“We are hopeful that we can convert the extra drilling done in 2021 into more ounces, a better mine plan and a bigger and enhanced processing plant.”
OSINO Resources ended 2021 in upbeat fashion. It raised C$10.5m in November, an issue that had to be considerably expanded due to the strength of demand. It then went on to make a series of announcements about drilling and other progress at the Twin Hills gold project in Namibia in the run-up to Christmas. This flurry of activity followed the detailing of a potential production scenario for Twin Hills in a preliminary economic assessment that was released in July.
It scoped an operation producing an average of 99,000 ounces of gold over a 15-year mine life, and an average operating cost of just over $800 per ounce. A good enough start, but Daun reckons Osino can improve on that as the project moves into advanced studies. He’s lining up partnerships with various essential suppliers, like the local power and water companies, and December’s drill results indicate that Osino is likely to make good on his commitment to improve the resource base too. But, with a long-track record in the industry and in Namibia, Daun’s got more than one trick up his sleeve.
The company holds 156 hectares of broader exploration ground around Twin Hills and is quietly confident that significant targets can be generated. As far as the company’s broader ambitions in Namibia are concerned, Osino unveiled the acquisition of the Ondundu gold project from B2Gold.