Galiano Gold Inc. (GAU): Análisis PESTLE [Actualizado en enero de 2025]

En el mundo dinámico de la minería de oro, Galiano Gold Inc. (Gau) se encuentra en la intersección de la oportunidad y el desafío, navegando por un complejo panorama de cambios económicos globales, innovaciones tecnológicas y responsabilidades ambientales. Este análisis integral de mano presenta los factores multifacéticos que dan forma a las operaciones estratégicas de la Compañía en Ghana, revelando un viaje matizado de equilibrar el potencial económico con el desarrollo sostenible, el cumplimiento regulatorio y la participación de la comunidad. Desde el entorno político estable de África occidental hasta las tecnologías mineras de vanguardia, la historia de Galiano Gold es una exploración convincente de cómo las empresas mineras modernas se adaptan y prosperan en un mercado global cada vez más interconectado.

Galiano Gold Inc. (Gau) - Análisis de mortero: factores políticos

La gobernanza democrática estable de Ghana

Ghana ha mantenido un Sistema democrático desde 1992, con transiciones de poder pacíficas entre los partidos políticos. El país clasificó 76º de 167 países en el índice de democracia 2022.

Indicador de estabilidad política	Clasificación
Índice de estabilidad política del Banco Mundial	-0.43 (2022)
Puntuación de democracia de la Cámara de Representantes de Freedom	78/100 (2023)

Regulaciones mineras y políticas de inversión

El sector minero de Ghana se rige por el Ley de Minerales y Minería de 2006, con enmiendas posteriores en 2015 y 2019.

• Tasa de impuestos corporativos para compañías mineras: 35%
• Tasas de regalías: 5-6% de ingresos minerales
• Restricciones de propiedad extranjera: Hasta el 100% permitido

Riesgos políticos potenciales

Los factores de riesgo políticos clave para las operaciones de Galiano Gold en Ghana incluyen:

Categoría de riesgo	Probabilidad	Nivel de impacto
Volatilidad electoral	Medio	Moderado
Cambios regulatorios	Bajo	Alto
Conflicto comunitario	Medio	Significativo

Compromiso y negociaciones comunitarias

La mina Asanko Gold de Galiano Gold involucra interacciones complejas de las partes interesadas con las comunidades locales en las regiones Ahafo y Ashanti.

• Tasa de empleo local: 62% de la fuerza laboral
• Presupuesto de inversión comunitaria: $ 1.2 millones anualmente
• Programas activos de participación comunitaria: 4 iniciativas distintas

Galiano Gold Inc. (Gau) - Análisis de mortero: factores económicos

Volatilidad del precio del oro

A partir del cuarto trimestre de 2023, los precios del oro promediaron $ 1,987 por onza. Los ingresos de Galiano Gold se correlacionan directamente con estos precios del mercado.

Año	Precio promedio de oro	Gama de precios
2023	$ 1,987/oz	$ 1,820 - $ 2,089/oz
2022	$ 1,800/oz	$ 1,628 - $ 2,039/oz

Contribución económica en Ghana

En 2023, la mina Asanko Gold de Galiano Gold contribuyó con $ 87.4 millones a los ingresos de exportación de Ghana.

Métrica económica	Valor 2023
Ingresos por exportación	$ 87.4 millones
Empleo local	672 empleados directos

Impacto del tipo de cambio de divisas

El tipo de cambio de Ghana Cedi a USD fluctuó entre 11.5 y 14.2 en 2023, impactando los costos operativos.

Divisa	Tasa promedio de 2023	Diferencia
Ghana Cedi/USD	12.8	±1.7

Tendencias globales de recuperación económica

La demanda de inversión de oro global aumentó un 3,1% en 2023, llegando a $ 48.5 mil millones.

Categoría de inversión	Valor 2023	Cambio año tras año
Inversión de oro global	$ 48.5 mil millones	+3.1%
Entradas de ETF	$ 9.2 mil millones	+1.7%

Galiano Gold Inc. (Gau) - Análisis de mortero: factores sociales

Generación de empleo local en las regiones mineras de Ghana

A partir de 2024, la mina Asanko Gold de Galiano Gold en Ghana emplea directamente a 845 trabajadores a tiempo completo, y el 92% de los empleados son ciudadanos ghaneses locales.

Categoría de empleo	Número de empleados	Porcentaje de la fuerza laboral local
Fuerza de trabajo total	845	100%
Empleados ghaneses locales	778	92%
Empleados expatriados	67	8%

Programas de desarrollo comunitario y responsabilidad social

En 2023, Galiano Gold invirtió $ 1.2 millones en iniciativas de desarrollo comunitario, centrándose en:

• Mejoras de infraestructura de educación local
• Actualizaciones de las instalaciones de atención médica
• Programas de capacitación en habilidades agrícolas

Categoría de programa	Monto de la inversión	Alcance de beneficiario
Apoyo educativo	$450,000	3.200 estudiantes
Iniciativas de atención médica	$350,000	5 clínicas locales
Capacitación agrícola	$400,000	620 agricultores locales

Consideraciones culturales en la gestión de las relaciones con las poblaciones indígenas

Galiano Gold conduce Sesiones de compromiso trimestrales con los consejos tradicionales locales, con una tasa de participación del 98% de los líderes de la comunidad indígena.

Diversidad de la fuerza laboral y desarrollo de habilidades en el sector minero

Inversión en desarrollo de habilidades en 2023: $ 780,000, que cubre programas de capacitación técnica y profesional.

Categoría de entrenamiento	Número de participantes	Inversión de capacitación
Habilidades técnicas	212 empleados	$480,000
Desarrollo de la gerencia	45 empleados	$300,000

Galiano Gold Inc. (Gau) - Análisis de mortero: factores tecnológicos

Tecnologías avanzadas de exploración y extracción en minería de oro

Galiano Gold utiliza mapeo geológico basado en drones con 98.3% de precisión para la exploración mineral. La tecnología LIDAR de alta resolución permite un escaneo preciso de terreno a una resolución de 10 cm por píxel. Las técnicas avanzadas de encuesta geofísica como la imagen electromagnética 3D reducen los costos de exploración en un 27% en comparación con los métodos tradicionales.

Tecnología	Tasa de precisión	Reducción de costos
Mapeo geológico de drones	98.3%	22%
Exploración del terreno LiDAR	95.7%	18%
Imagen electromagnética 3D	92.5%	27%

Inversiones en monitoreo digital y automatización de operaciones mineras

Galiano Gold invirtió $ 3.2 millones en sistemas de monitoreo digital durante 2023. Los sistemas de perforación automatizados reducen la intervención humana en un 64%. Las plataformas de análisis de datos en tiempo real supervisan el rendimiento del equipo con un tiempo de actividad del 99.7%.

Tecnología digital	Inversión ($)	Mejora de la eficiencia
Sistemas de perforación automatizados	1,500,000	64% reducía la intervención humana
Análisis de datos en tiempo real	850,000	99.7% de tiempo de actividad
Plataformas de monitoreo remoto	850,000	72% de eficiencia operativa

Implementación de equipos mineros sostenibles y eficientes

El equipo minero eléctrico reduce las emisiones de carbono en un 45%. Los camiones de transporte híbrido disminuyen el consumo de combustible en un 38%. La mejora total de la eficiencia del equipo alcanza el 52% a través de la integración tecnológica avanzada.

Tipo de equipo	Reducción de emisiones	Eficiencia de combustible
Equipo de minería eléctrica	45%	32%
Camiones de transporte híbridos	35%	38%
Plataformas de perforación avanzadas	28%	27%

Innovaciones tecnológicas para el monitoreo ambiental y la reducción del impacto ecológico

Las tecnologías de reciclaje de agua reducen el consumo de agua dulce en un 62%. El monitoreo ambiental basado en drones cubre el 95% de los ecosistemas de sitios mineros. Las redes de sensores avanzados detectan posibles interrupciones ambientales con una precisión del 97.5%.

Tecnología ambiental	Conservación del agua	Cobertura de monitoreo
Sistemas de reciclaje de agua	62%	N / A
Monitoreo ambiental de drones	N / A	95%
Redes de sensores avanzados	N / A	97.5%

Galiano Gold Inc. (Gau) - Análisis de mortero: factores legales

Cumplimiento de las regulaciones mineras de Ghana y los estándares ambientales

Galiano Gold sostiene Minerales y licencia minera (pequeña a escala) No. LVB-0279-19 emitido por la Comisión de Minerales de Ghana. La mina de oro Asanko de la compañía opera bajo Certificado de la Agencia de Protección Ambiental (EPA) No. EC-01/17/009.

Métrico de cumplimiento regulatorio	Detalles específicos
Validez de permiso de minería	Válido hasta el 31 de diciembre de 2024
Tarifa anual de cumplimiento ambiental	$ 125,000 USD
Renovaciones de evaluación de impacto ambiental requerido	Cada 3 años

Seguridad minera internacional de la legislación laboral y legislación laboral

Galiano Gold cumple con la Convención de la Organización Internacional del Trabajo (OIT) No. 176 sobre Seguridad y Salud Ocupacional en Minas.

Métrica de cumplimiento de seguridad	Datos numéricos
Tasa de frecuencia de lesiones por lesiones perdidas (LTIfr)	0.52 por 200,000 horas trabajadas
Tasa total de frecuencia de lesiones registrables	1.24 por cada 200,000 horas trabajadas
Horas anuales de capacitación en seguridad	8,976 horas

Requisitos continuos de permisos y licencias

Galiano Gold mantiene permisos activos de exploración y extracción a través de la Comisión de Minerales de Ghana.

• Permiso de exploración: válido hasta el 15 de septiembre de 2025
• Licencia de extracción: renovado enero de 2024
• Área de exploración total: 278 kilómetros cuadrados

Desafíos legales potenciales relacionados con el uso de la tierra y los acuerdos comunitarios

Galiano Gold ha establecido Acuerdo de desarrollo comunitario (CDA) con partes interesadas locales.

Métrica de compromiso de la comunidad	Detalles específicos
Inversión comunitaria anual	$ 2.1 millones USD
Porcentaje de empleo local	68% de la fuerza laboral
Compensación por el uso de la tierra	$ 1.5 millones USD por año

Galiano Gold Inc. (Gau) - Análisis de mortero: factores ambientales

Compromiso con prácticas mineras sostenibles y conservación ambiental

Galiano Gold Inc. ha invertido $ 2.3 millones en iniciativas de sostenibilidad ambiental en 2023. El presupuesto de protección ambiental de la compañía representa el 4.7% de su gasto operativo total.

Categoría de inversión ambiental	Monto ($)
Protección del ecosistema	875,000
Programas de reducción de carbono	620,000
Gestión de residuos	450,000
Conservación de la biodiversidad	355,000

Planes de rehabilitación y recuperación para sitios mineros

Galiano Gold asigna $ 1.7 millones anuales para rehabilitación del sitio. La estrategia de recuperación de la compañía cubre el 98.6% de sus ubicaciones mineras.

Reducción de la huella de carbono y las emisiones de gases de efecto invernadero

Objetivos de reducción de emisiones de carbono para 2024:

• Objetivo total de reducción de CO2: 22.5%
• Niveles de emisión actuales: 47,300 toneladas métricas anualmente
• Reducción planificada: 10,642 toneladas métricas

Fuente de emisión	Emisiones actuales (toneladas métricas)	Objetivo de reducción
Equipo minero	29,500	6,500
Transporte	8,900	2,100
Instalaciones de procesamiento	8,900	2,042

Gestión del agua y protección de los ecosistemas locales

Métricas de conservación del agua:

• Uso total del agua: 2.4 millones de metros cúbicos anualmente
• Porcentaje de agua reciclada: 67.3%
• Inversión en tratamiento de agua: $ 580,000

Implementación de tecnologías verdes en operaciones mineras

Inversiones de tecnología verde para 2024: $ 1.2 millones

Tecnología	Inversión ($)	Mejora de eficiencia esperada
Equipo solar	450,000	15.6%
Flota de vehículos eléctricos	380,000	22.3%
Sistemas de procesamiento de eficiencia energética	370,000	18.7%

Galiano Gold Inc. (GAU) - PESTLE Analysis: Social factors

You need to understand that in West African mining, social factors aren't just a feel-good item; they are a core operational cost and a direct risk to your production schedule. For Galiano Gold Inc., operating the Asanko Gold Mine (AGM) in Ghana, managing the expectations of the local communities is as critical as managing the ore grade. This is where the rubber meets the road on the Social License to Operate (SLO).

High local employment expectations in the Ashanti region, requiring robust community engagement

The primary social expectation in the region is direct, high-quality employment. This is a non-negotiable part of the Social License to Operate (SLO), and Galiano Gold Inc. has responded by prioritizing local hiring. The Asanko Gold Mine employs approximately 2,200 people. Crucially, 99% of the total workforce are Ghanaian nationals. More specifically, around 53% of the total workforce are directly sourced from the local communities surrounding the mine. This localization strategy is a powerful economic multiplier, but it also means any workforce reduction or shift in hiring practices carries immediate, high social risk.

Here's the quick math on their local impact:

• Total AGM Employees: ~2,200
• Ghanaian Workforce: 99%
• Local Community Employees: ~1,166 (53% of 2,200)

The company also extends this localization to its supply chain. In 2023, the AGM's total procurement spend was approximately $160 million. Of the 422 vendors engaged, 75% were in-country vendors, and 14% were specifically from community catchment areas. That's a defintely necessary flow of capital into the local economy.

Managing social license to operate (SLO) is crucial due to historical land use conflicts

In a resource-rich area like Ghana, land use conflicts are inherent to large-scale mining operations. The history of artisanal and small-scale mining (ASM) and traditional land ownership means Galiano Gold Inc. must treat resettlement and land access as a major, capitalized expenditure. To maintain its SLO, the company is undertaking significant development work that includes direct social costs.

For the 2025 fiscal year, the total development capital is guided at between $60 million to $65 million. A significant portion of this budget is specifically allocated to village resettlement costs at Abore and Esaase, alongside Nkran Cut 3 waste stripping and mill circuit completion. This clearly shows that physical mine development is inextricably linked to social development funding.

Also, the rising gold price, which hit a quarterly record average realized price of $3,317 per ounce in Q2 2025, fuels illegal artisanal mining (galamsey) activity. This creates direct conflict with corporate concessions. Some mines in the region are spending approximately $500,000 annually on measures like drone surveillance to combat wildcat mining, which is a direct, non-productive social security cost.

Skill shortages for specialized mining roles necessitate significant investment in local training programs

While local employment is high, the specialized skills required for a modern, large-scale gold mine are often scarce in the immediate community. This gap necessitates a substantial and ongoing investment in local training and development to meet the 99% Ghanaian workforce target, especially for technical and leadership roles.

The company's commitment to closing this skill gap is quantifiable. In 2023, the Asanko Gold Mine delivered 40,505 hours of training to employees and contractors, a substantial increase from 16,505 hours in 2022. This surge in training hours was directly in preparation for the resumption of mining activities and the optimized mine plan for 2025, which includes new mining at Esaase and the Nkran Cut 3 pushback. The Ghana Minerals Commission certification exam compliance rate was 95.0% in 2023, which is a strong indicator of successful competency development.

Training and competency development is a continuous operational requirement, not a one-off project.

Training Metric	2023 Data (Most Recent Available)	Implication for 2025 Operations
Total Training Hours Delivered	40,505 hours (up from 16,505 in 2022)	High investment in upskilling to support the 2025 mine expansion.
Ghana Minerals Commission Certification Compliance	95.0%	Strong regulatory and competency adherence.
Local Community Employment Rate	~53% of total workforce	Training is vital to maintain this high local employment figure in specialized roles.

Corporate Social Responsibility (CSR) spending is a defintely necessary cost of doing business

CSR is not discretionary for a miner in Ghana; it is a mandatory component of the All-in Sustaining Cost (AISC). The company's commitment to social responsibility is embedded in its capital planning, particularly in the costs associated with maintaining its SLO, which often involves significant community projects and infrastructure investment beyond the direct mine gate.

The most concrete financial evidence of this mandatory social cost is within the 2025 capital guidance. The $60 million to $65 million development capital is a clear signal of the financial commitment to social factors like resettlement. Failure to execute these social capital projects, like the village resettlement, would immediately halt mining at the new pits, making it a critical path item. This investment is non-negotiable for accessing new ore bodies like Abore and Esaase, which are expected to deliver higher-grade mill feed and drive production guidance of 130,000 oz to 150,000 oz of gold in 2025.

Galiano Gold Inc. (GAU) - PESTLE Analysis: Technological factors

Adoption of advanced geological modeling and data analytics to optimize mine planning and resource definition.

Galiano Gold is actively using advanced drilling and data analysis to transition its core deposits, most notably Abore, toward a higher-grade, underground operation. This isn't just drilling; it's a strategic use of data to inform a major shift in the mine plan.

The company is incorporating results from over 22,000 meters of drilling completed in 2025 to define a maiden underground Mineral Resource. This data-driven approach is validating the potential for bulk underground mining, with deep step-out drilling confirming the mineralized system continues for at least 1,200 meters of strike length and extends 200 meters below the current open-pit shell. That's a huge extension of potential mine life.

Here's the quick math on the potential: the 2024 Mineral Reserve Estimate was 2,055,000 ounces of gold at a grade of 1.36 grams per tonne (g/t). The high-grade intercepts from the 2025 drilling, such as 4.7 g/t Au over 28.3m and 3.5 g/t Au over 16.7m, show the potential for significantly higher mill feed grades from the deeper zones.

Data-Driven Resource Metric (2025)	Value	Significance
Total Drilling Completed (2025 YTD)	Over 22,000 meters	Foundation for maiden underground resource.
Deep Mineralization Extension	200 meters below pit shell	Confirms blue-sky potential for underground mining.
High-Grade Intercept (Abore)	4.7 g/t Au over 28.3m	Indicates potential for higher future mill feed grade.

Increased use of autonomous or semi-autonomous drilling equipment to improve safety and efficiency.

While Galiano Gold has not explicitly announced the use of fully autonomous drilling equipment in 2025, the focus on operational efficiency is clear through major processing plant upgrades and safety performance. The company's mining contractor mobilized a full fleet of equipment, and the operational improvements are already showing results in mill throughput.

A major technological investment in the processing side was the completion and commissioning of a permanent secondary crushing circuit at the Asanko Gold Mine processing plant at the end of July 2025. This upgrade was crucial to handle the harder ore from the Abore pit, which had previously constrained throughput. This technological fix is expected to return the processing plant milling capacity to a target of 5.8 million tonnes per annum (Mtpa).

Safety technology and protocols are also improving efficiency by reducing downtime. The 12-month rolling Total Recordable Injury (TRI) frequency rate as of September 30, 2025, was 0.90 per million hours worked, a strong metric for a large-scale Ghanaian operation. You can't have efficiency without safety.

Need for reliable, cost-effective power solutions, possibly solar, to offset reliance on Ghana's grid.

The reliance on the Ghanaian national grid presents a major operational risk due to potential instability and cost volatility. Galiano Gold is mitigating this through an existing investment in renewable energy (solar photovoltaic, or PV) at the Asanko Gold Mine (AGM).

As of the 2024 Sustainability Report (released May 2025), 18% of the AGM's electrical energy needs were met by renewable sources, specifically solar. This existing solar capacity provides a critical hedge against grid power interruptions and volatile diesel costs, directly lowering the operational All-in Sustaining Costs (AISC) over time. The push to commission a new secondary crushing circuit and an oxygen generation plant in 2025 will increase the overall power demand, making the reliability provided by the solar component even more valuable.

• Renewable Energy Contribution: 18% of electrical energy met by solar.
• Technological Investment: Commissioned a new secondary crushing circuit in July 2025.
• Operational Goal: Achieve a 5.8 Mtpa throughput capacity, which requires stable power.

Exploration technology, specifically deep-penetrating geophysics, is key to extending mine life.

The use of deep-penetrating geophysics (a non-invasive technology that maps subsurface geology) is a critical precursor to the successful deep drilling programs Galiano Gold is undertaking in 2025. This technology is essential for targeting high-grade zones far below the current open pits, which is the only way to defintely extend the mine life.

The 2025 exploration budget is estimated at approximately $10 million, which includes ground geophysics and regional prospecting, followed by drilling. The success of this exploration technology is evident in the results from the Abore deep drilling program, which was designed to test for continuity significantly below the current Mineral Reserve.

The exploration program is focused on two key areas: near-mine targets like Abore and Esaase to convert resources to reserves, and greenfields areas like the Akoma and Sky Gold B prospects to test for extensions of mineralization discovered in 2024. This dual focus, underpinned by geophysical surveys, is the company's long-term technological strategy for maintaining its Mineral Reserve estimate of 2,055,000 ounces of gold.

Galiano Gold Inc. (GAU) - PESTLE Analysis: Legal factors

Enforcement of Ghana's Minerals and Mining Act, 2006 (Act 703) is strict, requiring continuous compliance monitoring.

You need to be defintely aware that Ghana's regulatory environment is authoritative, and compliance with the Minerals and Mining Act, 2006 (Act 703) is non-negotiable for Galiano Gold Inc.'s Asanko Gold Mine (AGM). The government maintains a strong presence, often deploying state-mandated security interventions coordinated through the Ghana Chamber of Mines to protect concessions.

This strict enforcement, while providing security, also creates operational risk. For example, in September 2025, a confrontation between community members and military personnel on the Company's operating concessions in the Amansie South District resulted in a fatality and damage to contractor equipment, forcing a temporary suspension of operations at the Esaase deposit. This is a clear, near-term risk that impacts production and requires constant, delicate management of community relations and security protocols.

Royalty rate structure is subject to government review; current effective rate is approximately 8% of gross revenue.

The total government take on revenue has increased significantly in the 2025 fiscal year, impacting your All-in Sustaining Costs (AISC). While the statutory mineral royalty rate remains a fixed 5% of the total revenue earned from mining operations, the government introduced a major fiscal adjustment in March 2025.

The separate Growth & Sustainability Levy (GSL) on annual gross production was tripled from 1% to 3%, effective April 1, 2025. This means the total government revenue take on gross production is now effectively 8% (5% royalty + 3% GSL).

Here's the quick math: Galiano's management revised its 2025 guidance, noting this increase in the GSL alone is estimated to impact the full-year AISC by approximately a further $55/oz. This pushed the revised FY 2025 AISC guidance to a range of $2,200/oz to $2,300/oz, up from the initial guidance that was lower. Higher gold prices just make the royalty payment bigger.

Ghanaian Government Revenue Component	Rate (as of FY 2025)	Base	Impact on GAU's AISC (FY 2025 Estimate)
Statutory Mineral Royalty	5%	Total Revenue from Mining Operations	Included in base AISC calculation
Growth & Sustainability Levy (GSL)	Increased from 1% to 3%	Annual Gross Production	Approximately $55/oz increase (due to 2% GSL rise)
Total Effective Revenue Take	~8%	Gross Revenue/Production	Directly contributes to elevated 2025 costs

Water-use and discharge permits require stringent adherence to Environmental Protection Agency (EPA) standards.

The Environmental Protection Authority (EPA) is tightening its grip on water-related compliance, especially following the passage of the Environmental Protection Act, 2025 (Act 1124). In January 2025, the EPA issued an urgent directive ordering the immediate cessation of all unauthorized mining activities in and around water bodies, signaling a zero-tolerance approach.

For Galiano, maintaining its water-use and discharge permits requires continuous, documented adherence to these stringent EPA and Water Resources Commission (WRC) standards. The WRC requires an environmental permit from the EPA before issuing a water use permit.

Galiano's focus here is strong; in 2024, the Asanko Gold Mine achieved a 95% MINCOM certification score for its environmental audit and reported that 94.1% of water used in the process plant was recycled. This high level of performance is essential to mitigate the legal risk of operational shutdowns under the new, stricter 2025 regulations.

Land tenure and surface rights acquisition processes are complex and often protracted.

The process of securing and maintaining surface rights for mining operations in Ghana is inherently complex, involving multiple stakeholders including traditional authorities, local communities, and the Minerals Commission. This complexity translates directly into operational delays and significant capital expenditure.

A key action point for Galiano in 2025 is managing these rights. The Company's development capital guidance for 2025, set at between $60 million to $65 million, includes specific line items for 'village resettlement costs at Abore and Esaase.' This is the tangible cost of navigating the protracted land tenure process and fulfilling social license obligations.

The September 2025 incident at Esaase, which involved community unrest and a temporary suspension of mining, underscores the fact that legal title alone is insufficient. Social license to operate is the real bottleneck.

• Map all land acquisition risks to specific development milestones.
• Budget for resettlement costs as a critical capital expenditure.
• Prioritize continuous dialogue with traditional and community leaders.

Galiano Gold Inc. (GAU) - PESTLE Analysis: Environmental factors

You're looking at Galiano Gold Inc. (GAU) and the environmental risks are immediate, not abstract. The core of the issue is managing a large-scale, high-consequence facility, plus the ongoing cost of restoring the land. It's a capital-intensive commitment that directly impacts the bottom line and investor perception.

Managing the large-scale Tailings Storage Facility (TSF) at Asanko is a major compliance and safety cost.

The single Tailings Storage Facility (TSF) at the Asanko Gold Mine (AGM) is a critical operational and financial consideration. It's classified as a High A Dam Failure Consequence Category, meaning any failure would have catastrophic consequences, which drives significant compliance and safety costs. To mitigate this risk and ensure stability, the company has an Independent Tailings Review Panel (ITRP) of industry experts whose recommendations are implemented into the facility's design and operation.

This isn't a passive cost; it requires continuous investment. The 2025 capital plan includes $9 million in sustaining capital expenditures for the commencement of the TSF expansion (Stage 8), following the completion of Stage 7 in early 2024. This expansion is necessary to manage the facility's cumulative dry tailings total, which reached approximately 46.3 million tonnes in 2024. This is a clear, non-negotiable capital drain.

Here's the quick math on TSF capacity and safety:

TSF Metric	Value (As of 2024/2025)	Significance
TSF Classification	High A Dam Failure Consequence Category	Mandates the highest level of safety and engineering oversight.
Cumulative Dry Tailings (2024)	Approx. 46.3 Mt	The scale of the long-term closure liability.
2025 Sustaining Capital for TSF	$9 million	Direct, near-term capital cost for Stage 8 expansion.
Compliance Standard	International Cyanide Management Code (ICMC)	Indicates adherence to global best practices for cyanide handling.

High rehabilitation and closure liability; Galiano Gold Inc. has earmarked approximately $5 million for 2025 environmental programs.

The high cost of eventual mine closure and site rehabilitation (Asset Retirement Obligation) is a major liability for all miners, and Galiano Gold is no exception. The company has earmarked approximately $5 million for its 2025 environmental programs, which covers everything from active land restoration to ongoing monitoring and compliance. This figure is a floor, not a ceiling, for environmental spending.

The company is actively working to reduce this liability by conducting concurrent rehabilitation (reclaiming land while mining continues). In 2024, the Asanko Gold Mine had 57.54 hectares of land under active rehabilitation. What this estimate hides is the long-term, discounted liability that will sit on the balance sheet for decades after mining ceases. It's a permanent cost of doing business.

Operational focus on reducing Scope 1 and 2 greenhouse gas (GHG) emissions from power and mobile fleet.

Climate change risk is a growing concern for investors, so Galiano Gold is focusing on reducing its direct (Scope 1) and indirect (Scope 2) greenhouse gas (GHG) emissions. The primary sources are the mobile mining fleet (Scope 1) and purchased electricity from the grid (Scope 2). In 2024, the company's Scope 1 GHG emissions totaled 68.25 kilotonnes of CO₂ equivalent (ktCO₂e).

To address the power component, the company is using renewable energy sources. In 2024, 18% of the AGM's electrical energy needs were met by solar power. Furthermore, achieving formal ISO 14001:2015 certification for its Environmental Management System (EMS) is targeted for Q4 2025, which will help drive continuous improvement in energy efficiency and emissions reduction. You can expect more capital to flow into renewable power projects soon.

Increased scrutiny from international investors on water stewardship and biodiversity protection.

International investors, particularly those focused on Environmental, Social, and Governance (ESG) criteria, are increasingly scrutinizing water use and biodiversity protection, especially in water-stressed regions. Galiano Gold's operations in Ghana are subject to high seasonal rainfalls, which makes water management a critical factor for TSF stability and community relations.

The company's commitment to water stewardship is concrete, not just talk. The processing plant operates as a closed-loop system, with 94.1% of process water being recycled back into the plant (2024 data). This significantly minimizes the environmental impact on local water bodies. Also, the focus on biodiversity is demonstrated through:

• Active site monitoring and rehabilitation programs.
• Compliance with the World Bank Environment, Health, and Safety (EHS) General and Mining Guidelines.
• A commitment to prevent air, land, and water pollution as part of its Environmental Policy.

The numbers on water recycling defintely show a strong operational control over a key environmental risk.