Galiano Gold Inc.’s Post

Transcript

My name is Matt Badylak, I'm the CEO of Galiano Gold. We're really pleased with the progress that we've made with regards to the restart of operations. The technical report was released earlier this year and the intent of that was to clarify to the market a realistic future for the Asanko gold mine. We've described that now over 8 1/2 year mine live where we'll be producing over 200,000 oz per year in that duration at a reasonably low all in sustaining cash cost and we've made inroads already this year. Starting our execution process of that life of mine plan with a contractor already mobilised to site and the first earthworks already commencing there to execute that mining plan as part of our exploration pipeline. There's a couple of interesting developments on that front. The first one is the prospect called Gyagyatreso. It's still early stages at the moment there, but we certainly have identified continuations of mineralisation there that are of interest and we'll be looking at continuing to drill that target out to a potential resource stage in 2024, in addition to Gyagyatreso, we've also conducted a significant soil sampling program in the north of our properties at a Sky Gold tenement. What's interesting there is that we found a significant sized soil anomaly that stretches about four kilometres and we are looking to follow up there relatively early in in 2024 to see whether or not we can also identify a larger resource there at Sky Gold A. So as of Q3 this year, our cash position remained extremely strong. The company has no debt and $56 million of cash at the corporate level. In addition to that we do have $140 million of cash at the joint venture which has been generated over the course of the last 18 months. At Galliano we commenced the year with an objective to provide some clarity to the market with respect to the the asset that we own while at the same time meeting targets with regards to our production costs and also generating cash at at the joint venture. We did that very successfully throughout the course of the year. We've also through that process positioned ourselves to be able to acquire the other half of the Asanko Gold Mine. We're certainly excited about what the future holds. Even prior to this transaction announcement, we're in a position where this company could double production in the next 24 months and now on the back of this on 100% basis what that actually means for Galliano shareholders is that we're quadrupling production in that same period of time. So very, very pleased and excited about what this means for the value proposition of this company. And certainly would like to make a mention of all the team both here in Canada, our team in in Ghana and the stakeholders around the the asset that have supported us throughout the last 12 months and have allowed us to be in a position to move the company forward.