Omai Gold Mines Corp V.OMG

Alternate Symbol(s): OMGGF

Metals & Mining Gold

Omai Gold Mines Corp. is a Canada-based exploration and development company. The Company is engaged in the acquisition, exploration, evaluation and development of mineral properties. It holds a 100% interest in the Omai prospecting license that includes the past producing Omai Gold Mine in Guyana, and a 100% interest in the adjoining Eastern Flats Mining Permits. The Omai property is located within the prolific Guiana greenstone belt in Guyana, located on the north coast of South America. The Omai property consists of one 4,590-acre prospecting license granted directly from the government and held 100% by Omai Gold’s wholly owned subsidiary Avalon Gold Exploration Inc. (Guyana), and two Mining permits for medium scale operations totaling 1,519 acres are held 100% via a commercial contractual agreement with a Guyanese company.

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Omai Gold Mines Corp > Trading Halt

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Comment by Newmetalson Jan 04, 2022 6:36pm

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Post# 34283473

RE:RE:RE:RE:RE:Trading Halt

Of course grade is a factor for open pit. If the strip ratio is low at say 1:1 than the grade is doable when considering the cost of oil to run the mine as there is no electricity. If the strip ratio is say 10:1 than the grade may not work. They need to provide the waste to ore ratio. Gold was at $400 when it closed but oil was also at $20. the strip ratio is important as costs will be higher starting at the bottom of the pit. Also they need to disclose how deep they modeled the pit. Is the resource down to 450 meters?? These are facts that need to be provided - is this why Silvercorp decided to reduce their ownership in the company? Reading rbr release I don't see strip ratio or depth of constrained pit

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