Good run. There are some mistakes, but not too many and they are not too critical

First frame of Gilius raising his hand up - 0:15.85

First frame when the screen starts to get dark after Sara reaches the Golden Axe - 20:49.91

20:49.91 - 0:15.85 = 20:34.06

I have a demo of this run, which I can provide if necessary

Emulator: Gens 2.14 ROM: "Golden Axe III (J) [!].gen", renamed to "Golden Axe III (J) [!].bin" (because ".gen" extension doesn't allow to record a demo)

I returned to Gens 2.14, because BizHawk emulator provides too many possibilities to cheat and has too many settings