Prnewswireยท2025-08-13 21:14Core Viewpoint - Galiano Gold Inc. reported strong operational and financial results for Q2 2025, highlighting significant increases in gold production, revenue, and cash flow, alongside improvements in safety metrics and ongoing development projects at the Asanko Gold Mine in Ghana [1][10][23]. Operational Highlights - No lost-time injuries or total recordable injuries were recorded during Q2 2025, with 12-month rolling LTI and TRI frequency rates at 0.42 and 0.97 per million hours worked, respectively [4]. - Mining activities focused on the Abore and Esaase deposits, with 1.4 million tonnes of ore mined at an average grade of 0.8 grams per tonne gold and a strip ratio of 5.9:1 [4]. - The company milled 1.2 million tonnes of ore at an average feed grade of 0.8 g/t gold, achieving a metallurgical recovery rate of 89% [4][10]. Financial Performance - Galiano produced 30,350 ounces of gold in Q2 2025, a 46% increase from Q1 2025, and sold 29,287 ounces at an average realized price of $3,317 per ounce, generating total revenue of $97.3 million [10][23]. - The company reported income from mine operations of $37.2 million for Q2 2025, compared to $23.6 million in Q2 2024, driven by higher revenues [23]. - Cash flow from operating activities reached $35.8 million in Q2 2025, significantly up from $4.5 million in the same quarter of the previous year [21][23]. Cost and Capital Expenditures - Total cash costs for Q2 2025 were $1,602 per ounce, with all-in sustaining costs (AISC) at $2,251 per ounce, reflecting a 10% decrease compared to Q1 2025 [10][20]. - Sustaining capital expenditures were $2.2 million, while development capital expenditures totaled $4.9 million during Q2 2025 [10][20]. - The company incurred $6.9 million in capitalized development pre-stripping costs at the Nkran deposit during Q2 2025 [10][20]. Exploration and Development - A deep step-out drilling program at the Abore deposit yielded positive results, confirming mineralization over a significant strike length, indicating potential for further exploration [8][20]. - The construction of a secondary crushing circuit at the AGM processing plant was completed, expected to enhance throughput capacity [20][10]. - The company remains on track to meet its production guidance for 2025, with expectations of producing between 130,000 to 150,000 ounces of gold [15].