RE:New resource update They did not need to drill fennell to add to the mineral resource estimate ( read the "Critical Omai Investor article I posted) and you will get your answer why they did not need to drill. They already had drill cores and photos of drill core samples to validate historical data. It was a waste of dollars drilling fennell especially because it would be expensive to drill those deep holes and they could be expanding Wenot instead at the same time as adding the Fennell (Guilt Creek) data. I think the overall plan is to increase the number onces overall and reduce mining costs with the open pit design of the Wenot pit which they are on their way to accommplish. If the east extension of the Wenot pit hold additional mineral resouces (which I think they do), because the pit has a potential to be open pit now it will be a potential target for a buyout. It will be very interesting to see what happens on the next PP raise. Will it be to one interested investor???
Fennell will more than likely be a high graded underground operation unless the close buy targets end up changing the mining plan for Omai. The market may wake up over time if the global markets change in the next few weeks. Investors are sceptical with any investments right now especially mining, but who cares I keep buy the cheap shares.
Omai has brought in some key players to advance this stock to the buyout stage. I feel more confident that it will get there with additional drilling and increasing mineral resources. With close to 4 million oz and additional target zones omai is well on their way. Companies are now opening their eyes to this once considered mined out ground and it is definatley looking more economical to mine. Good luck to all. Do your own DD!!!