A very quick & dirty recap of a 22 minute call with Heye Daun, CEO at Osino resources (TSX-V:OSI)
Disclaimer: My interpretations & wording of the conversation. Not reviewed by the company. I own shares and am biased.
- Recent news – Osino Resources Drills 92m at 1.40 G/T and 37m at 2.58 G/T, Increases Strike By 50% at Twin Hills Central Discovery, Karibib Gold Project, Namibia.
- Happy with results
- Clear vector of higher grade shoot
- Warrants aggressive follow-up
- Finance
- No immediate need
- After all results
- In regular discussion with the main majors in W-Africa
- Strategic? Not always the best option although the market likes the ‘validation’ aspect, Heye is more inclined to stay single. It will depend on the market in the end
- Drilling: End of march the drilling will restart
- Filling in all around red dots (high grade zones)+ infill drilling
- Ideally: 6 months with 4 rigs spread over two programs (50x100m grid, 50-100 holes, 20.000m, phase 3 & 4)
- Internal ambitious target: RE end of 2020
- Site visit coming – could be the trigger for a finance
- Ross Beaty’s feedback (18% Shareholder)
- Happy & excited
- Genuine discovery
- Involved for personal reasons – Backing mgmt
- New District (Etekero & Otjikoto East) – NR in the next weeks
- Other assays (barking Dog, TH West, etc.) – NR in next weeks
- Navachab Mine: Mine in the proximity – build on 800k ounces resource in the eighties. Kept expanding it. Today 30y later: 2M ounces produced, 4-6M in resource. Tend to be big systems.
- Australian geo expert invited to visit site in 2,3 months to analyse/review structure (third party confirmation/challenge)
- Rainy season (Nov-April)
- Non-issue
- Drilling cost only: 40$/m RC & 100$/m DD (add +50% for assaying)
Cheers, Pete
