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Galiano Gold Inc.
11/8/2024
Good morning. My name is Ludi and I will be your conference operator today. At this time, I would like to welcome everyone to the Galeano Gold Inc. 3rd Quarter 2024 Financial Results Conference 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 question, please press the star followed by the number two. Thank you. Mr. Matt Badalak, President and CEO of Galliano Gold, you may begin your conference.
Thank you, Operator, and good morning, everyone. We appreciate you taking time to join us on the call today to review our third quarter 2024 Galliano results we released last night. We will be making forward-looking statements and referring to non-IFRS measures during the call. Please refer to the cautionary notes and risk disclosures in our most recent MD&A as well as this slide of the webcast presentation. Yesterday's release details our third quarter 2024 financial and operating results. They should be read in conjunction with our third quarter financial statements and MD&A available on our website and filed on CEDAR Plus and EDGAR. Also, please bear in mind that all dollar amounts mentioned in the conference call today are in US dollars unless otherwise noted. On slide four, with me on the call today, I have Matt Freeman, our Chief Financial Officer, and Michael Cardinals, our recently appointed Chief Operating Officer. For this presentation, I'll initially go through the highlights. Michael will give an operations update, and Matt will discuss the financials. I'll then provide some closing remarks and open the call for Q&A. Here on slide five, please note that I'm discussing Galliano's results on a 100% basis. I'm pleased to report that as mining at Abora advanced, gold production rose by 13% this quarter, reaching nearly 30,000 ounces. Mine productivity continued to ramp up and we saw a 32% increase in total tons mined, moving 10.4 million tonnes of material over the quarter. On the financial side, despite investing close to $40 million in stripping activities at Abore this year, Galliano's liquidity remains robust. We are in a strong position with approximately $121 million of cash on hand and continue to be debt free. During the quarter, the team made significant progress on the work related to the life of mine optimisation, the updated mineral reserves and resources, and the planning to restart the NCRAN pit. At NCRAN, we advanced discussions with a preferred mining contractor, and mining rates and costs are now clearly defined. This information will inform our life of mine plan, which we anticipate completing and releasing to the markets in early Q1 2025. On the exploration front, while results were quieter this quarter, we continue to advance the AGM exploration pipeline, with drilling focused on the Sky Gold B and Abore North targets. Drilling at Sky Gold B began in August with approximately 5,200 metres of air core, RC and diamond drilling aimed at testing the highest priority targets. We expect to complete drilling and receive all assays in Q4. We should then be in a position to share results from this first phase. The follow-up drilling program at the Coma target has been defined and is scheduled to commence in Q4. Now, turning it over to Michael and a discussion on our progress in operations during the quarter. Slide six, please.
Thank you, Matt, and good morning, everyone.
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