In a report released yesterday, Ben Pirie from Atrium Research maintained a Buy rating on Omai Gold Mines (OMG – Research Report), with a price target of C$0.80.
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Ben Pirie has given his Buy rating due to a combination of factors that suggest a promising outlook for Omai Gold Mines. Firstly, the company has reported impressive assay results from its drilling program, including significant gold intercepts such as 4.48 g/t Au over 57.0 meters. These results indicate the potential for substantial gold resources within the Wenot deposit’s ‘Dike Corridor’.
Furthermore, an updated mineral resource estimate is anticipated in Q2/25, followed by a revised Preliminary Economic Assessment in Q3/25, which will incorporate the Gilt Creek deposit. This is expected to enhance the project’s economic viability. As a result, Ben Pirie has increased the target price for Omai’s stock from $0.40 to $0.80 per share, reflecting the improved estimated Net Present Value of the project, which has risen from US$777M to US$1,233M at a gold price of US$2,200/oz.