History
Dakota Gold formed in 2022 by merger to consolidate South Dakota's Homestake district, won Orion's backing, then changed CEO in 2024 and faced a 2026 delisting filing.
2022: A merger to build a gold company
Dakota Gold Corp. began as a combination. On February 1, 2022, Dakota Territory Resource Corp. agreed to merge with JR Resources Corp., which would rename itself Dakota Gold and become the parent. Dakota Territory holders were to receive one new share for each share held, about 49% of the combined company, and the stock was to list on NYSE American as "DGC".
The merger closed on March 31, 2022. Dakota Gold issued about 35.2 million shares to former Dakota Territory holders, leaving roughly 70.85 million shares outstanding. A new board was installed, with mining financier Dr. Robert Quartermain, founder of Pretium Resources and former long-time chief executive of Silver Standard/SSR Mining, in a leading role. The exchange cleared the shares to begin trading in April, and again in August.
The company's aim was to consolidate the historic Homestake gold district in South Dakota, using option agreements (rights to buy, held for a fee) with Barrick subsidiaries.
2023-2026: Orion, a new chief executive and a delisting
In October 2023 Dakota Gold brought in Orion (OMF Fund IV), a mine-finance specialist. Orion bought $17 million of stock, 6.67 million shares at $2.55, and made a non-binding proposal to provide up to $300 million toward construction financing. It also received a right to match the terms of future financings through 2033.
Leadership changed on October 30, 2024. President and CEO Jonathan Awde resigned, with a separation package of up to $620,000. Quartermain became interim CEO without cash pay, Stephen O'Rourke became Managing Director, and Amy Koenig became independent Lead Director while the board searched for a permanent chief executive.
In February 2025 the company published an updated initial assessment for its Richmond Hill gold project, and extended its Barrick option agreements to the end of 2028. In November 2025 the company appointed Deloitte & Touche as its auditor.
On March 16, 2026, the exchange filed to remove a class of Dakota Gold's securities from listing. The company kept filing reports afterward.
Written from the 7 story beats below (2022 to 16 Mar 2026), which come from the company's own announcements and filings.