Omai Gold Mines (OMG) Mining Forum Americas 2026 summary

Project overview and resource expansion

• Recently announced a Preliminary Economic Assessment (PEA) for a large gold resource, highlighting significant upside and ongoing aggressive drilling with five rigs active.

• Two main deposits, Wenot (shear-hosted) and Gilt (intrusion-hosted), are only 450 m apart, with both showing mineralization to at least 1,200 m depth.

• The project is located in Guyana, a favorable jurisdiction with strong government and community support for large-scale mining.

• Infrastructure benefits from proximity to a major road, planned deepwater port, and potential hydropower and gas energy projects.

• The site is a brownfield past producer with cleared land, existing warehouses, an airstrip, and a large tailings facility with expansion capacity.

Geology and deposit characteristics

• Wenot is an open-pittable, shear-hosted deposit with 21 parallel zones, significant shallow resources, and a discovery cost of $4/oz.

• Gilt is a 2.2 million ounce resource with subhorizontal zones, similar to Sigma-Lamaque in Quebec, and thick mineralized zones.

• Drilling has confirmed mineralization at depth, with a recent deep hole intersecting seven gold zones 700 m below previous drilling.

• Wenot's mineralization is hosted in a dike corridor and quartz feldspar porphyry, with wide, high-grade intersections well above the PEA cutoff.

• The property has 2.5 km of Wenot shear drilled, with 4–5 km to the east and 1 km to the west remaining largely untested.

Economic assessment and production profile

• PEA outlines a 6.3 million ounce production plan, targeting 350,000+ ounces/year over an 18-year mine life at 25,000–30,000 tpd.

• Net present value (NPV) at 5% is $4 billion at $3,600/oz gold, with $8 billion cumulative cash flow and $1.4 billion initial CapEx.

• At higher gold prices, NPV rises to $5.5 billion, IRR to 30%, and payback period is 3.4 years.

• The open pit (Wenot) is a "super pit" (2.4 km x 1.1 km x 550 m), with a strip ratio of 6, and a starter pit in the west targeting higher grades.

• Underground mining at Gilt uses drift and fill, with potential for blended mining to reduce costs; thick zones average 4,600 oz/vertical meter.