EMC Gold (ASX:EM3), an exploration company with a global portfolio of exploration assets and its flagship Salave Gold Project in Spain, has released its quarterly activities report for the period ending 30 June 2026. The company provided updates on its key project, corporate developments, and financial standing, underscoring its strategic focus on the Salave project located in the north of Spain in the Principality of Asturias.
Regarding the Salave Gold Project, EMC Gold continued to advance the asset despite a High Court of Asturias ruling on 1 April 2026. This ruling upheld the Tapia de Casariego Municipal Council’s decision not to consider the company’s proposed amendment to the municipal urban plan. EMC Gold clarified that this ruling was procedural and did not relate to the technical, environmental, or economic merits of the project. The company is actively engaging with local and regional stakeholders and assessing alternative development pathways, while also evaluating a future drilling program to investigate strategic mineral occurrences and inert sand usage.
Operationally, EMC Gold confirmed the completion of its surrender process for the 115km² Ivan Well exploration tenement in Western Australia, lodging its final report in April 2026. The company now holds no other tenure in Western Australia. Corporately, subsequent to the quarter end, Mr. Agne Ahlenius was appointed Chief Executive Officer and Executive Director, effective 6 July 2026, reinforcing the focus on Salave. Additionally, Alberto Lavandeira transitioned to Non-Executive Chairman, and Dominic Roberts moved to Non-Executive Director. Effective 1 April 2026, the company also changed its functional and presentation currency from Canadian dollars (CAD$) to Australian dollars (AUD$).
Financially, EMC Gold reported cash reserves of AUD$4.420 million as at 30 June 2026. During the quarter, the company made payments totalling AUD$98,000 to related parties for Director fees and salaries. The report confirms the company’s ongoing tenement holdings primarily in Spain, which includes several concessions and an investigation permit for the Salave area.
