Omai Gold Project (Wenot Open Pit & Gilt Underground) PEA: $4.00B NPV, 24% IRR
Omai Gold Mines Corp.'s Omai Gold Project (Wenot Open Pit & Gilt Underground) in Guyana, Potaro-Siparuni (Region 8), Guiana Shield has a Preliminary Economic Assessment (PEA) outlining an after-tax NPV of $4.00B, an after-tax IRR of 24%, and initial capital of $1.43B. The mine plan runs 18 years at about 351000 oz Au per year.
Omai Gold Mines Corp.'s Omai Gold Project (Wenot Open Pit & Gilt Underground) has reported Preliminary Economic Assessment (PEA) results for the gold project in Guyana, Potaro-Siparuni (Region 8), Guiana Shield. The study headlines an after-tax net present value of $4.00B at a 5% discount rate. It reflects Omai Gold Mines Corp.'s (OMG.V) latest disclosed economics for the asset.
Economics. The after-tax NPV is $4.00B using a 5% discount rate. After-tax IRR is 24%. Initial capital expenditure is estimated at $1.43B, with life-of-mine sustaining capital of $636M. The study models a payback period of 4.1 years. All-in sustaining costs are pegged at 1608 USD/oz. Economics are based on Base case US$3,600/oz Au (sensitivity: $4,200/oz and $5,000/oz).
Production and mine plan. The project envisions an open-pit & underground operation. Life of mine is 18 years. Average annual production is approximately 351000 oz Au. Average head grade is LOM average 1.35 g/t Au (Wenot O/P 1.08 g/t Au incl. 19% dilution; Gilt U/G 2.98 g/t Au). Metallurgical recovery averages 93%. The open-pit strip ratio is 5.9:1.
Resources and ownership. The company holds a 100% interest in the project.
These figures are extracted from Omai Gold Mines Corp.'s technical disclosures and reflect the most recent PEA on file. Compare this project against other developers and producers in our project economics database, and always verify the numbers against the original technical report before making any investment decision.
Reserves & Resources
| Category | Tonnage | Grade | Contained |
|---|---|---|---|
| Indicated | 28.4 Mt | 1.59 g/t Au | 1.5 Moz Au |
| Inferred | 92.5 Mt | 1.33 g/t Au | 4.0 Moz Au |
| Indicated | 9.7 Mt | 3.33 g/t Au | 1.0 Moz Au |
| Inferred | 14.2 Mt | 3.22 g/t Au | 1.5 Moz Au |
Our Analysis
- IRR after-tax
- 24%
higher than 18% of 119 projects we track
- NPV after-tax
- $4.00B
higher than 98% of 192 projects we track
- Initial capex
- $1.43B
36% of NPV
costlier than 90% of 174 projects we track
- Payback
- 4.1yrs
slower than 93% of 103 projects we track
- Mine life
- 18yrs
- Discount rate
- 5%
- Study price assumption
- Base case US$3,600/oz Au (sensitivity: $4,200/oz and $5,000/oz)
- Spot gold today
- $4,181.10/oz
A US$1.43 billion build against a US$1.04 billion market capitalisation is the fact that governs everything else here. The company cannot fund this from its own balance sheet, and it cannot quietly raise the difference without asking existing holders to absorb meaningful dilution. That leaves a short list of realistic paths: a partner or streaming arrangement that trades economics for capital, a joint venture, or a full project-level debt package backed by a feasibility-grade study the asset does not yet have. Who writes the cheque, and on what terms, matters more to current shareholders than any number in the PEA.
The economics themselves are a study in contrasts. The after-tax NPV of US$4.00 billion ranks above 98% of the 192 gold projects we track, and the 24% after-tax IRR clears the roughly 15% hurdle developers typically need to attract project finance. But that IRR ranks above only 18% of the 119 gold peers, so the return is adequate rather than exceptional, and a 4.1-year payback sits below 7% of the 103 projects we track. The study assumes US$3,600/oz against a live spot of US$4,181.10/oz, which leaves room for the numbers to hold up, though a scoping-level PEA carries a capital estimate with a plus or minus 50% band and may lean on inferred material. Treat the figures as directional.
Guyana's Guiana Shield is a genuine positive: a mining-friendly jurisdiction with a growing production record, which is part of why the NPV reads as it does. The open question is whether a small-cap can convert a scoping study into a financed, permitted 18-year mine without surrendering so much of the asset that the headline NPV never reaches today's shareholders.
Our take, benchmarked against the project economics in the Mining Stocks database. Figures are estimates drawn from company technical reports — not investment advice; always verify against the source filing.
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