Post by
trooper22 on Apr 01, 2024 4:02pm
Atrium Research update monthly report
This is the paragragh in the article:
"Goldsource Mines (GXS:TSXV), a peer of Omai Gold Mines Corp. (OMG:TSXV, BUY C$0.30 TARGET) is to be acquired by Mako Mining Corp. We want to highlight this acquisition to OMG shareholders as Mako is paying ~$21/oz of Au inthe-ground for 1.75Moz at 1.1 g/t Au. This compares to where Omai is currently trading at $12/oz Au in-the-ground (despite the recent run up in share price). However, Omai’s resource is substantially larger and higher grade (~4.3Moz at ~2.2 g/t Au) and is a brownfields project which we believe would justify a much higher premium in the case of an acquisition. We note that Omai is planning to release a PEA on the Omai Gold Project within the next month."
Article link:
https://bit.ly/3VH5nHP
Comment by
purebulls on Apr 01, 2024 5:15pm
Using that very low number of $21/oz of Au, that would put Omai at a $90M buy out right now. So .30 price target makes sense. BUT!! There are more holes being drill and the grade is better. I think the first offer is going to be north of 200M. Being conservative of course!
Comment by
marketsense on Apr 02, 2024 1:54am
So by those metrics, a buyout offer north of 200M equates to a s/p north of .60 correct? That would be a secondary target but first their pea needs to be completed and released. What price do you think the market will value that?
Comment by
purebulls on Apr 02, 2024 9:06am
PEA or not this should be sitting at .25-.30. Knowing the Gold Source take over at 21oz/au. Omai minimum should be that. But you have to think about the fact the gold price is up and gold stocks will rally soon. Everyone is now looking for the next Junior stock take over. Omai could be that! My opinion only! let's hope PEA comes out soon with some good news for us all.