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EMC Gold Corporation (ASX:EM3)

ALERT: Price-sensitive ASX Announcement for EM3
Current share price for EM3 : $0.089 -0.005 (-5.32%)+
Announcement
Release
29 Oct 2026 9:53AM
Price at Release
$0.094
Full Release
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Summary
EMC Gold Corporation’s Quarterly Activities Report and Appendix 5B for the quarter ended 30 September 2026 states that the Company continued advancing its 100%-owned Salave Gold Project in Asturias, Spain through stakeholder engagement and assessment of alternative development pathways following the High Court of Asturias ruling of 1 April 2026; during the quarter it appointed Agne Ahlenius as Chief Executive Officer and Executive Director effective 6 July 2026, with Mr Lavandeira becoming Non-Executive Chairman and Mr Roberts transitioning to Non-Executive Director, and disclosed that Mr Ahlenius’ long-term incentive includes 5,000,000 performance rights subject to shareholder approval and tied to environmental and permitting milestones at Salave. The Company also issued 3,472,820 CDIs from exercised unlisted options at $0.03 each, raising $104,185 before costs, leaving 411,809,564 CDIs on issue. EMC Gold reported cash of A$4.171 million at 30 September 2026, quarterly net operating cash outflow of A$367,000, financing inflow of A$104,000 from option exercises, no investing cash flows, A$86,000 in related party payments for director fees and salaries, and estimated funding for 11.4 quarters. No tenements were acquired or disposed of during the quarter; the Company’s Spanish tenure remained unchanged, totalling 3,316.97 hectares including the Salave investigation permit, and it holds no tenements in Australia.
Key Points
  • EMC Gold continued advancing the Salave Gold Project in Asturias, Spain during the September 2026 quarter.
  • Work focused on stakeholder engagement and assessment of alternative development pathways following the High Court of Asturias ruling on 1 April 2026.
  • Agne Ahlenius was appointed Chief Executive Officer and Executive Director effective 6 July 2026.
  • Mr Lavandeira became Non-Executive Chairman and Mr Roberts transitioned to Non-Executive Director.
  • Ahlenius’ long-term incentive includes 5,000,000 performance rights tied to Salave environmental and municipal permitting outcomes, subject to shareholder approval.
  • The Company issued 3,472,820 CDIs from exercised unlisted options at $0.03 each, raising $104,185 before costs.
  • EMC Gold had 411,809,564 CDIs on issue at the end of the quarter.
  • Cash at 30 September 2026 was A$4.171 million.
  • Net cash used in operating activities for the quarter was A$367,000.
  • Quarterly exploration and evaluation payments were A$183,000, staff costs were A$74,000, and administration and corporate costs were A$111,000.
  • Net cash from financing activities was A$104,000 and there were no investing cash flows.
  • Related party payments totalled A$86,000 for director fees and salaries, including the CEO salary.
  • The Company estimated it had 11.4 quarters of funding available based on quarter-end cash and current outgoings.
  • No tenements were acquired or disposed of during the quarter.
  • EMC Gold’s Spanish tenements totalled 3,316.97 hectares and the Company holds no tenements in Australia.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.