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B.C. Mine on Verge of Producing Gold

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Source: Bill Newman   10/04/2022

Placer gold recovery at this project is expected to start in the coming months after mine stabilization is completed, noted a Research Capital Corp. report.

At Omineca Mining and Metals Ltd.’s (OMM:TSX.V; OMMSF:OTCMKTS) Wingdam project in British Columbia, recently engaged Fortis Mining Engineering and Manufacturing is helping stabilize the bedrock/paleochannel interface in the mine, reported Research Capital Corp. analyst Bill Newman in a September 29, 2022 research note.

Once this and reconfiguration of the wash plant is done, gold production, after having been delayed, should commence.

“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.

The Canadian resource company’s stock is currently trading at about CA$0.10 per share, and Research Capital’s target price is more than seven times that, at CA$0.75 per share. This difference implies a significant potential return for Omineca investors.

“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.

So far, relayed Newman, Fortis has moved several meters into Wingdam’s paleochannel and is using grout, steel sets, and cement to reinforce the bedrock there to prevent the expected inflow of water. Once the mining services firm completes this area, it will “advance into the pay zone, feed the pay gravel to the wash plant, and continue across the channel.”

Newman noted that Omineca’s partner on the project, Lightning Creek Mining, is responsible for any additional cost to stabilize the mine, given Omineca’s costs are fixed at CA$850 per produced gold ounce.

Research Capital rates Omineca Speculative Buy.

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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.,  September 29, 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.

RCC USA: Information about Research Capital Corporation’s Rating System, the distribution of our research to clients and the percentage of recommendations which are in each of our rating categories is available on our website at www.researchcapital.ca. The information contained in this report has been drawn from sources believed to be reliable but its accuracy or completeness is not guaranteed, nor in providing it does Research Capital Corporation assume any responsibility or liability. Research Capital Corporation, its directors, officers and other employees may, from time to time, have positions in the securities mentioned herein.

Contents of this report cannot be reproduced in whole or in part without the express permission of Research Capital Corporation. US Institutional Clients – Research Capital USA Inc., a wholly owned subsidiary of Research Capital Corporation, accepts responsibility for the contents of this report subject to the terms and limitations set out above. US firms or institutions receiving this report should effect transactions in securities discussed in the report through Research Capital USA Inc., a Broker – Dealer registered with the Financial Industry Regulatory Authority (FINRA).

( Companies Mentioned: OMM:TSX.V; OMMSF:OTCMKTS, )


Source: https://www.streetwisereports.com/article/2022/10/04/b-c-mine-on-verge-of-producing-gold.html


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