Orion invests $17 million into South Dakota-focused gold explorer

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Dakota Gold has entered a strategic partnership with Orion Mine Finance that would see the US-listed gold explorer receive an equity investment of $17 million, plus further financial support to grow its South Dakota-based assets.

Moreover, Orion has agreed to provide up to $300 million in financing support for the construction and development of Dakota Gold’s assets, or for the acquisition of new assets by the company. Orion also has the right to match the terms of any future financings. The royalty excludes the company’s private land, where it is currently active with four drills at the Maitland and Richmond Hill projects, as well as certain claims forming part of the the Blind Gold project. Dakota Gold will receive total consideration of $1 million for the royalty.

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