Osino elated with PEA results for Namibia gold mine

Osino Resources says the results of its preliminary economic assessment (PEA) for a gold mining project in central Namibia are positive.
It said the PEA for the Twin Hills gold project is based on an open-pit mine that will produce an average of 99 000 oz per year at an all-in sustaining cost of $945 per oz over 15 years.
Production will average 124 000 oz per year in the first six years.
The Vancouver-based company chief executive Heye Daun said they are targeting to advance the project to the construction stage in the next two years. 
“We are very pleased with the results of this PEA, which demonstrates that Twin Hills is what we always said it would be, namely a simple, economically robust, and attractive open-pit gold project with significant upside,” he said.
“It is geologically consistent, metallurgically simple, and technically low risk with low capital intensity and significant future upside.
“We are proud to have been able to deliver this PEA within less than two years of discovery and our vision for the next two years is to unlock its true upside potential and to advance the project to the construction stage.”

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished