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Non-GAAP Information

In addition to disclosing results determined in accordance with GAAP, Galiano may also disclose certain non-GAAP and pro forma non-GAAP results of operations, including certain ratios, operational and miscellaneous data, as well as net income, diluted earnings per share, operating expenses, and operating income that make certain adjustments or exclude certain charges and gains that are outlined in the schedules included in this website. Management believes that this non-GAAP and pro forma non-GAAP information provides investors with additional information to assess Galiano’s operating performance by making certain adjustments or excluding costs or gains and assists investors in comparing our operating performance to prior periods. Management uses this non-GAAP and pro forma non-GAAP information, along with GAAP information, in evaluating its historical operating performance. Galiano and Virtua also take no responsibility for third party pricing data provided for informational purposes and certain ratio results formulated from the provided third party pricing data.

The non-GAAP information is not prepared in accordance with GAAP and may not be comparable to non-GAAP information used by other companies. The non-GAAP information should not be viewed as a substitute for, or superior to, other data prepared in accordance with GAAP.


We believe in responsible corporate citizenship, which involves contributing to the economic and social growth of our host countries. The Galiano Sustainability Policy underscores our dedication to identifying and pursuing opportunities that bring meaningful, enduring, and positive changes to the local communities where we operate. Our goal is to ensure that our community development and social investment initiatives create sustainable benefits beyond the mine's lifespan, actively involving local communities to foster shared commitment and responsibility for each endeavor.

Highlights of 2022:

  • Invested $555K in local community development programs and initiatives
  • Initiated five community infrastructure projects in catchment areas
  • Completed the Esaase Regional Hospital in early 2023

Community Development and Social Investment are divided into four main categories at the AGM:

  • Strategic community investments to enhance local capacity
  • Legacy community infrastructure projects
  • Advancement and empowerment of women
  • Community investments linked to larger infrastructure projects

As part of the Asanko Opportunity Cycle, the AGM forms strategic partnerships to implement community investment programs, leveraging cost-sharing advantages and partner expertise. Asanko Opportunity Cycle focuses on:

  • Elevating living standards
  • Providing access to education
  • Offering vocational training
  • Nurturing local businesses
  • Facilitating access to Finance

The Asanko Development Foundation is a community-managed initiative targeting human resource development, economic empowerment, and infrastructure in AGM-surrounding communities. The AGM contributes annually to the foundation, including an endowment fund for post-mine closure social programs under social responsibilities for Obotan and Esaase.

Stakeholder engagement is crucial, and Galiano's commitment to actively involve stakeholders and consider their perspectives, concerns, and cultural heritage is an integral part of the Galiano Sustainability Policy. Through regular engagement, the AGM shares information, gathers feedback, and addresses potential conflicts, tailored to each stakeholder group with sensitivity and inclusivity.

Key levers:

  • Sustainable community development: Prioritize long-lasting economic and social progress.
  • Strategic partnerships: Collaborate for impactful community investments.
  • Asanko Development Foundation: Empower through community-managed initiatives.
  • Effective stakeholder engagement: Build trust, share information, and address concerns.

Stakeholder Engagement

Stakeholder engagement is a daily business practice at every level of our organization. Our operations currently support a number of socio-economic development programs in our catchment communities, the majority of which are implemented with local partners.

In 2021, a total of $701K was invested in local community development programs and initiatives.

The recently launched Social Responsibility Forums at Obotan and Esaase will augment existing community investment initiatives and add further resources for these programs and partnerships. Our engagement and community development activities focus on better enabling our catchment communities to meet their own long-term needs and aspirations, with close and collaborative relationships essential to ensuring mutual success. We employ people on the ground in all key locations to establish and maintain these relationships and to help our host governments and communities understand our plans and business needs, and for us to understand theirs. The Asanko Opportunity Cycle executes community investment program delivery through strategic and experienced sector partnerships, which leverages the advantage of cost-sharing and also integrates sector expertise and track records of these partners to enhance the success and results of the projects. Initiatives and expenditures must be focused on:

  • Improving living standards (health, water and sanitation, infrastructure, cultural heritage)
  • Access to Education
  • Vocational Training
  • Growing Local Businesses
  • Access to Finance

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