Omai Gold Mines | TSXV: OMG | OTCQB: OMGGF

“We are very pleased with these first results from our 2024 drill program and have doubled the size of the program to 10,000 m. https://lnkd.in/gPYiFuSr Following completion of our Preliminary Economic Assessment for the Wenot open pit deposit in April, and a C$13m financing in June we prepared plans to drill several high potential areas on the Omai property that we believe will move us towards our goal of significantly expanding the mine plan for Omai beyond our baseline PEA, with higher annual production, a longer mine life and enhanced economics. The April PEA incorporates only 45% of the property’s Mineral Resource Estimate and much of our planned program is also targeting an expansion to our already substantial gold resources.”#miningnews#gold#juniorstocks#goldbug

Just returned from our Omai project in Guyana on Friday. Drilling is accelerating and we have been expanding the team. I am sharing some pictures from site. Elaine Ellingham, CEO. #gold#juniorgoldbug#goldstocktrades#goldinvesting#juniorgold

The drill program is progressing quickly with 1,659 m completed in July. Samples have been shipped to the assay lab and we await results. Team Omai has been expanded and we are anticipating arrival of the second drill at month end.

Elaine Ellingham, Omai Gold's CEO reports, “I was in Guyana a few weeks ago, as we were mobilizing for the next phase of drilling at our Omai project. With our $13 million financing completed in June, we are well financed to accelerate our programs. We anticipate that 2024 drilling will be quite exciting as we target an expanded Mine Plan that is also expected to increase the overall Omai gold resource. There are many areas where we have identified gold mineralization and further drilling of these near surface targets, including the East Wenot extension, the Camp zone, Snake pond and Blueberry Hill will be part of the 2024 program.   One priority is testing several “gaps” within the current Wenot open pit model that have seen little to no drilling and have excellent potential to host additional mineralized zones. Since these areas are currently within the proposed economic pit as “waste”, the impact of showing some additional gold mineralization could effectively reduce the strip ratio, thereby potentially boosting a future economic model. Two holes from the south, targeting wide “gaps” in the Wenot deposit, have been completed to date. Assays are pending.” 

Omai Gold has commenced its 2024-2025 exploration program with an initial 10,000 m drill program. Following on the PEA announced April 4th and the $13m financing closing June 20th, the drill was mobilized and drilling by early July. The first batches of samples have been shipped to the assay lab and stay tuned for drill results. Details of our drill program are in the attached news release https://lnkd.in/gDMH4qtQ

Guyana's offshore oil production continues to grow at a phenomenal rate - now anticipating Guyana to be the world's largest oil producer per capita by 2025. This impacts Omai Gold as overall infrastructure within the country improves. The President's commitment to large scale mine development continues to be strong as mining creates jobs and infrastructure into the interior. Our Omai gold project stands out as the economic benefits, quality jobs and spin off business development is fondly remembered from when the Omai Mine was in production 20 years ago.

Omai Gold is pleased to announce the closing of a $13 million financing. We thank Paradigm Capital Inc. as lead agent in this brokered private placement, along with Maison Placements Canada Inc., Pollitt & Co. Inc. and Velocity Trade Capital Ltd. The recent baseline Preliminary Economic Study on our Omai project in Guyana together with this strong investor support, positions us well to execute on an ambitious plan to expand the resources and mine plan to further enhance the economics of this large Omai gold project. https://lnkd.in/gHDSkzEc

Omai Gold upsizes recently announced private placement to $13 million. Omai Gold Mines and its Agent, Paradigm Capital Inc., are pleased to announce that, due to investor demand, the recently announced Private Placement Financing has been upsized to $13 million. Omai Gold CEO, Elaine Ellingham comments, "We announced a positive Preliminary Economic Assessment ("PEA") for our Omai project in Guyana on April 4th, which shows a US$556 million NPV5% at a $1950/oz gold price. This PEA incorporated 1.9 million ounces of gold, representing only 45% of our current Mineral Resource Estimate for Omai. This PEA provides a baseline production scenario that shows the potential for the robust economic development of Omai to once again become a large-scale gold producer. We have identified multiple opportunities to expand the proposed Wenot superpit development as well as integrating the Gilt Creek underground deposit. This financing will allow us to accelerate our work expanding the total mine plan, enhancing the economics, and commencing work towards a pre-feasibility study" https://lnkd.in/gyVkzida

Omai Gold Mines Announces $10 Million Private Placement. Omai Gold Mines | TSXV: OMG | OTCQB: OMGGF is pleased to announce a $10 million "best efforts" brokered private placement with Paradigm Capital acting as the lead agent and sole bookrunner. The offering is 83,334,000 common shares at $0.12 per share, aiming to raise gross proceeds of $10,000,080. Additionally, Paradigm has an option to sell up to 12,500,100 more shares for an additional $1,500,012. The proceeds will support our exploration, development, and general working capital efforts. The offering is expected to close around June 20, 2024, subject to necessary approvals. This private placement is available in Canada, the U.S. (under exemption), and other mutually agreed-upon jurisdictions. Shares issued will have a four-month-plus-one-day hold period in Canada. Click here for more details: https://bit.ly/3wKZcss Omai holds a 100% interest in the Omai Prospecting License that includes the past producing Omai Gold Mine in Guyana, and a 100% interest in the adjoining Eastern Flats Mining Permits. The company announced a Preliminary Economic Assessment (“PEA”) on its Wenot deposit at Omai on April 4, 2024, supporting an open pit operation to produce 1.84 million ounces of gold over a 13-year period, with an NPV5% of US$556 million at a US$1950/oz gold price. $OMG.V $OMGGF #Omai #OmaiGoldMines #Gold #Guyana #Geology #Mining #PreciousMetals #JuniorMining #MiningStocks #Finance #Investing #Invest #Stocks #StocksToWatch

Join the management of Omai Gold Mines | TSXV: OMG | OTCQB: OMGGF at the 121 Mining Investment Conference on June 3-4 in New York City. The conference attracts more than 400 investors, providing the company with targeted one-on-one investor meetings. You can register for the event here: https://lnkd.in/gYND7Y7 $OMG.V $OMGGF #Omai #OmaiGoldMines #Gold #Guyana #Geology #Mining #PreciousMetals #JuniorMining #MiningStocks  #Finance #Investing #Invest #Stocks #StocksToWatch