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 > Omai buy out

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Comment by rockmoneyon Jun 27, 2022 12:20pm

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Post# 34784901

RE:Omai buy out

Sadly, I have to agree. The company is effectively broke today and trading at record lows. March 31 FS show cash of $1.6 million but after current liablties and license fees payable and another three monthof G&A at $100,000 per month, they are on fumes. Zero cash. Likely negative cash today with camp and project costs.

They have to finance and it will be at $0.05. This company is a total disaster and needs stronger management and a team that can run this. Reunion would be good. I'll take a painful M&A deal rather than leave this lot of incompetents running the show and diluting us to zero.

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