Dakota Gold (NYSE: $DC) is a gold exploration and development company founded in 2017 that focuses on high-potential gold assets in the US.
Stock Performance
The company, which is based in Lead, South Dakota, has a market cap of $217.30 million and a 10-day average trading volume of 151.41k shares.
The stock is currently showing strong technical indicators, which suggest the stock could have a massive upside potential.
DC is testing support at $2.32, which could give a positive reaction. Its 10-Day exponential moving average of $2.25 signals a buy, while the 50-day simple moving average of $2.30 also signals a buy. Furthermore, the 20- and 50-day exponential moving averages of $2.22 and $2.29, respectively, signal that the stock is a buy.
With a current RSI of 54.72, the stock is in neutral territory, which means it is avoiding overbought territory while still signaling possible upward movement. Consequently, there are promising entry points.
Dakota Gold Corp. intercepts 2.85 grams/tonne of Gold over 13.7 meters of Tertiary epithermal mineralization in the Unionville Zone.
Dakota Gold Recent Finds
On August 22, 2024, Dakota Gold announced that its exploration work at the Maitland Gold Project in South Dakota had delivered great results. The company announced that one of its drill holes had intersected 2.85 grams/tonne of gold over 13.7 meters and 1.44 grams/tonne of gold at 23 meters.
Another drilling hole intersected multiple sections of gold mineralization, including 4.34 gram/tonne over 7 meters of Tertiary epithermal mineralization. Both drill holes are located at shallow depths in the central portion of the Unionville Zone.
To date, its northernmost drill hole within the zone has intersected 4.73 grams/tonne of gold over 3.6 meters deeper, with higher-grade Tertiary epithermal mineralization. The drill hole extends mineralization around 200 meters past the previously reported step-out drill hole.
Table of the drill results:
Comments From The VP
Commenting on the results, James Berry, Dakota Gold, VP of Exploration, said, “These results continue to confirm our belief that the Tertiary epithermal system at Maitland is comprised of multiple structures across a broad area extending over several kilometers. “
He added that each test drill hole at the site had a high probability of encountering Mine-Style and Tertiary epithermal mineralization. According to the VP, this probability “provides excellent optionality and value in our exploration programs.”
Is Dakota Gold A Buy?
Gold stocks like Dakota Gold (DC) are valuable asset allocation options, especially during times of economic uncertainty and elevated inflation. Gold stocks are a great hedge against inflation, and gold is often viewed as a safe-haven during periods of uncertainty.
With AI stocks delivering varied results and bitcoin stocks being exceptionally volatile, gold stocks are firmly in the buy zone. The price of gold reached new highs for most of 2024.
Rising demand from central banks and the looming Federal Reserve rate cuts should send gold stock prices rising in the near term. Additionally, continued geopolitical flare-ups in the Middle East could increase demand for gold.
Looking at Dakota Golds, various short-term signals are in the green. Its current buy zone will likely hold, and it presents a great buy opportunity with a promising probability of potential short-term gains.
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