Omai Gold Mines' Omai Project Aims for 6.3 Million Ounces Over 18-Year Mine Life

Omai Gold Mines is advancing its Omai project in Guyana, a brownfield redevelopment of a former gold mine that operated for 12 years before closing due to low gold prices. The company's CEO, Elaine, highlighted the project's potential at the Mining Forum Americas 2026, citing a recent preliminary economic assessment (PEA) that points to 6.3 million ounces of production over an 18-year mine life.

The PEA shows an average annual production of more than 350,000 ounces, placing Omai in a rare category among large gold development projects. The company's projected output is supported by a net present value (NPV) of $4.0 billion at a 5% discount rate and a cumulative cash flow of about $8 billion over the mine life.

Omai is still drilling aggressively, with five rigs active and 80 holes not yet included in the resource estimate. The company believes there is still room to grow, citing the project's geology as unusual in its scale and continuity. Wenot, an open-pit deposit, contains 21 parallel mineralized zones across about 400 meters, while Gilt, an underground deposit, averages 4,600 ounces per vertical meter.