Alleen voor leden beschikbaar, wordt daarom gratis lid!

Algemeen advies 22/02/2023 16:20
Vancouver, British Columbia, February 22, 2023 – Galiano Gold Inc. (“Galiano” or the “Company”) (TSX, NYSE American: GAU), as operator of the Asanko Gold Mine (“AGM”) under the joint venture ("JV") with Gold Fields Ltd. (“Gold Fields") (JSE: GFI) (NYSE: GFI), is pleased to report the results of an
independent Feasibility Study report (“Independent FS”), which includes the reinstatement of Mineral Reserves, along with Galiano’s operating outlook at the AGM. The adoption and implementation of the revised life-of-mine (“LOM”) plan and the operating outlook remain subject to approval pursuant to the
JV agreement. The AGM located in Ghana, West Africa is a 50:50 JV with Gold Fields, which is managed and operated by Galiano. All figures are stated in US dollars unless otherwise stated.
The reinstated Mineral Reserve and updated Mineral Resource estimates, underpinning the Independent
FS, was led by SRK Consulting (Canada) Inc. (“SRK”) and was reported in accordance with National
Instrument 43-101 (“NI 43-101”). The Mineral Reserve estimate forms the basis of a revised LOM plan at
the AGM, encompassing 4 main open-pit mining areas: Abore, Miradani North, Esaase and Nkran, and 2
satellite deposits: Dynamite Hill and Adubiaso. The Independent FS demonstrates an operating plan with
a total LOM production of 1.85 million ounces (“Moz”) of gold, at an all-in-sustaining cost (“AISC”)1 of
$1,143 per oz. Production during the LOM averages 217,000 oz of gold per year. Using the base case of
$1,700 per oz gold price, the AGM has an after-tax net present value discounted at 5% (“NPV5%”) of $343
AGM Updated Independent FS Highlights - 100% basis, using a base case of $1,700/oz gold
• Robust mine economics: $478 million pre-tax NPV5% and $343 million after-tax NPV5%.
• Highly leveraged to the gold price: after-tax NPV5% of $535 million, at $1,900 per oz gold.
• Low cash costs: $905/oz average total cash costs1 and $1,143/oz average AISC¹
• Increased production profile: annual average gold production of 254,000 oz from 2025 to 2030,
• Mining to recommence in 2023: mining contractors expected to be in operation at Abore during the
fourth quarter.
• Reinstated Proven and Probable Mineral Reserves (assuming a gold price of $1,500/oz): 2.068 Moz
Au (48.9 Mt at 1.31 g/t Au).
• Increased Measured and Indicated Mineral Resources (assuming a gold price of $1,800/oz): 3.504
Moz Au (82.3 Mt at 1.32 g/t Au), inclusive of Mineral Reserves, representing an increase of +21% in
total ounces, compared to the previous Mineral Resource estimate dated February 28, 2022.
• Increased Inferred Mineral Resources (assuming a gold price of $1,800/oz): 1.084 Moz Au (25.1 Mt
at 1.34 g/t Au), representing an increase of +251% in total ounces, compared to the previous Mineral
Resource estimate dated February 28, 2022.
“On the back of significant exploration success, the new life of mine plan now includes four cornerstone
deposits at the Asanko Gold Mine. The plan demonstrates a solid production profile averaging 217,000
ounces per year with an extended mine life through 2031,” stated Matt Badylak, Galiano’s President and
Chief Executive Officer. “Restructuring our operating cost base in 2022 has in part enabled the life of mine
plan to achieve all-in-sustaining costs1 of $1,143 per ounce, which is expected to generate approximately
$500 million in cumulative cash flow over the mine life. Significant opportunities also remain to further
enhance the asset through both the continued optimization of operations, and exploration success on the
highly prospective Asankrangwa gold belt.
It is also important to note that the Joint Venture held $91 million of cash at December 31, 20222 placing
the AGM in a strong position to execute the life of mine plan, commencing with the restart of mining later
this year.”
The Independent FS was prepared in accordance with NI 43-101 and led by SRK with an effective date of
December 31, 2022. The Company will file a Technical Report on SEDAR at in accordance
with NI 43-101, and on its website within 45 days.
Table 1: LOM Highlights

see &

Beperkte weergave !
Leden hebben toegang tot meer informatie! Omdat u nog geen lid bent of niet staat ingelogd, ziet u nu een beperktere pagina. Wordt daarom GRATIS Lid of login met uw wachtwoord

Copyrights © 2000 by all rights reserved
Niets mag zonder toestemming van de redactie worden gekopieerd, linken naar deze pagina is wel toegestaan.