Omineca Mining and Metals Ltd. is set to make a major announcement in the coming weeks/months, as it prepares to recover its first placer gold at the Wingdam underground project in British Columbia’s Cariboo Mining District. The news has already caused a stir among investors, with Research Capital Corp. predicting a significant increase in the company’s share price.
According to a report by Research Capital Corp. analyst Bill Newman, Omineca’s stock is currently a Speculative Buy, trading at around CA$0.16 per share. However, the firm’s price target is much higher, at CA$0.75 per share, which could result in a 369% return for investors.
Newman also noted that the company’s near-term production is expected to come from the paleochannel, which is nearly ready for operation. This development is expected to be a major catalyst for Omineca’s share price, as it will mark the company’s first significant production of placer gold.
The Cariboo Mining District has a rich history of gold mining, and Omineca’s Wingdam project is located in an area that has already produced significant amounts of gold. The company’s focus on placer gold mining is seen as a smart move, as it is a low-cost and low-risk way to extract gold from the ground.
Investors are eagerly awaiting Omineca’s announcement, which is expected to come in the next few weeks/months. If the company’s first placer gold recovery is successful, it could be the start of a major new mining operation in the Cariboo Mining District, and a significant boost for Omineca’s share price.
