Omai Gold Mines Stock Price, News & Analysis

Omai Gold Mines Corp (TSXV: OMG) (OTCQB: OMGGF) has announced its participation in the 50th Annual New Orleans Investment Conference on November 21st at the Hilton New Orleans Riverside. Elaine Ellingham, President & CEO, will deliver an investor presentation and conduct one-on-one meetings with investors. The conference brings together leading analysts and investors, featuring presentations across major asset classes, including Omai Gold Mines.

Omai Gold Mines announces positive drilling results from its Omai gold project in Guyana. Key highlights include intersections of 10.93 g/t Au over 7.5m, 3.19 g/t Au over 22.8m, and 2.96 g/t Au over 19.4m at the Wenot deposit. The current 10,000m drill program aims to expand the Wenot deposit's limits and infill undrilled areas. Since July 2024, 17 diamond drill holes totaling 8,460 metres have been completed, with assays reported for six holes. The company plans to expand the program with a third drill rig to accelerate towards an updated Mineral Resource Estimate at Wenot in Q1 2025.

Omai Gold Mines (TSXV: OMG) (OTCQB: OMGGF) has appointed Drew Anwyll as a new independent Director. Anwyll, a mining engineer with over 25 years of international experience, is currently Chief Operating Officer of Generation Mining He brings expertise in mining engineering through start-up and construction for both open pit and underground mines.

The company has also granted incentive stock options to certain directors to purchase up to 1,000,000 common shares at an exercise price of $0.165 per share with a five-year term.

Omai Gold recently announced a Preliminary Economic Assessment on its Wenot Deposit, showing potential for an open pit operation to produce 1.84 million ounces of gold over 13 years, with an NPV5% of US$556 million at a US$1950/oz gold price. The company holds a 100% interest in the Omai Prospecting License, which includes the past-producing Omai Gold Mine in Guyana.

Omai Gold Mines (OTCQB: OMGGF) has released drill results from its Omai gold project in Guyana. In 2024, ten diamond drill holes totaling 3,732 meters were completed, with seven assays received so far. Key results include:

• 3.13 g/t Au over 43.0 m
• 2.89 g/t Au over 22.0 m
• 2.20 g/t Au over 43.7 m

The 2024-25 drill program aims to expand the mine plan and enhance economic metrics. The recent PEA covers only 45% of the resource estimate. Highlights show potential for converting 'waste' areas into mineralized material. A Preliminary Economic Assessment (PEA) from April forecasts 1.84 million ounces of gold production over 13 years, with an NPV5% of US$556 million at a gold price of US$1950/oz. The ongoing drilling is set to continue until early December, targeting the expansion of resources and updated economic studies.

Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF) has appointed Joshua Bailey as Technical and Strategic Advisor. Bailey brings over 20 years of experience in mineral exploration, with executive roles at BHP Exploration, Exiro Minerals, and Wallbridge Mining. The company also announced its participation in the Beaver Creek Precious Metal Summit on September 10-13, 2024, where CEO Elaine Ellingham will present on September 12th.

Omai Gold owns the past-producing Omai gold property in Guyana. A recent Preliminary Economic Assessment supports an open pit operation producing 1.84 million ounces of gold over 13 years, with an NPV5% of US$556 million at a US$1950/oz gold price. The company's updated Mineral Resource Estimate includes 2.0 million ounces of gold (Indicated) and 2.3 million ounces (Inferred).

Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF) has begun drilling at its 100%-owned Omai gold property in Guyana. Following a $13 million brokered private placement, the company is well-funded for its 2024-2025 exploration and development programs. The initial 10,000 m drilling program started on July 2nd.

The company's recent Preliminary Economic Assessment (PEA) outlines production of 1.83 million ounces of gold from an open pit mine, averaging 1.51 g/t Au, with a net present value of US$566 million (5% discount). Omai aims to expand the overall property Mine Plan, enhance economics, and advance permitting and engineering studies.

The PEA is based on only 45% of the current Omai Property Mineral Resource Estimate, focusing on the Wenot deposit. Management believes additional drilling could expand the resource and potentially improve the project's economics.

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.