Black Dragon Gold (ASX:BDG) Posts Q1 Results and Advances Strategic Plans for Salave Project

May 09, 2025 03:28 PM AEST | By Team Kalkine Media

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Black Dragon Gold (ASX:BDG) Posts Q1 Results and Advances Strategic Plans for Salave Project — Image source: Shutterstock

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Highlights

Q1 loss widens due to project-related expenses

Salave drilling and permitting progress continues

Strategic designation under review for faster development

Black Dragon Gold Corp (ASX:BDG) has released its financial and operational results for the first quarter of 2025, with the company continuing to focus efforts on advancing its Salave Gold Project in Northern Spain.

For the quarter ending March 31, 2025, Black Dragon Gold reported a comprehensive loss of CAD$375,598, an increase from the CAD$220,754 loss during the same period last year. The loss was primarily attributed to development-related costs tied to the Salave project, resulting in an operating cash outflow of CAD$368,956. At the end of the period, total assets stood at CAD$1.2 million, while shareholders’ equity was recorded at a deficit of CAD$2.7 million.

Despite the widened loss, Black Dragon Gold made notable progress on several project fronts. The company successfully secured an extension of its Sallave Investigation Permit until February 2028, enabling ongoing exploration work in the highly prospective Asturian gold belt. In addition, an 18-hole drilling permit was obtained to support improved resource classification for feasibility studies and mine planning.

In a bid to expedite regulatory approvals, Black Dragon Gold applied for strategic project status under the new Proyectos de Interés Estratégico Regional (PIER) law in Asturias. If approved, this designation is expected to streamline permitting and development processes for the Salave project. The application is currently under review, with a decision anticipated later in 2025.

However, the path hasn’t been without challenges. The company's land re-zoning application was rejected by the local council of Tapia de Casariego. Black Dragon Gold is contesting the decision through the High Court of Justice in Asturias.

On the asset management side, the company finalized the sale of its Padbury Gold assets in Australia to Parbo Resources in 2024 for AUD$150,000. Black Dragon Gold retained the Ivan Well tenement, which offers early-stage exploration potential. During the first quarter of 2025, the company also raised CAD$49,278 by converting 1,833,333 options into fully paid shares.

Looking ahead, the company intends to expand exploration activities at Salave, subject to successful permitting outcomes and access to necessary capital. As interest continues to grow around ASX dividend stocks, companies like Black Dragon Gold remain focused on long-term project value creation, though it's worth noting that BDG is not currently part of the ASX300 index.

With drilling programs underway and strategic approvals in the pipeline, Black Dragon Gold is positioning itself to unlock further value from one of Spain's most promising undeveloped gold projects.

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