GALIANO GOLD ANNOUNCES BUYOUT OF OFFTAKE AGREEMENT
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Galiano Gold Inc. has terminated its gold purchase and sale agreement with Red Kite Opportunities Master Fund Limited for $13 million. This agreement required Galiano to sell all gold production from the Asanko Gold Mine at a spot price chosen by Red Kite.
December 04, 2024 | 10:15 pm
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Galiano Gold Inc. has terminated its gold purchase agreement with Red Kite, allowing it more flexibility in selling gold from the Asanko Gold Mine.
The termination of the agreement allows Galiano Gold to sell its gold production at market prices, potentially increasing revenue. This strategic move is likely to positively impact the company's financial flexibility and stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100