RE:Critical Investor article on Omai Gold MinesWith a market cap of just C$18.89M, the 3.7Moz Au of Omai result in a EV/oz ratio of only 4.56, which is extremely low, and the expected slight increase of the resource will lower this ratio even more. In comparison, fellow Guyana developers Reunion Gold (4.24Moz @ 1.91g/t Au, EV/oz 121), G2 Goldfields (1.2Moz @ 9.1g/t Au, EV/oz 107) and taken over GoldX with the Toroparu deposit (7.4Moz @ 0.91g/t Au at the time of acquisition, estimated EV/oz at 2021 buyout of C$315M was 42.6 and not a very economic deposit I might add) have much, much higher valuations.
With some more derisking maybe Omai can close the gap and find fafor from the market. Lots of gap to close and whats the downside ?