Galiano Gold says Ghana mine costs to be “elevated” in 2025
GALIANO Gold has forecast gold production of between 130,000 to 150,000 ounces for the 2025 financial year increasing to 200,000 oz annually within two years.This compares to 2024 production announced on January 14 which was 115,115 oz, below its revised guidance of 120,000 to 130,000 oz. Gold production this year would be weighted towards the second half as Galiano worked through mill upgrades and dealt with hard ore from existing operating pits.The company has not yet provided its all-in sustaning costs for the year, but said AISC for 2025 would range between $1,750 to $1,950 per gold ounce sold.Galiano Gold, which mines Asanko Gold Mines in Ghana, had previously targeted long-term gold production of about 250,000 oz/year.Commenting on AISC guidance for 2025, CEO Matt Badylak said it was “elevated … compared to future years” owing to lower gold production. He said “crushing constraints” as a result of hard ore from AGM’s Abore pit would be supplemented with softer material from Esaase, another pit in the complex.Galiano also said it had replaced its mineral ore reserves following a successful exploration campaign at AGM. As of December 31, it put out a mineral reserve estimate of 2.06 million oz of gold consisting of 47.1 million tons of ore grading at 1.36 grams per ton.Galiano Gold turned a major corner in December when it terminated a gold purchase and sale agreement with metals trader and lender Red Kite, paying it $13m. This gives Galiano’s AGM 100% exposure to the spot gold price which increased 27% in 2024 and is tipped to continue rising this year, albeit at a slower rate.The post Galiano Gold says Ghana mine costs to be “elevated” in 2025 appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com
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