Africa-focused miner Osino Resources has an-nounced it recently signed an agreement with Canada’s B2Gold to purchase the Ondundu gold property in Namibia under a cash and stock deal worth some US$15.2 million.
Osino Resources said in a statement the acquisition agreement is subject to Namibia’s regulatory approvals and other customary clos-ing conditions.
“We believe this is a highly accretive transaction for Osino which pro-vides significant additional scale, diversification and consolidation of Osino’s Namibian projects. We plan to build on the excellent explora-tion and resource development work which B2Gold completed over the last 6 years and to quickly advance the project to compliant re-source stage,” said Heye Daun, the president and chief executive of Osino Resources.
Taking into consideration the project's historical exploration and anal-ysis, the Africa-focused miner estimates Ondundu “has the type of mineralization with potential to host a significant open-pit gold re-source possibly in the order of more than 1m oz of contained gold,” he said.