Black Dragon Gold (ASX:BDG) - CEO, Paul Cronin
CEO, Paul Cronin
Source: 121 Mining Investment Events
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  • Black Dragon Gold (BDG) has conceded it may face delays in getting environmental clearance for the Salave Gold Project from the Spanish Government
  • The gold project developer is having trouble completing its environmental impact assessment, as the company cannot perform test-work and field-specific studies
  • COVID-19 has hit Spain hard, and the country is still in full lockdown — along with many government departments
  • Black Dragon Gold shares are trading flat at 6.7 cents per share

Black Dragon Gold (BDG) has hit regulatory problems in Spain, as COVID-19 shutdowns inhibit the company from completing its environmental impact assessment.

In the fourth quarter of 2019, the company’s subsidiary, Exploraciones Minera del Cantabrico (EMC), began preparing a mine and restoration plan, which would have to include an environmental impact assessment.

The company has been focussed on completing that assessment, but since COVID-19 has hit Spain, the country has completed locked down, with regulatory processes slowing to a crawl.

The Spanish Government has not given Black Dragon or its subsidiary a timeframe on when normal activities will resume, leaving the gold developer in the lurch.

That has meant EMC has not been able to perform test work and field-specific studies required for the environmental impact assessment.

Black Dragon has conceded the impact of the pandemic on the timing of their EIA is currently not clear, but it appears likely that it will be delayed.

Black Dragon states it believes the shutdown “may last several weeks” before “normal business activities resume.”

The company is attempting to minimise administrative and explorative costs during the COVID-19 shutdown, as Spain has been one of the worst-hit countries in Europe.

The Company’s Salave Project is one of the largest greenfield gold projects in Europe. 

The measured mineral resource at the site sits at 1.03 million tonnes at a grading of 5.59 grams per tonne gold, containing 0.19 million ounces of gold.

The site also has an indicated mineral resource estimate of 7.18 million tonnes, grading at 4.43 grams per tonne gold containing 1.02 million ounces of gold, and inferred resources totalling 3.12 million tonnes grading at 3.47 grams per tonne gold.

Black Dragon Gold shares are trading flat at 6.7 cents per share at 10:34 am AEST.

BDG by the numbers
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