The company maintained full-year production targets and projected 2026 all-in sustaining costs of $2,300–$2,600 per ounce.
Galiano Gold reported second-quarter gold production of 34,391 ounces, bringing first-half output to over 69,000 ounces, aligning with the upper end of its 60,000–70,000-ounce guidance. The company maintained full-year production and cost projections, citing strong performance from the Abore deposit, which supplied 77% of mill feed in Q2.
Revenue for the quarter reached $156.6 million, with adjusted EBITDA at $78.5 million. Galiano remained debt-free but had $26 million in restricted cash due to a legal dispute. The company also increased its 2026 exploration budget to $25 million to advance Esaase resource conversion and Abore growth.
Management expects Nkran to contribute significant ore only in late 2028 or 2029, despite a $22.1 million pre-stripping investment in Q2. The focus remains on extending mine life and preparing for a potential 2027 production increase.