Osino Resources – Third-Party Bid Takes Over Dundee Deal Osino Resources – Third-Party Bid Takes Over Dundee Deal

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Osino Resources’ shareholders were set for a marriage with Dundee Precious Metals until a third-party suitor gate-crashed the nuptials. The half-stock, half-money deal signed in December, which was meant to deliver all of Osino’s shares to Dundee Precious Metals for C$0.775 each plus 0.0801 of a Dundee share, paled in comparison to the newest bidder’s advances. An unnamed company has come forward with a gaze that Osino couldn’t resist, offering a whopping C$1.90 cash for each common share they hold, valuing Osino Resources at approximately C$368 million ($273m).

This irresistible proposal will also see the suitor shoulder the termination fee that Osino will have to pay Dundee Precious Metals, marking yet another tantalizing incentive for Osino’s shareholders. The allure of Osino Resources emanates from its advanced-stage Twin Hills gold project in Namibia, an endeavor synonymous with potential and promise. This proposed open-pit will boast a 13-year mine life and, over the first five years, is projected to yield an average annual production of 175,000 ounces of gold. The forecast for first production is pegged to the second half of 2026, a revelation from a feasibility study unveiled in June. Namibia blesses the project with a 20-year license, with only site-level permits remaining as stipulations to fulfill.

In a move to expedite the development of Twin Hills and address other liquidity needs, the third-party suitor has sweetened the pot by extending a $10-million loan to Osino Resources, underscoring the depth of their commitment to this thrilling, boundless journey towards gold.

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