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Omai Gold Mines has filed a National Instrument 43-101 Technical Report supporting its Preliminary Economic Assessment (PEA) for the Wenot Deposit at the Omai Gold Project in Guyana. The PEA indicates an after-tax NPV5% of $556 million and an IRR of 19.8%, based on a gold price of $1,950/oz, with sensitivity analysis at $2,200/oz showing an NPV5% of $777 million and IRR of 24.7%. Key financial metrics include an initial capital cost of $375 million and sustaining capital of $172 million over a 13-year mine life, with projected average gold production of 142,000 oz per year. The after-tax payback period is estimated at 4.3 years. The project projects cumulative after-tax cash flow of $1.07 billion, with average cash operating costs at $916/oz and all-in sustaining costs of $1,009/oz.
Omai Gold Mines Corp. (OMGGF) participated in the 121 Mining Investment Summit in London, engaging with over 400 investors for potential partnerships. Additionally, the company granted incentive stock options to 14 individuals, allowing them to purchase up to 8,850,000 common shares at $0.14 per share over a five-year period.
Omai Gold Mines Corp. appoints Marcel Cameron P.Eng. as Country Manager, Guyana, who brings 25 years of experience in mine planning. The company aims to advance operations at the Omai gold project, incorporating additional resources to boost economic returns. The approval of a new 3-year Prospecting Licence by the Guyana Geology & Mines Commission further strengthens the Company's position for future mining activities.