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December 23, 2024
PI Global Investments
Gold

China’s Yintai Gold to buy Canadian gold explorer Osino for $272 million


“Whilst we were appreciative of the previous offer from DPM, the all-cash offer from Yintai represents a significant premium to the DPM offer price, thus is clearly a superior proposal, and is an excellent outcome for Osino’s shareholders,” Osino CEO Heye Daun said in a statement.

The deal also will help Osino fast-track development of the wholly owned Twin Hills gold project in central Namibia.

The deal offers cash consideration of C$1.90 for each Osino common share and was approved by the Osino board special committee, which recommended it to shareholders, the statement added.

($1 = 1.3503 Canadian dollars)

(By Urvi Dugar; Editing by Bill Berkrot)





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