Galiano Gold Reports Q1 2025 Production and Financial Results with $76.6 Million in Revenue

Galiano Gold reported Q1 2025 gold production of 20,734 ounces at an AISC of $2,501/oz, impacted by a 14-day plant shutdown. Gold sales reached 26,994 ounces at an average price of $2,833/oz, generating $76.6 million in revenue. Despite a net loss of $0.10 per share, the company maintains a strong cash position with $106.4 million and no debt. Galiano Gold forecasts production improvements in upcoming quarters.

Galiano Gold Inc. ("Galiano" or the "Company") (TSX: GAU) (NYSE American: GAU) has released its first quarter ("Q1") 2025 production and financial results. The company owns a 90% interest in the Asanko Gold Mine ("AGM") located on the Asankrangwa Gold Belt in the Republic of Ghana, West Africa. All financial information contained in this news release is unaudited and reported in United States dollars.

Production and Processing
In Q1 2025, Galiano reported 20,734 ounces of gold production, impacted by a 14-day plant shutdown due to repairs on the Semi-Autogenous Grinding ("SAG") mill. The company milled 1.1 million tonnes of ore at an average feed grade of 0.8 grams per tonne ("g/t"), with metallurgical recovery averaging 87%. The AGM processing plant was offline for 14 days, reducing quarterly production by approximately 4,500 to 5,000 ounces. The repairs to the SAG mill were completed during Q1 2025. Throughput remains constrained until a secondary crushing circuit is commissioned during Q3 2025.

Financial Performance
Galiano sold 26,994 ounces of gold at an average realized price of $2,833 per ounce ("/oz"), generating $76.6 million in revenue. The company reported total cash costs of $1,730/oz and all-in sustaining costs ("AISC") of $2,501/oz. Sustaining capital expenditures of $1.3 million and development capital expenditures (excluding Nkran pre-stripping costs) of $3.3 million were reported. The company generated cash flow from operating activities of $25.9 million and reported a net loss of $0.10 per common share and adjusted net income of $0.01 per common share. Adjusted EBITDA was $19.0 million.

Exploration
The company completed 5,543 meters of infill drilling at the Abore deposit, leading to the discovery of a new high-grade zone immediately below the mineral reserve pit shell at the south end of the Abore Main pit. The infill drilling increased confidence in the mineral reserve and mineral resource in the area in and around the known high-grade zone at the Abore South pit, while also increasing the strike length of this zone from 90m to 180m.

Outlook
Galiano's President and CEO, Matt Badylak, stated, "Having completed the first quarter, our mining operations, including the commencement of stripping at Nkran, are ramping up according to plan. Production and costs realized in the first quarter are not reflective of management's expectations for the balance of the year. Mill throughput and grade are planned to improve quarter on quarter and the secondary crusher commissioning remains on schedule." The company expects production improvements in upcoming quarters.

References
[1] https://www.prnewswire.com/news-releases/galiano-gold-reports-q1-production-and-financial-results-302455837.html