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Stockholders' Equity
 3 Months Ended
Mar. 31, 2025
Stockholders' Equity Note [Abstract]  
Stockholders' Equity [Text Block]

NOTE 7 - Stockholders' Equity

Common Stock

As of March 31, 2025, a total of 516,190 units relating to the 2022 Stock Incentive Plan remained available for future grants.

On March 25, 2025, the Company announced a public offering (the "Offering") through which we raised gross proceeds of approximately $35.1 million by issuing 12,400,000 shares of our common stock at a price of $2.83 per share. As of March 31, 2025, the Company has incurred a total of approximately $2.4 million of share issuance costs pursuant to the Offering and recorded the share issuance costs as a reduction to proceeds in additional paid-in capital.

On October 21, 2022, we entered into an Equity Distribution Agreement with BMO Capital Markets Corp. and Canaccord Genuity LLC (collectively, the "Sales Agents"), to establish the ATM Program. On December 10, 2024, Dakota Gold entered into an Amended and Restated Equity Distribution Agreement with the Sales Agents. Under the terms of the Amended and Restated Equity Distribution Agreement, the Company may offer and sell shares of its common stock having an aggregate offering price of up to $50 million from time to time through any of the Sales Agents, acting as agent. During the three months ended March 31, 2025, we utilized the ATM to raise net proceeds of approximately $7.3 million by issuing 2,548,713 shares of common stock.

Stock-based Compensation

The Company recognized stock-based compensation expense as follows:

  Three Months Ended March 31,
    2025     2024  
    $     $  
RSUs   388,494     378,935  
PSUs   107,899     128,754  
Stock options   106,846     165,160  
Allocated to general and administrative expense   603,239     672,849  
             
RSUs   80,930     70,230  
PSUs   28,722     33,952  
Stock options   24,393     30,492  
Allocated to exploration expense   134,045     134,674  
Total stock-based compensation expense   737,284     807,523  

The Company granted the following stock-based compensation awards as follows:

    Three Months Ended March 31,  
    2025           2024  
    Number     Weighted
average
fair value
$		     Number     Weighted
average
fair value
$		  
RSUs   629,532     3.03     913,668     2.12  
PSUs   107,259     3.61     442,217     2.45  
Stock options   108,634     1.50     445,966     1.05  
Total equity awards granted   845,425           1,801,851        

As of March 31, 2025, unrecognized compensation expense and weighted-average vesting period for each of the Company's stock-based compensation awards were as follows:

    Unrecognized
Compensation
Expense		     Weighted-
average
Vesting
Period		  
    $     (Years)  
RSUs   2,723,584     1.75  
PSUs   859,836     1.51  
Stock options   403,361     1.55  

 

Warrants

The Company had warrants of 6,822,945 and 7,602,993 outstanding as of March 31, 2025 and December 31, 2024, respectively. Warrant exercises for the three-month periods ended March 31, 2025 and 2024 were 780,048 and nil, respectively. As of March 31, 2025, all 6,822,945 warrants had a remaining life of 0.96 years, an exercise price of $2.08 and will expire on March 15, 2026.