Business
Galiano Gold Reports First Quarter 2026 Results
Vancouver, British Columbia--(Newsfile Corp. - May 13, 2026) - Galiano Gold Inc. (TSX: GAU) (NYSE American: GAU) ("Galiano" or the "Company") is pleased to
About this update from Galiano Gold, Inc.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - May 13, 2026) - Galiano Gold Inc. (TSX: GAU) (NYSE American: GAU) (\"Galiano\" or the \"Company\") is pleased to report its first quarter (\"Q1\") 2026 operating and financial results. Galiano owns a 90% interest in the Asanko Gold Mine (\"AGM\") located on the Asankrangwa Gold Belt in the Republic of Ghana, West Africa. All financial information contained in this news release is unaudited and reported in United States dollars. Q1 2026 HIGHLIGHTS Safety No lost-time injuries (\"LTI\") nor total recordable injuries (inclusive of LTIs) (\"TRI\") recorded. The AGM has achieved 8.8 million hours worked without an LTI as of March 31, 2026. 12‐month rolling LTI and TRI frequency rates as of March 31, 2026 of 0.00 and 0.11 per million hours worked, respectively. Financial Cash and cash equivalents of $114.9 million as of March 31, 2026 and no debt. Generated cash flow from operating activities of $46.7 million during Q1 2026, an 80% increase from Q1 2025. Income from mine operations of $72.5 million during Q1 2026. Net income of $0.13 and adjusted net income1 of $0.11 per common share (basic) during Q1 2026. Adjusted EBITDA1 of $93.4 million during Q1 2026, an increase of 364% from Q1 2025. Mining Operations Mined 1.5 million tonnes (\"Mt\") of ore at an average mined grade of 0.9 grams per tonne (\"g/t\") gold with a strip ratio of 6.0:1. Approximately 70% of mined ore was from the Abore deposit. Processing 1.3 Mt of ore was milled at an average feed grade of 0.9 g/t, with metallurgical recovery averaging 90%. Mill availability during Q1 2026 was 89% due to a planned 5-day maintenance shutdown. Produced 34,747 ounces of gold, a 68% increase compared to Q1 2025, and in line with the Company's first half indicative production range. Sold 34,181 ounces of gold at a record quarterly average price of $4,857 per ounce (\"/oz\"), excluding the effect of realized losses on gold hedging instruments. Nkran Cut 3 Development Development of Cut 3 at the Nkran deposit continued with 4.7 Mt of waste mined. Additional mining equipment is expected to be mobilized during Q2 2026 and, thereafter, mined volumes at Nkran are forecast to increase significantly. Capitalized development pre-stripping costs at Nkran Cut 3 of $13.5 million. Costs All-in sustaining costs1 (\"AISC\") of $2,361/oz, a...