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Osino Resources, the Canadian gold mining firm, needs to invest US$365 million towards the development of its Twin Hills mining project in Namibia, this is shown in the company’s definitive feasibility study (DFS). Osino Resources is projecting the mine to go into production towards the end of 2025 or early 2026.
Osino Resources, the Canadian gold mining firm, needs to invest US$365 million towards the development of its Twin Hills mining project in Namibia, this is shown in the company’s definitive feasibility study (DFS). Osino Resources is projecting the mine to go into production towards the end of 2025 or early 2026. The mine will have a life of mine of 13 years and five million tonnes per annum design processing capacity and will have a Net Present Value (NPV) of US$742 million pre-tax at a US$1750/oz gold price and US$480 million post-tax at a US$1750/oz gold price.
The DFS expects a low-risk, technically simple open-pit mine utilising contract mining and feeding a conventional carbon-in-leach metallurgical plant processing 5mtpa of mineralized material. The results of this DFS confirm Twin Hills as a technically simple, long-life, and low-cost gold project with very strong economics and plenty of upsides, stated Osino’s CEO, Heye Daun. Osino will immediately commence with detailed engineering and the vision is to reach a fully financed construction decision by the end of 2023. The results of this DFS demonstrate that Twin Hills is a very robust, cash-generative project which will deliver outstanding returns to shareholders once it goes into production.
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Osino Resources, which has received a provisional confirmation from the Ministry of Mines and Energy for a 20-year mining license for its Twin Hills gold project, expects the mining project to employ about 750 people at the mine, most of whom will be Namibian and many of whom will be from local communities. The Twin Hills project is located within the prospective Damara sedimentary mineral belt and in close proximity to the producing Navachab and Otjikoto gold mines.
