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Omai looking to attract more investors to bridge gap with industry peers
…appoints David Stewart as Vice President Corporate Development & Investor Relations
Kaieteur News- Canadian mining company, Omai Gold Mines Corp. on Thursday announced the appointment of David Stewart, P.Eng, as Vice President Corporate Development & Investor Relations.
Omai holds a 100% interest in the gold project, which encompasses two gold deposits: the shear-hosted Wenot Deposit and the adjacent intrusive-hosted Gilt Creek Deposit. Last year the company unveiled an enhanced Mineral Resource Estimate (MRE) for its gold project located in Region Seven (Cuyuni-Mazaruni) Guyana and has plans to update its 2 million ounces gold estimate this year.
L-R: Elaine Ellingham, President & CEO, David Stewart, Vice President Corporate Development & Investor Relations, Jason Brewster, Vice President, Operations. (Omai looking to attract more investors)
According to Omai’s statement, Stewart is a mining engineer with 15 years of mining sector experience including mine development and planning, sell-side equity research, corporate development and investor relations. He was most recently VP Corporate Development and Shareholder Communications at Ascot Resources through the permitting, construction, and initial production ramp-up stages. Previously, he was an equity research analyst at both Desjardins Securities and GMP Securities, covering a wide array of precious metals producers, developers, and exploration companies.
Stewart said, “I recently visited the Omai project, and was impressed with both the growth potential of the project and with Guyana as a supportive and major emerging gold mining jurisdiction. Omai Gold has grown to become increasingly relevant to institutional investors, and I am eager to attract new stakeholders to participate in the near-term value creation for Omai Gold.”
Notably, Omai’s President and Chief Executive Officer (CEO) Elaine Ellingham, commented, “We are excited to have David join our team as our Omai project in Guyana gains broader recognition of its full economic potential. We have achieved transformational milestones over the past year that are just starting to be recognized by the market.”
Ellingham outlined, “We will continue to focus on expanding the overall gold resources at the project level, to advance towards an updated Mineral Resource Estimate and updated Preliminary Economic Assessment planned for 2025. It is, however, equally important that we enhance our capital markets profile to attract new investors in order to close the sizeable valuation gap that currently exists between Omai Gold and its peer group.”
Currently, there are several other Canadian mining companies involved in Guyana’s mining industry, particularly gold mining. Reunion Gold now G Mining Ventures, newly-formed Canadian mining company, Greenheart Gold Corporation and G2 Goldfields Inc. are in the exploration and development phase, they are expected to start gold production by the end of 2026 or 2027. Moreover, it was also disclosed that Omai has granted Stewart incentive stock options to purchase 1.25 million common shares of the company at an exercise price of $0.25/share pursuant to the company’s stock option plan. Vesting complies with the TSX Venture rules that apply to investor relations service providers.
(Omai looking to attract more investors to bridge gap with industry peers )
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