The overall capital cost is viewed as $375 million with a 13-year life of mine and 5 million tonnes per annum processing capacity.
"We are very pleased with the results of this PFS which demonstrates that Twin Hills is what we always said it would be, namely a long-life, low-cost and economically robust open pit gold project with significant upside," Osino's co-founder, president, and CEO Heye Daun said.
The average annual gold production for the first four years is set at 200,000 ounces at an all-in sustaining cost of $890/oz.
For the first 10 years, the average annual gold production is 169,000oz at $930/oz AISC. LOM average production is viewed as 152,000oz at $939/oz.
Daun said with the PFS delivered within three years of discovery, the company will now focus on advancing Twin Hills to the construction stage.
"We expect imminent, significant progress of the permitting and project financing side which will assist in continuing to fast-track the project," he said.
Twin Hills lies within the Kuiseb Formation.
Daun called the project geologically consistent, metallurgically simple, technically low risk with low capital intensity, and significant future upside.
On 6 September, Osino had a share price of C$0.60 (US$0.46) and market capitalisation of C$83.46 million.
