+27 71 448 3496

PFS supports Osino’s vision for Twin Hills

Share Article
A view of Osino Resources’ Twin Hills project in the Damara Sedimentary Belt when WhyAfrica paid a visit to the exploration site in July on the WhyAfrica Southern Africa Road Trip. Image credit: Leon Louw for WhyAfrica

PFS supports Osino’s vision for Twin Hills

Canadian gold developer Osino Resources’ prefeasibility study of its Twin Hills gold project in Namibia confirms that the project is set to become a viable open pit gold mine.  

According to Osino Resources CEO Heye Daun the prefeasibility study underlines that the gold project’s geology is consistent, its metallurgy is simple and that it involves low technical risk and low capital investment,” says Daun.

Osino Resources has delivered the prefeasibility study only three years after the company’s discovery of the Twin Hills deposit. Daun says that the next objective is to optimise and improve the project further, advancing it to the construction stage in the next year.

Daun adds that he expects the permitting and project financing of the project to be swift. “We will continue to fast-track Twin Hills. I’m looking forward to advance Osino’s ambitions to build a gold mine with a 13-year life and making a significant contribution to socio-economic development in Namibia in this way,” says Daun.

The Twin Hills project is located within Namibia’s prospective Damara sedimentary mineral belt and in close proximity to the producing Navachab gold mines.

Prefeasibility study results

The Twin Hills prefeasibility study found that the gold project is financially viable at a gold price of USD1700 per ounce (oz) and will continue to be profitable in the event of changes in key project parameters at different gold prices. “The analysis indicates that the project is robust and recommends that Twin Hills is progressed to the feasibility study level,” says Daun.

The Net Present Value (NPV) of the project at a gold price of USD1700/oz is USD783-million while the project still reflects a post-tax NPV of USD114-million in a stressed economic scenario where the gold price is USD1400/oz and an elevated discount rate of 10% is applied to the project.

The Twin Hills project will be completed at an overall capital cost of USD375- million, boasting an investment payback period of just over two years. Its processing plant will have the capacity to process five million tonnes of ore per year and annual gold production for the first ten years is expected to be 171,000 ounces at an all-in sustaining cost of USD909/oz.

Osino will recover gold from the mined ore with a conventional three-stage crushing, ball milling, gravity separation, pre-oxidation and carbon-in-leach (CIL) circuit. The orebody will primarily be mined as a conventional shovel and truck operation, with the mining operation outsourced to a reputable mining contractor.

The prefeasibility study opens the way for Osino Resources to bring its vision for Twin Hills to life. “We are now focused on starting a definitive feasibility study for the project before the end of this year and starting project implementation as soon as we secure project finance,” says Daun.

Osino completed more than 220,000m of drilling at Twin Hills. The company has a large ground position of approximately 6,900km2 located within Namibia’s prospective Damara sedimentary mineral belt, mostly in proximity to and along strike of the producing Navachab and Otjikoto gold Mines. The company is actively exploring a range of gold prospects and targets along the belt by utilising a portfolio approach geared towards discovery, targeting gold mineralisation that fits the broad orogenic gold model.


Osino’s core projects are located north and north-west of Namibia’s capital city Windhoek. The projects benefit significantly from Namibia’s well-established infrastructure with paved highways, railway, power and water in close proximity.

WhyAfrica does research, and reports about, natural resources and the primary sectors of African economies, and the infrastructure, equipment and engineering methods needed to extract and utilise these resources in an efficient, responsible, sustainable, ethic and environmentally friendly way, so that it will benefit the people of Africa.

Furthermore, WhyAfrica promotes Africa as an investment and travel destination, analyses the continent’s business environment and investment opportunities, and reports on how the political economy of African countries affects its development.         

WhyAfrica provides you with business intelligence that matters. Africa is our business, and we want it to be yours too. To subscribe to WhyAfrica’s free newsletter or digital magazine, and for more news on Africa, visit the website at www.whyafrica.co.za or send a direct message. WhyAfrica launched its first ever digital magazine in November 2021.

The company will undertake its annual road trip through South Africa, Zimbabwe, Zambia, the DRC, Malawi, Tanzania and Kenya in 2023. If you are interested in sponsorship or advertising opportunities, please contact me at leon@whyafrica.co.za. We have a wide range of different packages and combo deals to give your company the greatest exposure to a rapidly growing, African readership.  

The 2022 Southern Africa Road trip issue of WhyAfrica’s magazine is now available in print. The magazine was distributed in South Africa, Namibia, Zambia, Zimbabwe, and Botswana during WhyAfrica’s 2022 Southern Africa Overland Road Trip, the company’s new and innovative platform. WhyAfrica has expanded its product range and now offers its readers, followers, advertisers, subscribers and partners the following:

  • Daily 24/7 online articles on WhyAfrica’s website (FREE)
  • Daily updates on WhyAfrica’s social media platforms (FREE)
  • Newsletters delivered to a handpicked audience every two weeks (FREE)
  • Two printed magazine per year distributed at large events and during our road trips across Africa featuring original, in-depth articles (FREE) with great, on-site photographs by the WhyAfrica team (FOR SALE UPON REQUEST)
  • Four digital magazines per year (FREE)
  • Live updates, video clips, articles, and podcasts during and after WhyAfrica’s annual road trips (Southern Africa in 2022, East Africa in 2023 and West Africa in 2024) (FREE)
  • Sponsorship and advertising opportunities for the annual WhyAfrica Overland Road Trips (PAID FOR)
  • A library where companies doing business in Africa can display scientific or research papers (PAID FOR)
  • A product section where companies doing business in Africa can display new offerings or services (PAID FOR)
  • Media partnerships with, and a presence at, most of the major conferences and exhibitions in the African mining, energy, agriculture, infrastructure, water management, ESG, environmental management, tourism, development, and conservation sectors (FREE)
  • WhyAfrica connects potential investors with new ventures in Africa and suppliers and service providers with existing companies in Africa (PAID FOR)
  • WhyAfrica assists companies in generating content focused on the wider African business community (PAID FOR)
  • Partnerships with companies doing business in Africa (PAID FOR)
  • Partnerships with companies thinking about expanding into Africa (PAID FOR)
  • In 2023 subscribers will have access to our in-depth articles about the African political economy, research, and country reports about the countries we visit on our road trips, and trends in the sectors that we cover (PAID FOR)
  • A WhyAfrica book is in the pipeline and if all goes according to plan, should be published towards the end of 2023 (PAID FOR)
  • The WhyAfrica consultancy arm assists and advises companies doing business in Africa through utilising our extensive global business network (PAID FOR)

Become part of the WhyAfrica community. Tell us your story. Expand your footprint across Africa and partner with us to make the most of your African experience.           


Share Article


AgricultureEnvironmental Management & Climate ChangeEnergyESGInfrastructureMiningPolitical EconomyTourism and ConservationWater Management