Interview with Elaine Ellingham, President & CEO of Omai Gold Mines Corp.

Recording date: 22nd December 2023

Omai Gold Mines Offers Unique Opportunity to Reignite Prolific Guyanese Gold Mine

Omai Gold Mines holds an attractive opportunity for investors looking to capitalize on renewing a prolific past-producing gold mine in Guyana. The company's wholly-owned Omai project was previously operated by Cambior, producing over 3.7 million ounces from 1993 to 2005 before being put on care and maintenance.

Crucially, when the mine closed Cambior shifted focus to another project, halting Omai exploration prematurely. Recent drilling efforts by Omai Gold have delineated an additional 3.6 million ounces of gold resources, with significant expansion potential remaining across the still underexplored land package.

Omai Gold is working systematically to grow resources and derisk project parameters to attract a well-capitalized mid-tier or major producer to fund the construction of a large-scale operation. The Guyanese government also voices strong support in helping advance delayed projects like Omai, given the major boost mining delivers for the country’s rapidly growing economy.

A key advantage held by Omai is its brownfield nature, with extensive infrastructure still in place from past mining operations. The ability to leverage existing assets like process facilities, tailings storage, and roads dramatically improves initial capital requirements. Furthermore, known metallurgy from years of large-scale production substantially de-risks proposals to resume processing.

While some market attention has focused on rising regional tensions between Guyana and neighboring Venezuela, Omai’s CEO believes current posturing relates more to Venezuela’s upcoming elections rather than substantive threats. With backing from both the US and Brazil, Guyana seems well insulated from these geopolitical issues.

Omai Gold's systematic exploration efforts and engineering studies aim to continue growing resources and outlining viability to attract a well-funded partner. The project's brownfield advantages, known metallurgy, existing infrastructure, and government support provide a clear pathway to expedited production after acquisition.

In summary, Omai Gold represents a unique opportunity to capitalize on renewing success at a prolific past producing gold mine in an attractive mining jurisdiction. Investors can capture significant upside as this high-margin project advances towards large-scale production again. The company's systematic derisking activities position the project well for M&A interest from motivated mid-tier and major producers seeking to bolster production pipelines.

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View Omai Gold Mines' company profile: https://www.cruxinvestor.com/companies/omai-gold-mines

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