GAU - Galiano Gold: Lower-Grade At Esaase Resulted In A Large Impairment Charge
- 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.
For further details see:
Galiano Gold: Lower-Grade At Esaase Resulted In A Large Impairment Charge