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Galiano Gold exceeds annual production guidance, generates record revenue in Ghana

Vladimir Basov

Kitco News

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(Kitco News) - Galiano Gold (TSX: GAU) (NYSE American: GAU) today reported preliminary Q4 and full-year 2020 operating results for the Asanko gold mine, located in Ghana, West Africa.

The company said that annual gold production of 249,904 ounces exceeded the upper end of 2020 production guidance of 225,000 - 245,000 ounces, with 65,571 ounces produced in the fourth quarter.

Galiano added that it has achieved highest recorded annual revenue of $418.1 million generated from gold sales of 243,807 ounces at an average realized price of $1,711/oz in 2020.

The processing plant delivered a record annual milling performance with throughput of 5.9 million tonnes, at an average plant feed grade of 1.4 g/t.

Preliminary all-in sustaining costs of $1,115/oz for 2020 were below revised guidance of $1,150/oz.

Galiano operates and manages the Asanko gold mine, located in Ghana, West Africa, which is jointly owned with Gold Fields.

By Vladimir Basov

For Kitco News

Contact vbasov@kitco.com
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