Omai Gold Projects 351,000 Ounces Annually in Guyana Mine Plan
Omai Gold Mines has filed a technical report outlining a preliminary economic assessment for its Omai Gold Project in Guyana. The report, dated October 2, 2026, projects annual gold production of 351,488 ounces over an 18-year mine life, with peak production reaching 435,667 ounces. At a gold price of $3,600 per ounce, the project is estimated to generate a $4.0 billion after-tax net present value (NPV) and a 24% after-tax internal rate of return (IRR). The cumulative after-tax cash flows are projected at $8.093 billion over the mine's lifespan.
The initial capital required for the project is estimated at $1.427 billion, with an additional $928 million needed for sustaining and growth capital. The average cash operating costs are projected at $1,501 per ounce, with all-in sustaining costs at $1,608 per ounce. The payback period is estimated at 4.1 years at the base case gold price, decreasing to 3.4 years if the gold price rises to $4,200 per ounce. The project includes the Wenot open pit and Gilt underground deposits.
Elaine Ellingham, President and CEO of Omai Gold, stated, 'Delivering this technical report is a major milestone for the Company.' She highlighted the potential economic impact on Guyana and the company's plans to expand and optimize the project as it advances toward a feasibility study.
The report notes that the project remains at the preliminary assessment stage, with inferred resources that are too speculative to support reserve classification. There is no certainty that the assessment will be realized.