Galiano Gold Inc Stock Price, News & Analysis

Galiano Gold Inc. (TSX/NYSE: GAU) reported its Q4 and full year 2024 results, highlighting the completion of acquiring Gold Fields' 45% interest in the Asanko Gold Mine (AGM), increasing its ownership to 90%. In Q4 2024, the company produced 28,508 gold ounces at all-in sustaining costs (AISC) of $2,638/oz, generating $13.8M in operating cash flows.

FY 2024 production reached 115,115 gold ounces at AISC of $2,063/oz, falling below revised guidance of 120,000-130,000 ounces due to lower throughput from crusher availability issues and harder ore processing. The company ended 2024 with a strong financial position of $105.8M in cash and no debt.

Key developments include terminating the gold offtake agreement with Red Kite for $13.1M, updating mineral reserves to 2.1M ounces, and awarding the Nkran mining contract. The company reported Q4 net income of $0.9M and FY 2024 net income of $6.1M.

Galiano Gold (TSX/NYSE: GAU) has announced its 2025 guidance and updated mineral reserves for the Asanko Gold Mine (AGM) in Ghana. The company expects 2025 production of 130,000-150,000 oz of gold at all-in sustaining costs of $1,750-$1,950 per ounce.

Key highlights include total mineral reserves of 2,055,000 ounces of gold and a new five-year production outlook projecting a 75% increase from 2024 levels over the next 24 months. The company plans to commence significant pit wall pushback at Nkran by mid-2025 and focus exploration on Akoma and Sky Gold B prospects.

With a strong cash balance over $100 million and no debt, Galiano expects to reach approximately 200,000 ounces of annual gold production by 2026. The 2025 capital expenditure includes $15 million in sustaining capital and $60-65 million in development capital, primarily for Nkran Cut 3 waste stripping and mill upgrades.

Galiano Gold Inc. (TSX/NYSE: GAU) reported its 2024 operational achievements, highlighting gold production of 115,115 ounces at its Asanko Gold Mine (AGM) in Ghana. The company completed a transaction with Gold Fields , increasing its AGM ownership to 90%. Key operational highlights include improved safety metrics, with 12-month rolling lost-time and injury frequency rates of 0.15 and 0.58 respectively.

The company maintained strong financial position with approximately $105 million in unaudited cash and remains debt-free. Mining improvements led to a 51% increase in ore mined in H2 compared to H1, with daily mined tonnage averaging 121,000 tonnes in H2. Mill upgrades included additional crushing capacity and carbon-in-leach tanks.

Exploration success included a 45% expansion of Abore Mineral Reserves and promising drilling results at Midras South, Akoma, and Sky Gold B targets. The company terminated its offtake agreement with Red Kite and strengthened its leadership team with key appointments.

Galiano Gold (TSX/NYSE: GAU) has terminated its gold purchase and sale agreement with Red Kite Opportunities Master Fund for US$13 million. The agreement previously required the Asanko Gold Mine (AGM) to sell 100% of its gold production, up to 2.2 million ounces, at prices selected by Red Kite during a nine-day quotational period post-shipment.

Prior to termination, AGM had delivered 1,706,407 gold ounces under the agreement. Over the past two years, the arrangement resulted in approximately 2% price discount compared to spot prices during periods of elevated gold prices and volatility. The termination allows AGM to now sell gold at market prices.

Galiano Gold (TSX/NYSE: GAU) has appointed Lauren Roberts as a non-executive director, effective January 1, 2025, expanding its Board to eight directors with seven being independent. Roberts, a Professional Mining Engineer with 35 years of international mining experience, previously served as COO of Hecla Mining Company and spent 15 years at Kinross Gold , including three years as COO. He holds a BS in Mining Engineering from the New Mexico Institute of Mining and Technology.

Galiano Gold reported Q3 2024 production of 29,784 gold ounces at the Asanko Gold Mine (AGM) with all-in sustaining costs of $2,161 per ounce. The company generated $24.4 million in operating cash flows and maintained $120.9 million in cash with no debt. Mining rates at Abore increased 32% compared to Q2, averaging 113,000t per day. Gold production was 13% higher than Q2 due to higher mined grades and improved recovery rates from 82% to 91%. The company expects to meet the lower end of full-year guidance of 120,000-130,000 ounces. Revenue was $71.0 million from 29,014 ounces sold at an average price of $2,446/oz.

Galiano Gold Inc. (TSX: GAU) (NYSE American: GAU) has announced the release date for its Q3 2024 financial and operational results. The company will publish the results after market close on November 7, 2024. A conference call to discuss the results is scheduled for November 8, 2024, at 10:30 AM ET (7:30 AM PT).

Interested parties can join the call using the following dial-in numbers:

• Local: (+1) 437-900-0527
• Toll Free: 1-888-510-2154

A replay of the call will be available until November 15, 2024, using:

• Local: (+1) 289-819-1450
• Toll Free: 1-888-660-6345
• Access Code: 09652 #

The call will also be webcast and accessible via Galiano's website at www.galianogold.com.

Galiano Gold (TSX: GAU, NYSE American: GAU) reported its Q2 2024 production and financial results, along with a significant 45% increase in the Abore deposit Mineral Reserve estimate to 485,000 ounces of gold.

Gold production for Q2 was 26,437 ounces at an all-in sustaining cost (AISC) of $1,759/oz, generating $9.2 million in operating cash flows. The company remains debt-free with $123 million in cash.

Due to slower ramp-up and lower mill throughput, Galiano revised its 2024 production guidance to 120,000-130,000 ounces from 140,000-160,000 ounces and increased AISC guidance to $1,975-$2,075/oz from $1,600-$1,750/oz.

Q2 revenue was $64 million with net income of $13.9 million. Adjusted EBITDA was $19.3 million.

The company announced the appointment of Michael Cardinaels as Executive VP and COO, effective September 3, 2024.

Galiano Gold (TSX: GAU, NYSE American: GAU) released its 2023 Sustainability Report, covering its corporate office and the Asanko Gold Mine. The report highlights the company's adherence to international sustainability standards such as the Global Reporting Initiative and the Sustainability Accounting Standards Board's Metals and Mining Standards. Key environmental achievements include zero significant incidents, reclamation activities on 25 hectares, and maintaining cyanide management certification. Social initiatives featured the launch of a mental health program, $139 million spent on local procurement, and the completion of several community infrastructure projects. Governance efforts included refresher training on human rights principles and a risk assessment in line with TCFD guidelines. The company also addressed contractor safety following fatalities earlier in the year with an independent safety audit and implemented control measures.