Black Dragon Gold Holds CAD$882K Cash as Salave Gains Community Backing

Community Endorsement for Salave Project

Black Dragon Gold has taken a significant step forward in advancing its flagship Salave gold project in northern Spain. The company’s Strategic Project application, submitted earlier this year, underwent a public consultation process managed by Asturias’ SEKUENS Agency. The results revealed a majority community support exceeding 63%, contingent on the company meeting its legal and environmental commitments.

This level of local backing is particularly noteworthy given the socioeconomic challenges facing the Tapia de Casareigo municipality, where Salave is located. The area has experienced a 9% population decline over the past decade, with a demographic shift towards a retired majority. Residents expressed strong desires for sustainable investment and quality job creation aligned with municipal goals, underscoring the project’s potential regional impact beyond mineral extraction.

Corporate and Operational Developments

On the corporate front, Black Dragon Gold announced the resignation of Non-Executive Director Heidy Arocha, citing personal reasons. While the immediate implications for governance remain unclear, the company continues to maintain a stable leadership team focused on progressing the Salave project.

Exploration activity in Western Australia at the Ivan Well licence was paused during the quarter, reflecting a strategic focus on the Spanish asset. The Ivan Well licence remains valid until early 2027, preserving future exploration optionality.

Financial Position and Outlook

Financially, Black Dragon Gold reported a cash balance of CAD$882,000 at quarter-end. The company’s cash flow statements indicate ongoing operating outflows consistent with exploration and development phases. Related party payments amounted to CAD$99,305, primarily for director fees and salaries.

With the PIER application moving through regulatory channels and community support firmly established, Black Dragon Gold is positioned to advance towards formal approval. The company’s substantial mineral resource base at Salave, including over 1.5 million ounces of gold in measured and indicated categories, underpins its long-term value proposition.

Investors will be watching closely for the SEKUENS Agency’s forthcoming decision and any strategic responses to the recent board change. The balance between regulatory progress, community engagement, and financial discipline will be critical as Black Dragon Gold navigates the next phase of its development journey.