272 shares outstanding, respectively	87,704	86,740
Additional paid-in capital	148,233,136	146,114,487
Accumulated deficit	(51,259,357)	(42,664,776)
Total stockholders' equity	97,061,483	103,536,451
Total liabilities and stockholders' equity	$ 101,044,829	$ 108,202,540

Condensed Consolidated Interi_2

Condensed Consolidated Interim Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	87,703,942	86,740,272
Common stock, shares outstanding	87,703,942	86,740,272

Condensed Consolidated Interi_3

Condensed Consolidated Interim Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating expenses
Exploration expenses	$ 6,545,658	$ 6,837,759
General and administrative expenses	2,247,899	2,737,421
Loss from operations	(8,793,557)	(9,575,180)
Other income (expenses)
Foreign exchange (loss)	(4,012)	(19,276)
Interest (expense)	(37,440)	0
Interest income	224,043	53,912
Total other income	182,591	34,636
Loss before income taxes	(8,610,966)	(9,540,544)
Income tax (expense) - current	(4,948)	0
Income tax benefit - deferred	21,333	274,513
Net loss and comprehensive loss	$ (8,594,581)	$ (9,266,031)
Basic loss per share	$ (0.1)	$ (0.13)
Diluted loss per share	$ (0.1)	$ (0.13)
Weighted average number of basic shares of common stock outstanding	87,402,924	73,744,247
Weighted average number of diluted shares of common stock outstanding	87,402,924	73,744,247

Condensed Consolidated Interi_4

Condensed Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating activities
Net loss	$ (8,594,581)	$ (9,266,031)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	67,606	60,740
Stock-based compensation expense	807,523	1,292,734
Interest expense	37,440	0
Deferred income tax benefit	(21,333)	(274,513)
Changes in assets and liabilities:
Prepaid expenses and other current assets	(295,246)	(242,361)
Accounts payable and accrued liabilities	(2,174,951)	(32,394)
Net cash used in operating activities	(10,173,542)	(8,461,825)
Investing activities
Purchases of property and equipment	(122,853)	(44,633)
Purchases of mineral rights and properties	(30,778)	(20,000)
Purchases of other assets	(20,743)	(7,389)
Net cash used in investing activities	(174,374)	(72,022)
Financing activities
Proceeds from sale of common stock on at-the market ("ATM") program, net of issuance costs	(92,500)	4,902,520
Proceeds from exercise of stock options	0	12,000
Proceeds from exercise of warrants	0	18,757
Payments of income taxes on restricted stock units ("RSUs") and performance stock units ("PSUs")	0	(38,000)
Net cash (used in) provided by financing activities	(92,500)	4,895,277
Net change in cash and cash equivalents	(10,440,416)	(3,638,570)
Cash and cash equivalents, beginning of period	25,548,373	23,911,722
Cash and cash equivalents, end of period	15,107,957	20,273,152
Non-cash investing and financing activities
Amortization of deferred ATM offering costs offset against additional paid-in capital	(39,657)	(39,646)
Common stock issued for purchase of mineral properties	$ 1,351,747	$ 0

Condensed Consolidated Interi_5

Condensed Consolidated Interim Statements of Changes In Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Beginning Balance at Dec. 31, 2022	$ 73,341	$ 107,317,974	$ (6,215,577)	$ 101,175,738
Beginning Balance (in shares) at Dec. 31, 2022	73,341,001
Common stock issued for ATM program, net of amortized issuance costs	$ 1,887	4,860,987		4,862,874
Common stock issued for ATM program, net of amortized issuance costs (in shares)	1,886,800
Common stock issued for PSUs	$ 19	(19)
Common stock issued for PSUs (in shares)	18,609
Payments of income taxes on PSUs		(38,000)		(38,000)
Common stock issued for exercise of options	$ 37	11,963		$ 12,000
Common stock issued for exercise of options (in shares)	37,500			37,500
Common stock issued for exercise of warrants	$ 9	18,748		$ 18,757
Common stock issued for exercise of warrants (in shares)	9,018
Stock-based compensation expense		1,292,734		1,292,734
Net loss			(9,266,031)	(9,266,031)
Ending Balance at Mar. 31, 2023	$ 75,293	113,464,387	(15,481,608)	98,058,072
Ending Balance (Shares) at Mar. 31, 2023	75,292,928
Beginning Balance at Dec. 31, 2023	$ 86,740	146,114,487	(42,664,776)	$ 103,536,451
Beginning Balance (in shares) at Dec. 31, 2023	86,740,272			86,740,272
Common stock issued for ATM program, net of amortized issuance costs		(39,657)		$ (39,657)
Common stock issued for purchase of mineral property	$ 641	1,351,106		1,351,747
Common stock issued for purchase of mineral property (in shares)	640,638
Common stock issued for RSUs and PSUs	$ 323	(323)
Common stock issued for RSUs and PSUs (in shares)	323,032
Common stock issued for PSUs (in shares)	115,517
Stock-based compensation expense		807,523		807,523
Net loss			(8,594,581)	(8,594,581)
Ending Balance at Mar. 31, 2024	$ 87,704	$ 148,233,136	$ (51,259,357)	$ 97,061,483
Ending Balance (Shares) at Mar. 31, 2024	87,703,942			87,703,942

Organization and Nature of Busi

Organization and Nature of Business	3 Months Ended
	Mar. 31, 2024
Organization And Nature Of Business [Abstract]
Organization and Nature of Business [Text Block]	NOTE 1 - Organization and Nature of Business Organization Dakota Gold Corp., ("we," "us", "our," "the Company," "Dakota Gold" or "DGC") was incorporated as JR Resources Corp. ("JR") on November 15, 2017 under the Business Corporations Act (British Columbia, Canada). The Company focuses its business efforts on the acquisition, exploration, and development of mineral properties in the United States of America ("U.S."). On May 22, 2020, the Company completed the domestication process and changed its registration from the Province of British Columbia, Canada to the State of Nevada. On March 31, 2022, the Company completed a merger with Dakota Territory Resource Corp., a Nevada corporation ("Dakota Territory" or "DTRC"), pursuant to which Dakota Territory stockholders, other than Dakota Gold, were entitled to receive one share of Dakota Gold common stock for each share of Dakota Territory common stock (the "DTRC Merger"). As a result of the DTRC Merger, Dakota Gold delivered 35,209,316 shares of the Company's common stock to former holders of Dakota Territory common stock. The Company currently operates in one segment, mineral exploration, in the United States. Liquidity The Company's mineral properties are at the exploration stage and are without declared mineral reserves or mineral resources, except for the mineral resource estimate contained in the Company's inaugural technical report summary for the Richmond Hill property, which was prepared in accordance with Subpart 1300 of Regulation S-K, promulgated by the Securities and Exchange Commission ("S-K 1300"), and which was completed in April 2024. Therefore, our mineral properties have not generated revenues. The business of exploring for minerals involves a high degree of risk. Few properties that are explored are ultimately developed into producing mines (see Risk Factors in the Company's 10-K for the year ended December 31, 2023). Major expenditures are required to establish ore reserves, to develop metallurgical processes, to acquire construction and operating permits, and to construct mining and processing facilities. The amounts shown as mineral rights and properties represent acquisition and holding costs and do not necessarily represent present or future recoverable values. The recoverability of the amounts shown for mineral rights and properties is dependent upon the Company obtaining the necessary financing to complete the necessary exploration of the properties, the discovery of economically recoverable reserves, development of the properties and future profitable operations or through sale of the assets. These condensed consolidated interim financial statements for the three months ended March 31, 2024 and 2023 ("financial statements") have been prepared on the assumption that the Company and its subsidiaries will continue as a going concern, meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities in the ordinary course of operations. Different bases of measurement may be appropriate if the Company is not expected to continue operations for the foreseeable future. As of March 31, 2024, the Company had not advanced its properties to commercial production and is not able to finance day-to-day activities through operations. The Company's management believes its cash balance of approximately $15.11 million as of March 31, 2024, the Company's working capital of approximately $12.22 million, the anticipated ability to utilize the ATM program during the year and the ability to scale down the exploration program alleviate the doubt as to the Company's ability to continue as a going concern for 12 months beyond the date of these financial statements.

Summary of Accounting Policies

Summary of Accounting Policies	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Summary of Accounting Policies [Text Block]	NOTE 2 - Summary of Accounting Policies Basis of Presentation The interim Condensed Consolidated Financial Statements ("interim statements") of Dakota Gold Corp. have been prepared, without audit, in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and the rules of the U.S. Securities and Exchange Commission ("SEC") for interim statements, and should be read in conjunction with the Company's audited financial statements and the notes thereto for the year ended December 31, 2023 included in its Annual Report on Form 10-K, as filed with the SEC on March 28, 2024. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent year ended December 31, 2023, as reported in the Company's Annual Report on Form 10-K, have been omitted. The condensed consolidated balance sheet as of December 31, 2023 was derived from the audited financial statements of the Company and in accordance with the instructions to Form 10-Q, certain information and footnote disclosures required by GAAP have been condensed or omitted. Basis of Consolidation The interim financial statements for the three months ended March 31, 2024 and 2023 include the accounts of the Company and the following 100%-owned subsidiaries: DTRC, LLC (incorporated in the U.S.), JR Resources (Canada) Services Corp. (incorporated in Canada), Dakota Gold Holdings LLC (incorporated in the U.S.) and Dakota Gold (Canada) Services Corp. (incorporated in Canada). All intercompany accounts and transactions between the Company and its subsidiaries have been eliminated upon consolidation.

Mineral Rights and Properties

Mineral Rights and Properties	3 Months Ended
	Mar. 31, 2024
Mineral Industries Disclosures [Abstract]
Mineral Rights and Properties [Text Block]	NOTE 3 - Mineral Rights and Properties Dakota Gold has 100% ownership of the interests in the Blind Gold, City Creek, Cambrian Unconformity, Tinton, West Corridor, Ragged Top, Poorman Anticline, Maitland, and South Lead / Whistler Gulch Properties. In addition, we have 100% ownership in the Barrick Option, and the Richmond Hill Properties upon exercise of their underlying option payments. All are located in the heart of the Homestake District. The individual claims, properties, options, and leases are aggregated into a single unit mining property, hereinafter referred to as the "Black Hills Property." On April 30, 2024, the Company published a mineral resource estimate under S-K 1300 at its Richmond Hill property. The full text of the technical report summary containing the mineral resource estimate is included in the Form 8-K filed by the Company on April 30, 2024. On January 12, 2024 (the "closing date"), the Company closed an agreement to purchase various databases, mining permits and real properties in Lawrence County, South Dakota from VMC, LLC ("VMC") for total consideration of $3.3 million, as well as a contingent payment of $2.1 million upon the first of either of the following “triggering events: (i) the first commercial gold production or (ii) on a change of control, if the Company still owns the real property. The Company's consideration to be paid to VMC consisted of a cash deposit of $1,000 and the remainder of the initial payment of $3,299,000 (the "balance payment") to be paid in two tranches: 1. 2. The VWAP of the Company's shares of common stock for the 20-day period immediately prior to the closing date was $2.57 per share. On the closing date, the Company issued a total of 640,638 shares of its common stock, valued at $2.11 per share, the closing price of the Company's stock on the day before the closing date of the agreement, and paid closing costs of $9,778. The capitalized value of the first tranche of the balance payment totaled $1,361,524. The Company has capitalized the present value of the second tranche to mineral properties, and included this amount in accounts payable at March 31, 2024. The amount initially recorded on the closing date related to the second payment due was $1,512,017, representing the present value of the balance payment of $1,649,500, discounted for the nine-month payment term at an interest rate of 11.66%. The second payment amount initially recorded on January 12, 2024 will accrete through the recognition of interest expense until it reaches $1,649,500 on October 12, 2024. If the Company elects to issue stock as any or all of its second tranche consideration, the difference between the liability at that time of settlement and the fair value of the shares issued to settle the liability will be recorded as a gain or loss in the statement of operations. As of March 31, 2024 and December 31, 2023, the carrying value of Company's mineral properties totaled $82,238,845 and $79,344,304, respectively. As of March 31, 2024, the Company is in the exploration stage and has not commenced amortization of its properties.

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment [Text Block]	NOTE 4 - Property and Equipment As of March 31, 2024 and December 31, 2023, the Company's property and equipment consists of the following: Estimated March 31, 2024 December 31, Years $ $ Land 418,884 418,884 Building 39 1,409,057 1,366,682 Furniture and equipment 3 to 5 955,875 875,397 Right-of-use ("ROU") assets 2 to 5 193,696 229,611 2,977,512 2,890,574 Less accumulated depreciation (696,201 ) (628,595 ) Property and equipment, net 2,281,311 2,261,979 Depreciation expense for the three months ended March 31, 2024 and 2023 was $67,606 and $60,740, respectively, and is included in general and administrative expenses. ROU assets are amortized on a straight-line basis for the remaining lives of their respective lease terms. At March 31, 2024, the Company has three operating lease agreements for office and building space in Vancouver, British Columbia, Canada and Rapid City, South Dakota. The lease agreements do not contain extension options. For measurement of the original lease liability and ROU asset, the Company assumed a discount rate of 11.66% based on the Company's estimated incremental borrowing rate. During the three months ended March 31, 2024, the Company recognized approximately $33,000 in rent expense which is included in general and administrative and exploration expense on the condensed consolidated interim statements of operations. The weighted average remaining lease term for operating leases as of March 31, 2024 was 1.5 years. At March 31, 2024, the remaining undiscounted lease payments under these lease agreements totaled approximately $247,000.

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	3 Months Ended
	Mar. 31, 2024
Accounts Payable and Accrued Liabilities [Abstract]
Accounts Payable and Accrued Liabilities [Text Block]	NOTE 5 - Accounts Payable and Accrued Liabilities As of March 31, 2024 and December 31, 2023, the Company's accounts payable and accrued liabilities consists of the following: March 31, 2024 December 31, $ $ Trade payables 1,386,278 2,705,316 Accrued bonuses 327,249 1,326,986 Other 2,012,123 318,843 3,725,650 4,351,145 Included in "Other" at March 31, 2024 is $1,512,017 due to be paid later in 2024 for the purchase of a mineral property.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
Stockholders' Equity [Text Block]	NOTE 6 - Stockholders' Equity Common Stock The holders of common stock are entitled to one vote per share with respect to all matters required by law to be submitted to stockholders. The holders of common stock have the sole right to vote. The common stock does not have any cumulative voting, pre-emptive, subscription or conversion rights. Election of directors requires the affirmative vote of a plurality of shares represented at a meeting, and other general stockholder action (other than an amendment to our articles of incorporation) requires the affirmative vote of a majority of shares represented at a meeting in which a quorum is represented. The outstanding shares of common stock are validly issued, fully paid and non-assessable. On May 18, 2023, pursuant to the authorization and approval provided by the stockholders at the Company's Annual General Meeting, the Company increased its authorized shares of common stock to 300,000,000 shares. Share Issuances During the Three Months Ended March 31, 2024 The Company issued: 640,638 shares of common stock to VMC in connection with the first tranche of a payment for the purchase of a mineral property (Note 3); 115,517 shares of common stock to employees of the Company for the settlement of PSUs; and 207,515 shares of common stock to employees and directors of the Company for the settlement of RSUs. There was no ATM stock issued in the three months ended March 31, 2024. Share Issuances During the Three Months Ended March 31, 2023 During the three months ended March 31, 2023, the Company utilized its ATM program to raise net proceeds of approximately $5 million by issuing 1,886,800 shares of common stock. In addition, the Company issued: 37,500 shares of common stock pursuant to an exercise of stock options for proceeds of $12,000; 9,018 shares of common stock pursuant to an exercise of warrants for proceeds of $18,757; and 18,609 shares of common stock to employees of the Company for the settlement of PSUs which vested on March 1, 2023. Stock-based Compensation The Company recognized stock-based compensation expense as follows: Three Months Ended March 31, 2024 March 31, $ $ RSUs 449,165 491,523 PSUs 162,706 153,563 Stock options 195,652 647,648 Total stock-based compensation expense 807,523 1,292,734 The Company recognized stock-based compensation related to the issuance of stock options totaling $807,523 and $1,292,734 during the three months ended March 31, 2024 and 2023, respectively, of which $134,675 and $201,946 was allocated to exploration expenses, respectively, and $672,848 and $1,090,788 was allocated to administrative expenses, respectively. We granted the following stock-based compensation awards as follows: Three Months Ended March 31, 2024 March 31, 2023 Number Weighted average fair value $ Number Weighted RSUs 913,668 2.12 622,567 2.81 PSUs 442,217 2.45 329,182 3.72 Stock options 445,966 1.05 333,588 1.39 Total equity awards granted 1,801,851 1,285,337 As of March 31, 2024, unrecognized compensation expense and weighted-average vesting period for each of our stock-based compensation awards were as follows: Unrecognized Compensation Expense Weighted- $ (Years) RSUs 2,743,338 1.75 PSUs 1,483,804 1.65 Stock options 861,494 1.61

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies [Text Block]	NOTE 7 - Commitments and Contingencies The Company may become party to various legal actions that arise in the ordinary course of its business. The Company is subject to audit by tax and other authorities for varying periods in various federal, state and local jurisdictions, and disputes may arise during the course of these audits. It is impossible to determine the ultimate liabilities that the Company may incur resulting from any of these potential lawsuits, claims, proceedings, audits, commitments, contingencies and related matters or the timing of these liabilities, if any. If these matters were to ultimately be resolved unfavorably, it is possible that such an outcome could have a material adverse effect upon the Company's consolidated financial position, results of operations, or liquidity. The Company does not, however, anticipate such an outcome and it believes the ultimate resolution of these matters will not have a material adverse effect on the Company's consolidated financial position, results of operations, or liquidity.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes [Text Block]	NOTE 8 - Income Taxes A summary of the reconciliation of the income tax benefit based on the statutory federal income tax rate of 21% to the income tax benefit reported in these interim financial statements for the three months ended March 31, 2024 and 2023 is as follows: Three months ended March 31, 2024 March 31, 2023 Income tax (benefit) computed at federal statutory rates $ (1,800,441 ) $ (1,891,802 ) Change in valuation allowance 1,754,342 1,617,289 Non-deductible stock-based compensation 29,197 - Other 517 - Total income tax (benefit) $ (16,385 ) $ (274,513 ) The effective tax rate for the three months ended March 31, 2024 was 0.19%. The effective tax rate for the three months ended March 31, 2024 was less than the expected statutory rate as the Company does not expect to realize a benefit from a portion of the losses incurred.

Summary of Accounting Policies

Summary of Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation [Policy Text Block]	Basis of Presentation The interim Condensed Consolidated Financial Statements ("interim statements") of Dakota Gold Corp. have been prepared, without audit, in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and the rules of the U.S. Securities and Exchange Commission ("SEC") for interim statements, and should be read in conjunction with the Company's audited financial statements and the notes thereto for the year ended December 31, 2023 included in its Annual Report on Form 10-K, as filed with the SEC on March 28, 2024. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent year ended December 31, 2023, as reported in the Company's Annual Report on Form 10-K, have been omitted. The condensed consolidated balance sheet as of December 31, 2023 was derived from the audited financial statements of the Company and in accordance with the instructions to Form 10-Q, certain information and footnote disclosures required by GAAP have been condensed or omitted.
Basis of Consolidation [Policy Text Block]	Basis of Consolidation The interim financial statements for the three months ended March 31, 2024 and 2023 include the accounts of the Company and the following 100%-owned subsidiaries: DTRC, LLC (incorporated in the U.S.), JR Resources (Canada) Services Corp. (incorporated in Canada), Dakota Gold Holdings LLC (incorporated in the U.S.) and Dakota Gold (Canada) Services Corp. (incorporated in Canada). All intercompany accounts and transactions between the Company and its subsidiaries have been eliminated upon consolidation.

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of property and equipment [Table Text Block]	Estimated March 31, 2024 December 31, Years $ $ Land 418,884 418,884 Building 39 1,409,057 1,366,682 Furniture and equipment 3 to 5 955,875 875,397 Right-of-use ("ROU") assets 2 to 5 193,696 229,611 2,977,512 2,890,574 Less accumulated depreciation (696,201 ) (628,595 ) Property and equipment, net 2,281,311 2,261,979

Accounts Payable and Accrued _2

Accounts Payable and Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
Accounts Payable and Accrued Liabilities [Abstract]
Schedule of accounts payable and accrued liabilities [Table Text Block]	March 31, 2024 December 31, $ $ Trade payables 1,386,278 2,705,316 Accrued bonuses 327,249 1,326,986 Other 2,012,123 318,843 3,725,650 4,351,145

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Schedule of stock-based compensation expense [Table Text Block]	Three Months Ended March 31, 2024 March 31, $ $ RSUs 449,165 491,523 PSUs 162,706 153,563 Stock options 195,652 647,648 Total stock-based compensation expense 807,523 1,292,734
Schedule of RSU and PSU awards outstanding and activity [Table Text Block]	Three Months Ended March 31, 2024 March 31, 2023 Number Weighted average fair value $ Number Weighted RSUs 913,668 2.12 622,567 2.81 PSUs 442,217 2.45 329,182 3.72 Stock options 445,966 1.05 333,588 1.39 Total equity awards granted 1,801,851 1,285,337
Schedule of unrecognized compensation expense and weighted-average vesting period for stock-based compensation awards [Table Text Block]	Unrecognized Compensation Expense Weighted- $ (Years) RSUs 2,743,338 1.75 PSUs 1,483,804 1.65 Stock options 861,494 1.61

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of components of income tax expense (benefit) [Table Text Block]	Three months ended March 31, 2024 March 31, 2023 Income tax (benefit) computed at federal statutory rates $ (1,800,441 ) $ (1,891,802 ) Change in valuation allowance 1,754,342 1,617,289 Non-deductible stock-based compensation 29,197 - Other 517 - Total income tax (benefit) $ (16,385 ) $ (274,513 )

Organization and Nature of Bu_2

Organization and Nature of Business (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Entity incorporation, date of incorporation	Nov. 15, 2017
Stockholders' Equity Note, Stock Split	On March 31, 2022, the Company completed a merger with Dakota Territory Resource Corp., a Nevada corporation ("Dakota Territory" or "DTRC"), pursuant to which Dakota Territory stockholders, other than Dakota Gold, were entitled to receive one share of Dakota Gold common stock for each share of Dakota Territory common stock (the "DTRC Merger").
Common Stock	$ 87,704	$ 86,740
Cash	15,110,000
Working capital	12,220,000
DTRC's former stockholders [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Common Stock	$ 35,209,316

Summary of Accounting Policie_2

Summary of Accounting Policies (Narrative) (Details)	Mar. 31, 2024	Mar. 31, 2023
Dakota Territory Resource Corp [Member]
Accounting Policies [Line Items]
Percentage owned	100%	100%

Mineral Rights and Properties (

Mineral Rights and Properties (Narrative) (Details) - USD ($)		3 Months Ended	9 Months Ended
	Jan. 12, 2024	Mar. 31, 2024	Oct. 12, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Cash deposit		$ 15,110,000
Mineral properties		$ 82,238,845		$ 79,344,304
VMC LLC [Member] | Property Purchase Agreement [Member]
Property, Plant and Equipment [Line Items]
Total consideration for acquisition of various databases, mining permits and real properties	$ 3,300,000
Cash deposit	1,000
Remainder of initial payment	$ 3,299,000
Issued price per share	$ 2.57
Shares issued upon acquisition	640,638	640,638
Issue of common stock, price per share	$ 2.11
Value of shares issued of closing date	$ 9,778
Present Value Of Cash Payment		$ 1,512,017
Cash payment	$ 1,361,524	$ 1,649,500	$ 1,649,500
Discount Rate On Cash Payment			11.66%
Mining Properties and Mineral Rights [Member] | Blind Gold, City Creek, Cambrian Unconformity, Tinton, West Corridor, Ragged Top, Poorman Anticline, Maitland, And South Lead / Whistler Gulch [Member] | Dakota Gold [Member]
Property, Plant and Equipment [Line Items]
Percentage of voting interests acquired		100%
Mining Properties and Mineral Rights [Member] | Barrick Option And Richmond Hill Option [Member] | Dakota Gold [Member]
Property, Plant and Equipment [Line Items]
Percentage of voting interests acquired		100%

Property and Equipment (Narrati

Property and Equipment (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 67,606	$ 60,740
Lease liability and ROU asset discount rate	11.66%
Rent expense	$ 33,000
Weighted average remaining lease term for operating leases	1 year 6 months
Remaining undiscounted lease payments	$ 247,000

Property and Equipment - Schedu

Property and Equipment - Schedule of property and equipment (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 2,977,512	$ 2,890,574
Less accumulated depreciation	(696,201)	(628,595)
Property and equipment, net	2,281,311	2,261,979
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 418,884	418,884
Building [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life (Years)	39 years
Property, plant and equipment, gross	$ 1,409,057	1,366,682
Furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 955,875	875,397
Furniture and equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life (Years)	3 years
Furniture and equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life (Years)	5 years
Right-of-use ("ROU") assets [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 193,696	$ 229,611
Right-of-use ("ROU") assets [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life (Years)	2 years
Right-of-use ("ROU") assets [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life (Years)	5 years

Accounts Payable and Accrued _3

Accounts Payable and Accrued Liabilities (Narrative) (Details)	Mar. 31, 2024 USD ($)
Accounts Payable and Accrued Liabilities [Abstract]
Other payable for purchase of mineral property	$ 1,512,017

Accounts Payable and Accrued _4

Accounts Payable and Accrued Liabilities - Schedule of accounts payable and accrued liabilities (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Accounts Payable and Accrued Liabilities [Abstract]
Trade payables	$ 1,386,278	$ 2,705,316
Accrued bonuses	327,249	1,326,986
Other	2,012,123	318,843
Accounts payable and accrued liabilities	$ 3,725,650	$ 4,351,145

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($)		3 Months Ended
	Jan. 12, 2024	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	May 18, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, shares authorized		300,000,000		300,000,000	300,000,000
Common stock issued for exercise of options (in shares)			37,500
Proceeds from exercise of warrants		$ 0	$ 18,757
Net proceeds from sale of common stock on at-the market ("ATM") program		(92,500)	4,902,520
Total stock-based compensation expense		807,523	1,292,734
Proceeds from stock options exercised		$ 0	$ 12,000
VMC LLC [Member] | Property Purchase Agreement [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares issued upon acquisition	640,638	640,638
Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock issued for PSUs (in shares)		115,517	18,609
Common stock issued for RSUs (in shares)		207,515
Common stock issued for exercise of options (in shares)			37,500
Common stock issued for exercise of warrants (Shares)			9,018
ATM Program [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of common shares issued (Shares)			1,886,800
Net proceeds from sale of common stock on at-the market ("ATM") program			$ 5,000,000
Exploration Costs [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation		$ 134,675	201,946
General and Administrative Expense [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation		$ 672,848	$ 1,090,788

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of stock-based compensation (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	$ 807,523	$ 1,292,734
RSUs [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	449,165	491,523
PSUs [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	162,706	153,563
Stock options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	$ 195,652	$ 647,648

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of RSU and PSU awards activity (Details) - $ / shares	Mar. 31, 2024	Mar. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of equity awards	1,801,851	1,285,337
RSUs [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of equity awards	913,668	622,567
Weighted-average fair value per award	$ 2.12	$ 2.81
PSUs [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of equity awards	442,217	329,182
Weighted-average fair value per award	$ 2.45	$ 3.72
Stock options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of stock options	445,966	333,588
Weighted-average fair value per stock option	$ 1.05	$ 1.39

Stockholders' Equity - Schedu_3

Stockholders' Equity - Schedule of unrecognized compensation expense and weighted-average vesting period for stock-based compensation awards (Details)	3 Months Ended
	Mar. 31, 2024 USD ($)
RSUs [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 2,743,338
Weighted-average Vesting Period (years)	1 year 9 months
PSUs [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 1,483,804
Weighted-average Vesting Period (years)	1 year 7 months 24 days
Stock options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 861,494
Weighted-average Vesting Period (years)	1 year 7 months 9 days

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Period Of Operating Loss Carry Forward [Line Items]
Income tax rate	21%	21%
Effective tax rate	0.19%

Income Taxes - Schedule of comp

Income Taxes - Schedule of components of income tax expense (benefit) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income tax (benefit) computed at federal statutory rates	$ (1,800,441)	$ (1,891,802)
Change in valuation allowance	1,754,342	1,617,289
Non-deductible stock-based compensation	29,197	0
Other	517	0
Total income tax (benefit)	$ (16,385)	$ (274,513)