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Galiano Gold announces fatality and equipment damage at Asanko Gold Mine
Galiano Gold provided the following statement regarding an incident that occurred at its Asanko Gold Mine on September 9. "The incident involved a confrontation between community members and military personnel on the Company's operating concessions in the Amansie South District of Ghana. The military presence forms part of a state-mandated security intervention, coordinated through the Ghana Chamber of Mines. Tensions escalated within the local community, leading to civil unrest, including a fatality and damage to contractor equipment. The Company shares in the community's grief over the tragic loss of life and extends its heartfelt condolences to the affected families during this difficult time. Galiano is supporting local authorities, government officials, and community leaders as investigations are underway and the Company remains committed to maintaining constructive dialogue with all stakeholders. Operations at the Esaase deposit have been temporarily suspended, while operations at the Abore deposit and processing plant are unaffected. The Company will provide further updates once investigations are complete."
Galiano Gold reports Q2 adjusted EPS 8c, consensus 5c
Reports Q2 revenue $97.3M vs. $76.6M last year. Produced 30,350 ounces of gold during the quarter, a 46% increase compared to Q1 2025. 51,084 ounces of gold produced year-to-date. "We are pleased with the progress made during the period with production, all-in sustaining costs, earnings per share, and cash balances all improving quarter-on-quarter. This momentum, in combination with the commissioning of the secondary crusher ahead of schedule in late July, positions us well for a strong second half of the year," said Matt Badylak, CEO. "The results from our Abore deep drilling program confirm the presence of a mineralized system 200 meters below the current Mineral Reserve over a significant 1,200 meter strike length. These findings highlight the expansion potential at Abore and provide additional exploration targets to unlock further value beneath our existing reserves."
Galiano Gold reports 'positive' results from drilling program at Abore deposit
Galiano Gold announced positive results from a deep step-out drilling program at the Abore deposit, with mineralization intercepted in all four holes across a 1,200 meters strike length. This drilling campaign reinforces Abore's expansion potential at depth and provides a foundation for future deep drilling programs to further test for mineralization below the boundaries of the current Mineral Reserve and Mineral Resource. Abore is a cornerstone deposit at the Asanko Gold Mine, located in Ghana, West Africa, and is currently being mined by the company. The completed Abore deep step-out drilling program consisted of four holes totalling 1,907m and was designed to test for continuity of mineralization significantly below the current Abore Mineral Reserve and Mineral Resource and to demonstrate the blue-sky potential for future Mineral Resource and Mineral Reserve expansion. The program confirmed the Abore granite and mineralizing system continues 200m below the current Mineral Reserve pit shell over a strike length of at least 1,200m and remains open in all directions. Notably, the system appears to carry grades and widths at these depths sufficient to support the potential development of bulk underground mining.
Galiano Gold reports Q4 EPS 2c, consensus 6c
Reports Q4 revenue $64.55M, one estimate $77M. During Q4, the company produced 28,508 gold ounces at all-in sustaining costs of $2,638 per gold ounce sold, or $1,773/oz excluding capitalized waste stripping costs at Abore, and generated $13.8M of operating cash flows while remaining debt free with $105.8M in cash and cash equivalents. Operating cash flows continue to support the ramp-up of mining at the AGM's Abore deposit. "During 2024, Galiano completed the transformative transaction with Gold Fields, terminated our offtake agreement with Red Kite, and ended the year with a strong position of over $105 million in cash and no debt," said Matt Badylak, Galiano Gold's President and CEO. "Operationally, it was a complex year with a new contractor recommencing mining at the AGM in the Abore pit, while simultaneously stepping out to access a 45% larger reserve. The harder ore, coupled with lower availabilities in the mobile crushing circuit, ultimately led to a slight miss on our revised production guidance. That said, the challenges we faced in 2024 are not long-term and are being addressed. The mining contractor is now fully mobilized, softer ore is being delivered from Esaase, and construction of the secondary crusher is progressing to schedule. 2025 production is expected to be weighted to the second half of the year, and we are well-positioned to generate positive cash flows from operations in this favorable gold price environment."
Galiano Gold reports 2024 gold production of 115.1K oz
The company states: "Produced 115,115 ounces, slightly below revised guidance of 120,000 to 130,000 ounces. Full year mill throughput of 5.1 million tonnes was constrained due to harder material processed and lower mobile crushing circuit availability. Fewer ore tonnes were mined from Abore due to mining at higher elevations following an expansion of the pit to take advantage of the increased Mineral Reserve. CEO Matt Badylak states: "We are well-positioned to capitalize on historic high gold prices, supported by a strong financial position and the completion of the Red Kite buyout. Optimization of the Life of Mine plan remains on track, with the release of results expected later this month. Recent additions to our management team and Board of Directors further strengthen our ability to meet our goals in the year ahead."
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