Creating A Sustainable Business
TSX | NYSE AMERICAN: GAU
Galiano is focused on creating a sustainable business capable of long-term value creation for its stakeholders through exploration and disciplined deployment of its financial resources. The company currently operates and manages the Asanko Gold Mine (AGM), which is jointly owned by Galiano and Gold Fields (JSE, NYSE: GFI).
The AGM is a large-scale multi-pit asset that was built in 2015 ahead of schedule and within budget. First gold was poured in January 2016 and commercial production commenced in April 2016. In 2020, the mine exceeded the upper-end of guidance with gold production of 249,904 gold ounces. In 2021, gold production at the AGM is expected to remain stable at approximately 225,000 to 245,000 ounces at all-in sustaining costs of approximately $1,100 to $1,300 per ounce (100% basis).
- Clear strategy focused on generating free cash flow and maintaining solid balance sheet
- Exploration opportunity on under-explored land package of over 21,000 hectares
- Cost reduction initiative underway to drive down costs by approximately $100/oz
- Refreshed management
- Building on a strong ESG foundation