The ASX’s newest gold explorer Black Dragon made a steady ASX debut today as the gold price rallied.

Vancouver’s Black Dragon (ASX:BDG) debuted at 19c today compared to its 20c issue price.

It fell to an intraday low of 17c but climbed back to close even at 20c.

About $191,000 worth of shares changed hands.

Black Dragon raised $6 million in an initial public offering to develop a project called “Salave” in northern Spain.

Perth’s Coolgardie Minerals is the next gold miner to take the stage when it lists on the ASX tomorrow.

The price of gold is up about 1.5 per cent since Friday compared to a 13 per cent fall in the prior four months. That rise had a positive impact earlier this week on local gold stocks.

One of Australia’s most experienced resources journalists Tim Treadgold writes in his latest weekly Stockhead column that “there are clear signs that gold is poised to take off”.

Still, the recent record for ASX gold floats has been mixed.

Kingwest Resources (ASX:KWR) has yet to trade above its 20c issue price after listing last week.

Sultan Resources (ASX:SLZ) — which has a broad West Australian portfolio including gold, copper, nickel and cobalt — has also stayed around its issue price since listing a few weeks back.

As has fellow yellow metal miner Saturn Metals (ASX:STN) — which was spun off from Perth-based Peel Mining (ASX:PEX).

All three have fared better than Mako Gold (ASX:MKG) which has almost halved in price since its listing at 20c in April. It’s now trading around 11.5c.

Meanwhile more gold floats are on the way.

Perth gold and base metals explorer Caprice Resources has just opened a $4.5 million IPO to develop projects in the Northern Territory and Western Australia.

Columbia-focused gold explorer Andes Resources said in February it was eyeing an ASX listing while Queensland’s Carnaby Resources was making plans in June.

Black Dragon (ASX:BDG)

Black Dragon owns a gold project in northern Spain that already has a resource of 6.5 million tonnes at 4.5 grams per tonne (g/t) for 944,000 contained ounces of gold.

Generally anything above 5g/t is considered high grade.

The company says the project, called “Salave”, is one of the biggest undeveloped gold projects in Europe.

Black Dragon plans to de-list from the Toronto stockmarket after establishing itself on the ASX.

“[Australia] is a market that we think Black Dragon will work in better given its grade, the size of its deposit and I think deposits like this are better understood by the Australian market than they are in Canada,” Mr Cronin told Stockhead recently.

“ASX investors have a strong and proud history of understanding and appreciating gold development stories and we are committed to delivering on our promise of generating shareholder value from Salave, which is a truly fantastic gold asset,” said Black Dragon boss Paul Cronin ahead of today’s float.

“We look forward to reporting assay results from this recent drilling in the near term.”

Coolgardie Minerals (ASX:CM1)

Western Australia-focused gold explorer Coolgardie Minerals lists on Thursday at 12.30pm AEST after raising $4.25 million at 20c apiece.

Coolgardie owns a gold project 60km west of Kalgoorlie in the eastern goldfields  of Western Australia.

Known as “Bullabulling”, the site has been under development for five years and has so far revealed 12 “high priority gold exploration targets and near term development opportunities”.

The IPO funds will be used to fund drilling to uncover potential extensions to several prospects.

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