Galiano Gold Inc.
Galiano Gold (formerly Asanko Gold, renamed April 2020) holds a 90% interest in the Asanko Gold Mine in Ghana's Ashanti Gold Belt. Q1 2026 results showed production up 68% year-over-year, record revenue, and $32.7M profit as gold prices averaged $4,857/oz; the company ended Q1 2026 with $114.9M cash and no debt.
Notable vs. Peers
- Jurisdiction risk score of 6/10 is meaningfully riskier than the peer average of 7.8/10.
- Financials score of 8.2/10 is stronger than the peer average of 6.5/10.
- All-in sustaining cost of $2,361/oz is 31% higher than the peer producer average of $1,799/oz.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
- Jan 2016 · Source
- Apr 2016 · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Jurisdiction (40%)6/10
Ghana has an established mining code and hosts multiple major producers, but periodic galamsey (illegal artisanal mining) conflict and evolving royalty/tax pressure keep it below Tier-1 status.
Infrastructure (40%)10/10
A confirmed mill, confirmed road access, confirmed grid power, and a confirmed tailings facility at Asanko Gold Mine, Ashanti Gold Belt, Ghana.
Nearby producing mine (20%)8.8/10
Bibiani (Asante Gold Corporation) is 38 km away -- within regional-platform range.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:6.2/10
Nearest producing mine: Bibiani (Asante Gold Corporation), 38 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:5.5/10
Stage: Production
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:6/10
Ghana: jurisdiction score 6/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
President, Chief Executive Officer and Director of Galiano Gold Inc.
Executive Vice President and Chief Operating Officer of Galiano Gold Inc.
Executive Vice President and Chief Financial Officer of Galiano Gold Inc.; has also held senior financial reporting, risk management, treasury and M&A roles at SSR Mining Inc.
Vice President, Exploration at Galiano Gold Inc.
Senior Vice President, External Affairs & Sustainability at Galiano Gold Inc.
Vice President, Corporate Development at Galiano Gold Inc.
Vice President, Technical Services at Galiano Gold Inc.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Institutional ownership is very high (80%), and the register includes a genuine specialist alongside several generalists: Equinox Partners Investment Management, Sean Fieler's energy- and mining-focused hedge fund, holds a real 5.33% -- a stronger signal than the small Franklin and American Century gold-fund stakes previously noted here. Donald Smith & Co. (8.84%), Ruffer LLP (5.51%) and Aegis Financial Corp (5.40%) round out the disclosed register, all real but generalist deep-value/multi-asset managers rather than resource-sector conviction bets. Two directors bought stock on the open market in the past year, though larger selling by company officers offsets that buying. Gold Fields, the project's former joint-venture partner, sold its entire stake to Galiano in 2024 and is no longer a shareholder of note -- the opposite of a producer taking a position.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Galiano Gold, renamed from Asanko Gold in April 2020, holds 90% of the Asanko gold mine in Ghana's Ashanti Gold Belt, in commercial production since April 2016. Asanko's measured and indicated resource at 31 December 2025 is 3,440,000 oz of gold at 1.33 g/t, including a new underground resource at Nkran and Abore, and the ore reserve is 1.97 Moz. Its February 2023 feasibility study shows an after-tax NPV5% of US$343.3M at US$1,700/oz gold over an 8.5-year mine life producing 1.846 Moz. Q2 2026 production was 34,391 oz, with 35,247 oz sold at an average of US$4,432/oz, and all-in sustaining cost was US$2,361/oz in Q1 2026. Drilling at Abore has extended mineralisation up to 180 m below the existing underground resource.