BofA update shows where active managers are putting money
Investing.com - Stifel initiated coverage on Omai Gold Mines (OMG:CN) stock with a Buy rating and a price target of C$1.40 per share on Thursday.
The investment firm highlighted Omai’s rare combination of scale, grade, and infrastructure in Guyana, which has improved from 22nd to 9th place in the Fraser Institute rankings for mining investment attractiveness since 2022.
Stifel noted that Omai’s 100% owned brownfield gold project currently hosts 6.5 million ounces of gold at 1.99 g/t Au, placing it among a select group of gold deposits exceeding 5 million ounces with approximately 2g/t Au not already owned by a producer.
The firm identified only two such deposits in the Americas with potential for more than 300,000 ounces of annual gold production and a mine life exceeding 15 years.
Stifel’s analysis suggests that Omai’s combination of rapid ounce growth and healthy in-country acquisition multiples supports increased asset value, particularly as the Guiana Shield region receives renewed interest from investors.
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