Stock Watch-In the newsExcerpt from the gold report
Another company without material news was Heye Daun's Osino Resources Corp. (OSI), but today Mr. Daun, president and chief executive officer, said to expect some soon. Osino closed unchanged at $1.15 on 256,000 shares on word it will have its definitive feasibility study of the Twin Hills gold project in central Namibia by mid-June -- so in about a week, perhaps.
The new study follows a prefeasibility study completed last September that proposed a 13-year mine running at about 14,000 tonnes per day, and which carried a capital cost of about $375-million (U.S.). With gold production expected to average nearly 170,000 ounces per year, the bottom line was encouraging, with a discounted net present value of $503-million (U.S.) and an internal rate of return of 26 per cent, both after taxes and based on $1,700-per-ounce gold.
Mr. Daun of course cannot reveal the details of his coming study, but he does offer a bit of a promotional scoop perhaps, allowing that during preparation of the feasibility document, "we have continued to optimize the project with respect to cost estimates, performance across the flow sheet and further derisking of the project toward construction." Therefore, he concludes, the feasibility optimizations and updated resource estimate will "result in a robust project with strong economic fundamentals" that in turn will "establish Twin Hills as a top-tier African gold development project." Stay tuned.