Heye Daun

27 Sep

Gold refinery out of reach for Namibia

ObserverMainHeye Daun

CHAMWE KAIRA There is little hope that Namibia will be able to refine gold locally in the near future. This is despite increasing gold production and the development of a third gold mine. The outgoing CEO of Osino Resources, Heye Daun, explained that Namibia and South Africa have similar regulations around gold and that gold refining and all gold production in Namibia go to the Rand Refinery in Johannesburg. “We had this discussion before. A refinery in Namibia is not economically viable. Refineries are very expensive. They require big orders of big magnitude,” said Daun. Rand Refinery was established by…

Osino finally in Chinese hands

ObserverObserver MoneyHeye Daun, Osino Resources Corp, Shanjin International Gold of China

CHAMWE KAIRA Osino Resources Corp has announced that it has been finally acquired by Shanjin International Gold of China for cash consideration of 1.90 Canadian dollars (N$25) for each share. The deal was first announced in February and will see, Shanjin pay 368 million Canadian dollars (N$4.8 billion) to take over Osino. Shanjin intends to cause Osino to delist the Osino Shares from the TSX Venture Exchange, to submit an application for it to cease to be a reporting issuer, and to otherwise terminate its public company reporting requirements as soon as possible. Osino is focused on the fast-tracked development…