Galiano reports gold production at Asanko in Q3 in line with guidance
(Kitco News) - Yesterday, Galiano Gold (TSX:GAU) (NYSE American: GAU) reported that in Q3 2021, gold production at theAsanko gold mine in Ghana was 49,543 ounces, virtually unchanged from 48,974ounces produced in Q3 2020 and in line with 2021 production guidance.
The company said that Q3 2021gold revenue was on plan at $85.2 million generated from 48,435 ounces sold atan average realized price of $1,758 per ounce.
Importantly, Galiano addedthat stripping at Akwasiso advanced throughout the quarter and will becompleted in Q4.
"Production for Q3remained at similar levels to Q2 as we continued to develop Akwasiso for itsthird phase of mining," said President and CEO Matt Badylak. "WithAkwasiso pivoting to sustainable ore delivery in Q4 we expect gold productionto revert to historical levels with per unit costs trending downwardspositioning the AGM well for the achievement of restated full year guidance."
In its statement, Galianoalso pointed out that it continues to remain on schedule to publish its updatedReserve and Resource statement in Q4 of this year.
Galiano currently operatesand manages the Asanko gold mine, located in Ghana, West Africa, which isjointly owned with Gold Fields.
By Vladimir BasovFor Kitco News
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