- Osino Resources Corp. (OSI) has acquired the Ondundu gold exploration property from B2Gold Corp.
- Osino issued 11,630,628 common shares to B2Gold for all of the issued and outstanding shares of Razorback Gold Mining Company Limited
- Razorback Gold Mining owns 100 per cent of the Namibian exclusive prospecting licence 3195, covering 19,969 hectares
- Osino is a Canadian gold exploration and development company focused on developing its Twin Hills Gold Project in central Namibia
- Osino Resources Corp. opened the day at $0.77
Osino Resources Corp. (OSI) has acquired the Ondundu gold exploration property from B2Gold Corp.
The Ondundu property is located in Namibia.
Osino has issued 11,630,628 common shares to B2Gold to acquire all of the issued and outstanding shares of Razorback Gold Mining Company Limited.
Razorback Gold Mining Company owns 100 per cent of the Namibian exclusive prospecting licence 3195, covering 19,969 hectares, and located approximately 130km northwest of Osino’s Twin Hills Gold Project in Namibia, together with all technical information and other books and records related to it.
Under the agreement, the remaining $6,350,000 of the total $15,200,000 purchase price may be settled through shares in lieu of cash.
“B2Gold’s partnership in this process and their agreement to accept Osino shares instead of cash to purchase the project will enable us to comfortably execute our development plans while maintaining a prudent financial position in a challenging market environment,” said
Heye Daun, Osino’s President and CEO.
“Osino’s vision for Ondundu is to demonstrate a feasible mining and process route involving gravity pre-concentration at Ondundu with subsequent leaching and further processing at Twin Hills,” he added.
Ondundu is an advanced stage gold exploration project located 250km northwest of Windhoek within exclusive prospecting licence (PL) 3195.
Osino is a Canadian gold exploration and development company focused on fast-tracking development of its Twin Hills Gold Project in central Namibia.
Osino Resources Corp. opened trading at $0.77.