09:19 AM EDT, 03/25/2025 (MT Newswires) -- Dakota Gold ( DC ) said Tuesday its feasibility study for the Richmond Hill Oxide Heap Leach Gold Project in South Dakota is fully funded through completion after raising $35 million from a shares offering.

The company said its total cash position now stood at more than $47 million before expenses.

Due to its "strong" cash position, the company is suspending its at-the-market equity program which it previously used for common stock offering, it added.

Dakota Gold ( DC ) said it anticipates launching the permitting process for the Richmond Hill project once it completes the study, which is expected in mid-2026.

The gold miner also said it intends to mobilize drills to Richmond Hill on April 1 and "could see potential" production in 2029.

Shares of the company were up 1.1% in recent Tuesday premarket activity.