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Galiano Gold Inc. (GAU) is a Canadian penny stock to buy, according to H.C. Wainwright analyst Heiko Ihle. The company's Q3 results impressed, with a 57% increase in ore mined at the Abore deposit and a 7% increase in gold processing. Galiano Gold ended the quarter with a strong cash position of $116.4 million and is finalizing a $75 million revolving credit facility. The analyst reiterated a Buy rating and set a $3.20 price target.

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