Photo by: Osino Resources Corp
Name of the Project
Twin Hills gold project.
Location
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 jbecker@osinoresources.com.