Omai Project in Guyana Estimated to Produce 6.3 Million Ounces of Gold Over 18 Years

Omai Gold Mines Corp., a Canadian mining company, has released a positive Preliminary Economic Assessment (PEA) for its Omai Project in Guyana. The PEA mine plan incorporates both the Wenot open pit deposit and the adjacent Gilt underground deposit.

The project is expected to produce an average of 351,488 ounces of gold per year over an 18-year mine life, with peak year production reaching 435,667 ounces. Total combined production from the two deposits is estimated at 6,326,775 ounces of payable gold.

At a base case gold price of $3,600/oz, the project has an after-tax Net Present Value (NPV) of $4.0 billion, a 24% Internal Rate of Return (IRR), and a payback period of 4.1 years. At the recent spot price of $4,200/oz, the after-tax NPV increases to $5.5 billion, IRR increases to 30%, and the payback reduces to 3.4 years.