The default composite operator is CompositeOperator.In. And because your source image does not contain any transparency it will use black for the transparent pixels.
You probably want to switch to 'CompositeOperator.Over'. Or use Dissolve if you want to hide it a bit (see my example above for the syntax).
You probably want to switch to 'CompositeOperator.Over'. Or use Dissolve if you want to hide it a bit (see my example above for the syntax).