Omai Gold Mines Corp V.OMG

New Wenot Resource - clearly not economic

[Newmetals]

Now I understand why OMG did not disclose the strip ratio to investors and calls for info . The statement from the 43-101 below is a nice way to say it's not economic.  A resource is supposed to be economic - a minimal NPV so they had to use waste numbers in their calculation. Why not just say what the waste tonnes moved are???   Also they have not even assumed any mining dilution   Basically what that statement to me reads is that the grade and ounces are not real as it can't be mined. All they had to say was assumed waste tonnes. Also odd at how little capping.  The 2 highest grades zones had only 7 caps and the highest grade zone they only capped one sample! 

Constraining pit strip ratio is not disclosed since the optimized pit shell does not include a pit design, mining

dilution and mining losses. Any mention of strip ratio at this stage would be premature, erroneous and misleading.

How do you optimize a pit shell then - thumb suck estimate???

[trooper22]

I dont think anyone has said Wenot is a stand alone resource.  It was an initial mineral resource estimate.  With future drilling operations planned, the resource estimate will only increase.  East extension was not even tested due to the infrustrature that was looked there by past producers. I would think some of the newer targets, broccoli hill, blueberry hill might be targets

[Newmetals]

I never said it needs to be economic as a stand alone resource.   But how hard is it to disclose waste tonnes.  That is what most credible companies do.  This is the biggest Omai BS statement I have seen  "Constraining pit strip ratio is not disclosed since the optimized pit shell does not include a pit design, mining dilution and mining losses. Any mention of strip