Welcome to our dedicated page for Galiano Gold news (Ticker: GAU), a resource for investors and traders seeking the latest updates and insights on Galiano Gold stock.
Galiano Gold Inc. (symbol: GAU) is a company engaged in the exploration, development, and production of gold properties. Headquartered in Vancouver, Canada, Galiano operates primarily in Ghana, West Africa, where it manages the Asanko Gold Mine—a multi-deposit complex consisting of the Obotan and Esaase Projects.
Founded in 1999 and formerly known as Asanko Gold Inc., the company rebranded to Galiano Gold Inc. in May 2020, reflecting its focus on sustainable and long-term value creation. Galiano's core business integrates exploration, strategic acquisitions, and disciplined financial management to enhance stakeholder value.
The Asanko Gold Mine (AGM) is situated in the Amansie West District of Ghana. This massive complex includes several deposits, with the recent addition of the Nkran deposit, adding to its portfolio. A standout achievement for Galiano is its recent binding share purchase agreement with Gold Fields Limited to acquire a 45% stake in AGM, consolidating Galiano's control over one of West Africa's largest gold mines. This acquisition, valued at $20 million in common shares and up to $85 million in future cash considerations, significantly strengthens Galiano's position as an emerging mid-tier gold producer.
In 2023, the AGM exceeded production guidance for the second consecutive year, further solidifying the mine's operational success. The company reports robust financial health, with no debt and a strong cash position that is expected to grow following recent transactions. Galiano continues to invest in its operations, including a $15 million exploration program planned for 2024 aimed at extending the life of the mine and realizing new value.
Galiano is committed to high standards of environmental management, social responsibility, and the safety of its employees and neighboring communities. Recent initiatives include an enhanced understanding of the Asankrangwa Gold Belt's prospectivity and ongoing exploration targets in 2024 to further expand its resource base.
The company also upholds transparency and accountability through regular updates and conference calls with stakeholders, ensuring compliance with regulatory standards. Galiano's recent operational highlights include significant increases in measured and indicated mineral resources at the Abore deposit and the achievement of notable exploration milestones.
Galiano Gold Inc. envisions continued growth and value creation through strategic initiatives, robust financial management, and a commitment to sustainable mining practices. For more detailed information, visit their official website at www.galianogold.com.
Galiano Gold Inc. (GAU) has acquired 100% of ABG Mali Exploration SARL from Barrick Gold for US$1.5 million. The acquisition includes four exploration licenses over an area of 167 km2, located along the Senegal Mali Shear Zone, known for rich gold deposits. Galiano plans to conduct a soil sampling campaign and UAV geophysical surveys this year, with drilling scheduled for 2022. Galiano's CEO, Greg McCunn, expressed optimism about the acquisition, highlighting its potential value through attractive intercepts from previous drilling.
Galiano Gold Inc. (GAU) announced the initiation of exploration work on its 100% owned Asumura property in Ghana. This property, located along the Sefwi greenstone belt near Newmont's Ahafo mine, is undergoing soil sampling and geological mapping, with plans for follow-up drilling later in 2021. The Asumura property spans approximately 247 square kilometers across three concessions. CEO Greg McCunn expressed optimism about the potential of the Asumura property to generate value for shareholders, highlighting its geological setting as an attractive exploration target.
Galiano Gold Inc. (TSX: GAU) released its preliminary Q1 2021 results for the Asanko Gold Mine, reporting $110.6 million in gold revenue from selling 62,925 ounces at an average price of $1,757 per ounce. The company produced 59,999 ounces of gold and paid $10 million in cash distributions to joint venture partners. Safety standards were high, with zero recordable injuries. As of March 31, Galiano held approximately $65 million in cash and receivables, with no debt. Full results will be available on May 5, 2021.
Galiano Gold Inc. (GAU) reported strong Q4 2020 results, with annual gold production of 249,904 ounces, exceeding guidance. The Asanko Gold Mine generated $152.3 million in operating cash flows and $66.9 million in free cash flow. The company achieved net income of $57.4 million for 2020, rebounding from a loss in 2019. Cash on hand was $62.2 million, debt-free. For 2021, Galiano targets gold production of 225,000 to 245,000 ounces with an all-in sustaining cost of $1,100 to $1,300 per ounce.
Galiano Gold Inc. (TSX: GAU) provides an update on its exploration program at the Asanko Gold Mine in Ghana. The ongoing Phase 3 drilling at the Miradani North target has yielded promising results, including significant intersections: Hole TTDD20-030 recorded 44.33m at 2.04 g/t, and Hole TTDD20-049 showed 133.3m at 1.44 g/t. A total of 33 holes have been drilled so far, with results from 11 holes pending. The company plans to drill six more strategic holes in March, leading to a maiden resource estimate expected in Q3 2021, further expanding the understanding of the 5km mineral trend.
Galiano Gold Inc. (GAU) reported strong Q4 2020 operating results for the Asanko Gold Mine, with an annual production of 249,904 ounces, exceeding guidance. Revenue reached a record $418.1 million, and Q4 revenue was $111.1 million from 60,655 ounces sold at $1,828/oz. The company achieved a significant cash flow of $152.3 million and all-in sustaining costs below guidance at $1,115/oz. For 2021, guidance remains stable at 225,000 to 245,000 ounces, with AISC expected to range from $1,100 to $1,300/oz, with ongoing exploration efforts targeting resource expansion.
Galiano Gold Inc. has provided an update on the exploration program at the Asanko Gold Mine joint venture with Gold Fields Ltd. The Miradani North target, located 10 km from the processing plant, has seen encouraging results from a Phase 3 drilling program, now 80% complete with 28 holes totaling 7,896m. Assays for 56% of the drilling have been received, revealing significant mineralization, with grades up to 6.3 g/t gold. CEO Greg McCunn emphasizes that Miradani North remains a top priority as they prepare for further engineering studies and resource estimates.
Galiano Gold Inc. (GAU) has announced an update on its 2020 exploration program at the Asanko Gold Mine in Ghana, following positive drilling results. The company has shifted its focus to the Miradani trend, launching a Phase 3 drilling program with 50 holes after completing a successful Phase 2 campaign. Highlights include significant gold intercepts, with Phase 2 drilling yielding up to 2.5 grams per tonne gold. CEO Greg McCunn emphasizes that Miradani is a top priority, and further drilling is planned for early 2021 to expand the existing resource knowledge.
Galiano Gold Inc. (GAU) reported Q3 2020 results, revealing net income after tax of $3.2 million and adjusted EBITDA of $6.5 million. Gold production reached 48,974 ounces, with all-in sustaining costs (AISC) of $1,488 per ounce. Gold sales totaled 53,975 ounces, generating $100.5 million in revenue. The company holds $66.4 million in cash and receivables, while negative free cash flow stood at $4.2 million. The AGM continues to operate safely under COVID-19 measures, with ongoing exploration and development efforts.
Galiano Gold Inc. (TSX: GAU, NYSE American: GAU) will announce its Q3 2020 financial and operational results on November 6, 2020, prior to market opening.
The company operates the Asanko Gold Mine in Ghana and is committed to sustainable business practices and environmental management.
Galiano aims to create long-term value through production growth and exploration, focusing on responsible resource deployment and stakeholder engagement.
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