OSI-PFS out todayAnother one we own a piece of this time Namibia-39 mins,
https://register.gotowebinar.com/recording/viewRecording/2347595189721541904/16421936
Gold Summary for Sept. 6, 2022
2022-09-06 18:13 ET - Market Summary
by Stockwatch Business Reporter
New York spot gold slid $9.80 to $1,701 on Monday. The TSX-V lost 8.45 points to 623.57 while the TSX gold index fell 1.99 points to 223.14. Most Canadian gold miners strayed little from their previous closes. New Found Gold Corp. (NFG), in dire need of some newfound assays from its Queensway project in north-central Newfoundland, slid 37 cents to $4.28 on 172,000 shares. Sandstorm Gold Ltd. (SSL) rose nine cents to $7.46 on 480,000 shares. Neither company has recent news.
The postman did come calling for many Canadian golds to start the short week. Heye Daun's Osino Resources Corp. (OSI) closed unchanged at 60 cents on 444,000 shares following a prefeasibility study of its Twin Hills gold project in central Namibia. The study is based on a reserve of 64.3 million tonnes averaging 1.04 grams of gold per tonne, about 2.15 million ounces and a substantial chunk of the 2.83 million ounces deemed measured and indicated in the latest resource estimate. (Another 240,000 ounces are inferred at a comparable grade.)
The study proposes a 13,700-tonne-per-day operation that would run for 13 years, averaging just over 150,000 ounces of gold per year during that time. The capital cost is significant but manageable at $375-million (U.S.), and so the bottom line is encouraging, with an internal rate of return at 26 per cent and a discounted net present value of $503-million (U.S.) after taxes.
Mr. Daun, president and chief executive officer, was "very pleased" with the results, which he says, "demonstrates that Twin Hills is what we always said it would be" -- a long-life, low-cost and economically robust open-pit gold project with significant upside. (While the line offers the usual promotional hyperbole, Mr. Daun and his crew have been enthusiastic in their praise for Twin Hills since Osino began work in 2018.)
Expect more enthusiasm: Mr. Daun's vision for the next year is to optimize and improve the project further, and to continue to advance it to the construction stage: "We expect imminent, significant progress on the permitting and project financing side, which will assist in continuing to fast-track the project." So far, financial progress has been quite insignificant: At the end of June, Osino had $8-million in cash on hand, just over half of it free and clear of current liabilities -- enough for further work, but not enough to get the market excited about construction plans.