Omai Gold Mines PEA Reveals Large-Scale Gold Project in Guyana

Omai Gold Mines has released its Preliminary Economic Assessment (PEA) for its Omai Property in Guyana, which outlines a significant gold project with an estimated life-of-mine payable gold production of approximately 6.327 million ounces over 18 years.

The PEA incorporates the Wenot open-pit deposit and the adjacent Gilt underground deposit, with annual gold production averaging 351,488 ounces over the mine life and peaking at 435,667 ounces in year three. The study assumes an average head grade of 1.35 grams per tonne gold and an average process recovery of 93%.

The PEA estimates an after-tax net present value (NPV) at a 5% discount rate of US$4.0 billion, with the NPV increasing to US$5.5 billion at a gold price of US$4,200 per ounce. The payback period is estimated at 4.1 years at the base-case gold price and decreases to 3.4 years at the higher gold price.

The initial capital requirement is estimated at US$1.427 billion, with total life-of-mine capital expenditure estimated at US$2.396 billion. The average cash operating costs are estimated at US$1,501 per ounce of gold sold, while mine-site all-in sustaining costs are estimated at US$1,608 per ounce.