February 2026: Status Update
Executive Summary:
Alongside the usual company updates, this issue touches on the gold market and M&A environment in which we now find ourselves. It has often been said that timing is everything. With production imminent and exit discussions at their most advanced stage to date, there is a rare alignment of conditions – record gold prices, an active M&A market, and a depleted pipeline of new discoveries, all of which bode well for the year ahead.
Gold and M&A Market Update
As of early February 2026, prices had surged to approximately $5,000 per troy ounce, representing a gain of approximately 90% since January 2025 and over 160% since the start of 2023… With 22.35 million ounces of gold resources and production aiming to commence in Q2 2026, Omega is positioned to benefit from a gold market that has seen a fundamental shift in its underlying drivers… Beyond the gold price itself, one of the most significant developments of the past 18 months has been the fundamental shift in mergers and acquisitions activity across the gold mining sector.
Directors’ Valuation
The Board has completed its provisional Year End 2025 Directors’ Valuation, establishing a Net Asset Value (NAV) of approximately £610 million, representing a 36% increase from the 2024 NAV of £450 million.
Capital Structure
Omega’s capital structure is, by the standards of the junior mining sector, exceptionally clean. The Company carries no external bank debt, no project finance obligations, and no royalty agreements that would dilute future revenue streams.
Production Update
First production remains on course for Q2 2026 (May/June). This transformational milestone marks the Company’s transition from exploration to a producing, cash-generating gold mining operation. The initial mining plan targets high-grade zones where drilling has confirmed exceptional gold grades at shallow depths of just 5 to 12 metres below surface. These favourable conditions, high grade, shallow depth, and existing infrastructure, combine to create a compelling cost profile for initial extraction.
Strategic Land Acquisition and update
In November 2025, Omega completed the acquisition of an additional 97 hectares of contiguous mineral claims along the Eureka Thrust channel, further strengthening the Company’s strategic land position.
Exit Opportunities
Omega’s approximately 12,000 hectares of independently permitted gold tenements are structured into five distinct zones, each with its own mining permits, geological reports, and resource estimates. This architecture was designed deliberately: it gives the Board the flexibility to pursue multiple exit strategies simultaneously, across different zones, with different counter-parties, on different timelines. No single pathway is dependent on another.
International Expansion Initiatives
Omega’s 15+ years of exploration and operational activity in British Columbia have yielded more than gold resources, they have also produced a suite of proprietary technologies and operational methodologies that have proven effective in challenging geological and environmental conditions. International initiatives described in this update represent a deliberate strategy to monetise this expertise through partnerships and licensing arrangements, creating additional revenue streams that are not dependent on gold price, capital expenditure, or the timeline of the core BC production plan.
Omega Virtual Data Room
Omega’s data room contains technical reports, financial statements, legal documents, corporate structure information, and detailed geological data, all organised to the standard expected by institutional counterparties and their advisers. It has already facilitated numerous confidential discussions and is considered essential infrastructure as the Company enters its most active period of exit-related activity.
JP Jenkins Platform Update
Omega’s shares remain available to trade on the JP Jenkins platform (Ticker: OMM:JPJ), with settlement through the CREST electronic system. For shareholders, this provides a degree of secondary market liquidity that is relatively rare for a company at Omega’s stage of development, and it has proven its value beyond simple share trading.
Outlook
As the 2026 mining season approaches, the groundwork laid over almost two decades of exploration and corporate development is beginning to translate into tangible and near-term outcomes for the Company and its shareholders. Imminent production commencement, active and advanced exit discussions across multiple tracks, and a strengthened corporate infrastructure has created a set of conditions that were not present even twelve months ago.
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