Eight lenders line up to fund Osino's Twin Hills Gold Project in Namibia


Eight reputable institutions from Europe, North America and Africa want to fund the construction of Canadian company Osino Resources' Twin Hills Project in Namibia.

In a statement dated Feb. 3, Osino said it appointed Terrafranca Capital Partners Ltd to advise on and progress the debt financing workstream. 

Terrafranca is a leading independent financial advisor working mainly with junior African mining companies.

The Vancouver-based gold explorer says it will select its preferred financing partners in the next few months while working on the completion of the definitive feasibility study expected by June 2023. 

Osino Resources co-founder and chief executive officer Heye Daun said choosing the appropriate financing partners is an important next step for Osino. 

The Amended and Restated Pre-Feasibility Study dated effective Sept. 6, 2022, signed Oct. 25, 2022, shows that the Twin Hills Gold Project has 2.15 Moz in reserves and a 13-year open-pit mine life.

The average annual gold production rate is 169koz per annum at all-in-sustaining costs of US$930/oz in the first 10 years of operation. 

"We are very pleased with the competitiveness of the process and the resulting quality of project financing offers received from 8 reputable institutions with impressive track records of successful project financing. 

"We look forward to appointing our preferred debt financing provider and finalizing terms in the coming months as we continue to advance the development of Twin Hills," Daun said.


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