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Galiano Gold Receives Proxy Advisory Firm Recommendations for AGM Vote.
ByAinvest
Thursday, May 22, 2025 8:32 am ET1min read
Galiano Gold Inc. announced that proxy advisory firms ISS and Glass Lewis have recommended shareholders vote FOR all proposed resolutions at the company's Annual General Meeting of Shareholders, to be held virtually on June 12, 2025. The proxy voting deadline is June 10, 2025.
Galiano Gold Inc. (NYSE:GAU) has announced that proxy advisory firms ISS and Glass Lewis have recommended shareholders vote FOR all proposed resolutions at the company's Annual General Meeting of Shareholders, scheduled to take place virtually on June 12, 2025. The proxy voting deadline is June 10, 2025 [NUMBER:1].The proxy advisory firms' recommendations follow the release of Galiano's Q1 2025 results, which highlighted the company's transition from current operations to significant development work aimed at future growth. Despite facing temporary production constraints due to a processing plant shutdown, Galiano maintained a stable financial position with strong operational cash flow of $25.9 million [NUMBER:1].
Key highlights of the Q1 results include:
- Gold production of 20,734 ounces, with sales of 26,994 ounces at an average realized price of $2,833 per ounce.
- Revenue of $76.6 million, resulting in income from mine operations of $15.4 million and EBITDA of $25.6 million.
- Exploration success at Abore, revealing a new high-grade zone with notable intercepts, including 50 meters at 3.2 g/t gold from 100 meters depth [NUMBER:1].
Galiano's strong financial position, with $106 million in cash and cash equivalents as of March 31, 2025, and no debt, provides flexibility to fund its development activities. The company's updated five-year outlook projects a substantial increase in production, with output expected to rise by approximately 75% from 2024 levels over the next 20 months [NUMBER:1].
Investors are encouraged to review the detailed proxy voting materials and make informed decisions by the June 10, 2025, deadline. Galiano's progress in development and exploration will be closely watched as the company aims to deliver on its promised production growth while maintaining cost discipline.
References:
[1] https://www.investing.com/news/company-news/galiano-gold-q1-2025-slides-production-set-to-increase-75-as-exploration-yields-highgrade-results-93CH-4048311
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