---
title: "Dakota Gold 2025 10-K: $0 Revenue, $(0.27) EPS on $(29.54) M Net Loss"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/280526962.md"
description: "Dakota Gold reported no revenue for 2025, with a net loss of $(29.54) million and a loss per share of $(0.27). The loss from operations was $(30.8) million, primarily due to exploration and administrative expenses. The company has cash and equivalents of $29.7 million and working capital of approximately $27.4 million. Drilling plans for 2026 include significant meters at Richmond Hill and Maitland, with project advancements moving towards feasibility studies. Equity raises in 2025 and 2026 have supported operational programs and project timelines."
datetime: "2026-03-25T20:45:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/280526962.md)
  - [en](https://longbridge.com/en/news/280526962.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/280526962.md)
---

# Dakota Gold 2025 10-K: $0 Revenue, $(0.27) EPS on $(29.54) M Net Loss

Dakota Gold reported zero operating revenue for 2025 and recorded a net loss attributable to continuing operations of $(29.54) million, or a basic and diluted loss per share of $(0.27), reflecting its exploration-stage status and continued investment in project advancement. Loss from operations totaled $(30.8) million, driven by exploration and general administrative expenses. Cash and cash equivalents of $29.7 million and approximately $27.4 million of working capital, supplemented by equity offerings, supported the company's near-term liquidity and drilling programs.

**Financial Highlights**

-   **Revenue**: $0 (no operating revenues for 2025)
-   **Operating Income**: Loss from operations of $(30.8) million
-   **Net Income**: Net loss and comprehensive loss of $(29.54) million for 2025 (improved from $(33.88) million in 2024)
-   **Net Income Per Share**: Basic and diluted loss per share of $(0.27) for 2025 (weighted average shares 108.895 million)
-   **Cash / Working Capital**: Cash and cash equivalents of $29.7 million; working capital approximately $27.4 million, supported by equity capital raises in 2025 and 2026

**Business Highlights**

-   **Drilling & Exploration Momentum**: Since 2022 the company completed 473 holes totaling 493,472 feet; 2026 drilling plans include roughly 15,500 meters at Richmond Hill and 5,600 meters at Maitland.
-   **Project Advancement**: Richmond Hill is moving from Initial Assessment toward a Pre-Feasibility Study in the second half of 2026, with a feasibility study targeted for 2027.
-   **Regulatory and Technical Milestones**: Maiden S-K 1300 Initial Assessment filed for Richmond Hill in April 2024 and a subsequent IA filed in February 2025; an IACF announced in July 2025 that supports technical de-risking efforts.
-   **Operational Programs Enabled by Capital Raises**: Equity financings in March 2025 and additional offerings in 2026 funded expanded drilling, metallurgical programs, and permitting activities to advance project timelines.

Original SEC Filing: Dakota Gold Corp. \[ DC \] - 10-K - Mar. 25, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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