Omai Gold Mines Corp. (OMG.V) is targeting annual production exceeding 300,000 ounces from its historic Omai Gold Project in Guyana, according to President and CEO Elaine Ellingham.
The executive described the asset as a "rare gem," signaling a strategic pivot toward maximizing output from the company's two primary deposits: the shear-hosted Wenot Deposit and the adjacent Omai deposit.
The company trades at approximately US$15, a level management views as disconnected from the underlying growth potential of the Guyana operations.
The production outlook comes as management argues that the market has failed to price in the expansion of the company's resource base.
Ellingham noted that Omai's value per ounce of gold on the market has declined despite the growth in reserves, suggesting a disconnect between the company's fundamentals and its current valuation.
The company trades at approximately US$15, a level management views as disconnected from the underlying growth potential of the Guyana operations.
The focus on the Wenot Deposit is central to this revised outlook.