Galiano Gold Inc (Asanko Gold)
Galiano Gold Inc (Asanko Gold)
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Gold production from the Asanko Gold Mine in Ghana, West Africa, eased to 49,543oz in the Sept 2021 qtr (Q3 21) from Q2 21’s 50,421oz, generating revenue of $US85.2M from the sale of 48,435oz at an average realized price of $1,758oz.
Ore tonnes mined from Asanko, a 50/50 J/V between Galiano Gold and Gold Fields, was up to 1.46Mt from 1.33Mt, with an average grade mined of 1.3g/t from 1.2g/t, ore processed up to 1.54Mt from 1.47Mt and gold recovery easing to 90% from 94%.
Galiano Gold preliminary Mar 21 qtr (Q1 21) production from its 50/50 J/V Asanko Gold Mine in Ghana, W Africa, with Gold Fields has fallen to 59,999oz from Q4 20’s 65,571oz on a 100% basis.
Galiano Gold (formerly Asanko Gold) has taken a big hit in the September 2020 qtr (Q3 20), with net income from its 50/50 JV Asanko Gold Mine in Ghana, West Africa, plunging to $US3.2M from Q2 20’s $14.7M on gold production down to 48,974oz from 69,026oz.
Galiano Gold’s (formerly Asanko Gold) June 2020 qtr (Q2 20) after tax net income from its 50/50-owned Asanko Gold Mine in Ghana, West Africa, has plunged to $US14.7M from Q1 20’s $21.8M, despite record gold output up to 69,026oz from 66,333oz (100% basis) and the processing of a record 1.64Mt of ore from 1.4Mt.
The Asanko Gold Mine J/V in Ghana, W Africa, has posted another record milling/production qtr with June 2020 qtr (Q2 20) gold production (100% basis) up to 69,772oz from Q1 20’s 66,333oz on the processing of a record 1.64Mt of ore from 1.4Mt.
Record Mar 2020 qtr (Q1 20) gold production from the Asanko Gold Mine in Ghana, West Africa, to 66,333oz from Q4 19’s 66,112oz has lifted 50% J/V partner Galiano Gold’s (formerly Asanko Gold) after tax profit for the qtr to $US21.8M from Q4 19’s $21.2M loss.
Adjusted net income jumped to $21.9M from $900,000 on revenue up to $104.8M from $97.1M, income from mine operations to $48.4M from $9.1M, albeit with cash from operations easing to $37M from $45.4M and adjusted EBITDA up to $21.9M from $12.6M.
Asanko Gold has posted its best qtr since commercial production began 4-years ago at its Asanko Gold Mine in Ghana in W Africa, posting record Mar 2020 qtr (Q1 20) gold production (100% basis) of 66,333oz from Q4 19’s 66,112oz with AISC down to $US805oz from $969oz.
Asanko Gold’s 50/50 J/V Asanko Gold Mine in Ghana with Gold Fields has posted record Dec 2019 year (FY/CY19) gold production of 251,044oz from FY/CY18’s 223,152oz (100% basis), exceeding the upper end of 225,000oz-245,000oz guidance.
The output resulted in record proceeds of $US342.4M from gold sales up to 248,862oz from 227,772oz at an average realized price up to $1,376oz from $1,247oz. Preliminary AISC were 5% above guidance of $1,040-$1,060oz at $1,112oz.
Despite attributable Sept 2019 qtr (Q3 19) gold production down to 523,000oz from Q2 19’s 541,000oz, South African-based Gold Fields has lifted revenue (excluding Asanko) to $US1.46B from $1.29B.
However, FY/CY19 attributable gold equivalent production is now expected to be at the upper end of expectations of 2.13Moz-2.18Moz, at AISC $US980oz-$995oz and AIC of $1,075oz-$1,095oz.
Gold Fields now eyeing the top end of FY/CY19’s 2.13Moz-2.18Moz guidance, despite Q3 19 gold production fall