GAU - Galiano Gold: A Miss On Revised Guidance For This Junior Producer
- Galiano Gold continues to be one of the worst performing gold producers sector-wide, sliding more than 65% from its Q3 2020 highs.
- Unfortunately, the company's Q4 and FY2021 results at the Asanko Gold Mine JV didn't help matters, with annual output coming in well below guidance.
- The good news is that resource growth looks likely given the drilling success at near-mine targets, and 2023 should benefit from higher grades if access to Nkran-C3 is expedited.
- However, with Galiano being a high-cost single-asset producer in a Tier-3 jurisdiction, I believe there are several more attractive ways to play the sector, especially for investors that are risk-averse.
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Galiano Gold: A Miss On Revised Guidance For This Junior Producer