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Namibia: Osino may seek to raise about $250m for gold mining

By David Whitehouse
Posted on Friday, 5 November 2021 13:43

Osino CEO Heye Daun. Photo supplied.

Canada’s Osino Resources may seek around $250m in 2022 to build a gold mine at its Twin Hills project in Namibia, CEO Heye Daun tells The Africa Report.

The current estimate for the project’s construction capital is around $200m, Daun says. Through the ongoing exploration drilling and technical optimisation, it is “very likely that the ultimate project capital will grow significantly, likely to around $250m or more,” he says.

Twin Hills was discovered by Vancouver-based Osino in 2019. The project is currently in the feasibility-study stage, which is estimated to be concluded during 2022. If construction commences in late 2022, the project could produce first gold in 2024, after a construction period of 15 to 18 months, Daun says.