Osino Resources Corp, the Canadian-registered holding company of the local Osino mining entities, dual-listed on the Namibian Stock Exchange (NSX) on Tuesday, under the share code OSN.
“The local listing aims to provide opportunities for Namibians and Namibian funds to acquire shares in a local gold-mining project, offering empowerment opportunities while also facilitating Osino’s access to local capital markets,” the company announced on Tuesday.
Although primarily listed in Canada due to the lack of exploration funding in Namibia, Osino was founded by Namibians, with all its underlying assets located in Namibia.
“The company is led by many of the individuals who played instrumental roles in the development of the Otjikoto mine (prior to its acquisition by B2Gold). Osino’s Twin Hills Gold Project, anticipated to become Namibia’s next gold mine, is expected to be larger than the Otjikoto mine. The project has undergone significant de-risking,” said the company.
Osino’s Co-Founder and CEO, Heye Daun, a Namibian-born mining engineer, expressed his long-held aspiration to create access to Namibian capital markets for Twin Hills’ project development.
“The Twin Hills Gold Project is projected to yield significant economic and social benefits for Namibia. The listing on the NSX presents another opportunity for Osino to collaborate with Namibian stakeholders,” he said.
Rowland Brown from Cirrus Capital, the Namibian corporate/transaction advisors, expressed optimism that the NSX listing would enhance exposure and awareness for Osino in Namibia.
“This marks the first genuine chance for Namibian investors to acquire NSX-listed shares in one of the country’s largest mines during an early, yet highly de-risked phase. This unique opportunity should set a precedent for future mine development in the nation, connecting Namibians to ownership of local extractive industry opportunities,” he said.
The successful listing of Osino comes amid the ongoing local roadshow, facilitated by Cirrus Capital, which will continue until September 1, 2023.
The roadshow is aimed at introducing investors to the company as well as its exploration and development activities in Namibia.
Osino is the first equity listing on the NSX this year, bringing the total number of listed companies to 50.
Osino initiated operations in Namibia in 2016 and listed on the TSX in 2018.
The company’s flagship Twin Hills Gold Project comprises 11 exclusive prospecting licenses granted by the Namibian government. These licenses cover a combined area of 153,206 hectares in and around the regional towns and settlements of Usakos, Karibib, Omaruru, and Wilhelmstal in the Erongo Region of Namibia.
