Q1 2026 Galiano Gold Inc Earnings Call Transcript

May 14, 2026 / 02:30 PM GMT

Release Date Price: C$3.62 (+1.12%)

Transcript

Key Points

Positve

Galiano Gold Inc (GAU) reported no lost time injuries in Q1, extending their LTI-free period to over 12 months, highlighting a strong safety culture.
The Sanka Gold Mine marked its 10th year of continuous operations, producing over 1.9 million ounces of gold, with Q1 production slightly above the midpoint of the forecast.
The company ended the quarter with a strong balance sheet, holding $115 million in cash and a total liquidity of approximately $190 million.
Exploration activities showed promising results, with significant progress in expanding mineral reserves at Asasi and growing underground resources at Abore.
Galiano Gold Inc (GAU) generated record revenues of $166 million and cash flows from operations of $47 million, benefiting from a strong gold price environment.

Negative

Headline earnings were impacted by losses on hedges, with about 45,000 ounces left to settle, affecting the company's ability to fully participate in gold prices.
The company faces increased costs due to a new sliding scale royalty regime enacted in March, raising the royalty rate to 12%.
There has been some inflationary pressure, particularly on diesel costs, which could impact the overall cost structure if it persists.
The company's ASIC guidance for 2026 is between $2,300 and $2,600 per ounce, reflecting the increased royalty burden and potential cost pressures.
Despite positive operational performance, Galiano Gold Inc (GAU) trades at a discount compared to its African peers, indicating a valuation disconnect.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

GAU.TO - Galiano Gold Inc
Q1 2026 Galiano Gold Inc Earnings Call
May 14, 2026 / 02:30PM GMT

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Presentation
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Unidentified_1 [1]
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Hello, and welcome to the Galliano Gold first quarter results call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. If you would like to ask a question during this time, simply press star followed by the number 1 on your telephone keypad.

If you would like to withdraw your questions, simply press star 1 again.

I'll now turn the conference over to Matt Badlach, Galliano's CEO. Please go ahead.

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Unidentified_2 [2]
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Thank you, operator, and good morning,

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