# Omai Gold Announces Preliminary Economic Assessment for Its Omai Project, Guyana Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/omai-gold-announces-preliminary-economic-assessment-for-its-omai-project-guyana--47ce696c-d74e-42d3-9f39-601767a206a8 Original source: https://orestocks.com/company/OMG.V/press-releases/5688832521866609 Publisher: orestocks Original announcement: 2026-08-19T11:03:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Omai Gold Mines Corp. - Ticker: OMG.V - Exchange: Unavailable - Region: Guyana, South America - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update, Production - Extracted: 2026-08-19 13:47:16 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Omai Gold announced a highly positive Preliminary Economic Assessment \(PEA\) for its Omai Project in Guyana, projecting 6.327 million ounces of payable gold production over an 18-year mine life. The PEA outlines a robust after-tax NPV of $4.0 billion and an IRR of 24% at a base case gold price of $3,600/oz, with average cash operating costs of $1,501/oz. This economic study is underpinned by an April 2026 Mineral Resource Estimate that saw an 88% increase in total resources, highlighting the project's significant potential. Reasoning: Omai Gold's PEA for its Omai Project outlines strong financial metrics and a substantial gold production profile, building on a significantly expanded mineral resource. While the study is preliminary and involves high initial capital, the project's scale, favorable metallurgy, and existing infrastructure present a compelling development opportunity. - Positive factor: The Preliminary Economic Assessment \(PEA\) demonstrates robust economics with a high after-tax NPV of $4.0 billion and an IRR of 24% at a base case gold price of $3,600/oz. - Positive factor: The project projects significant life-of-mine payable gold production of 6.327 million ounces over 18 years. - Positive factor: The PEA is based on an April 2026 Mineral Resource Estimate \(MRE\) that reported an impressive 88% increase in total resources. - Positive factor: The project benefits from existing infrastructure, including highway access, a cleared site, and an airstrip, which can de-risk development. - Positive factor: High average process recovery of 93% for gold, indicating clean, non-refractory mineralization amenable to standard CIL processing. - Negative factor: The PEA is preliminary in nature and includes inferred mineral resources, which are considered speculative and have a lower level of confidence. - Negative factor: The project requires a high initial capital expenditure of $1.427 billion, which could pose financing challenges. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 6 ## Classification and evidence **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: The document is a Preliminary Economic Assessment \(PEA\) for the Omai Project, outlining its economic viability. Evidence · text > Omai Gold Announces Preliminary Economic Assessment for Its Omai Project, Guyana **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The PEA is based on an April 2026 Mineral Resource Estimate, which was an update that reported an 88% increase in total MRE. Evidence · text > This PEA is based on the Mineral Resource Estimate \("MRE"\) announced April 14, 2026 **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: The April 2026 MRE, which underpins this PEA, reported an impressive 88% increase to the total MRE. Evidence · text > reporting an impressive 88% increase to the total MRE **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The PEA explicitly states that it includes inferred mineral resources, which are considered speculative. Evidence · text > This PEA is preliminary in nature and includes inferred mineral resources **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The Mineral Resource Estimate was prepared by Mr. Alan J. San Martin, P.Eng. from SLR Consulting \(Canada\) Ltd., who is a Qualified Person. Evidence · text > Mr. Alan J. San Martin, P.Eng. from SLR Consulting \(Canada\) Ltd., is the Qualified Person \(QP\) for this Mineral Resource Estimate. **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The Mineral Resources were estimated in accordance with CIM Standards, which are compliant with NI 43-101. Evidence · text > The Mineral Resources were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum \(CIM\), Standards on Mineral Resources and Reserves Definitions \(2014\) and Best Practices Guidelines \(2019\). **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: The PEA projects an average gold process recovery of 93%, which is considered high for a CIL plant. Evidence · text > 93% process recovery **Free Milling** Polarity: positive Definition: Simple, clean ore amenable to standard processing without oxidation. Why it applies: Metallurgical test work indicates clean, non-refractory gold mineralization, suggesting simple processing. Evidence · text > results from recent metallurgical test work which indicate clean, non-refractory gold mineralization, free of deleterious components. **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: The processing facility is based on a standard metallurgical flowsheet, consisting of grinding, gravity separation, and carbon-in-leach \(CIL\). Evidence · text > conventional 25,000 tpd processing facility based on a standard metallurgical flowsheet, consisting of grinding, gravity separation, and carbon-in-leach \("CIL"\) **Open Pit Mining** Definition: No canonical definition is currently available. Why it applies: The PEA mine plan incorporates an open pit mine at the Wenot deposit using conventional truck-and-shovel methods. Evidence · text > combined open pit mine at the Wenot shear-hosted gold deposit **Underground Mining** Definition: No canonical definition is currently available. Why it applies: The PEA mine plan incorporates an underground mine at the adjacent Gilt deposit. Evidence · text > underground mine at the adjacent intrusion-hosted Gilt gold deposit **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: Cut-off grades for both open pit and underground resources are clearly stated in the MRE notes. Evidence · text > Mineral Resources are reported at cut-off grades of 0.20 g/t Au for soft rock, 0.30 g/t Au for hard rock within the open pit, and 1.70 g/t Au for underground shapes. ## Extracted facts Stored fact records: 6. Some facts used in scoring do not have a stored record. ## Resource Estimates (6) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/omai-gold-announces-preliminary-economic-assessment-for-its-omai-project-guyana--47ce696c-d74e-42d3-9f39-601767a206a8#fact-resource-facts-0) Omai · gold #### Identity - Project: Omai - Commodity: gold - Region: guyana - Reported Region: Guyana, South America - Ticker: OMG.V #### Resource Data - Category: indicated - Tonnes: 38100000 - Grade: 2.04 - Grade Unit: g/t - Contained Metal: 2495000 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-19T00:00:00.000Z Reasoning: The overall indicated resource is substantial, contributing significantly to the project's economic viability as demonstrated in the PEA. - Positive factor: Significant indicated gold resource for the overall project, providing a strong foundation for economic studies. - Negative factor: Cut-off grades for the overall project are a combination of different values for open pit and underground, making a single representative value difficult to state. Evidence · text > 2.495 Moz Au averaging 2.04 g/t Au \(in 38.1 Mt\) in the Indicated category ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/omai-gold-announces-preliminary-economic-assessment-for-its-omai-project-guyana--47ce696c-d74e-42d3-9f39-601767a206a8#fact-resource-facts-1) Omai · gold #### Identity - Project: Omai - Commodity: gold - Region: guyana - Reported Region: Guyana, South America - Ticker: OMG.V #### Resource Data - Category: inferred - Tonnes: 106600000 - Grade: 1.59 - Grade Unit: g/t - Contained Metal: 5465000 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-19T00:00:00.000Z Reasoning: The large inferred resource provides substantial potential for future growth and expansion, though its preliminary nature warrants a lower confidence score. - Positive factor: Large inferred gold resource for the overall project, indicating significant exploration upside and potential for future conversion. - Negative factor: Inferred resources are considered speculative and have a lower level of confidence. - Negative factor: Cut-off grades for the overall project are a combination of different values for open pit and underground, making a single representative value difficult to state. Evidence · text > 5.465 Moz Au averaging 1.59 g/t Au \(in 106.6 Mt\) in the Inferred category ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/omai-gold-announces-preliminary-economic-assessment-for-its-omai-project-guyana--47ce696c-d74e-42d3-9f39-601767a206a8#fact-resource-facts-2) Omai · gold #### Identity - Project: Omai - Commodity: gold - Region: guyana - Reported Region: Guyana, South America - Ticker: OMG.V #### Resource Data - Category: indicated - Tonnes: 28400000 - Grade: 1.59 - Grade Unit: g/t - Contained Metal: 1453000 - Contained Unit: oz - Cutoff Grade: 0.3 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-19T00:00:00.000Z Reasoning: The Wenot deposit's indicated resource is substantial and contributes significantly to the project's open pit component. - Positive factor: Significant indicated gold resource for the Wenot open pit deposit, forming a key part of the mine plan. Evidence · text > Wenot deposit comprises 1.453 Moz averaging 1.59 g/t Au \(28.4 Mt\) in the Indicated category ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/omai-gold-announces-preliminary-economic-assessment-for-its-omai-project-guyana--47ce696c-d74e-42d3-9f39-601767a206a8#fact-resource-facts-3) Omai · gold #### Identity - Project: Omai - Commodity: gold - Region: guyana - Reported Region: Guyana, South America - Ticker: OMG.V #### Resource Data - Category: inferred - Tonnes: 92400000 - Grade: 1.35 - Grade Unit: g/t - Contained Metal: 4000000 - Contained Unit: oz - Cutoff Grade: 0.3 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-19T00:00:00.000Z Reasoning: The Wenot deposit's large inferred resource provides substantial upside for future conversion and expansion, though it carries a lower confidence level. - Positive factor: Large inferred gold resource for the Wenot open pit deposit, offering significant expansion potential. - Negative factor: Inferred resources are considered speculative and have a lower level of confidence. Evidence · text > 4.00 Moz averaging 1.35 g/t Au \(92.4 Mt\) in the Inferred category ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/omai-gold-announces-preliminary-economic-assessment-for-its-omai-project-guyana--47ce696c-d74e-42d3-9f39-601767a206a8#fact-resource-facts-4) Omai · gold #### Identity - Project: Omai - Commodity: gold - Region: guyana - Reported Region: Guyana, South America - Ticker: OMG.V #### Resource Data - Category: indicated - Tonnes: 9700000 - Grade: 3.33 - Grade Unit: g/t - Contained Metal: 1042000 - Contained Unit: oz - Cutoff Grade: 1.7 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-19T00:00:00.000Z Reasoning: The Gilt deposit features a high-grade indicated resource, which is a strong positive for the underground operation's economics. - Positive factor: High-grade indicated gold resource for the Gilt underground deposit, crucial for the underground mining component. Evidence · text > Gilt deposit hosts an Indicated MRE of 1.04 Moz of gold averaging 3.33 g/t Au \(9.7 Mt\) ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/omai-gold-announces-preliminary-economic-assessment-for-its-omai-project-guyana--47ce696c-d74e-42d3-9f39-601767a206a8#fact-resource-facts-5) Omai · gold #### Identity - Project: Omai - Commodity: gold - Region: guyana - Reported Region: Guyana, South America - Ticker: OMG.V #### Resource Data - Category: inferred - Tonnes: 14200000 - Grade: 3.22 - Grade Unit: g/t - Contained Metal: 1465000 - Contained Unit: oz - Cutoff Grade: 1.7 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-19T00:00:00.000Z Reasoning: The Gilt deposit's high-grade inferred resource offers substantial upside for the underground operation, though it requires further drilling to upgrade confidence. - Positive factor: High-grade inferred gold resource for the Gilt underground deposit, with significant growth potential. - Negative factor: Inferred resources are considered speculative and have a lower level of confidence. Evidence · text > Inferred of 1.47 Moz of gold averaging 3.22 g/t Au \(14.2 Mt\) ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.