Galiano sales Gold over 53K Oz
Produced over 48K Oz of gold in 3Q Galiano Gold, formerly Asanko Gold Inc- reports third quarter- Q3, 2020 operating and financial results for the Asanko Gold Mine, located in Ghana, West Africa. The Q3 2020 Asanko Gold Mine report said, Quarterly gold production of 48,974 ounces at an all-in sustaining cost of $1,488/oz. Gold sales of 53,975 ounces at an average realized price of $1,861/oz, generating gold sales proceeds of $100.5 million. Net income after tax of $12.4 million generated operating cash flow of $18.5 million and negative free cash flow1 of $4.2 million after incurring $14.2 million of non-sustaining capital and exploration expenditure. As at September 30, 2020, the JV had cash of $43.3 million, $16.3 million in receivables from gold sales and $4.3 million in gold on hand, with the RMB revolving credit facility of $30.0 million fully drawn. Completed a 33-hole drilling program at the Nkran pit to confirm and improve confidence in the Mineral Reserve esti...