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Osino finalizes acquisition of surface rights at Twin Hills Gold Project, Namibia

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Osino Resources Completes Acquisition of Surface Rights for Twin Hills Gold Project

Osino Resources Corp. has successfully acquired all surface rights for its Twin Hills Gold Project, including two private farms covering approximately 10,000 hectares. This acquisition solidifies Osino's ownership of the complete Twin Hills project area, reducing risks and facilitating the ongoing development of the project. Currently in the final permitting, detailed engineering, and project financing stage, Osino expects to make an investment decision for project construction in the first half of 2024.

Benefits of Surface Rights Acquisition

By becoming the registered landowners of the Twin Hills project area, Osino improves security of tenure and streamlines the construction permitting timeline. The acquisition also provides ease of access to utilities such as water and power, logistical advantages, and environmental benefits. Osino aims to replicate the success of B2Gold's Otjikoto Gold Mine, where ownership of surface rights played a significant role in project development.

Transaction Details and Regulatory Compliance

The acquisition of the farms was completed through Osino's Namibian subsidiaries, with each farm acquired for a specific purchase price. The transactions were subject to regulatory approvals, including investment certificates and waivers for acquiring agricultural land in Namibia. Osino ensured full compliance with all requirements and settled all taxes, duties, and encumbrances prior to closing.
Project Location and Infrastructure
The mining areas, tailings storage facility, mine waste dumps, and other project infrastructure are located on the acquired farms. The farms' ideal location provides easy access to paved highways, overhead grid power, and local water infrastructure. Osino has also acquired the farm Spesbona, pending regulatory approvals. In conclusion, Osino Resources' successful acquisition of surface rights for the Twin Hills Gold Project marks a significant milestone in the project's development. By securing ownership and streamlining the permitting process, Osino is well-positioned to advance the project and unlock its potential.

Osino Resources' Acquisition: A Potential Blueprint for New Businesses in Mining

Osino Resources Corp.'s successful acquisition of surface rights for its Twin Hills Gold Project could serve as a potential blueprint for new businesses in the mining sector. This development not only reduces risks but also facilitates the ongoing development of the project, setting a precedent for similar ventures.

Securing Ownership and Streamlining Processes

Osino's move to become the registered landowners of the Twin Hills project area has significant benefits, including improved security of tenure and streamlined construction permitting timeline. This could encourage new businesses to follow suit, ensuring they have full control over their project areas and can expedite necessary processes.

Compliance and Transaction Details

Osino's diligent compliance with all regulatory requirements and settlement of all taxes, duties, and encumbrances prior to closing could serve as a model for new businesses. This demonstrates the importance of thorough due diligence and adherence to legal and regulatory standards.
Strategic Project Location and Infrastructure
The strategic location of the mining areas and project infrastructure on the acquired farms underscores the importance of location in mining projects. New businesses must consider access to utilities, logistical advantages, and environmental benefits when choosing project locations. In conclusion, Osino Resources' successful acquisition of surface rights for the Twin Hills Gold Project could significantly impact new businesses in the mining sector, providing a roadmap for securing ownership, streamlining processes, and choosing strategic project locations.
Story First Published at: https://financialpost.com/globe-newswire/osino-completes-the-acquisition-of-all-surface-rights-at-twin-hills-gold-project-namibia
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