December 2023

  • According to Roma’s most recent interim technical reports (see above), Omega’s alluvial resource is currently estimated at 10 to 13 million ounces of gold, although this figure could be revised upwards in the future as more data is processed and analysed.
  • That in itself is a staggering amount of gold, worth around $26bn at today’s spot price – albeit unmined in the ground. The net figure after extraction costs is of course much lower, nevertheless, it is undoubtedly a source of wealth far beyond previous expectations.
  • To put this into perspective, the company estimated the gold resource to be just over 1 million ounces of gold in 2021. The subsequent phenomenal growth in gold resources discovered by the company has led to a 38-fold increase in the share price, from £0.02 per share in 2021 to around £0.78 per share in August 2022.

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