Buy Rating for Galiano Gold: Strong Revenue Growth and Promising Exploration Results
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Heiko Ihle from H.C. Wainwright has maintained a Buy rating on Galiano Gold with a price target of $3.20, citing strong revenue growth of 61% year-over-year due to higher gold prices and sales volume. Despite a net loss from non-operational expenses, core mining operations remain robust. Promising exploration results at the Abore deposit have led to an increased budget for future growth. The favorable gold price environment and strategic investments in the Asanko Gold Mine are expected to boost profitability, while geopolitical risks are acknowledged in the valuation.
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