Galiano Gold Inc. (GAU)
Galiano Gold Inc. is a gold exploration and production company focused on the Asanko Gold Mine in Ghana. The company is engaged in the acquisition, exploration, and development of gold properties primarily in West Africa, aiming to deliver sustainable value through efficient mining operations and exploration activities.
Company News
Hummingbird Resources PLC, a West African gold mining company, announced that Nioko Resources Corporation, a subsidiary of CIG SA, has acquired approximately 97.3% of Hummingbird's shares. Nioko intends to exercise its right to compulsorily acquire the remaining shares, making Hummingbird a wholly-owned subsidiary. Hummingbird also holds a stake in Pasofino Gold Limited, and is challenging Pasofino's shareholder rights plan.
Options traders are pricing in a big move for Galiano Gold shares, but the fundamental picture for the company is not as positive, with analysts lowering earnings estimates over the last 60 days.
Investors need to pay close attention to Galiano Gold (GAU) stock based on the movements in the options market lately.