Galiano Gold Inc.
For the period ended Dec 31, 2025. Filed Feb 13, 2026.
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Dec 31, 2025 · Filed Feb 13, 2026
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EX-99.4 · Processing
Processing
The AGM produced 37,574 ounces of gold during Q4 2025, an increase of 15% from Q3 2025, as the processing plant milled 1.4 Mt of ore at an average grade of 1.0 g/t gold with metallurgical recovery averaging 91%.
FY 2025 gold production of 121,191 ounces, a 5% increased compared to FY 2024, and within revised FY 2025 guidance range.
With the secondary crushing circuit at the AGM processing plant commissioned (in late July 2025), milling performance in December 2025 achieved nameplate annual capacity of 5.8 Mt.
Processing cost per tonne for Q4 2025 was $12.13, 4% lower than Q3 2025 and 23% lower than Q4 2024. The decrease in processing cost per tonne in Q4 2025 was driven by more tonnes milled compared to Q3 2025 and Q4 2024, which decreased fixed processing costs on a per unit basis.
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