Heye Daun, CEO of Osino Resources joined us for a sponsor update. Osino is developing the Twin Hills Gold District in Namibia; he’s moving rapidly to build a mine. Daun a native Namibian mining engineer has built several successful companies, which were successfully acquired. He cashed up Osino around 18 months ago, raising $19 million through a private placement and warrant exercise. Osino has been racing ahead ever since. It recently secured a non-dilutive $10 million credit facility to hasten the mine building process.
Earlier in the year Osino acquired the nearby Ondundu project from B2Gold, adding nearly 1 million more gold ounces to the resource. Now it’s just a shade under 4 million ounces, Daun is confident that the company can push it over 5-million-ounce mark.
He is undaunted by the junior sector’s current woes. While he’s open to Osino acquisition by an appropriate suitor, he’s very content to build this mine. Improving the lives of his countrymen is extremely important to him. Namibia is a very stable country that is openly supportive of the mining industry. When combined with the project’s economics the story is quite compelling. Based on $1700 per ounce gold, the company will be generating substantial cash flows upon mine completion, which Daun expects in 2025. Higher gold prices and enhanced exploration potential will make the project that much more profitable.
Everything is looking up for Daun and Osino Resources and so is the share price. It seems that word has gotten out among well-heeled Namibian investors, they have been buying up shares at an impressive rate.
Company website: www.OsinoResources.com
Ticker Symbols: OTC:OSIIF TSXV:OSI FSE:R2R1
