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Financial Firm Covers Mining Co. With Assets in US

Source: Michael Fairbairn   09/12/2022

This "uniquely positioned" junior explorer has a large land package in a prolific, historical South…

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This article was originally published by The Gold Report

Source: Michael Fairbairn   09/12/2022

This “uniquely positioned” junior explorer has a large land package in a prolific, historical South Dakota mining district and top-tier management and board members, Canaccord Genuity noted.

The financial services firm, Canaccord Genuity, initiated coverage on Dakota Gold Corp. (DC:NYSE American) with a Speculative Buy rating and a $5.25 per share target price, reported analyst Michael Fairbairn in a September 12, 2022 research note. In comparison, this gold exploration company, led by Dr. Robert Quartermain and Jonathan Awde, is trading at around $3.93 per share.

Investors can expect “a steady stream of catalysts in the company’s hunt for a big discovery next door to this prolific mine,” purported Fairbairn.

 

 

 

 

“We like Dakota Gold for its strong leadership and exploration teams, quality jurisdiction with low geopolitical risk, clear focus on ESG [environmental, social and governance], and major exploration potential offering the possibility of a multimillion ounce, high-grade discovery,” Fairbairn wrote then addressed each compelling factor,” wrote Fairbairn.

As for exploration, Fairbairn highlighted, Dakota owns about 45,000 acres, including some 10-odd projects, around the historic Homestake mine in the “legendary” Homestake District in South Dakota’s Black Hills, a safe and mining-friendly jurisdiction. The Canadian-headquartered firm has a 30,000-meter drill program underway, $35 million in cash to complete it, and 145 years of historical regional data from Barrick Gold.

Investors can expect “a steady stream of catalysts in the company’s hunt for a big discovery next door to this prolific mine,” purported Fairbairn.

An exploration bonus, Fairbairn wrote, is the good chance Dakota could make a major discovery, and thus, “upside potential could be significant.” This is because the Homestake area has been underexplored, and the many high-grade discoveries identified in the past did not get further attention. The Homestake mine, for instance, produced about 40,000,000 ounces of gold, making it the largest iron formation-hosted gold deposit ever discovered in the U.S.

The analyst also pointed out that when Dakota consolidated a Black Hills land package, it secured Maitland and Richmond Hill, two highly prospective projects from Barrick, and Barrick “closure group” assets such as these generally have outperformed. K92 Mining and Skeena, for example, have done much better than the GDXJ after they transacted closure asset group deals with the gold major.

Dakota Gold boasts top-tier, experienced management and geology teams and a strong board of directors, indicated Fairbairn, assembled by Co-chairman Quartermain, recent Canadian Hall of Fame inductee and builder of Pretium Resources and SSR Mining who came out of retirement for the Dakota opportunity, and Chief Executive Officer (CEO) Awde, former president, CEO, director and co-founder of Gold Standard Ventures.

James Berry, vice president of exploration, and Jerry Aberle, chief operating officer, lead the local team, the members of which together have more than a century of experience with Homestake District geology and exploration.

Also favorable, according to Fairbairn, is that about 30% of Dakota is owned by members of its executive suite and board, indicating the company’s interests mirror those of shareholders.

Lastly, noted Fairbairn, Dakota has been focused on ESG and strong community relationships since its genesis, specifically on setting, meeting, monitoring, and measuring goals in that regard. A report published earlier this year summarized the company’s ESG efforts to date.

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Disclosures:
1) Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Dakota Gold Corp. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with: None. Please click here for more information.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Dakota Gold Corp. a company mentioned in this article.

Disclosures For Canaccord Genuity Corp., Dakota Gold Corp., September 12, 2022

Analyst Certification: Each authoring analyst of Canaccord Genuity whose name appears on the front page of this research hereby certifies that (i) the recommendations and opinions expressed in this research accurately reflect the authoring analyst’s personal, independent and objective views about any and all of the designated investments or relevant issuers discussed herein that are within such authoring analyst’s coverage universe and (ii) no part of the authoring analyst’s compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by the authoring analyst in the research, and (iii) to the best of the authoring analyst’s knowledge, she/he is not in receipt of material non-public information about the issuer.

Analysts employed outside the US are not registered as research analysts with FINRA. These analysts may not be associated persons of Canaccord Genuity LLC and therefore may not be subject to the FINRA Rule 2241 and NYSE Rule 472 restrictions on communications with a subject company, public appearances and trading securities held by a research analyst account.

Required Company-Specific Disclosures (as of date of this publication): Canaccord Genuity or one or more of its affiliated companies is a market maker or liquidity provider in the securities of Barrick Gold Corporation or in any related derivatives. Canaccord Genuity or one or more of its affiliated companies intend to seek or expect to receive compensation for Investment Banking services from Dakota Gold Corp., Barrick Gold Corporation, K92 Mining Inc. and Skeena Resources Ltd. in the next three months. An analyst has visited the material operations of Dakota Gold Corp. and Skeena Resources Ltd.. Partial payment was received for the related travel costs.

General Disclaimers:  See “Required Company-Specific Disclosures” above for any of the following disclosures required as to companies referred to in this report: manager or co-manager roles; 1% or other ownership; compensation for certain services; types of client relationships; research analyst conflicts; managed/co managed public offerings in prior periods; directorships; market making in equity securities and related derivatives. For reports identified above as compendium reports, the foregoing required company-specific disclosures can be found in a hyperlink located in the section labeled, “Compendium Reports.” “Canaccord Genuity” is the business name used by certain wholly owned subsidiaries of Canaccord Genuity Group Inc., including Canaccord Genuity LLC, Canaccord Genuity Limited, Canaccord Genuity Corp., and Canaccord Genuity (Australia) Limited, an affiliated company that is 80%-owned by Canaccord Genuity Group Inc.

The authoring analysts who are responsible for the preparation of this research are employed by Canaccord Genuity Corp. a Canadian broker-dealer with principal offices located in Vancouver, Calgary, Toronto, Montreal, or Canaccord Genuity LLC, a US broker-dealer with principal offices located in New York, Boston, San Francisco and Houston, or Canaccord Genuity Limited., a UK broker-dealer with principal offices located in London (UK) and Dublin (Ireland), or Canaccord Genuity (Australia) Limited, an Australian broker-dealer with principal offices located in Sydney and Melbourne.

The authoring analysts who are responsible for the preparation of this research have received (or will receive) compensation based upon (among other factors) the Investment Banking revenues and general profits of Canaccord Genuity. However, such

authoring analysts have not received, and will not receive, compensation that is directly based upon or linked to one or more specific Investment Banking activities, or to recommendations contained in the research.

Some regulators require that a firm must establish, implement and make available a policy for managing conflicts of interest arising as a result of publication or distribution of research. This research has been prepared in accordance with Canaccord Genuity’s policy on managing conflicts of interest, and information barriers or firewalls have been used where appropriate. Canaccord Genuity’s policy is available upon request.

The information contained in this research has been compiled by Canaccord Genuity from sources believed to be reliable, but (with the exception of the information about Canaccord Genuity) no representation or warranty, express or implied, is made by Canaccord Genuity, its affiliated companies or any other person as to its fairness, accuracy, completeness or correctness. Canaccord Genuity has not independently verified the facts, assumptions, and estimates contained herein. All estimates, opinions and other information contained in this research constitute Canaccord Genuity’s judgement as of the date of this research, are subject to change without notice and are provided in good faith but without legal responsibility or liability.

From time to time, Canaccord Genuity salespeople, traders, and other professionals provide oral or written market commentary or trading strategies to our clients and our principal trading desk that reflect opinions that are contrary to the opinions expressed in this 

research. Canaccord Genuity’s affiliates, principal trading desk, and investing businesses also from time to time make investment decisions that are inconsistent with the recommendations or views expressed in this research.

This research is provided for information purposes only and does not constitute an offer or solicitation to buy or sell any designated investments discussed herein in any jurisdiction where such offer or solicitation would be prohibited. As a result, the designated investments discussed in this research may not be eligible for sale in some jurisdictions. This research is not, and under no circumstances should be construed as, a solicitation to act as a securities broker or dealer in any jurisdiction by any person or company that is not legally permitted to carry on the business of a securities broker or dealer in that jurisdiction. This material is prepared for general circulation to clients and does not have regard to the investment objectives, financial situation or particular needs of any particular person. Investors should obtain advice based on their own individual circumstances before making an investment decision. To the fullest extent permitted by law, none of Canaccord Genuity, its affiliated companies or any other person accepts any liability whatsoever for any direct or consequential loss arising from or relating to any use of the information contained in this research.

( Companies Mentioned: DC:NYSE American,
)

nyse
gold
iron
tsx-abx
barrick-gold-corporation
barrick gold corporation
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k92 mining inc

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