Osino Resources: A Promising High-Margin Namibian Gold Development Advancing Towards Production

• Haya Dawn, the founder and CEO of Osino Resources, has 30 years of experience in mining, having built mines, operated them, and been on both the debt and equity side of project finance.
• Osino Resources has been selected by the Mining Journal as a quality developer and is looking to increase exposure to the UK-based investor audience as the project advances toward construction.
• The company has released a pre-feasibility study (PFS) and is on track to release a definitive feasibility study (DFS). The project has an estimated capital cost of $375 million USD.
• Financing remains a significant challenge; while debt financing is accessible, the company is cautious of diluting shareholders excessively. A merger or acquisition is considered a possible path forward.
• The project is largely permitted in Namibia, a supportive jurisdiction for mining, and aims for gold production possibly by late 2025.

About Osino Resources

Osino Resources is a Canadian gold exploration and development company focused on its Twin Hills gold project in central Namibia. The company is led by CEO Heye Daun, a seasoned mining executive with over 30 years of experience across all aspects of the mining sector. Osino was founded in 2012 and has been advancing the Twin Hills project rapidly since making a significant high-grade gold discovery there in 2019.

Interview with Heye Daun, CEO of Osino Resources

Project Economics Looking More Favorable

• The Twin Hills pre-feasibility study released last September outlined robust project economics including 375M capital costs, 940/oz all-in sustaining costs and ~150koz/year average production.
• Some cost inflation seen earlier has leveled off recently, so the upcoming definitive feasibility study expected end of Q2 2023 may show improved economics.
• Twin Hills ranks at the bottom of the global cost curve, ensuring wide profit margins at current gold prices.

Permitting Nearly Complete

• Osino has obtained key permits required to commence construction and is finalizing last few items over the coming months.
• The Namibian government is highly supportive of responsible mine development given the benefits it brings. Osino has followed international best practices and earned its social license.
• This has enabled remarkably rapid permitting progress since the discovery in 2019.

Funding Discussions Well Advanced

• Numerous funding proposals are under consideration to finance the capital costs including debt, alternative financing and equity.
• Quality of asset and Namibian jurisdiction make it attractive for lenders. Debt carries higher cost but less dilution and quicker to production.
• Equity fundraising remains challenging in current weak junior mining market but expected to improve when sector regains strength.

Advancing Towards Construction in 2023

• DFS will bring increased confidence and firm timelines in H2 2023.
• Early works construction expected to commence this year with first gold pour targeted for late 2025.
• Actively looking at M&A options to derisk, finance, build and operate Twin Hills.

Conclusion

Osino offers investors an opportunity to gain exposure to a sizable high-margin gold development project in a tier 1 mining jurisdiction at a fraction of its intrinsic value. The experienced management team has systematically de-risked Twin Hills and put all the pieces in place to advance it rapidly to production over the next 2-3 years. The current market disconnect represents an exceptional entry point which value-focused investors with some risk tolerance should strongly consider. As sentiment improves in the junior mining sector, Osino is poised to re-rate substantially and deliver significant returns to early shareholders supporting its journey to become Namibia’s next large-scale gold producer.