Barrick(US:GOLD) Prnewswireยท2025-01-28 22:06Core Viewpoint - Galiano Gold Inc. has provided an updated five-year production outlook for its Asanko Gold Mine, projecting significant production growth and cost management strategies to enhance operational efficiency and financial strength [2][3][4]. Production Outlook - The Asanko Gold Mine is expected to produce between 130,000 oz to 150,000 oz of gold in 2025, with all-in sustaining costs (AISC) projected between $1,750/oz to $1,950/oz [4][9]. - Production growth is anticipated to increase by approximately 75% from 2024 levels over the next 24 months, driven by higher-grade mill feed from the Abore and Esaase deposits [7][9]. Financial Guidance - The company maintains a strong cash balance of over $100 million and no debt, which positions it well for future investments and operational improvements [3]. - Total sustaining capital expenditures are guided at $15 million for 2025, with development capital estimated between $60 million to $65 million [5][6]. Exploration and Resource Management - Exploration expenditures for 2025 are estimated at approximately $10 million, focusing on increasing mineral reserves and resources at Abore and targeting new discoveries [7]. - The mineral reserve estimate as of December 31, 2024, totals 2,055,000 ounces of gold, with a focus on optimizing mine plans to maximize ore supply and reduce operational risks [12][13]. Five-Year Production Forecast - The five-year outlook indicates a gradual increase in gold production, with projections of 180,000 to 210,000 oz in 2026, 190,000 to 220,000 oz in 2027, and reaching up to 260,000 oz by 2029 [9]. - AISC is expected to decrease over the years, reaching $1,100 to $1,400 per ounce by 2029, reflecting improved operational efficiencies [9]. Operational Strategy - The mine plan prioritizes larger deposits to enhance flexibility and mitigate risks associated with smaller pits, with a focus on optimizing production from Abore and Esaase [3][10]. - Significant pit wall pushback at Nkran is expected to commence by mid-2025 to access high-grade ore at depth [7].