Twin Hills gold project, Namibia

Drill rig at the Twin Hills gold project

Photo by Osino Resources Corp

18th August 2023

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor


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Name of the Project
Twin Hills gold project.

Namibia’s prospective Damara sedimentary mineral belt, between the towns of Omaruru and Karibib, in the Erongo region.

Project Owner/s
Osino Resources Corp.

Project Description
A definitive feasibility study (DFS) has proposed the development of a low-risk, technically simple openpit mine using contract mining.

Life-of-mine (LoM) gold recovery is estimated at 92% using three-stage crushing, ball milling, gravity separation, pre-oxidation and carbon-in-leach plus filtration, and dry-stack tailings deposition.

The carbon-in-leach metallurgical plant will process five-million tonnes a year of mineralised material over a 13-year LoM.

The project is expected to produce 175 000 oz of gold in the first five years of operation and producing 165 000 oz/y over the LoM.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 5% discount rate, of $742-million and an internal rate of return of 34%, with a payback of 2.2 years.

Capital Expenditure
The initial capital cost of the project is estimated at $365-million.

Planned Start/End Date
Initial gold production is expected in late 2025.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
Lycopodium Minerals Africa (preliminary economic assessment and overall DFS study manager); DRA (infrastructure design, cost estimation and coordination of specialised consultants); Lycopodium and DRA/Senet (engineering, procurement and construction management); and Qubeka Mining Consultants (enhancement, design, scheduling and cost estimates for the openpit mining operation); Knight Piésold (design and cost estimate of the filtered tailings storage facility, and extend the hydrogeological model of the project); CSA Global (resource estimation); SRK (geotechnical and geophysical works); ECC (environmental work); SLR (hydrocensus updates); FL Smidth, Paterson & Cooke, Bokela and STL (tailings filtration testwork); GSFA (bulk power supply); Kuchling & Associates (bulk water supply); Dornier Suntrace (renewable power supply); and Collis & Associates (sustainability work).

Contact Details for Project Information
Osino Resources manager investor relations Julia Becker, tel +1 604 785 0850 or email

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor



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