Galiano Gold Q1 Output Jumps 68% on Robust Asanko Performance
Over 70% of this tonnage originated from the Abore deposit.
SEATTLE (Scrap Monster): The first quarter of 2026 proved to be excellent, both operationally and financially, for Galiano Gold Inc.
This strong performance was driven by the increased throughput and efficiency at Galiano's 90% interest Asanko Gold Mine, in Ghana.
As of March 31, 2026, Galiano had cash and cash equivalents of $114.9 million with zero debt. Operating cash flow rose by 80% to $46.7 million, and adjusted EBITDA increased by 364% to $93.4 million over the year; income from mining operations amounted to $72.5 million, with a net income per share, basic of $0.13.
During the first quarter of 2026, Galiano mined 1.5 million tonnes of ore at an average grade of 0.9 grams per tonne of gold.
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Over 70% of this tonnage originated from the Abore deposit. The mill processed 1.3 million tonnes of ore at a metallurgical recovery of 90%; this level of recovery was achieved despite a planned five-day scheduled maintenance downtime resulting in mill availability of 89%.
Production for the quarter was up 68% to 34,747 ounces of gold, and sales totaled 34,181 ounces of gold, at a record high average of $4,857 per ounce of gold for the quarter.
Nkran Cut 3 development proceeded as planned, with 4.7 million tonnes of waste mined, and $13.5 million in capitalized pre-stripping costs.
The successful results from Abore and Esaase exploration prompted a $7.5 million increase in the exploration budget for 2026.
All-in sustaining cost guidance for the year was reissued at $2,300 to $2,600 per ounce of gold, owing to adjustments in Ghana's royalty structure, yet annual production guidance for 2026 remained on target at between 140,000 and 160,000 ounces.