Galiano Gold Inc. (GAU): Analyse du Pestle [Jan-2025 MISE À JOUR]

Dans le monde dynamique de l'extraction d'or, Galiano Gold Inc. (GAU) se tient à l'intersection des opportunités et du défi, naviguant dans un paysage complexe de changements économiques mondiaux, d'innovations technologiques et de responsabilités environnementales. Cette analyse complète du pilon dévoile les facteurs à multiples facettes qui façonnent les opérations stratégiques de l'entreprise au Ghana, révélant un parcours nuancé d'équilibrer le potentiel économique avec le développement durable, la conformité réglementaire et l'engagement communautaire. De l'environnement politique stable de l'Afrique de l'Ouest aux technologies miniers de pointe, l'histoire de Galiano Gold est une exploration convaincante de la façon dont les entreprises minières modernes s'adaptent et prospèrent sur un marché mondial de plus en plus interconnecté.

Galiano Gold Inc. (GAU) - Analyse du pilon: facteurs politiques

Gouvernance démocratique stable du Ghana

Le Ghana a maintenu un Système démocratique depuis 1992, avec des transitions de pouvoir pacifiques entre les partis politiques. Le pays classé 76e sur 167 pays dans l'indice de démocratie 2022.

Indicateur de stabilité politique	Notation
Indice de stabilité politique de la Banque mondiale	-0.43 (2022)
Score de démocratie de la Freedom House	78/100 (2023)

Réglementations minières et politiques d'investissement

Le secteur minier du Ghana est régi par le Minerals and Mining Act de 2006, avec des modifications ultérieures en 2015 et 2019.

• Taux d'imposition des sociétés pour les sociétés minières: 35%
• Taux de redevance: 5-6% des revenus minéraux
• Restrictions de propriété étrangère: Jusqu'à 100% permis

Risques politiques potentiels

Les principaux facteurs de risque politiques des opérations de Galiano Gold au Ghana comprennent:

Catégorie de risque	Probabilité	Niveau d'impact
Volatilité électorale	Moyen	Modéré
Changements réglementaires	Faible	Haut
Conflit communautaire	Moyen	Significatif

Engagement et négociations communautaires

La mine Asanko Gold de Galiano Gold implique des interactions complexes des parties prenantes avec les communautés locales dans les régions d'Ahafo et d'Ashanti.

• Taux d'emploi local: 62% de la main-d'œuvre
• Budget d'investissement communautaire: 1,2 million de dollars par an
• Programmes d'engagement communautaire actifs: 4 initiatives distinctes

Galiano Gold Inc. (GAU) - Analyse du pilon: facteurs économiques

Volatilité des prix de l'or

Au quatrième trimestre 2023, les prix de l'or étaient en moyenne de 1 987 $ l'once. Les revenus de Galiano Gold sont directement en corrélation avec ces prix du marché.

Année	Prix ​​d'or moyen	Fourchette
2023	1 987 $ / oz	1 820 $ - 2 089 $ / oz
2022	1 800 $ / oz	1 628 $ - 2 039 $ / oz

Contribution économique au Ghana

En 2023, la mine Asanko Gold de Galiano Gold a contribué 87,4 millions de dollars aux revenus d'exportation du Ghana.

Métrique économique	Valeur 2023
Revenus d'exportation	87,4 millions de dollars
Emploi local	672 employés directs

Impact de taux de change

Le Ghana Cedi au taux de change USD a fluctué entre 11,5 et 14,2 en 2023, ce qui a un impact sur les coûts opérationnels.

Devise	2023 Taux moyen	Variance
Ghana Cedi / USD	12.8	±1.7

Tendances de reprise économique mondiale

La demande mondiale d'investissement en or a augmenté de 3,1% en 2023, atteignant 48,5 milliards de dollars.

Catégorie d'investissement	Valeur 2023	Changement d'une année à l'autre
Investissement mondial d'or	48,5 milliards de dollars	+3.1%
Entraves ETF	9,2 milliards de dollars	+1.7%

Galiano Gold Inc. (GAU) - Analyse du pilon: facteurs sociaux

Génération d'emplois locale dans les régions minières du Ghana

En 2024, la mine d'or Asanko Gold de Galiano Gold au Ghana emploie directement 845 travailleurs à temps plein, 92% des employés étant des ressortissants ghanéens locaux.

Catégorie d'emploi	Nombre d'employés	Pourcentage de la main-d'œuvre locale
Total de main-d'œuvre	845	100%
Employés ghanéens locaux	778	92%
Employés expatriés	67	8%

Programmes de développement communautaire et de responsabilité sociale

En 2023, Galiano Gold a investi 1,2 million de dollars dans les initiatives de développement communautaire, en se concentrant sur:

• Améliorations des infrastructures d'éducation locale
• Mises à niveau des établissements de santé
• Programmes de formation des compétences agricoles

Catégorie de programme	Montant d'investissement	Reach bénéficiaire
Soutien à l'éducation	$450,000	3 200 étudiants
Initiatives de soins de santé	$350,000	5 cliniques locales
Formation agricole	$400,000	620 agriculteurs locaux

Considérations culturelles dans la gestion des relations avec les populations autochtones

Galiano Gold Conduis séances d'engagement trimestrielles avec les conseils traditionnels locaux, avec un taux de participation de 98% des dirigeants communautaires autochtones.

Développement de la diversité des effectifs et des compétences dans le secteur minier

Investissement en développement des compétences en 2023: 780 000 $, couvrant les programmes de formation technique et professionnelle.

Catégorie de formation	Nombre de participants	Investissement en formation
Compétences techniques	212 employés	$480,000
Développement de gestion	45 employés	$300,000

Galiano Gold Inc. (GAU) - Analyse du pilon: facteurs technologiques

Technologies avancées d'exploration et d'extraction dans l'extraction d'or

Galiano Gold utilise cartographie géologique à base de drones avec une précision de 98,3% pour l'exploration minérale. La technologie LiDAR haute résolution permet un balayage de terrain précis à une résolution de 10 cm par pixel. Les techniques de levé géophysique avancé comme l'imagerie électromagnétique 3D réduisent les coûts d'exploration de 27% par rapport aux méthodes traditionnelles.

Technologie	Taux de précision	Réduction des coûts
Cartographie géologique du drone	98.3%	22%
Scanner des terrains lidar	95.7%	18%
Imagerie électromagnétique 3D	92.5%	27%

Investissements dans la surveillance numérique et l'automatisation des opérations minières

Galiano Gold a investi 3,2 millions de dollars dans les systèmes de surveillance numérique en 2023. Les systèmes de forage automatisés réduisent l'intervention humaine de 64%. Les plates-formes d'analyse de données en temps réel surveillent les performances de l'équipement avec une disponibilité de 99,7%.

Technologie numérique	Investissement ($)	Amélioration de l'efficacité
Systèmes de forage automatisés	1,500,000	64% ont réduit l'intervention humaine
Analyse de données en temps réel	850,000	99,7% de disponibilité
Plates-formes de surveillance à distance	850,000	72% d'efficacité opérationnelle

Mise en œuvre d'équipements minières durables et efficaces

L'équipement d'extraction électrique réduit les émissions de carbone de 45%. Les camions de transport hybrides diminuent la consommation de carburant de 38%. L'amélioration totale de l'efficacité de l'équipement atteint 52% grâce à une intégration technologique avancée.

Type d'équipement	Réduction des émissions	Efficacité énergétique
Équipement d'exploitation électrique	45%	32%
Camions de transport hybrides	35%	38%
Plates-formes de forage avancées	28%	27%

Innovations technologiques pour la surveillance environnementale et la réduction de l'impact écologique

Les technologies de recyclage de l'eau réduisent la consommation d'eau douce de 62%. La surveillance environnementale à base de drones couvre 95% des écosystèmes du site minier. Les réseaux de capteurs avancés détectent les perturbations environnementales potentielles avec une précision de 97,5%.

Technologie environnementale	Conservation de l'eau	Couverture de surveillance
Systèmes de recyclage de l'eau	62%	N / A
Surveillance environnementale de drone	N / A	95%
Réseaux de capteurs avancés	N / A	97.5%

Galiano Gold Inc. (GAU) - Analyse du pilon: facteurs juridiques

Conformité aux réglementations minières du Ghana et aux normes environnementales

Galiano Gold tient Minéraux et permis d'extraction (petite échelle) n ° LVB-0279-19 Émis par la Commission des minéraux du Ghana. La mine d'or Asanko de l'entreprise fonctionne sous Certificat Agence de protection de l'environnement (EPA) n ° EC-01/17/009.

Métrique de la conformité réglementaire	Détails spécifiques
Validité du permis d'extraction	Valide jusqu'au 31 décembre 2024
Frais de conformité environnementale annuelle	125 000 USD
Renewals d'évaluation de l'impact environnemental requis	Tous les 3 ans

Adhésion à la législation internationale sur la sécurité et la main-d'œuvre minière

Galiano Gold est conforme à la Convention de l'Organisation internationale du travail (OIT) n ° 176 sur la sécurité et la santé au travail dans les mines.

Métrique de la conformité de la sécurité	Données numériques
Taux de fréquence des blessures du temps perdu (LTIFR)	0,52 pour 200 000 heures travaillées
Taux de fréquence des blessures totales totales	1,24 pour 200 000 heures travaillées
Heures de formation en sécurité annuelles	8 976 heures

Exigences en cours d'autorisation et de licence

Galiano Gold maintient une exploration active et des permis d'extraction par le biais de la Commission des minéraux du Ghana.

• Permis d'exploration: valable jusqu'au 15 septembre 2025
• Licence d'extraction: renouvelée janvier 2024
• Zone d'exploration totale: 278 kilomètres carrés

Défis juridiques potentiels liés à l'utilisation des terres et aux accords communautaires

Galiano Gold a établi Accord de développement communautaire (CDA) avec les parties prenantes locales.

Métrique de l'engagement communautaire	Détails spécifiques
Investissement communautaire annuel	2,1 millions USD
Pourcentage d'emploi local	68% de la main-d'œuvre
Compensation pour l'utilisation des terres	1,5 million USD par an

Galiano Gold Inc. (GAU) - Analyse du pilon: facteurs environnementaux

Engagement envers les pratiques minières durables et la conservation de l'environnement

Galiano Gold Inc. a investi 2,3 millions de dollars dans des initiatives de durabilité environnementale en 2023. Le budget de protection de l'environnement de la société représente 4,7% de ses dépenses opérationnelles totales.

Catégorie d'investissement environnemental	Montant ($)
Protection des écosystèmes	875,000
Programmes de réduction du carbone	620,000
Gestion des déchets	450,000
Conservation de la biodiversité	355,000

Plans de réhabilitation et de remise en état des sites miniers

Galiano Gold alloue 1,7 million de dollars par an pour la réadaptation du site. La stratégie de remise en état de l'entreprise couvre 98,6% de ses emplacements minières.

Réduction de l'empreinte carbone et des émissions de gaz à effet de serre

Cibles de réduction des émissions de carbone pour 2024:

• Objectif total de réduction du CO2: 22,5%
• Niveaux d'émission actuels: 47 300 tonnes métriques par an
• Réduction prévue: 10 642 tonnes métriques

Source d'émission	Émissions actuelles (tonnes métriques)	Cible de réduction
Équipement d'exploitation	29,500	6,500
Transport	8,900	2,100
Installations de traitement	8,900	2,042

Gestion de l'eau et protection des écosystèmes locaux

Métriques de conservation de l'eau:

• Utilisation totale de l'eau: 2,4 millions de mètres cubes par an
• Pourcentage d'eau recyclé: 67,3%
• Investissement au traitement de l'eau: 580 000 $

Mise en œuvre des technologies vertes dans les opérations minières

Green Technology Investments pour 2024: 1,2 million de dollars

Technologie	Investissement ($)	Amélioration attendue de l'efficacité
Équipement à énergie solaire	450,000	15.6%
Flotte de véhicules électriques	380,000	22.3%
Systèmes de traitement économe en énergie	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.