H.C. Wainwright asserts a Buy rating on Galiano Gold Inc. (GAU) as Q3 Results Impress

Core Insights - Galiano Gold Inc. has received a Buy rating from H.C. Wainwright with a price target of $3.20 following positive Q3 results [1][2] Group 1: Q3 Performance - The company mined 1.3 million tons (Mt) of ore at the Abore deposit, a 57% increase from Q2, with an average grade of 0.9 grams per ton (g/t) gold [2] - At the Esaase deposit, Galiano mined 0.1 Mt of ore at an average grade of 0.7 g/t gold [2] - Mining costs averaged $3.38 per ton, which is 6% lower than Q2 2025 [2] - Galiano processed 32,533 ounces of gold, marking a 7% increase from the previous quarter [2] Group 2: Financial Position - The company exited the quarter with a strong cash position of $116.4 million [3] - Galiano is finalizing a $75 million revolving credit facility with FirstRand Bank Limited [3] Group 3: Operational Insights - Galiano Gold operates the Asanko Gold Mine in Ghana, which it jointly owns with Gold Fields, focusing on gold production and exploration for new deposits [3] - The Abore drilling program is yielding promising results, extending a mineralized system 200 meters below the current Mineral Reserve across a 1,600-meter strike length [2]