Galiano Gold: Strong Cash Flows at Gold Mine in Africa
250 thousand ounces of gold last year
Galiano Gold is a precious metals producer engaged in the operation, development and exploration of mineral properties. The company’s vision is to create a sustainable business capable of long term value creation for its stakeholders.
Moreover, the company currently operates and manages the Asanko Gold Mine in Ghana, West Africa. Galiano is also strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.
“We have an exciting exploration program planned for Q2 and Q3 of this year,” says CEO, Greg McCunn.
More on the Asanko Gold Mine
The Asanko Gold Mine is located in Ghana, West Africa. Galiano and Gold Fields both have a 45% economic interest in the mine, with the Government of Ghana holding the remaining 10%. Galiano is the manager and operator.
Further, the mine 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 2019, the mine also exceeded the upper-end of guidance with record gold production of 251,044 gold ounces. Additionally, in 2020 the mine is targeting 225,000 to 245,000 ounces of gold production at all-in sustaining costs of $1,000 to $1,100/oz (100% basis).
The Asanko Gold Mine is a multi-deposit complex, with two main deposits, Nkran and Esaase, and multiple satellite deposits, situated on the Asankrangwa Gold Belt, and a 5Mtpa carbon-in-leach (CIL) processing plant. Gold production commenced in January 2016 and commercial production was declared on April 1, 2016.
Further, approximately 2,400 people are employed at the mine. 99% of the total workforce are Ghanaians, of which around 41% are from our host communities.
For more information on Galiano Gold Inc. (TSX: GAU, NYSE American: GAU) please fill out the form below.