Research from Atrium Research, Atrium Research Corporation

Atrium Research

Research from Atrium Research

Atrium Research Corporation

Atrium Research provides institutional quality issuer paid research on public equities in North America. Our investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, unit economics, and an in-depth valuation analysis. 

Our research product includes in-depth initiation reports, research notes, thematic research pieces, and company fact sheets.

Equity Bottom-Up

<ul>
<li>OMG reported eleven holes from Wenot, headlined by 5.12 g/t Au over 40.5m (incl.</li>
<li>11.29 g/t Au over 10.4m) in hole 193 and 2.68 g/t Au over 40.7m in hole 197W.</li>
<li>Every hole hit multiple gold zones, with hole 193 returning 11 discrete zones well above the 0.3 g/t open pit cut-off.</li>
</ul>


OMG reported eleven holes from Wenot, headlined by 5.12 g/t Au over 40.5m (incl.
11.29 g/t Au over 10.4m) in hole 193 and 2.68 g/t Au over 40.7m in hole 197W.
Every hole hit multiple gold zones, with hole 193 returning 11 discrete zones well above the 0.3 g/t open pit cut-off.


OMG: 5.12 g/t Au over 40.5m; Reinforces Growth Potential

<ul>
<li>OMG released its updated and expanded PEA outlining average gold production of 351.5Kozpa over an 18-year LOM.</li>
<li>Upsized processing capacity of 25Ktpd results in an initial capex of ~$1.4B, with an additional $292M in growth capex for Gilt underground.</li>
<li>Cash costs and AISC remain competitive at $1,501/oz and $1,608/oz, resulting in an impressive NPV5% of $4.0B at $3,600/oz gold.</li>
</ul>


OMG released its updated and expanded PEA outlining average gold production of 351.5Kozpa over an 18-year LOM.
Upsized processing capacity of 25Ktpd results in an initial capex of ~$1.4B, with an additional $292M in growth capex for Gilt underground.
Cash costs and AISC remain competitive at $1,501/oz and $1,608/oz, resulting in an impressive NPV5% of $4.0B at $3,600/oz gold.


OMG: Significantly Expanded Production Profile; Updated MRE in Q4

<ul>
<li>Omai has released Phase 1 metallurgical work for the Wenot and Gilt deposits, outlining solid gold recoveries of 93% to 95%.</li>
<li>Results support conventional and proven processing methods, which will be reflected in the upcoming PEA anticipated in 4 to 6 weeks.</li>
<li>Management has indicated potential for a staged development, supporting throughput up to 20 to 25Ktpd (9Ktpd in 2024 PEA).</li>
</ul>


Omai has released Phase 1 metallurgical work for the Wenot and Gilt deposits, outlining solid gold recoveries of 93% to 95%.
Results support conventional and proven processing methods, which will be reflected in the upcoming PEA anticipated in 4 to 6 weeks.
Management has indicated potential for a staged development, supporting throughput up to 20 to 25Ktpd (9Ktpd in 2024 PEA).


OMG: Met Work Displays Gold Recoveries from 93% to 95%

<ul>
<li>OMG reported strong drill intercepts targeting northeastern extensions at Wenot, which fall within the proposed open pit.</li>
<li>This follows solid infill results on May 12th, as the Company looks to continue to upgrade and expand resources at the Omai Project.</li>
<li>The updated and expanded PEA will be released in 6-8 weeks, marking a key catalyst that investors are waiting for.</li>
</ul>


OMG reported strong drill intercepts targeting northeastern extensions at Wenot, which fall within the proposed open pit.
This follows solid infill results on May 12th, as the Company looks to continue to upgrade and expand resources at the Omai Project.
The updated and expanded PEA will be released in 6-8 weeks, marking a key catalyst that investors are waiting for.


OMG: Additional Strike Extension at Wenot; PEA in 6 to 8 Weeks

<ul>
<li>Omai released an updated MRE at the Omai Gold Project outlining significant expansions of the Wenot and Gilt deposits.</li>
<li>Overall, Indicated resources increased ~18% and Inferred increased ~25% vs. the prior August 2025 MRE.</li>
<li>The upcoming updated PEA expected in 2-3 months will be based on this morning’s updated MRE.</li>
</ul>


Omai released an updated MRE at the Omai Gold Project outlining significant expansions of the Wenot and Gilt deposits.
Overall, Indicated resources increased ~18% and Inferred increased ~25% vs. the prior August 2025 MRE.
The upcoming updated PEA expected in 2-3 months will be based on this morning’s updated MRE.


OMG: Updated MRE Displays Notable Growth; Updated PEA Next Up

Canada

Omai Gold Mines Corp. operates as an exploration and development company. The Company focuses on gold properties. Omai Gold Mines serves customers worldwide.

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Omai Gold Mines (OMG CN)

OMG: 5.12 g/t Au over 40.5m; Reinforces Growth Potential

OMG reported eleven holes from Wenot, headlined by 5.12 g/t Au over 40.5m (incl.11.29 g/t Au over 10.4m) in hole 193 and 2.68 g/t Au over 40.7m in...

Atrium Research

OMG: Significantly Expanded Production Profile; Updated MRE in Q4

Upsized processing capacity of 25Ktpd results in an initial capex of ~$1.4B, with an additional $292M in growth capex for Gilt underground.

Atrium Research

OMG: Met Work Displays Gold Recoveries from 93% to 95%

Results support conventional and proven processing methods, which will be reflected in the upcoming PEA anticipated in 4 to 6 weeks.

Atrium Research

OMG: Additional Strike Extension at Wenot; PEA in 6 to 8 Weeks

OMG reported strong drill intercepts targeting northeastern extensions at Wenot, which fall within the proposed open pit. This follows solid infill...

Atrium Research

OMG: Updated MRE Displays Notable Growth; Updated PEA Next Up

Overall, Indicated resources increased ~18% and Inferred increased ~25% vs. the prior August 2025 MRE.The upcoming updated PEA expected in 2-3...

Atrium Research

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