Company Name: Galane Gold Ltd.

With easing restrictions in both South Africa and Botswana, GG’s Q3 production increased 36% QoQ at Mupane (Botswana), and 50% at Galaxy (South Africa), and beat our expectations. We are raising our 2020 production forecast from 30.5 Koz to 32.5 Koz. Operating cost increased 5% YoY, and 2% QoQ, to $1,082/oz in Q3, and was higher than our expectations. However, gross profit increased 82% YoY, and 21% QoQ, to $790/oz, due to stronger gold prices.

Galane Gold Ltd. operates two underground gold mines in Africa – the Mupane mine in Botswana, and the Galaxy mine in South Africa.

Galane Gold Ltd. operates two underground gold mines in Africa – the Mupane mine in Botswana, and the Galaxy mine in South Africa. The two assets are just eight hours driving distance from each other.