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• Omai announced its initial PEA on the Wenot Open Pit, reporting a highly profitable, low capex project, with substantial upside.
• The PEA reported a low AISC of US$1,009/oz, IRR of 19.8%, and an after-tax NPV5% of US$556M (at US$1,950/oz Au).
• The average annual production is expected to be 142Koz over a 13-year mine life, mining an average grade of 1.51 g/t Au at 92.5% recovery.
• We are increasing our target price from $0.30/share to $0.40/share.
This morning, Omai Gold Mines Corp. (OMG:TSXV, OMGGF:OTC) announced its first Preliminary Economic Assessment (PEA) for the Wenot Open Pit Project (
OMG: Highly Economic PEA on the Wenot Open Pit
What you need to know:• Omai announced its initial PEA on the Wenot Open Pit, reporting a highly profitable, low capex project, with substantial upside.
• The PEA reported a low AISC of US$1,009/oz, IRR of 19.8%, and an after-tax NPV5% of US$556M (at US$1,950/oz Au).
• The average annual production is expected to be 142Koz over a 13-year mine life, mining an average grade of 1.51 g/t Au at 92.5% recovery.
• We are increasing our target price from $0.30/share to $0.40/share.
This morning, Omai Gold Mines Corp. (OMG:TSXV, OMGGF:OTC) announced its first Preliminary Economic Assessment (PEA) for the Wenot Open Pit Project (
Underlying
OMAI GOLD MINES CORP
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Ben Pirie
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