Black Dragon Gold corp

What Black Dragon Gold corp does

Black Dragon Gold Corp, operating under the trading name EMC Gold Corporation (ASX: EM3), is a publicly listed gold mining exploration and development company focused exclusively on the Salave Gold Project located in Asturias, northern Spain. The company holds 100% ownership of the asset through its wholly-owned Spanish subsidiary Exploraciones Mineras del Cantabrico SL, making it a single-asset developer with concentrated exposure to one defined mineral resource.

The Salave Gold Project is reported under the JORC Code, with an updated resource statement dated 1 February 2025 defining 17.1 million tonnes at 2.85 g/t Au for 1.56 million ounces of contained gold. In February 2025, the company published both an Updated Resource Statement and a Scoping Study, marking the transition from pure exploration reporting toward development-stage technical assessment. The underlying technical basis is conventional resource estimation and mining engineering, with no disclosed proprietary technology stack or AI/ML components.

The business model is pre-production: the company generates no revenue from gold sales and derives no contracted income. Future monetization depends on advancing Salave to a production decision, securing development financing, and ultimately selling gold at prevailing spot prices. The customer base is therefore not yet defined — future customers would be gold refineries, bullion banks, or offtake counterparties. At present, the company is funded through equity capital as an ASX-listed entity and is engaged in technical de-risking of its single asset.

Name

Black Dragon Gold corp

Legal name

EMC Gold Corporation

Website

https://blackdragongold.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

1–10 employees

Short description

Black Dragon Gold Corp (EMC Gold, ASX: EM3) is a single-asset gold exploration and development company focused on the Salave Gold Project in Asturias, northern Spain, held through wholly-owned subsidiary Exploraciones Mineras del Cantabrico SL.

Ownership category

akta.pro rank

Product category

Gold Mining

NAICS

Gold Ore and Silver Ore Mining (21222), Gold Ore and Silver Ore Mining (212220)

SIC

Gold And Silver Ores (1040), Metal Mining (1000)

akta.pro primary industry

Gold Mining (IMAKAEAA)

Keywords

• Gold mining exploration
• Mineral resource development
• Precious metals extraction
• Mining project development
• JORC-compliant resources

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Distribution channels1 record

Marketing channels4 records

Core offering

Black Dragon Gold Corp (ASX: EM3) is a gold exploration and development company that owns 100% of the Salave Gold Project in Asturias, northern Spain, via its wholly owned subsidiary Exploraciones Mineras del Cantabrico SL. The asset comprises a JORC-compliant mineral resource of 17.1Mt at 2.85 g/t Au for 1.56 Moz contained gold. The company is advancing the project through scoping studies and a preliminary economic assessment toward future mine construction and gold production, targeting direct offtake sales to refiners and gold traders.

Product overview

EMC Gold Corporation operates as a single-project gold mining company focused on the Salave gold project in northern Spain. The company is 100% owner of the project through its wholly owned subsidiary Exploraciones Mineras del Cantabrico SL, with a highly experienced management and technical team dedicated to bringing the project into production and creating shareholder value.

Differentiator

Problem solved

Functional benefit

Products and services

• Salave Gold Project A technically robust, large-scale gold mining project located in the Asturias region of northern Spain, recognized as one of the largest undeveloped gold projects in Europe. The project is owned 100% by EMC Gold Corporation through its wholly owned Spanish subsidiary Exploraciones Mineras del Cantabrico SL and has a JORC-compliant total resource of 17.1Mt at 2.85 g/t Au for 1.56 Moz contained gold (as at 1 February 2025). It is being advanced toward production via scoping studies and a preliminary economic assessment, with planned gold output to be sold directly to refiners and traders.

Quantifiable outcome

• 1.56 Moz contained Au resource

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Exploraciones Mineras del Cantabrico SLOthersWholly owned subsidiary through which EMC Gold holds 100% of the Salave gold project in Asturias, northern Spain. The subsidiary is the legal entity holding the project assets.

Scale indicators2 records

Recent moves3 records

Expansion highlights3 records

Broad incumbents

• Gold Road Resources: ASX-listed mid-tier gold producer and developer (Gruyere JV). Comparable as a more advanced Australian-listed gold vehicle and a relevant benchmark for valuation of ASX-listed gold developers.
• Ramelius Resources: ASX-listed mid-tier gold producer. Comparable as an established Australian-listed gold operator, relevant for understanding where EMC Gold could trade if Salave advances to production.
• Newmont Corporation: World's largest gold miner with diversified global operations. Comparable as the largest strategic acquirer of advanced gold projects and a benchmark for tier-1 jurisdiction gold valuations.
• Pan American Silver: Major silver and gold producer with diversified operations. Comparable as a large-scale precious-metals operator that could be a potential acquirer of an advanced Salave asset.

Direct peers

• Greatland Gold: London-listed gold and copper exploration and development company focused on Tier-1 jurisdictions. Comparable as a small-cap, single/limited-asset gold developer targeting production in a stable jurisdiction.
• Panther Metals: London-listed junior miner with gold and critical minerals exploration projects. Comparable as a small European-listed single-commodity precious-metals developer at a similar stage.
• ECR Minerals: UK-listed gold exploration and development company with assets in Australia. Comparable as a small-cap, pre-production gold developer with a single-asset focus and similar investor base dynamics.
• Caledonia Mining: Single-asset gold producer (Blanket Mine, Zimbabwe). Comparable business model of focused gold production from a single asset, providing a benchmark for what a fully-permitted/operating version of EMC Gold could look like.
• Elemental Altus Royalties: Royalty/streaming company with a direct royalty exposure to the Salave Gold Project itself. Most directly comparable peer given overlapping exposure to the same asset and similar single-asset precious-metals focus.

Emerging players

• Orla Mining: Mid-tier gold developer/producer that has successfully transitioned from explorer to producer. Relevant as a comparable trajectory for what successful execution of a Salave-style project looks like.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/blackdragon_oro
• LinkedInlinkedin.com/company/black-dragon-gold-corp

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Black Dragon Gold corp