Omineca Mining and Metals Ltd V.OMM

Alternate Symbol(s): OMMSF

Metals & Mining Gold

Omineca Mining and Metals Ltd. is a Canada-based junior resource company. The Company's flagship Wingdam gold exploration and placer recovery project is located along the Barkerville Highway 45 kilometers (kms) east of the City of Quesnel. The Wingdam Property includes mineral tenures totaling over 61,392 hectares (613 square kms) and in excess of 15 linear kms of placer claims, both encompassing the Lightning Creek valley where topographic conditions created thick layers of overburden, which preserved a large portion of a buried paleochannel containing placer gold-bearing gravels. It has exploration and evaluation properties into two geographical locations: British Columbia and the Yukon. In British Columbia, its properties include Abo, Fraser Canyon, Mouse Mountain and Wingdam. In Yukon, its property is Kiwi. The Fraser Canyon consists of around 2,221 hectares of placer claims and leases and 1,221 hectares of mineral claims. It has around 50% interest in the Mouse Mountain project.

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Omineca Mining and Metals Ltd

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Post by oilinvestor2022on Mar 19, 2024 3:47am

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Post# 35939853

450% implied return according to Analyst

450% Implied Return

Given the news, Newman reported that Research Capital reiterated its Speculative Buy rating on the Canadian gold mining company.

The financial services firm, however, lowered its target price on Omineca to CA$0.55 per share from CA$0.75, to account for dilution resulting from its recently completed financing. In comparison, Omineca is currently trading at about CA$0.10 per share.

Despite the drop in target price, the projected return for investors remains material at 450%.

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