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Milestones Reached at British Columbia Gold Asset

 

July 14, 2022 (Investorideas.com Newswire) At this project in a historical mining district, extensive mine preparations were completed, then mining and processing of placer gold commenced, which "could be a major catalyst for the stock."


Omineca Mining and Metals Ltd. (OMM:TSX.V; OMMSF:OTCMKTS) announced that placer gold recovery is now underway at its Wingdam project in British Columbia's historic Cariboo Mining District, reported Research Capital Corp. analyst Bill Newman in a July 4 research note.

"In the coming months, we expect Omineca to report the recovery of placer gold, which we believe could be a major catalyst for the stock," Newman wrote.

As for Omineca's stock, it is currently trading at around CA$0.12 per share. Given that Research Capital Corp.'s target price on the Saskatchewan-based company is CA$0.75 per share, returns from here for investors could be significant.

Also of note, according to Newman, Omineca transferred 50% ownership of Wingdam to Hamilton Gold Royalties, its joint venture partner, after Hamilton reached the milestone of completing mine preparation.

To ready the mine, Hamilton carried out numerous tasks, including dewatering and rehabilitating the 550-meter (500m) decline. The company also installed new ventilation and water management systems for the underground workings, and it commissioned a nearly $20 million gold trommel wash plant.

Moving forward, Hamilton's subsidiary Lightning Creek Mining will serve as Wingdam's operator, providing all of the workers, equipment, and other services needed to continue mining and processing gold there. The fixed, all-in cost to Omineca for this is CA$850 per ounce of produced gold.

In this first stage of placer gold extraction at Wingdam, Lightning Creek is conducting a series of side-by-side crosscuts and drifts over 300m of the paleochannel, downstream from the initial crosscut bulk sample.

"Omineca holds an additional 14 kilometers of claims, representing significant exploration upside potential," added Newman.

Research Capital rates Omineca Speculative Buy.

Disclosures

1) Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Omineca Mining and Metals Ltd. Click here for important disclosures about sponsor fees.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Omineca Mining and Metals Ltd. a company mentioned in this article.

Disclosures for Research Capital Corp., Omineca Mining and Metals Ltd., July 4, 2022

Analyst Certification: I, Bill Newman, CFA, certify the views expressed in this report were formed by my review of relevant company data and industry investigation, and accurately reflect my opinion about the investment merits of the securities mentioned in the report. I also certify that my compensation is not related to specific recommendations or views expressed in this report. Research Capital Corporation publishes research and investment recommendations for the use of its clients. Information regarding our categories of recommendations, quarterly summaries of the percentage of our recommendations which fall into each category and our policies regarding the release of our research reports is available at www.researchcapital.com or may be requested by contacting the analyst. Each analyst of Research Capital Corporation whose name appears in this report hereby certifies that (i) the recommendations and opinions expressed in this research report accurately reflect the analyst's personal views and (ii) no part of the research analyst's compensation was or will be directly or indirectly related to the specific conclusions or recommendations expressed in this research report.

General Disclosures: The opinions, estimates and projections contained in all Research Reports published by Research Capital Corporation ("RCC") are those of RCC as of the date of publication and are subject to change without notice. RCC makes every effort to ensure that the contents have been compiled or derived from sources believed to be reliable and that contain information and opinions that are accurate and complete; RCC makes no representation or warranty, express or implied, in respect thereof, takes no responsibility for any errors and omissions which may be contained therein and accepts no liability whatsoever for any loss arising from any use of or reliance on its Research Reports or its contents. Information may be available to RCC that is not contained therein. Research Reports disseminated by RCC are not a solicitation to buy or sell. All securities not available in all jurisdictions.

Potential Conflicts of Interest: All Research Capital Corporation ("RCC") Analysts are compensated based in part on the overall revenues of RCC, a portion of which are generated by investment banking activities. RCC may have had, or seek to have, an investment banking relationship with companies mentioned in this report. RCC and/or its officers, directors and employees may from time to time acquire, hold or sell securities mentioned in our Research Reports as principal or agent. RCC makes every effort possible to avoid conflicts of interest, however readers should assume that a conflict might exist, and therefore not rely solely on this report when evaluating whether or not to buy or sell the securities of subject companies.

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