Welcome to our dedicated page for Omai Gold Mines news (Ticker: OMGGF), a resource for investors and traders seeking the latest updates and insights on Omai Gold Mines stock.
Omai Gold Mines Corp. (OTCQB: OMGGF) maintains this comprehensive news hub for stakeholders tracking gold exploration and development progress at its historic Guyana projects. This authoritative resource aggregates all official corporate announcements, including drilling results, resource estimates, and operational milestones related to the Wenot and Gilt Creek deposits.
Investors will find timely updates on NI 43-101 compliant technical reports, brownfields redevelopment progress, and strategic initiatives guided by decades of historical production data. The curated news collection serves analysts requiring verified information about the company's exploration programs, infrastructure developments, and metallurgical testing outcomes.
All content undergoes strict verification to ensure alignment with Canadian mining disclosure standards. Regular updates provide insights into the company's systematic approach to resource expansion and economic assessments while maintaining neutral reporting on operational achievements.
Bookmark this page for centralized access to Omai Gold Mines' latest developments, including permit updates, leadership announcements, and exploration program results from Guyana's emerging gold district.
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.
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