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Bullboard - Stock Discussion Forum Galiano Gold Inc T.GAU

Alternate Symbol(s):  GAU

Galiano Gold Inc. is a Canada-based company, which owns the Asanko Gold Mine, which is located in Ghana, West Africa. The Asanko Gold Mine is a multi-deposit complex, with four main open-pit mining areas: Abore, Miradani North, Nkran and Esaase, and multiple satellite deposits, situated on the Asankrangwa Gold Belt, and a 5.8 metric tons per annum carbon-in-leach processing plant. The Asanko... see more

TSX:GAU - Post Discussion

Galiano Gold Inc > DRP Current Status
View:
Post by nozzpack on Jan 02, 2024 1:28pm

DRP Current Status

See excerpts below..........So, presumably direct mining of Damang ended in late 2023, with the final two years processing of stockpiles.

There are signifucant exploration opportunities which, if this putative new deal with Gold Fields reaches reality, provide GAU with two years of solid low cost cash flows which, in the interim , would fund the development of new gold resources and resumption of gold production..

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Importantly, LOM extension opportunities have been  the focus for studies at Damang.
 
Exploration at Damang during 2022 focused on extensional and infill drilling of the Damang mini cutback (MCB) volume, the Juno Mineral Resources pit shell and the Tamang-Nyame corridor for future mine design and pre-feasibility studies.

 
Damang is approaching the end of the successfully implemented DRP, which commenced in 2017.

Mining operations are planned to end in 2023 after the depletion of the Huni pit, while processing of stockpiles is planned to continue until 2025."
Comment by matt2018 on Jan 02, 2024 2:59pm
how close is this asset to the Asanko mine?
Comment by nozzpack on Jan 02, 2024 3:55pm
Within reasonabke trucking distance. Each have their own processing plants with Damang treating predominantly fresh ore and Asanko both fresh and oxide.
Comment by nozzpack on Jan 02, 2024 4:23pm
You must remember that Gold Fieds still have substantial debt under declining production and increasing AISC . Just my thoughts but we could get another sweet heart deal here for just modest equity..
Comment by matt2018 on Jan 02, 2024 7:30pm
Interesting take nozz. What would Gold Fields then possibly do with Tarkwa?  That would be last asset left in Ghana for them.  The big stuff for them is in South Africa.  
Comment by nozzpack on Jan 03, 2024 12:07am
The same question occurred to me as that is now their only gold asset being mined  in Ghana. Taking additional equity in GAU as partial payment for Tarkwa would enable them to have part of their cake and eat it too while the cash portion would pay down more of their debt. Tarkwa and what might be developed by further exploration of DRP would boost GAU production above 500,000 ounces and into ...more