Galiano Gold Q1 2026: $46.7M Operating Cash Flow, 34,747 Oz Gold Output
Galiano Gold ended Q1 2026 with $114.9 million in cash, zero debt and $46.7 million in operating cash flow, up 80% year-over-year, driving adjusted EBITDA of $93.4 million, a 364% increase. The Asanko mine produced 34,747 ounces of gold (68% higher) and sold 34,181 ounces at a record average price of $4,857/oz.
1. Financial Results
Galiano Gold reported cash and cash equivalents of $114.9 million as of March 31, 2026, no debt and generated $46.7 million of cash from operations in Q1, an 80% year-over-year increase that drove net income of $0.13 per share and adjusted EBITDA of $93.4 million, up 364%.
2. Production and Processing
The Asanko Gold Mine mined 1.5 Mt of ore at 0.9 g/t and milled 1.3 Mt at 90% recovery, producing 34,747 ounces of gold (a 68% gain) and selling 34,181 ounces at a record average of $4,857/oz despite a planned five-day maintenance shutdown.
3. Development, Costs and Exploration
Development of Nkran Cut 3 advanced with 4.7 Mt of waste mined and $13.5 million of pre-stripping capitalized; all-in sustaining costs fell 6% to $2,361/oz while FY2026 AISC guidance was raised to $2,300–$2,600/oz due to royalty changes. Exploration drilling at Abore and Esaase extended mineralization at depth and along strike, expanding the drill program to 33,000 m.