Wingdam Bonanza for OMM? Some calculations (for vibrant discussion) regarding the value of Wingdam to OMM shareholders (of which I am one).
173.5 ounces of gold were obtained from 2.4 m across the gold- bearing channel. Numbers are from OMM website: https://www.ominecamining.com/
If this grade is maintained over the 2400m length of the channel, then 1000 x 173.5 = 173,500 oz of gold is there to be placer-mined in place (no transportation, chemicals, tailings ponds and such).
At US$1500 per oz, the potential value of Wingdam gold is 1500 x 173,500 = US$260,250,000
I have no idea of projected mining costs, but the following publication suggests that “all in sustaining cash costs” could be as high as US$1000 per ounce.
https://www.visualcapitalist.com/what-is-the-cost-of-mining-gold/
In Wingdam’s scenario that cost would total 173,500 x $1000 = US$173,500,000.
OMM’s net return would be $260,250,000 - 173,500,000 = US$86,750,000
When mining commences (late this summer?) OMM could have about 70 million shares outstanding. This computes to an increase in OMM’s value by US$1.24 (C$1.54) per share from Wingdam gold - as its parameters are currently defined.
Acquiring OMM shares now, as Bob Moriarty (321gold.com) once famously said of Eagle Plains’ Copper Canyon spinoff, “is like taking candy from a baby.”
That's MHO also.