Black Dragon Gold (ASX:BDG) Faces Setback at Salave Project
Permitting Delays
Black Dragon Gold (ASX:BDG) has faced a significant setback as the Tapia de Casariego Town Council rejected its land re-zoning application for the Salave Gold Project. This decision, made during a public plenary session, has caused further delays in the project that holds considerable economic and social importance to the local area.
The council cited prohibitive restrictions in the 2016 Urbanistic Plan as the reason for denying the application to change land use from agricultural to industrial. The company is currently awaiting the formal meeting minutes for further clarity while preparing its legal response, as it believes there are no such restrictions based on its advisors’ insights.
Executive Comments
Executive Chairman Dominic Roberts expressed frustration over the council’s decision, stating, “This is a highly frustrating further delay to the Salave Gold Project and the essential revitalisation of a declining local economy. There are no environmental grounds to reject this application. Every concern identified in 2019 has been resolved.”
Despite this setback, Roberts remains optimistic, indicating that the team will continue to work towards overcoming the challenges associated with the permitting process. He noted the recent positive media coverage of the project, reinforcing its significance against the backdrop of declining industrial activity in the Asturias region.
The company affirms its commitment to the Salave Project, which includes a substantial mineral resource that remains unexplored due to the current delays.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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