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Galiano Gold: Lower-Grade At Esaase Resulted In A Large Impairment Charge

Apr. 01, 2022 4:45 PM ETGaliano Gold Inc. (GAU), GAU:CA8 Comments
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  • Galiano Gold announced that 4Q21 gold revenue was $91.075 million based on 51,368 ounces sold at an average gold realized price of $1,771 per ounce.
  • Galiano Gold reported that gold production at the Asanko gold mine in Ghana was 50,278 ounces during 4Q21, down 23.3% from 65,571 ounces produced in 4Q20.
  • As the Asanko Gold Mine was not in a position to declare mineral reserves, the Joint Venture recorded a $153.2 million impairment charge.
  • I recommend trading short-term GAU. I suggest buying GAU at or below $0.55.
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Note: Galiano Gold (NYSE:GAU) currently operates and manages the Asanko gold mine or AGM, located in Ghana, West Africa, jointly owned with Gold Fields (GFI). Also, Galiano Gold owns the Asumura project indicated below.


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This article was written by

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Fun Trading is a retired engineer and independent investor. In addition to writing on investing in all aspects of gold, oil, and gas, he runs his own portfolio..

Analyst’s Disclosure: I/we have a beneficial long position in the shares of GAU either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I bought GAU below $0.55 today.

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Comments (8)

@Fun Trading Good morning here if I look the cash position and the capitalization is rather possible that GFI could buy all stocks. What do you think about it ?
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Yes, it is always possible and could be a plus for Galiano gold shareholders. By the way, KGC is also selling its Chirano stakes in Ghana. Some consolidation is going on. However, accumulate a small position around 0.52 or lower and wait for some news.

Best of luck
Thanks for the write up.. Any concerns of a R/S at some point even though this trades on the AMEX..
Fun Trading profile picture

Always a risk but for GAU it would take a lot. AMEX has no $1 threshold but could eventually force the company to reverse split anyway. It is not likely right now.
@Fun Trading Thanks for the response.. I tried to google the compliance standards and they are a bit convoluted.. I inadvertently have $GAU in 3 different accounts, I may need to consolidate them into one account as not to get hit with 3 expensive re-org fees in case they do R/S..
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Yes, it is a good idea, but as I said, the reverse split is very unlikely with AMEX. I remember only one case below $1, which got a warning of delisting because of low stock value. However, the risk is not zero.
I have bought GAU from under $0.55 to $0.5085, and my position is only a trading position.
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