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Omai Gold Mines Corp V.OMG

Alternate Symbol(s):  OMGGF

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.


TSXV:OMG - Post by User

Post by Newmetalson Apr 14, 2022 6:01pm
216 Views
Post# 34605406

OMG a what Money Pit

OMG a what Money Pit As a gold  asset a money pit that would be great, but unfortunately the only money is to management fees and not abs not value adding drilling results.   In the last 12 months Omai has raised over $12.5m and has not delivered.  Seriously where did all that money go in 12 months!!!!!!!!!!!!!! Elaine Ellingham said they are expanding the drill program how is that possible no new results have been delivered on the targets and how is that possible when a drill is still at Wenot - they did not even mention how many meters they are drilling.  With the huge management fees we are likely to see another financing in a few months.  Management and the Baord needs to deliver value to Existing Shareholders and not keep diluting down the share price with no results and waving arms that a new Instituional shareholder has come in. How about  existing shareholders that came in a much higher prices. 
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